🇿🇦 Johannesburg Stock Exchange

In response to a range of corporate scandals, speculation and innuendo that have characterised South African financial markets over the past year, the Johannesburg Stock Exchange (JSE) is embarking on a public consultation process. For the JSE, the events of the past year have highlighted the need for it to review its responsibilities and to strengthen regulation around primary and secondary listings.

Naspers (JSE:NPN) announced its intention to list its Video Entertainment business separately on the Johannesburg Stock Exchange (JSE) and simultaneously to unbundle the shares in this business to its shareholders. The new company will be named MultiChoice Group and will include MultiChoice South Africa, MultiChoice Africa, Showmax Africa, and Irdeto.

Fitch Ratings has placed the ratings of MTN Group Limited (JSE:MTN, GSE:MTNGH), including the 'BB+' Issuer Default Rating (IDR), on Rating Watch Negative (RWN) following announcements that Nigerian authorities put forward USD10.1 billion of claims to the company related to alleged tax violations and illegal cash repatriations from the country.

Moody's Investors Service ("Moody's") has today placed MTN Group Limited's (JSE:MTN, GSE:MTNGH) Ba1 corporate family rating (CFR), Ba1-PD probability of default rating (PDR) and the Aa3.za national scale corporate family rating on review for downgrade. Moody's has also placed the Ba1 rating on all the senior unsecured notes issued by MTN (Mauritius) Investments Limited on review for downgrade.