Barloworld to issue sub-divided stock to shareholders

(Reuters) - South African industrial group Barloworld will distribute 1.8555 PPC subdivided shares for every one ordinary share held by its shareholders, it said on Thursday.

The share subdivision follows plans by Barloworld to spin-off subsidiary Pretoria Portland Cement Company Ltd. (PPC), which the firms have previously said would be done by July 16, subject to regulatory approvals.


Read more at Reuters Africa

S.Africa's Mboweni warns interest rate "too low"

(Reuters) - South Africa's central bank Governor, Tito Mboweni, warned on Wednesday that interest rates may be too low, hinting they may have to rise again in Africa's biggest economy.

"Maybe we have been far too nice to our people and interest rates have been too low," he told a dinner in Pretoria, adding that inflation data released on Wednesday was disappointing.


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South African Government Bonds Little Changed Before Central Bank Meeting

(Bloomberg) -- South African government bonds were
little changed before the start of the central bank's policy
meeting, at which it may say one interest-rate increase will be
enough to bring inflation back within target.

The Pretoria-based South African Reserve Bank today starts
its two-day policy meeting and will probably lift its benchmark
lending rate 50 basis points tomorrow, according to economists in
a Bloomberg survey. Debt dropped by the most in almost a year
last week after a government report showed inflation breached the
bank's target in April.


Read more at Bloomberg Bonds News