The Durban Car Terminal has registered a massive milestone after handling more than 600 000 vehicles this financial year. Also known as the DCT, it says this milestone was achieved this week when vessel Cattleya Ace of MOL Shipping offloaded 4 025 fully-built units and then loaded 3 200 Toyota Hilux and BMW X3 models destined for Europe. BusinessTech Africa has gathered that the facility said the 600 000th unit mark is a historical achievement, “attributed to improved terminal efficiencies through a committed workforce, consistency and eased Covid-19 lockdown restrictions globally”. The resurgent hospitality industry also stimulated local vehicle demand in…
Author: Beloved Mutikani
Mining company Sibanye Stillwater has offered a A$30-million lifeline to takeover target New Century Resources. This comes after the company was forced to halt operations at its Queensland (Australia) zinc mine in early March, following heavy floods. Operations are expected to remain suspended for a further two to three weeks as a result of the rains. New Century has warned of production losses of 5 000 t to 20 000 t of zinc metal for the 2023 financial year and has also warned that the production shortfall is likely to impact short-term liquidity. The ASX-listed New Century said earlier this month that it was engaging with Sibanye-Stillwater on…
Banking giant First Rand Merchant Bank has acquired a 25% stake in Remgro’s Ubiquity Energy platform. Ubiqiuity is the holding company of Energy Exchange, which is an electricity trader licensed by the National Energy Regulator of South Africa. Media reports reveal that the value of the acquisition has not been disclosed but the deal was announced in a joint statement. Mining Weekly reports that the transaction was supportive of investments in South Africa’s private power market and of unlocking South Africa’s renewable energy resources. RMB infrastructure sector solutions transactor Sindisiwe Mosoeu said that Energy Exchange, as a large-scale purchaser of electricity, could connect corporates with privately produced renewable electricity to meet their decarbonisation goals. BusinessTech Africa understands that…
Cell C CEO Douglas Stevenson has quit his job owing to personal reasons and the telecoms company has since announced the news. The Johannesburg-based company said the CEO has stepped down after a stressful five-year leadership tenure to put the debt-laden telecom operator back on a firmer footing. Rated as the fourth largest in South Africa, Cell C announced that Stevenson will be at the helm until March 31, 2023. JSE-listed Blue Label, the telecom operator’s major shareholder with a 49.5% stake following the mobile operator’s recent recapitalisation, said on Thursday that Stevenson had quit “for personal reasons and to pursue…
One of the Southern African nations, Mozambique, announced visa exemption for 28 countries mainly for tourism and business visits as the Council of Ministers approved the decree. The exemption applies to visitors holding ordinary passports and allows for a 30-day stay and it is renewable for an additional 60 days. BusinessTech Africa understands that the model adopted by the Mozambican government is similar to the United States visa waiver programme. It is similar simply because it requires travellers to register on a platform for pre-screening at least 48 hours before traveling and to pay a processing fee of MZN650 (+/-…
American businessman Elon Musk’s second cousin, Hilton, recently test-drove the Tesla Model X from Cape Town to Johannesburg where he made stops in various locations to charge his battery. Hilton drove for more than 1400 kilometres to reach his destination and said he stopped about seven times to recharge his electric car. The drive comes as Tesla vehicles are not yet available for people to buy in South Africa and he charged at locations such as Laingsburg, Worcester and Colesberg among others. However, Rubicon, the largest supplier of solar systems and components to the commercial, industrial and residential sectors in…
American phone and computer maker Apple has unveiled what it calls shop with a “Shop with a Specialist over Video” in the United States. The new way of shopping allows shoppers to browse for iPhones online with the help of an employee over a one-way video call. The technology company announced that its staff will advise on the latest models, explain new features, and inform customers about trade-in offers, carrier deals, and various finance options. “With Shop with a Specialist over Video, our team members are excited to connect with customers and provide exceptional service as they learn about which…
After 21 years of existence, Capitec Bank has surpassed big players such as First National Bank and Standard Bank. The Western Cape-based banking institution has reached the 20 million customer milestone and that is regarded by CEO Gerrie Fourie as massive. Capitec’s record when it comes to the number of customers beats its 185-year-old rival FNB and 160-year-old Standard Bank. Capitec, which turned 22 early this month and registering 20 million clients means their numbers are bigger than the populations of either the Netherlands, Zimbabwe, or Senegal. “We are incredibly grateful for the trust that over 20 million clients have…
Short-term insurance company Santam has sealed an agreement to buy MTN SA’s insurance book. The deal comes as MTN’s device boasts over 400 000 policies and an annual income of written premium valued at almost R400 million. Dubbed Africa’s largest short-term insurer, Santam’s proposal was approved by the Competition Commission in March without conditions, it said in a statement. It is announced that regulatory approvals are expected to be completed within the next year and the acquisition, as well as the alliance, is aimed to support MTN South Africa in broadening the reach of device protection to their client. Tavaziva Madzinga,…
South African low-cost airline operator FlySafair has announced a new route to Zanzibar as it will depart from OR Tambo International Airport. The popular low-cost airline says it has added a new route to its regional roster and the flight will depart from ORTIA to Abeid Amani Karume International Airport in Zanzibar. FlySafair said it will start a weekly return flight from the first weekend of April 2023, with a second-weekday flight potentially being added at a later date. According to Kirby Gordon, Chief Marketing Officer at FlySafair, he said Zanzibar is one of the most loved destinations in the…
