Tongaat Hulett Ltd., South Africa’s second-largest sugar producer by market value, reported full- year profit that missed analyst estimates as earnings growth slowed amid a decline in world sugar prices.
PetroChina Co., the country’s biggest oil and gas producer, will seek to increase cooperation with companies including Exxon Mobil Corp., BP Plc and Royal Dutch Shell Plc as it looks to add overseas resources.
Massmart Holdings Ltd., the South African food and general goods retailer controlled by Wal-Mart Stores Inc., expects sales growth to remain subdued as the economy slows and rising inflation weighs on consumers.
Democratic Republic of Congo’s army fired mortars and used helicopter gunships against rebel targets near the eastern city of Goma for a second day, spokesmen for the rebels and the United Nations said.
Chesapeake Energy Corp. is hiring an Anadarko Petroleum Corp. engineer who oversaw oil projects around the world to slash costs and transform a corporate culture forged by Chesapeake’s wildcatting co-founder.
Vodacom Group Ltd., South Africa’s largest wireless operator, plans to begin operating in three additional countries by the end of 2014 as it seeks to bring data services and smartphones to new markets.
Co. will introduce mobile-banking platform in Mozambique, Lesotho, CEO Shameel Joosub says in interview in Johannesburg. * M-Pesa will one day contribute 15% of group revenue: CEO * Will reintroduce M-Pesa in S. Africa under new model in coming months: CEO * Co. Looking at small bolt-on acquisitions: CFO tells presentation *NOTE: Vodacom FY profit gained 23% in yr to end March *NOTE: M-Pesa already in use in Tanzania, Congo *NOTE: Vodacom in talks to buy Tata Communications’ Neotel unit, a person familiar with the talks said May 17 Link to Company News:VOD LN <Equity> CN <GO> Link to Company News:VOD SJ <Equity> CN <GO>
Barloworld Ltd., a supplier of construction equipment to Sasol Ltd. and BHP Billiton Plc in South Africa, said the weak rand is positive for the company because it has a number of dollar-based overseas contracts.