Star 2025-09-10

SPAR Group has signed an agreement to sell its shareholding in SPAR Switzerland to Tannenwald Holding, a privately held Swiss investment company, for CHF46.5 million, about R1.03 billion. SPAR Group’s share price went up 4.3% to R109.35 on Tuesday morning, a price that is 10.4% lower than the R122.14 it traded at a year earlier. The increase indicates the disposal was likely favourably received by investors. SPAR’s major shareholders include the Public Investment Corporation, M&G Investment Management, Coronation Fund Managers, Allan Gray, Old Mutual Investment Group, and Ninety One. The transaction marks the finalisation of SPAR’s European portfolio review, with only the UK process still underway, and is a step towards optimising capital allocation and strengthening the balance sheet. SPAR Switzerland operated or supplied goods to 252 stores as of…

South Africa’s economy gained momentum in the second quarter of 2025 as it delivered its strongest growth in two years, largely driven by strong production side, household consumption and softer imports. Data from Statistics South Africa (Stats SA) on Tuesday showed that real gross domestic product (GDP) expanded by 0.8% between April and June following a marginal increase of 0.1% in the first quarter. Stats SA’s chief director for national accounts, Dr Bokang Vumbukani-Lepolesa, said eight out of 10 industries registered growth, with manufacturing contributing the most, followed by mining and trade. Vumbukani-Lepolesa said the agriculture, forestry, and fishing sector saw a 2.5% rise during the period, thanks to stronger activity in both horticulture and animal products. “After two consecutive quarters of decline, manufacturing and mining turned positive. Manufacturing production…

Limpopo’s provincial government has put its best foot forward to attract investment from multilateral financial institutions for critical infrastructure development projects that could yield economic growth and create jobs, including the protracted intra-provincial high-speed railway project. This comes as Premier of Limpopo, Dr Phophi Ramathuba, participated in the ongoing Intra-African Trade Fair 2025 (IATF2025) in Algeria this week where she made a business case for the province to prospective investors. Business Report witnessed a closed-door meeting on Saturday Ramathuba had with Denys Denya the executive vice president of the African Export-Import Bank (Afreximbank), which organises the IATF. In an interview, Ramathuba confirmed that the IATF2025 allowed the provincial government the opportunity to engage with the bank and gave some details about what they engaged on. “We had a one-on-one session…

Shareholders will receive a R73-per-share special dividend on top of other benefits South African shareholders in Anglo American will receive a R73 per share special dividend in addition to other economic benefits after the global miner agreed to a tie-up creating a merged entity with Teck Resources more than a year after turning down an offer from BHP. Teck Resources is a Canadian mining company. Its merger with Anglo American will be under a merger of equals is expected to yield $800 million in pre-tax recurring annual synergies. South African shareholders in Anglo American stand to get a windfall from the transaction, said analysts. Anglo American has been re-strategising after it rebuffed a buyout offer from BHP. “South African shareholders will receive the economic benefits of the merger without paying…

Mmakgoshi Lekhethe, the first female CEO of the Industrial Development Corporation (IDC), is a trailblazing leader who officially took office in February 2025. Her star shines bright. In an interview with Business Report, shortly after presenting the IDC’s annual results, Lekhethe reflected on the path that led her to head one of South Africa’s most influential development finance institutions. The IDC’s mandate is to drive sustainable economic growth and build inclusive economies by promoting industrialisation, supporting entrepreneurship, and fostering job creation, particularly for black-owned businesses, women, and youth. Lekhethe was born in Lydenburg, Mpumalanga. She grew up in a family of five children, the only girl among four brothers. At the age of five, she moved with her family to Burgersfort, a small mining town in Mpumalanga. Her mother was…

The Department of Trade, Industry and Competition (the dtic) has announced a significant regulatory measure aimed at aiding exporters as they grapple with new tariffs imposed by the United States. This is as the US additional tariffs require exporters to coordinate their activities in developing joint infrastructure for exports, sharing of market information and coordination of activities to achieve economies of scale and efficiencies that enable them to be competitive, which may have contravened the Competition Act. During the 19th Annual Conference on Competition Law, Economics and Policy on Tuesday, deputy minister of the dtic, Zuko Godlimpi, revealed that the newly introduced Block Exemption for Exporters will allow businesses to collaborate effectively, without contravening the Competition Act. Godlimpi said the Competition Commission has contributed to policy changes in response to…