Tourism up, but EU firms can’t get no satisfaction

MORE than 10 million international tourists arrived in South Africa last year‚ 13% more than in 2015‚ Stats SA figures show. This is well over the global average growth rate of 3.9% for the period. The UK remained the leading source market for overseas arrivals.

ANGLOGOLD Ashanti lifted force majeure on its Ghanaian Obuasi mine after the removal of thousands of illegal miners, but said it was too early to determine the extent of damage to the loss-making, mothballed operation.

RETAILER Shoprite reported a 15.5% jump in half-year profit, buoyed by sales growth in Angola and Nigeria, reassuring investors after a merger with Steinhoff foundered. In South Africa, sales grew 14% to R71.3-billion.

ESKOM agreed to go easy on municipalities that owe it billions of rands in outstanding debt, signing new payment agreements with the councils. The municipalities will have more time to repay their debt and will have the interest cut.

SATISFACTION by European investors in South Africa has deteriorated significantly since 2012. This was the finding of the 2016 business climate survey conducted among 211 Europe-owned firms by the EU Chamber of Commerce and Industry of Southern Africa.

NON-compliance with parliament’s guidelines on the declaration of members’ interest came under the spotlight when it emerged that 14 MPs had declared their interests late without providing reasons.

TRANSPORT and logistics group Imperial posted a 15% drop in first-half headline earnings per share to R6.82 due to foreign-exchange losses and higher finance costs. The interim dividend fell 14% to R3.20c a share.

GROUP Five posted an interim loss and declared a much lower dividend — 14c a share from 42c — due in part to costs associated with a deal reached with the government last year to fast-track transformation in the construction sector.