Latest News Headlines

OK Zimbabwe posts higher sales as economy recovers

Zimbabwe’s second-largest supermarket chain OK Zimbabwe (OKZ.ZI) said it posted $187.5 million in sales in the year to March, buoyed by a recovering economy after last year’s formation of a unity government.
The unity government of President Robert Mugabe and Prime Minister Morgan Tsvangirai replaced the worthless Zimbabwe dollar with multi-currencies last year, stimulating economic activity, [...]

President Zuma convenes third meeting of BEE

The Black Economic Empowerment Advisory Council held its third meeting at the Union Buildings in Pretoria. The Council, which was established in December 2009 in terms of the Broad-Based Black Economic Empowerment Act, is chaired by President Jacob Zuma. It held its inaugural meeting on 4 February 2010.
In his opening remarks, President Zuma said much [...]

Investec set to clinch a 7% stake in OK

A SUBSIDIARY of Investec Bank, Investec Asset Management Company will emerge with a 7% stake in OK Zimbabwe after the asset manager agreed to underwrite the Zimbabwe Stock Exchange retailer’s rights issue. Market sources told business digest that in the event that OK fulfills the terms of the convertible loan notes, the move would result [...]

PSG readies to increase stakes in its subsidiaries

PSG was set to increase stakes in three of its subsidiaries as part of its growth strategy, Jannie Mouton, the executive chairman, said last week.
Mouton said PSG would raise its shareholding in Zeder, an investment company focusing on food processing; Paladin, PSG’s preferred private equity investment company; and PSG Konsult, a network of professional financial [...]

Pension funds eye $200 stake in private equity

Mexico’s pension funds will take a $200 million stake in a fund that invests in private equity, people involved in the deal said, as the risk-shy funds search for bigger returns.
Roughly half of the country’s private pension funds, known as Afores, will be involved in the transaction that should be listed on the Mexican stock [...]