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South Africa

Sasol announces new R21bn empowerment deal, with Inzalo under water as it nears its end

BY ALLAN SECCOMBE AND CHARLOTTE 

Sasol, the coal-to-liquid fuel maker, unveiled a fresh R21bn empowerment scheme for its South African assets, after the first scheme was under water as it approached the end of its vesting period. In an enormously complicated transaction, Sasol is terminating its Inzalo empowerment scheme and replacing it with the Khanyisa transaction, which will result in at least 25% black ownership of Sasol’s wholly owned subsidiary, Sasol South Africa, for 10 years from 2018. Sasol shareholders need to approve the transaction, which includes an employee share ownership scheme, public investment in the company’s shares, 54 selected customers, suppliers, franchisees and nongovernmental organisations as well as a foundation.

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EOH reports big jump in full year earnings and profit

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Listed IT service company EOH has published its final results for the year ended July 2017. The company reported that annual revenue increased by 21% to R15.5 billion (from R12.8 billion previously) while gross profit grew to R5.1 billion (2016: R4.1 billion). Operating profit before interest and share of equity-accounted profits rose to R1.8 billion (2016: R1.4 billion), while profit attributable to owners jumped to R1.2 billion (2016: R0.9 billion). Headline earnings per share were higher at 832 cents per share (2016: 719 cents per share).

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Research: Unpacking Nigeria’s agriculture opportunities

by 

Growth in the urban population of Africa can potentially lead to a US$1tn regional market for African producers by 2030. Agriculture and food processing are vital for creating this $1tn industry. Food processing is any intentional change in food occurring before consumption. Changing consumer demographics related to lifestyle changes, urbanisation, and tourism is resulting in an increased demand for convenience and processed foods. However, Africa’s agriculture and agribusiness industry is underperforming, providing opportunities for investors to benefit from this huge market.

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