Business News 09 March 2020

As South Africa confirmed its second case of COVID-19, local companies continued to warn of the risk the corona virus poses, directly and indirectly. For Standard Bank, it is another factor that will weigh on global economic growth this year as well as sentiment. Aspen Pharmacare will feel the effect more directly as it makes active pharmaceutical ingredients in China and says its commercial team there has been largely inactive since last month. While its inventory holdings are sufficient for now, it’s keeping a close watch.

Standard Bank released annual results and Aspen published its interim numbers. Momentum Metropolitan Holdings was also out with results that show a continued improvement under its three-year Reset and Grow strategy. Santam, however, was hindered by higher claims due to catastrophes and crop damage early last year.

	Standard Bank stifled by economic malaise
	The banking group says its core operations proved resilient despite difficult trading conditions.
	Aspen keeping a watch on COVID-19
	The group says excluding the potential impact of the coronavirus, it has set a strong solid base for its full-year performance.
	Momentum Metropolitan gains traction
	Halfway through its Reset and Grow strategy, the insurance group had delivered a double-digit increase in earnings.
	STADIO beats prelisting forecasts
	The higher education group grew student numbers last year despite a decline in enrolments at Milpark Education.
	DealMakers AFRICA Annual Awards 2019
	On March 3 2020, DealMakers AFRICA held its second standalone awards Nairobi to celebrate the achievements of the advisory firms in East and West Africa.
	Who’s doing what this week in the South African M&A space?
	Weekly summary of Merger & Acquisition activity by South African companies.