{"id":808726,"date":"2025-01-27T13:00:00","date_gmt":"2025-01-27T11:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=808726"},"modified":"2025-01-27T12:26:38","modified_gmt":"2025-01-27T10:26:38","slug":"chinese-canadian-swiss-and-other-international-giants-snapping-up-south-african-companies","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/808726\/chinese-canadian-swiss-and-other-international-giants-snapping-up-south-african-companies\/","title":{"rendered":"Chinese, Canadian, Swiss and other international giants snapping up South African companies"},"content":{"rendered":"\n

Several international companies are purchasing South African-based businesses, with the outlook on the economy improving substantially from a year ago. <\/p>\n\n\n\n

2024 saw several international companies close or cut back on their operations in South Africa. <\/p>\n\n\n\n

As per a global strategy, French-based BNP Paribas stopped operating as a bank in South Africa in early 2024. <\/p>\n\n\n\n

UK-based bank HSBC also announced the sale of parts of its South African business to FirstRand and Absa. <\/p>\n\n\n\n

Shell announced that it would sell its downstream business in South Africa, which includes its network of petrol stations. <\/p>\n\n\n\n

Anglo American also announced its plans to unbundle Anglo American Platinum amidst a challenging period for the Platinum Group Metals (PGM) sector. <\/p>\n\n\n\n

Streamer Britbox also stopped operating in South Africa, while Rolex closed its official affiliate in South Africa. <\/p>\n\n\n\n

These announcements came amidst a mixed period for South Africa, with the economy expected to now grow by under 1% in 2024. <\/p>\n\n\n\n

However, amidst the drop in load shedding and the formation of the Government of National Unity (GNU), investor sentiment improved dramatically in South Africa.<\/p>\n\n\n\n

South African equities, bond yields and the rand all saw a strong performance in the second half of the year. <\/p>\n\n\n\n

Although there has been heightened volatility since the return of US President Donald Trump, South African assets have been relatively stable compared to their emerging market counterparts. <\/p>\n\n\n\n

Thus, despite the announcements of several closures in 2024, there have also recently been several international companies expanding their presence in South Africa through acquisitions. <\/p>\n\n\n\n

This includes: <\/p>\n\n\n\n