Government has welcomed Fitch’s decision to affirm South Africa’s long-term foreign and local currency debt ratings at “BB-” and maintain the stable outlook. According to Fitch, South Africa’s credit rating is constrained by several factors, including low real gross domestic product (GDP) growth, high poverty and inequality levels, a high and rising government debt-to-GDP ratio,…
Miguel da Silva, Group Executive: Business Banking at TymeBank, examines the developments affecting South Africa’s SMEs as international finance leaders gather in Johannesburg. Johannesburg Hosts Global SME Finance Forum Alongside G20 Proceedings The Global SME Finance Forum takes place in Johannesburg from 15 to 17 September, bringing together more than 1 200 participants from over…
MTN South Africa has revised its mid-term service revenue guidance downwards as the operator faces stiffer competition in its home market, despite a positive upswing in its operations in the rest of Africa. The business “continues to navigate an environment characterised by elevated competitive intensity and ongoing pressure on consumers”, MTN Group said in its…
Sign at the entrance to the Puma store in Midtown Manhattan. Erik Mcgregor | Lightrocket | Getty Images Puma shares plummeted as much as 18% Friday after the German sportwear brand posted worse-than-expected second-quarter sales and cut its full-year guidance, flagging the impact of U.S. trade tariffs. In a preliminary updated after markets closed on…
