1) Rand Rises Most in Emerging Markets as Nedbank Sees Further Gain
South Africa’s rand rose to its strongest level in more than a year, beating every other major
emerging- market peer, as concern over the Trump administration’s ability to revive U.S. growth
hurt the dollar. The currency jumped 1.6 percent as of 1:18 p.m. in Johannesburg to 13.1208 per
dollar, the highest level since October 2015. It was its fifth straight gain and came on a day when
18 of the 24 main developing-nation currencies appreciated
2) South Africa Jobless Rate Falls From 13-Year High in 4th Quarter
South Africa’s jobless rate fell in the three months through December after reaching a 13-year high
in the preceding quarter. The unemployment rate decreased to 26.5 percent in the fourth quarter of
2016 from 27.1 percent in the previous three months, Statistics South Africa said in a report
released on Thursday in the capital, Pretoria. The median of eight estimates in a survey compiled
by Bloomberg was 27 percent.
3) Anglo American Says Chairman John Parker to Depart This Year
Anglo American Plc said Chairman John Parker will step down this year after eight years in the
role. Senior Independent Director Philip Hampton will lead a process to appoint a new chairman
with “appropriate global listed company boardroom experience,” Anglo said in a statement
Tuesday.
4) Arise Said to Have Paid Double Market Value for Cal Bank Stake
Arise (Pty) Ltd., the Cape Town-based investment company, is said to have paid double the
market value for a stake in Ghana’s CAL Bank Ltd., spending about $50 million, according to three
people familiar with the matter. Arise paid 1.46 cedis per share for its stake, the people said,
asking not to be identified because the details of the deal are confidential. The share price was
unchanged at 0.75 cedis in Accra on Tuesday.
5) Gold Gains as Dollar Dips After Flynn Quits; Yellen Set to Speak
Gold gains as dollar retreats against most major currencies after Donald Trump’s National Security
Adviser Michael Flynn resigned, while investors await Federal Reserve Chair Janet Yellen’s
testimony in Congress. * Bullion for immediate delivery +0.3% to $1,228.47 at 11:04am in London
after falling 0.7% Monday to close at $1,225.26: Bloomberg generic pricing.
6) Nampak in Talks to Make Detergent Bottles in Europe, Africa
Nampak Ltd. is in talks with consumer-goods companies about making lightweight plastic
detergent bottles in European and African markets as the drinks-packaging maker seeks
opportunities for expansion. Africa’s biggest beverage-can maker may add production capacity on
both continents if the negotiations are successful, Chief Executive Officer Andre de Ruyter, 48,
said in an interview at Bloomberg’s Johannesburg office on Friday.
7) South Africa May Boost Banks’ Capital Requirements, Arqaam Says
Capital requirements are likely to increase with current risk weighting being much lower than
emerging- market peers, Jaap Meijer and Leen Antonios, analysts at Arqaam Capital Research,
say in note to clients. * Banks’ capital needs may increase due to implementation of Basel IV,
potential sovereign-rating downgrade and higher capital charges imposed by the South African
Reserve Bank.
8) Acacia Doubles Dividend as Record Gold Output Seen Rising
Acacia Mining Plc more than doubled its annual dividend and expects gold production this year to
increase from a record after it extended the life of one of its three Tanzanian mines. The stock
climbed. Acacia, which last month said it’s in early-stage talks with rival producer Endeavour
Mining Corp., proposed a full-year dividend of 10.4 cents per share, compared with 4.2 cents a
year earlier, the London-based miner said in a statement Tuesday.
9) Mozambique Bank Plans New Rate as Card-Spending Curb Ends
Mozambique’s central bank will introduce a prime lending rate in two months and immediately
removed a curb on how much citizens can spend overseas using their bank cards. The introduction
of the new rate on April 15 “is intended to strengthen the mechanism for the formation of interest
rates on the market as a whole and to make it more transparent,” Governor Rogerio Zandamela
told reporters Monday in the capital, Maputo..