Black earners expand share of South Africa’s top income bracket

Rising remuneration among Black South Africans has dramatically changed the racial makeup of the country’s band of middle- and top-income earners over the course of three decades of democratic... 

Arcelor’s South African assets get approach from steel processors

South African steel processors have approached the country’s biggest development-finance institution with a proposal to help take control of ArcelorMittal SA’s struggling local unit. The industry... 

Steenhuisen warns DA about exiting alliance

South Africa’s second-largest political party faces some internal pressure to quit the ruling coalition, but doing so would damage its growth prospects and be a “big mistake,” its outgoing leader... 

World No. 2 gold miner is ‘willing to move’ on M&A, CEO says

Agnico Eagle Mines CEO Ammar Al-Joundi said the gold producer is “very well-positioned” to pursue acquisitions should opportunities emerge, signaling a renewed openness to deal-making after years... 

Economists see three more South Africa rate cuts, split on when

The South African Reserve Bank will likely cut interest rates three more times before ending its current easing cycle, according to a survey. Most of the 14 economists canvassed by Bloomberg,... 

Crime, job prospects drive rich, skilled South Africans abroad

Concerns about crime, the future of their children and career prospects have driven more than 1-million rich and well-educated South Africans to emigrate, a new report shows. Nearly half of the 1... 

Goldman expects wave of South Africa deals fuelled by commodities

Goldman Sachs Group expects a busy year of deals for South Africa as the continent’s largest economy starts to benefit from structural reforms and rides a commodities-boom wave. “We expect activity... 

A years-long push to unite Glencore and Rio fell apart in a day

For more than a decade, it was the deal mining billionaire Ivan Glasenberg had sought more than any other: putting Glencore — the sprawling commodity trader-cum-miner he built — together with... 

Cape Town goes private to boost electricity and water supply

Cape Town will call for tenders to implement several major projects that aim at cutting electricity costs and bolstering water security in South Africa’s second-biggest city and main tourist hub.... 

Vale eyes 1Mt/y copper output

Vale’s base metals unit wants to eventually produce one-million tons of copper by developing existing assets, exceeding an output target for 2035. Major mining firms such as Anglo American and Rio... 

South Africa to raise minimum wage 5%, exceeding expectations

South Africa will increase the national minimum wage for this year by more than the rate of inflation and exceeding the expectations of businesses and analysts. The hourly minimum will rise 5% to... 

BHP risks $2bn hit from dispute with CMRG, Goldman says

BHP Group could face up to $2-billion hit from pricing pressures after China restricted its Jimblebar iron-ore, as discounts widen and lump premiums collapse, according to Goldman Sachs Group. The... 

MPC member Chris Loewald to leave Reserve Bank

The head of economic research at South Africa’s central bank is taking early retirement from the institution, reducing the number of voting members on the monetary policy committee. Chris Loewald,... 

South Africa revamps black-empowerment fund proposal, BD says

South Africa’s government will offer companies new incentives in an initiative to capitalise a fund that will be used to promote Black economic empowerment, Business Day reported, citing a Ministry... 

Goldman, Morgan Stanley’s South Africa inflation call undercuts Central Bank

Goldman Sachs and Morgan Stanley see room for the South African Reserve Bank to lower its inflation forecast for 2026, as policymakers prepare for their first interest-rate decision of the year... 

South Africa nears fiscal turning point, Treasury chief says

South Africa’s budget will show government debt stabilising relative to gross domestic product for the first time in almost 20 years, said the head of the National Treasury. It will also show a... 

Mining stocks on cusp of supercycle as AI boom stokes metals

Global mining stocks have shot to the top of fund managers’ must-have list, as soaring metals demand and tight supplies of key minerals hint at a new supercycle in the sector. With a nearly 90%... 

MTN’s Iran troubles deepen with CEO ousted over shutdown delay

Africa’s largest telecom company has become embroiled in Iran’s decision to shut down communications during this month’s deadly crackdown on protests. Authorities ousted state mobile operator MTN... 

Godongwana plays down big tax changes in South Africa Budget

South African Finance Minister Enoch Godongwana ruled out any major tax changes in next month’s budget and stressed the importance of keeping fiscal consolidation on track. “It’s not something we... 

Global solar additions to fall for first time in 2026, says BNEF

Solar installations are set to drop next year for the first time since the industry emerged as a global force two decades ago, as policy shifts and saturation in major markets temper demand. The... 

UK extends $1bn climate-pact guarantee to South Africa

The UK and the African Development Bank extended a climate-linked $1-billion debt guarantee to South Africa, saving a $400-million municipal funding deal that was in jeopardy if it had expired. The... 

AMSA, IDC reopen deal talks with nonbinding offer for mills

ArcelorMittal and South Africa’s biggest development finance institution have resumed talks over the potential acquisition of the Luxembourg-based steel giant’s operations in the African country,... 

Vale’s copper ambition is to produce 1Mt/y

Vale’s base metals unit wants to eventually produce one-million tons of copper by developing existing assets, exceeding an output target for 2035. Major mining firms such as Anglo American and Rio... 

China plants another Africa marker in campaign to globalise yuan

Zambia is the first African country to let Chinese mining companies pay taxes in yuan. It probably won’t be the last, as Beijing seeks to internationalize the currency and dilute its dollar... 

South Africa’s rand set for longest winning streak since 2002

South Africa’s rand is on a weekly winning run not seen in more than two decades as elevated precious-metal prices and an improving economic backdrop drive gains. The currency is on track for its... 

China’s CMOC bets on copper growth, maintains cobalt target

Major Chinese miner CMOC Group plans copper growth of up to double digits in 2026 after a price rally lifted profit, while maintaining guidance after record cobalt output. Copper output is seen at... 

Heavy rainfall disrupts Australian metallurgical coal supplies

Heavy rainfall in northeast Australia has triggered floods that are hampering mine operations and disrupting supplies of metallurgical coal in the region. Some coal miners have declared force... 

US accuses South Africa of cosying up to Iran with naval drills

The US criticised South Africa for allowing Iran to participate in naval drills off the coast of Cape Town, after conflicting reports about the Islamic Republic’s involvement in the exercises.... 

South Africa proposes tougher laws to monitor money flows

South Africa proposed changes to laws that would give the government stronger tools to monitor money flows and impose tougher penalties on those engaging in financial crimes. The National Treasury... 

South Africa lauds US trade-pact benefits as Senate vote looms

South Africa’s government welcomed the approval of a US preferential-trade deal before a key vote in the Senate, where Pretoria has faced opposition to its continued inclusion in the pact. The... 

BHP is stuck on the sidelines of copper M&A frenzy it started

BHP Group’s bold bid to buy rival Anglo American in 2024 was supposed to set it up as the clear winner in a copper boom it had long predicted. Two years later, the copper market is indeed booming.... 

Congo sending first copper to US under Mercuria-backed venture

The Democratic Republic of Congo is sending its first shipment of copper to the US through a partnership with Mercuria Energy Group, as the Trump administration pushes to challenge China’s... 

South Africa reviews prime rate used to price R6.2tr of credit

South Africa is reviewing the main reference rate commercial banks use to price trillions of rands of loans to clients. The South African Reserve Bank is working on the prime lending rate, it said... 

Macron presses French companies to revive investment in Africa

President Emmanuel Macron called for a renewed push by French companies and financiers into Africa, arguing that excessive regulation and corporate caution have allowed rivals to displace France... 

Rio Tinto said to be open to owning coal if it buys Glencore

Rio Tinto Group is open to retaining Glencore Plc’s massive coal business if merger talks between the two companies are successful, according to people familiar with the matter. The move would... 

Glencore says it’s in preliminary merger talks with Rio Tinto

Glencore confirmed it held preliminary discussions with Rio Tinto Group on a possible combination of some of their businesses, including an all-share merger that would create the world’s biggest... 

Canada's exports to non-US countries hit record on gold

Canada’s merchandise trade balance swung back into deficit as imports of computers and electronics outweighed a spike in gold exports to non-US countries. The trade shortfall hit C$583-million... 

South Africa hosts Brics naval exercise, risks renewed US ire

Warships from some members of the Brics group of developing nations gathered in Cape Town waters for a naval exercise that places host South Africa at risk of renewed US ire. China will lead the... 

South Africa relaxes laws to salvage firms hit by power costs

South Africa eased antitrust rules to allow competitors in industries hit by high power costs to cooperate on negotiating cheaper power supply in a bid to prevent their total collapse, a move that... 

Russia recruited South Africans for its war using a gaming app

Russia targeted South African video gamers as part of a recruitment drive for its war in Ukraine, according to documents involving two men who left to fight. The men in their 20s left South Africa...