Adelaide Changole

South Africa's new government marks its 100th day in power on Sunday, seeing the rand strength 5.8% against the dollar over the same period.

Old Mutual Ltd. will unveil South Africa’s newest bank in the first quarter of next year, intensifying competition in a nation where 85% of residents have accounts with lenders.

South Africa’s Gauteng province, home to the capital of Pretoria and commercial hub of Johannesburg, is on the brink of a water crisis as reservoir levels drop to critical lows amid ongoing heat-wave conditions.

African countries face higher costs of financing because of inflated risk perceptions from credit-ratings companies, the head of the continent’s biggest bank said.

Having to clear transactions through US or European banks burdens African businesses with delays and expenses, said Tunde Macaulay.

South African President Cyril Ramaphosa has unveiled a plan to remove harmful pesticides from the streets and shops, following the death of 22 children nationwide as a result of food poisoning.

Nedbank Group Ltd. is setting out to reinvent itself across the African continent as it looks to reduce its dependence on South Africa and nearly quadruple its profit from other African markets over the next decade.

South Africans have withdrawn 49.6 billion rand ($2.8 billion) from retirement funds since new laws came into effect three months ago giving them early access to part of their savings.

South African asset manager Ninety One Ltd. has agreed to sell a stake to Sanlam Ltd., joining a raft of investment firms that have been tapping the deep pockets of insurers through such deals.

Investec will pay its highest interim dividend on record, after the bank’s profit advanced during the six months to Sept. 30.