Cape Times 2023-01-20

THE JSE has a busy year ahead to continue to operate efficiently through what is likely to be another volatile 12 months for markets local and globally, and to pursue products, technology and collaborative opportunities to make capital-raising, share-trading and investment easier on the bourse. This was according to the JSE’s director of Capital Markets, Valdene Reddy, who was interviewed yesterday by Business Report about what the year holds for the JSE. The NJSE’s All-Share Index (ALSI) is up almost 9% since the beginning of the year after locally listed equities benefited from rising international equity markets. Reddy said the JSE was coming into 2023 from a previous 12 months where trading on the bourse was heavily impacted by macro-economic and global events, such as rising interest rates and inflation,…

POWER outages are muzzling competitiveness in Zimbabwe’s retail and consumer sector, forcing down margins and prompting operators to foray into acquisitions to preserve value. Zimbabwe has continued to suffer power outages – worsened by low water-levels at the Kariba Dam used by Zimbabwe and Zambia for hydro-electricity generation – that are hobbling businesses, including retailers such as OK Zimbabwe and Pick n Pay. OK Zimbabwe, the biggest retailer in the Southern African country, has announced that it has completed negotiations for the acquisition of existing Food Lovers’ supermarket outlets. It is also pursuing the expansion of the Food Lovers chain within Zimbabwe in addition to foraying into pharmaceutical space through the introduction of in-store Alowell Pharmacies. However, “incessant power blackouts” have been “driving up the cost of doing business and…

Trade union in a bid to remove all perceived bottlenecks in the way of private energy suppliers entering the fray TRADE union Solidarity has placed the blame of the ongoing power crisis in South Africa squarely at the door of the National Energy Regulator of SA (Nersa) for allegedly issuing very few licences to private electricity generators who could plug the power deficit. Solidarity yesterday initiated legal action against Nersa in a bid to remove all perceived bottlenecks in the way of private energy suppliers. Nersa is a regulatory authority mandated to regulate the electricity, piped-gas and petroleum pipeline industries in the public interest in terms of relevant legislation. Its mandate thus includes facilitating security of supply, investment in and access to infrastructure in the energy industry, and promoting competitive…

KAAP Agri, which specialises in retail and trading in the agriculture, fuel and related markets is well positioned for further growth, and agricultural conditions in the regions where the group operates were stable with a positive outlook. CEO Sean Walsh and chairman George Steyn said in their integrated report released yesterday that the PEG transaction would also annualise – in the past financial year to September 30, 2022 the results of only three months of the newly acquired fuel stations were included in the group’s financials. “In line with our strategic initiatives, the group will continue to optimise offerings at existing branches and be more selective with the expansion of bricks and mortar, especially with our B2B and B2C focus,” the two executives said. The group, via subsidiary TFC Operations…

FOUR days is not enough to solve the challenges that face the world, and no-one expects to. The point of the World Economic Forum though is to take a health check on how the world is doing, collectively share experiences and then collaboratively find the solutions, as generally speaking, we all share the same issues, and we all want the same outcome – a sustainable future. This year has been pivotal in defining the interwoven tapestry of challenges we all face, and during which certain home truths must be taken on board by South Africa if it is to ever create the space our hard-won freedom dreamt of for our people. Clean energy If you are in South Africa, any energy will do that will enable us to switch on…

WOOLWORTHS’ share price surged on the JSE by nearly 7% yesterday after the retailer reporting that it expects its headline earnings per share for the first half of 2023 to increase, boosted by higher festive spending in South Africa and the return of customers to physical stores in Australia. In intra-day trade the share hit a high of R74.79. In its trading update for the 26 weeks ended December, 2022 released yesterday, Woolworths said it expected its headline earnings per share (Heps) for the first half of 2023 to rise by between 70% and 80%. For the reported period, Woolworths said it saw an 18.5% (16.3% in constant currency) increase in group turnover and concession sales. In Australia, the footfall resulted in a substantial increase in brick-and-mortar sales, with the…