South Africa’s neighbour, Zimbabwe has secured a loan of $193.3 million from South Africa’s Standard Bank, its Zimbabwean unit and Absa Group. The money is set aside to finance public hospitals and clinics, Finance Minister Mthuli Ncube said. BusinessTech Africa has learned that treasury, through the Zimbabwe Debt Management Office negotiated the Export Credit insurance Corp of South Africa-backed sovereign loan. Moneyweb reports that Ncube said in an emailed statement and that the funds will be used to build five district hospitals and 22 health centres across the country’s 10 provinces. “The project is due to start in June and…
Author: Beloved Mutikani
Transnet Pipelines has successfully delivered jet fuel from Durban, in KwaZulu-Natal, directly to OR Tambo International Airport (ORTIA), in Gauteng. The state-owned rail company has done this project for the first time since the commissioning of the 24-inch Multi-Product Pipeline in 2012. Media reports indicate that this follows the successful commissioning of the accumulator tanks at Jameson Park, in Gauteng, to receive the product and the repurposing of an existing line between Alrode and the airport. Engineering News reports that the jet fuel arrived at the airport on specification, going entirely through the Transnet pipeline system, and is an additional…
Zambian privately owned airline Proflight Zambia has announced that it will resume scheduled flights between the central southern African country’s capital, Lusaka, and Durban. The flight between South Africa’s third major metropolitan hub city and Lusaka is set to boost the airline. Durban is known as South Africa’s number one port and major tourist destination as it is located in the province of KwaZulu-Natal. The flights will restart on April 6 and will be operated twice weekly, initially on Thursdays and Sundays, although the Sunday flights will only start on April 16. BusinessTech Africa has discovered that there will be…
The founder of Lukhele Mobile, Sifiso Lukhele says he always believed that there is a gap for Africans to build mobile phones. Lukhele’s company started out as a mobile device company with its primary focus on manufacturing and marketing mobile devices with FINTECH capability.The company has now evolved onto the Network side as a channel partner to CommScope, Mavenir, and Diplomat Communication. IOL Business has it that telecommunications has been part of Lukhele’s adult life since he started working at MTN South Africa in 1998.“As a service-oriented person, I have always believed that as mobile networks evolved, there have been…
The South African parliament has approved a bill on electricity regulation designed to clear the path for private generation projects and power trading. BusinessTech Africa understands that the country’s power utility, Eskom has provided more than 90% of the electricity used by the most industrialized nation on the continent for over 100 years. The Electricity Regulation Amendment Bill outlines a private entity to buy power as a step toward establishing a competitive market. “The Draft Electricity Amendment Bill has been approved for submission to parliament and will be prioritised, Minister in the Presidency Khumbudzo Ntshavheni told reporters in Pretoria, the…
Johannesburg Stock Exchange-listed retailer Woolworths has told its shareholders that Group Finance Director Reeza Isaacs has resigned. The JSE-listed retailer said Isaacs’s decision to step down from the position was to pursue new interests, after a decade with the group. On Wednesday, Woolworths reported to the market that Isaacs will have his last day in office on June 30, 2023. Media reports filtering through to BusinessTech Africa suggest that Isaacs’s departure will also see him stepping down as executive director and a member of the group’s Treasury Risk, Information, and Technology Committee. In addition, the retailer has since appointed chartered…
German-headquartered carmaker BMW has unveiled a new logo in South Africa to mark its 50-year celebrations. The luxury automaker has released a new logo and it is a brand new Ndebele art-inspired marketing BMW South Africa emblem. To mark this milestone, BMW released the emblem that is inspired by a work of art crafted by South African traditional Ndebele artist Dr. Esther Mahlangu. The new logo will be used in all communication of BMW Group South Africa’s fiftieth-anniversary celebrations throughout this year. BMW South Africa’s Rosslyn factory, in South Africa, started operations in March 1973 after the German vehicle manufacturer…
RCL Foods has secured a massive deal as it will sell its frozen logistics business Vector Logistics for a whopping R1,25 billion. The company will sell to Denmark-based company, AP Moller Capital as BusinessTech Africa understands – the deal is subject to several approvals. Owned by Remgro, RCL Foods has confirmed the news and AP Moller Capital is a fund manager that focuses primarily on Africa and Asia. It is part of AP Moller Holdings, which is also the parent of logistics and shipping giant AP Muller – Maersk. News24 Business reports that Vector Logistics owns cold storage facilities in…
South African retailer Shoprite has unveiled a stand alone clothing store in Cape Town and this was announced on Thursday. The country’s biggest grocery retailer store is called UNIQ, the first branded shop will be situated at Canal Walk Shopping Centre. Including this store, the JSE-listed company is scheduled to open a total of eight shops in the next month. While the company has traditionally been associated with its dominant position in the middle to lower end of the market, it is understood that the chain will offer a range of different clothing in a higher price category. Market analysts…
As previously reported by BusinessTech Africa that two exceptional scientists were en route to Tunisia, and they have scooped gold. The two young researchers, Joseph Gibbon, and Matthew Redfern won gold for an innovative plastic pollution mitigation study at Tunisia Science Festival. In a press statement dispatched to this publication, the two exceptional young scientists from the Cape Town Regional Expo have made a resounding impact on the global scientific research arena, having earned Gold medals at the prestigious International Festival of Engineering, Science, and Technology in Tunisia (I-FEST2). Both Gibbon and Redfern are Grade 12 learners at Pinelands High…
