Blue Label bosses hit out at Cell C investment reception

Blue Label Telecoms’ joint chief executives hit out at the lukewarm market reception of its multibillion-rand investment in Cell C as the group’s share price extended its freefall. The group’s stock yesterday plunged 11.04 per cent to R6.85, following a fall of 8 per cent on Tuesday on the back of interim results published by [...]

2018-09-04T12:40:02+02:00August 23rd, 2018|

Debt pounds MTN shares

MTN plunged nearly 8 percent on Wednesday as its high debt and offshore woes rattled the markets, despite the group increasing its subscriber base by 6 million heads in the six months ended June. The group’s net debt increased to R69.8 billion in the period under review, compared with R57.1bn at the end of last [...]

2018-09-04T12:31:06+02:00August 10th, 2018|

CIS industry assets racing to R2.5 trillion

Investors ploughed R26 billion in net inflows to the local Collective Investment Schemes (CIS) industry in the second quarter of the year, with the combined value of assets in the sector racing towards R2.5 trillion at the end of June. The CIS industry statistics for the quarter ended June yesterday showed that the growth net inflows [...]

2018-09-04T12:20:40+02:00August 7th, 2018|

South African Banks set to show how Malaise is gripping economy

South African banks face another wasted year for earnings growth as the euphoria that greeted Cyril Ramaphosa’s ascendancy to the presidency fades with the reality of the challenges facing the economy. The country’s largest lenders start reporting first-half results from next week against the backdrop of tax hikes, record gasoline prices, stubbornly high unemployment and [...]

2018-09-04T12:04:15+02:00August 3rd, 2018|

Naspers: CEO Bob van Dijk’s total cash take for 2018 was R32m, not R1.6bn

Naspers has denied that its CEO Bob van Dijk reportedly earned R1.6bn in the year ended March 31, 2018, saying that he has not yet cashed in his share options. According to Naspers' remuneration report, Van Dijk earned $2.4m (about R32m) in cash in the year ended March 31. This includes a salary of $1.332m [...]

2018-08-22T14:11:44+02:00July 25th, 2018|

Central bank slams law-breaking municipalities as Nedbank steps in

The SA Reserve Bank (Sarb) on Monday washed its hands of municipalities who deposited millions in embattled VBS Mutual Bank as Nedbank stepped in to facilitate payouts to other depositors. The central bank said its deal with Nedbank covered 97 percent of depositors and that the municipalities would have to wait to see if there [...]

2018-08-22T10:29:34+02:00July 10th, 2018|

Analysis: KPMG loss of contracts costs 400 jobs

Auditing firm KPMG has blamed the loss of lucrative government contracts for its decision to let go of 400 of its staff as KPMG International ramped up its scrutiny of the local office’s work.  KPMG South Africa chief executive Nhlamulo Dlomu said Auditor-General Kimi Makwetu’s decision to sever ties with the controversy-prone firm left some of its [...]

2018-08-22T14:38:27+02:00June 5th, 2018|

Aeon Balanced Prescient Fund wins Big at Raging Bull Awards

The Raging Bull Awards ceremony held on the 31 January 2018 was a prestigious event. Aeon Investment Management was awarded two Raging Bull Certificates for the Aeon Balanced Prescient Fund for Top Performance in the following categories: Best South African Multi-Asset Medium Equity Fund Best South African Multi-Asset Medium Equity Fund on a risk-adjusted basis The [...]

2018-05-18T09:01:55+02:00February 2nd, 2018|

Liberty’s financial chief moves to Old Mutual

Liberty announced a change in it's top management. Old Mutual announced a new appointment to their senior management. In this article, Ann Crotty briefly informs you on the changes and why they are noteworthy in a South African context. Asief Mohamed, Chief Investment Officer at Aeon Investment Management, provides comment on the appointment of Casper Troskie [...]

2018-05-18T09:04:30+02:00January 11th, 2018|
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