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South African News and Market Update: Spar slips more than

Spar's share price fell more than 7% on Wednesday after the company reported weak financial results for the 2021 financial year ended September 30. While the group described its "robust performance" despite "numerous challenges" during the year, the market reacted to the fact that it could only report revenue growth of 2.9% (to R127.9 billion). "Mixed performance across the regions resulted in an operating profit of R3,4 billion, down 1,5% on the previous year," the group said in its Sens results statement. "At constant exchange rates, revenue increased 3.9%, highlighting the impact of the stronger rand on the

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South African News and Market Update: Vodacom adds 6,2 million

Vodacom Group - the JSE-listed telecoms giant that is looking to transform itself into a technology company - announced in its latest results released on Monday that the company added 6.2 million new customers in the six months ended 30 September 2021. This is across the group's business in Africa, including Safaricom on a 100% basis. This addition brings Vodacom's customer base to 129.9 million, within striking distance of the 130 million mark, which is likely to be surpassed in the current financial year. South Africa's largest mobile network operator also said in the results that it had added an additional 1.1 million data

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