South African News and Market Update: Fledge Capital announces 25% stake in sports nutrition brand USN, and more

 South African News and Market Update: Fledge Capital announces 25% stake in sports nutrition brand USN, and more

South African News and Market Update.

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The local stock market closed weaker on Friday, tracking global markets as most sectors lost their gains from the previous days. The benchmark All-Share index fell 1.01% to 75,160 points and the blue-chip Top 40 index closed 1.07% lower at 68,448 points. However, for the week, the indices were still higher by almost 1.6%, due to a sharp rise in technology, commodity and banking stocks in the middle of the week. The price of the government’s benchmark 2030 bond fell on Friday, with the yield down 0.75 basis points to 9.36%.

The rand gained on Friday, but gave back some of its initial gains as the dollar regained some ground. Investor sentiment and trading movements have fluctuated since the beginning of the year due to uncertainty about the extent and exact timing of possible monetary tightening in the United States. The rand was trading around R15.39 against the dollar at the close of trading, 0.17% firmer.

Gold prices slipped this morning as U.S. Treasury yields rose on aggressive signals from the Federal Reserve and markets began to price in an earlier-than-expected reduction in the size of the balance sheet. Meanwhile, oil prices rose early today, with Brent crude hitting its highest level in more than three years, as investors bet that supply will remain tight amid restrained production from major producers and global demand unaffected by the Omicron coronavirus.

Fledge Capital announces 25% stake in sports nutrition brand USN

Independent investment firm Fledge Capital has announced a 25% stake in sports and exercise nutrition brand Ultimate Sports Nutrition (USN). The firm has an investment portfolio of R2.3 billion and favours consumer brands with broad appeal such as WeBuyFurniture, Oasis Water, King Price, Atterbury Property Investment, BetterBond and Genric Insurance. Its previous investments have included Dis-Chem, WeBuyCars, Burger King and The Club Surgical Centre. According to the two companies, Fledge’s investment will expand USN’s capabilities to meet strong international demand for its high-quality sports nutrition and wellness products.


For the quarter ended December 31, 2021, total retail portfolio occupancy increased by 10,500 sq. ft. (2.6%), while average closing rent increased by 1.6% (annualised 6.3%) and 1.5% (annualised 6.0%) at SA and in the United Kingdom, respectively. In SA, occupancy growth in the quarter was 12,200m² (3.9%), driven by strong demand from both residential and commercial customers. Occupancy growth in the quarter was approximately 8.0% higher than the corresponding quarter last year. In the UK, occupancy declined by 1,700 m², reflecting the impact of seasonality. The UK self-storage market is subject to greater seasonality than the SA market, with the fall and winter months traditionally a slower trading period.

Mandy Nunes

Mandy Nunes is the Chief Marketing Officer for GV Markets. With 15 years of experience in the Financial Services Industry within the South African market, she has held various responsibilities within the business development, marketing, operations and regulatory space – leading to a very fitting position within the Trading and Investment environment. Mandy has notably been the editor of 'The Ordinary Millionaire', along with having written numerous pieces within the industry at large. Holding both legal and wealth management qualifications, her goal is to bring about massive success for, and within, GV Markets. GV Markets is a South African forex and CFD broker that offers comprehensive trading solutions to both retail and professional traders. GV Markets prides itself in being a well-regulated and reputable STP brokerage that works according to a No-Dealing Desk trading model, offering traders access to some of the best liquidity providers in the country.

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