Registered users can save articles to their personal articles list. Login here or sign up here

Five things making headlines in South Africa today

German company wants 100% of Murray & Roberts, Randgold & Exploration reports huge losses, Stellar Capital releases results, Moody’s keeps rating unchanged, and Zuma to appear in court in April.

Here’s what caught our attention on Monday:

1. German company wants more of Murray & Roberts

A German investment company, ATON GMBH, has informed Murray & Roberts (M&R) that it plans to offer M&R shareholders R15 per share, as part of its ambition to increase its 29.9% stake to 100%, Moneyweb reported.

2. Randgold & Exploration reports R7 million loss

Randgold & Exploration Company on Monday said that its total comprehensive loss came to R7 million, for the financial year ended December 31 2017. This was mainly due to an increase in legal costs. The company had a net asset value of R2.13 per share, as at December 31 2017.

3. Stellar Capital Partners results

Investment holding company Stellar Capital Partners said its net asset value per share declined to R1.12 as at December 31 2017, compared with results recorded on June 30 2017. This is being attributed to the listed share price of Torre – the analytical services segment of Stellar.  

4. South Africa dodges third Moody’s downgrade

On Friday, Moody’s Investors Service decided to maintain South Africa’s debt at Baa3, while shifting Africa’s outlook to stable from negative. Bloomberg reported that Moody’s sees more promise and transparency in South Africa under President Cyril Ramaphosa’s leadership.  

5. ICYMI – Zuma to appear in court on April 6

Former President Jacob Zuma will be appearing in court on April 6 on charges of corruption, fraud, money laundering and racketeering, which were dropped before his presidency in 2009. EWN reported that the first court meeting will most likely deal with setting a trial date, not bail. Zuma was recently prosecuted by the National Prosecuting Authority. 

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.


To comment, you must be registered and logged in.


Don't have an account?
Sign up for FREE


Insider GOLD
ONLY R63pm

Moneyweb's premium subscription is a membership service which will give you access to a number of tools to take charge of your investments.
Or choose a yearly subscription at R630pa - SAVE R126

Get instant access to all our tools and content. Monthly subscription can be suspended at any time.



Follow us:

Search Articles:Advanced Search
Click a Company: