Company News in Brief

South African rand little changed with focus on local CPI, interest rate meeting The South African rand was little changed in early trade on Tuesday, as domestically focussed investors awaited the release of inflation data and an interest rate decision later this week. "If anything, the ZAR is disappointing in its movements at the moment. Data shows that the performance of the ZAR is heavily linked to the interest foreigners show in South Africa’s bond market," ETM Analytics said in a research note.South Africa 's benchmark 2035 government bond was slightly weaker, as the yield rose one basis point to 9.225%, after shedding 12 basis points on Monday, trading around its best level since 2018.ETM Analytics said the boost came from a survey which showed that longer-term inflation expectations dropped to a record low, after the South African Reserve Bank (SARB) said it would aim for a lower inflation target."The survey highlighted how the SARB has already achieved some success in forcing inflation expectations lower, which has attracted more flows into the bond market and, by extension, the ZAR," the note read.It added that the rand will take further guidance from the Federal Reserve and SARB rate decisions this week and the relative carry trade that might follow.-REUTERS IMF prolongs Zambia programme by three months, will discuss longer extension The International Monetary Fund 's executive board has approved a three-month extension of Zambia 's loan programme, the fund said on Monday, and a request for a longer extension will be discussed later.The IMF said in a statement that the three-month extension to January 30, 2026, would allow sufficient time to complete a sixth review of Zambia 's Extended Credit Facility and "lay the groundwork for future programme engagement".Felix Nkulukusa, secretary to Zambia 's Treasury, said a request for a one-year extension would be discussed at the time of the sixth review.The fund 's board approved the copper-producing country 's 38-month programme in August 2022, supporting its efforts to get its public finances back on track.Zambia defaulted on its external debt in 2020 after years of unsustainable borrowing but battled its way to a restructuring deal with its primary creditors last year. It is still seeking to agree restructuring terms with some smaller creditors.So far Zambia has received about $1.55 billion under the $1.7 billion Extended Credit Facility.-REUTERS MultiChoice reorganisation beginsSouth African pay-TV giant MultiChoice has notified shareholders that the agreements necessary to implement the company’s reorganisation have now become unconditional and will begin.“As previously advised, the reorganisation is to be undertaken in order to enable the implementation of Canal+’s mandatory offer for MultiChoice,” the company said.“It forms part of the conditions imposed by the South African Competition Tribunal when approving the mandatory offer.”MultiChoice said an updated timetable for the mandatory offer will be released once the implementation of the Reorganisation has been concluded.French media conglomerate Groupe Canal+ was compelled to make an offer to acquire all MultiChoice shares after it exceeded the 35% shareholding threshold in the South African Companies Act.-MyBroadband

Company News in Brief

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Namibian Sun 2025-09-17

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Company News in Brief

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Namibian Sun 2025-09-17

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