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.
Transnet SOC Ltd., South Africa’s state transport company, defended its monopoly of the country’s eight ports and said it would make no sense for private operators such as France’s Bollore SA to enter the market.
An end to sugar quotas in the European Union, expected by the EU Council as early as 2017, may promote trade of the sweetener within Africa as Ethiopia and Nigeria plan to raise output, said Ecobank Transnational Ltd.
Swaziland, where the government is running out of cash to pay its workers, will keep its currency peg with South Africa’s rand as it seeks funding to boost foreign exchange reserves, central bank Governor Martin Dlamini said.
Labor unions in Swaziland, sub- Saharan Africa’s last absolute monarchy, vowed to keep pressure on the government to move to a democratic system after a police crackdown forced them to call off a third day of demonstrations.
Afrisam Ltd., a South African cement maker majority-owned by the Public Investment Corp., plans to expand in the rest of Africa after overhauling its debt, Chief Executive Officer Stephan Olivier said.