South Africa's Vodacom Group said on Friday its proposed acquisition of a 30% stake in fibre network operator Maziv could value the target company at up to 36 billion rand ($2 billion) after agreeing revised terms.

Petrol price recoveries are holding firm, but diesel drivers could be facing even more trouble in the months ahead as global supplies come under pressure.

The rand climbed to a 13-month high on Friday, riding a wave of optimism about South Africa’s economy and also buoyed by expectations of imminent Federal Reserve interest-rate cuts.

South Africa's Valterra Platinum expects to report a sharp fall in first half profit by as much as 88% due to lower output and sales as well as one-off costs related to its demerger from Anglo American Plc group,