Business & Tech News
Alphabet’s Wiz Purchase Confirmed:
Alphabet has confirmed that it will acquire 100% of cyber security Start-up Wiz, for the handsome fee of $32 billion As reported yesterday on Business Tech Africa, Alphabet views Wiz’s cloud security products as fit for purpose for its Cloud customer base, with the added attraction of a $500 million annual recurring revenue (ARR) base, with a forecast of a $1 billion in ARR in 2025. Even more interesting is that the deal will be a cash purchase, indicating how crittical the acquisition is to Google interms of future proofing their expansion into the cloud arena with cybersecurity and data security being a top consideration for corporates adopting cloud technology. ’iz’s clients include Microsoft, Oracle, and Google cloud . The deal is expected to close in 2026.
African Rainbow Capital to Seek Delisting:
Potrice Motsepe’s African Rainbow Capital (ARC), is set to delist from the Johannesburg Stock Exchange and seek to redomicile in Mauritius. The group plans to pursue a share buy-back program and has made an offer for the shares it currently does not own. The group has offered shareholders R9.75 per share and closed trading yesterday at R9.30 a share, after seeing a jump in share price of 6,46% after the release of the announcement.
According to the statement released by ARC, the offer represents a premium of 12.6% to the closing price of R8.66 per share (Monday 17 March Closing price) and a premium of 21% to the 30-day volume weighted average price of R8.06 per share as at market close on Friday, 14 March. It also represents a discount of 22.8% to the net asset value per share as set out in the ARC interim results announcement issued earlier on Yesterday morning
Tesla One-step Closer to Autonomous Vehicle Deployment:
Yesterday saw Tesla motor Corp, move an important step towards deploying its first fully autonomous vehicles, on receipt of the first in a series of approvals from California required for the electric car maker to eventually launch it’s promised robotaxi service in the state. The California Public Utilities Commission (CPUC) said it approved Tesla’s application for a transportation charter-party carrier permit (TCP), that will permit Tesla to own and control a fleet of vehicles and transport employees on pre-arranged trips.
The permit is a prerequisite for applying to operate an autonomous ride-hailing service in California, but a CPUC spokesperson said the current permit “does not authorize them to provide rides” in autonomous vehicles, and does not allow Tesla to operate a ride-hailing service to the public. Tesla CEO Elon Musk shifted his focus last year to rolling out robotaxis and has promised driverless ride-hailing services to the public in California and Texas this year.
SpaceX Dragon Capsule Returns Safely with Stranded Astronaughts
After 171 days in space, Dragon and Crew-9 NASA astronauts Nick Hague, Suni Williams, and Butch Wilmore, as well as Rocosmos cosmonaut Alexander Grebenkin returned to Earth and splashed down off the coast of Florida at 5:57 p.m. ET on Tuesday, March 18. The Nasa crew had been left stranded in space on the international space station for a period of nine-months after a malfunction on the Boeing developed Starliner capsule. SpaceX performed the rescue mission with its Dragon capsule. Suni Williams and Butch Wilmore now hold the record for the longest single space-flight in history. The Astronaughts were all deemed in good health after their obligatory medical examination after emerging from the Dragon Capsule in the early hours of this morning (CAT).
Gold Gains Again:
Gold prices continue to surge with the current trading price sitting at around $3,036 this morning, up over 3% for the week. The new record high, continues to driven by risk aversion amid heightened geopolitical tensions and tariff uncertainty, and further central bank gold buying programs. In the latest escalation of Middle East hostilities, Israel launched a missile attack on Gaza, ending the negotiated ceasefire with Hamas, warning the assault was ‘just the beginning’. Elsewhere, Putin agreed to halt attacks on Ukrainian energy sites but rejected Trump’s proposed 30-day ceasefire. Meanwhile, US tariffs, including a 25% levy on steel and aluminum since February, have elevated trade tensions, with reciprocal and sectoral duties set to start on April 2.
Markets by Numbers
Currencies:
Currency markets are indicating the US Dollar is marginally weaker today against the Euro, and currently at 1.09321 against the Euro, and has also weakened against the Pound and currently at 1.29891 against the Pound. The Yen is trading flat against the Dollar, and at 149.52 to the dollar currently. The rand has lost some of its gains from the week after a three-month high against the Dollar, and is trading at R18.15 to the dollar currently.
Commodities:
- Gold prices have surged by 3,36% this week to break above the $3000 level, hitting a new all-time-high record today of $3036 where it is currently trading.
- Copper is trading flat after big gains this week, and at 4.9927 currently.
- Silver continues to trade upwards, and at 33.962 currently.
- Platinum prices continue holding above the $1010 mark, while 0,7% down from yesterday, and at $1013 currently, while Palladium prices are currently trading at $956.50
- Brent Crude Oil prices are trading downwards at $70.33 currently, with WTI also trading slightly lower at $66.63 currently.
- Cocoa futures are trading upwards this morning, with more than a 2% gain and with prices currently at $8053 per ton.
- Coffee prices have moved downwards in trade this morning, and at $386 currently.
Crypto Currencies:
- Bitcoin is currently trading flat at $82990, down over -0,32% today.
- Ether prices remain below $2000 and currently trading upwards at $1932.99
- $Trumpcoin is trading fairly level today and currently trading at $11.06
(All prices quoted at approximately 07H00 – Central African Time)
Other News in Africa Today
Congo Peace Talks Implode
The Angolan sponsored peace talks between the Democratic republic of congo and the Rwandan backed M23 rebels, who have captured key areas in Congo’s mineral-rich east, have been suspended after the M23 group announced that they were withdrawing from peace talks scheduled for this week with the Congolese government.The group said that international sanctions imposed by the European Union on its members as the reason for their withdrawal from the talks. M23 spokesperson Lawrence Kanyuka also cited ongoing military offensives by Congo’s army as an additional issue for their withdrawal. The rebels deemed the talks, scheduled for Tuesday in Luanda, Angola, ” impracticable.” Despite this, Congo’s government, initially rejecting talks with M23, confirmed it would still participate. According to government spokesperson Tina Salama, a Congolese delegation was already in Luanda.
