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Scandal-hit Steinhoff reports $400 million loss in first half

12 Jul 2019

JOHANNESBURG South African retailer Steinhoff reported a 356 million euros ($401 million) half-year loss from continuing operations on Friday, as the damage from a massive accounting scandal drags on.

South Africa's Woolworths shares rise on sales turnaround

11 Jul 2019

JOHANNESBURG, July 11 South African department chain Woolworths said on Thursday it had turned around its fashion, beauty and home business after fixing poor product choices in clothing, which had weighed on its sales the previous year.

Naspers picks Mahanyele-Dabengwa as CEO for South Africa

03 Jul 2019

JOHANNESBURG Naspers on Wednesday appointed Phuthi Mahanyele-Dabengwa to the newly-created role of chief executive of South Africa for the media and e-commerce group.

South Africa's MultiChoice looks to lay off more than 2,000 workers

22 Jun 2019

(Corrects June 21 story to remove Naspers reference from headline and lead as Naspers no longer owns MultiChoice)

Naspers delays multi-billion euros internet float after admin error

21 Jun 2019

JOHANNESBURG South Africa's Naspers has been forced to delay the multi-billion euro flotation of its international internet assets, including its lucrative stake in China's Tencent, after an admin error by a third party involved in the float.

Scandal-hit Steinhoff says will suffer more in 2019

19 Jun 2019

JOHANNESBURG Steinhoff International warned of the lingering damage from a massive accounting scandal after the South African retail group reported a 1.2 billion euro ($1.3 billion) annual loss, sending its volatile shares down 8 percent. | Video

Scandal-hit Steinhoff posts $1.3 bln loss in delayed 2018 results

19 Jun 2019

JOHANNESBURG, June 18 South African retailer Steinhoff on Tuesday reported a 1.2 billion euro ($1.34 billion) loss for the 2018 fiscal year, in a much-delayed earnings report revealing the impact of an accounting fraud put at $7.27 billion.

UPDATE 2-South African Airways requests urgent state funding as it appoints interim CEO

07 Jun 2019

JOHANNESBURG, June 7 South African Airways (SAA) appointed its head of operations as acting chief executive on Friday and said it needs 4 billion rand ($265 million) from the government to survive the current financial year.

South African Airways CEO quits over lack of state support

03 Jun 2019

JOHANNESBURG South African Airways' CEO Vuyani Jarana has resigned after less than two years in the job, saying his turnaround strategy for the loss-making airline was being undermined by a lack of state funding and too much bureaucracy.

UPDATE 2-South African budget retailer Mr Price leaves Australia

31 May 2019

JOHANNESBURG, May 31 South African budget retailer Mr Price Group has closed its Australian test stores due to low returns, it said on Friday, underscoring the costs of expanding into new foreign markets, where retailers are fighting for market share.

World News