Cape Times 2025-03-25

Telkom’s share price inched up 4.3% to R37.60 on Monday morning after the State-owned telecoms firm t announced that it has fulfilled the suspensive conditions to proceed to closing of the disposal of its mast and tower business, Swiftnet. In March 2024, Telkom SA sold Swiftnet to a consortium that includes global infrastructure private equity investor Actis and Royal Bafokeng Holdings for R6.75 billion. Telkom said the parties were accordingly proceeding to take the necessary steps to closing of the disposal in accordance with the sale agreement. When the transaction was first announced, Actis said Swiftnet was a strategic acquisition for it and would see it acquire over 4 000 sites across the country. The platform is underpinned by a strong relationship with Telkom and other anchor tenants, and…

Naspers’ Europe-based and Amsterdam-listed subsidiary Prosus, and Just Eat Takeaway.com said Monday they are making good progress on preparations, including regulatory approvals, for the deal to buy Just Eat for €4.1 billion (R80.6bn). “Today, Prosus submitted a request for review and approval of the Offer Memorandum to the AFM” (Autoriteit Financiële Markten), the Dutch financial markets regulatory body, the internet group's said in an update. The offer is expected to commence in the second half of 2025, and it was expected that settlement would take place by year-end, subject to customary conditions, including regulatory approvals. The offer has been pitched at €20.30 in cash per share. Just Eat's share price was 0.13% lower at €19.46 on the Amsterdam stock exchange on Monday afternoon. Naspers’ share price was 0.39% lower at…

The AfCFTA is expected to raise Africa’s GDP by 1.2% and welfare by 0.9% in 2o45 The United Nations (UN) Economic Commission for Africa (ECA) has encouraged African governments to capitalise on the prevailing global economic tensions and fragmentation by fully implementing the African Continental Free Trade Area (AfCFTA). The AfCFTA aims to create a single market for goods, services, facilitated by movement of persons in order to deepen the economic integration of the African continent, and thus enhance the competitiveness of the economies of State Parties within the continent and the global market. The AfCFTA is expected to raise Africa's GDP by 1.2% and welfare by 0.9% in 2045. The ECA’s Economic Report on Africa 2025, released on Monday, examined the AfCFTA and its transformative opportunity to accelerate trade-led…

Economists on Monday said they believed that motorists were in for some relief next month buoyed by a stronger rand and lower international oil prices, with a big cut in the petrol price predicted for April. This will bring some reprieve to financially-constrained consumers after the South African Reserve Bank decided to leave interest rates unchanged at 7.5% per annum on the back of steadily rising inflation. Old Mutual Group chief economist, Johann Els, on Monday forecast a petrol price cut of around 85 cents a litre for next week. “At the moment, the daily recovery is running at 58 cents a litre. The running average for the month thus far is 87 cents per litre, because the daily is slightly lower than the running average the average will ease…

Ulrik Bengtsson has big shoes to fill as he steps into the CEO role at Sun International, succeeding Anthony Leeming effective July 1, or earlier pending his work permit. Leeming, 55, will retire early on December 31 after 26 years with the hospitality and gambling group, including eight as CEO. Leeming will step down on July 1 but remain until year-end to ensure a smooth transition with Bengtsson, supporting the board as needed. In an interview with Business Report, Leeming gave more details on his retirement plans, saying, “There’s a big world out there I’d love to see - more golf, maybe some adventures.” Sun International said, “Anthony has provided formal notice to the board that he intends taking early retirement from Sun International on December 31, 2025 to…

Alexforbes, a JSE-listed financial services group, announced a boost to its investment team on Monday, appointing specialised chief investment officers to strengthen its institutional, retail, and private markets offerings. It said in a statement the move is aimed at delivering superior outcomes for clients across various regions as well as to maintain its position as a leading investment destination Senzo Langa, a 14-year veteran of the firm, has been promoted to Institutional Chief Investment Officer, leveraging his extensive experience to drive institutional investment strategies. Gyongyi King, who has served as Chief Investment Officer for eight years during her 15-year tenure, will transition to Retail Chief Investment Officer while also taking on the role of Private Markets Chief Investment Officer. King’s dual appointment reflects her integral role in the company’s private…