Looted SA funds will be recovered: Investors ready to back SA; Anglo, De Beers, Woolies, Discovery
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In today's business headlines:
- President Cyril Ramaphosa says those who have stolen money from South Africa needed to be tracked down no matter where in the world they are;
- Goldman Sachs new head, Jonathan Penkin says investors would be delighted to jump back into South Africa if the government made progress on structural reforms that would enable Goldmans to help draw foreign capital to the country;
- Anglo American’s full-year profit climbed 9% before EBITDA, rising to $10bn in the year to December from $9.16bn a year ago;
- De Beers posted the lowest profit since the end of the diamond monopoly with profits down 50% in 2019;
- The share price of Discovery rose by almost 7% yesterday after a drop of 8% earlier this week when the group warned profits would drop by as much 13%; and
- Woolworths reported a 17.7% drop in half-year earnings dragged down by weak womenswear sales and a poor Black Friday showing.
- President Cyril Ramaphosa says those who have stolen money from South Africa needed to be tracked down no matter where in the world they are;
- Goldman Sachs new head, Jonathan Penkin says investors would be delighted to jump back into South Africa if the government made progress on structural reforms that would enable Goldmans to help draw foreign capital to the country;
- Anglo American’s full-year profit climbed 9% before EBITDA, rising to $10bn in the year to December from $9.16bn a year ago;
- De Beers posted the lowest profit since the end of the diamond monopoly with profits down 50% in 2019;
- The share price of Discovery rose by almost 7% yesterday after a drop of 8% earlier this week when the group warned profits would drop by as much 13%; and
- Woolworths reported a 17.7% drop in half-year earnings dragged down by weak womenswear sales and a poor Black Friday showing.
