Former Steinhoff Chief Executive Markus Jooste and seven others were involved in a 6.5 billion euro ($7.4 billion) accounting fraud at the South African retailer, the new CEO said told lawmakers on Tuesday. Steinhoff said on Friday an independent report …
South African insurer Discovery could expand through acquisitions in the future but must first work out how its innovative fluctuating premiums, based on clients’ lifestyle behaviors, could be applied to more traditional businesses. Discovery has spent more than two decades …
FirstRand Ltd. is emulating Amazon.com Inc. with a digital offering that will span everything from insurance, car license renewals to locating plumbing services as the South African bank chases new revenue sources. Africa’s biggest lender by market value is pushing …
Sanlam Ltd., Africa’s largest insurer by market value, said it fulfilled all the conditions for the $1.1 billion purchase of the shares it doesn’t already own in Morocco’s Saham Finances SA after regulators approved the deal. The Cape Town-firm’s biggest …
KPMG LLP is continuing to lose staff and clients in South Africa more than a year after issuing a public apology for some of the work it did in the country, according to people familiar with the matter. A team …
Cape Town’s water crisis, which saw the drought-hit city come within 90 days of turning off the taps earlier this year, highlights the threats to South African companies from a repeat event and should serve as a warning to vulnerable …
South Africans are paying too much for private healthcare, the country’s antitrust watchdog said on Thursday, adding patients are sometimes prescribed treatments they don’t need by an industry with limited competition. Presenting its findings of a four-year investigation into the …
South Africa’s prodigal insurer returned home to a lukewarm welcome on Tuesday. Old Mutual Ltd. started trading its stock in Johannesburg at 28.50 rand before swinging between 28.20 rand and 29.39 rand. The listing — done in conjunction with others …
Insurer Liberty Holdings faced questions from South Africa’s Information Regulator on Monday, a day after the company said it had become the victim of a cyber attack. The regulator said it was concerned about the data breach and wanted to …
Liberty Holdings Ltd., the South African insurer midway through an overhaul to improve profit, said it refused a ransom demand after hackers breached its information-technology infrastructure and accessed some emails. The stock fell the most since April 4. “We did …
