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The JSE is set to get a new listing, although just a secondary one, with UK property firm Primary Health Properties saying it believes SA investors are interested in its model of long-term leases for mostly government tenants. Standard Bank and agribusiness focused Zeder managed to please the market with their updates, while global e-commerce Amazon has finally confirmed its launch in SA in 2024.
US tech giant Amazon has confirmed it will launch amazon.co.za, the company's online marketplace, in 2024. Independent sellers can register their businesses on Amazon from Tuesday, with the move ending months of speculation its entry was imminent. Amazon Web Services has been operating in the country since 2020, the company sent out job adverts for key positions for launching its marketplace in 2022, and the locations of two of its South African distribution sites appeared to have been leaked online earlier this year.
Ninety One, the asset manager spun out of Investec in March 2020, continues to experience a steady decline in its assets under management (AUM). The group, which is listed in London and Johannesburg and publishes its results in pounds, released its quarterly AUM update on Tuesday showing the assets it oversees on behalf of clients fell 1.4% to £123.1 billion (R2.8 trillion) at end-September 2023 relative to the end of June. It is also 4.8% lower than the £129.3 billion at end March and 7% from the same period in 2022. Though Ninety One’s quarterly AUM update did not provide detail on what is driving the steady decline in AUM, the group told News24 that it was "a reflection of markets, currency movements and net flows", and not dissimilar to the pressure on other asset managers. Ninety One added that would provide more detail on both its AUM and net flows when it publishes its results for the six months to end September 2023 on 15 November. The group's shares, however, were up marginally in afternoon trade and are little changed for the year to date.
