Rolex has closed its affiliate office in Sandton, Johannesburg, adding to the growing list of international companies that are scaling back or exiting South Africa., the luxury Swiss watch manufacturer is closing its office because the local markets and conjuncture have changed, no longer warranting the presence of an official Rolex affiliate.
Shell plans to sell its downstream business in South Africa, which includes 600 petrol stations in the country, as part of a broader restructuring. The group will still, however, operate its upstream business across the country.Moreover, BNP Paribas, the sixth largest bank in the world, is no longer conducting the business of a bank via a branch in South Africa.
However, BHP said that the move was not an indictment of South Africa but rather due to its commodity and portfolio needs, with the group primarily targeting Anglo American’s copper business.It should be noted that South Africa is still considered an attractive destination for many international investors.
Source: News Formal (newsformal.com)
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa: Xenophobic Narratives Surge Ahead of South Africa's ElectionsAs South Africa's general elections on May 29th draw near, anti-immigrant rhetoric is intensifying across social media platforms, according to a new report from the Centre for Analytics and Behavioural Change (CABC).
Source: allafrica - 🏆 1. / 99 Read more »
South Africa: Analysis Reveals Polarized Views on South Africa's Electoral ProcessA new report by the Centre for Analytics and Behavioural Change (CABC) sheds light on the polarized online conversation about South Africa's upcoming elections. The report, titled 'Bi-Weekly Social Listening Updates & Recommendations for Electoral Engagement 7,' analyzed over 350,000 mentions between April 16 and April 30, 2024.
Source: allafrica - 🏆 1. / 99 Read more »
South Africa: Science Journalism in South Africa - Social Media Is Helping Connect With New ReadersAnalysis - Science journalism is about taking complex academic research and turning it into easy-to-read content that is still accurate. Aside from informing readers through evidence-based journalism, it aims to make the wider public curious about scientific research.
Source: allafrica - 🏆 1. / 99 Read more »
Source: mailandguardian - 🏆 2. / 92 Read more »
South Africa: Search Continues for Survivors of Building Collapse in South AfricaThe search continued Tuesday in South Africa for workers trapped in the collapse of a multi-story building under construction outside of Cape Town that left at least four people dead.
Source: allafrica - 🏆 1. / 99 Read more »
South Africa: SABC Editor-in-Chief Called for Security Vetting and Polygraph Before South Africa ElectionThe Committee to Protect Journalists on Monday expressed alarm that South Africa's spy agency wants to subject Moshoeshoe Monare, the editor-in-chief of the South African Broadcasting Corporation (SABC), to additional security vetting and an invasive lie-detector test ahead of the country's crucial May 29 general election.
Source: allafrica - 🏆 1. / 99 Read more »