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BMW set to build plug-in hybrids in South Africa
BMW Group has announced that is planning on building its new X3 model in South Africa from 2024, investing R4.2-billion to electrify its plant in Rosslyn. In a statement, the company said from 2024, they will be producing the BMW X3 in South Africa as a plug-in hybrid and export it all over the world.
MTN SA working on generating own electricity
MTN SA has revealed that it is currently working on becoming a standalone Independent Power Producer (IPP) by harnessing the power of multiple generation technologies that are going to include additional solar, gas and battery energy systems, in one plant at its head office in Fairlands, Johannesburg. The telecoms company said in a statement that
JUWI Projects has 400 MW of EPC projects to Drive Clean Energy For SA Mines
The global solar, wind and hybrid project developer, EPC and operations and maintenance company, JUWI Renewable Energies, has announced that it currently has 400 MW of EPC projects in advanced stages of development for mines in South Africa. This comes just after the financial close of the 89 MW Castle Wind project by the African
popular driving app Waze hit by Job cuts
Google recently made an announcement that is cutting jobs at the mapping app, Waze. This is taking place as a resulting of the company merging the app’s advertising system with Google Ads technology, without giving details on the number of layoffs. Google acquired Waze for close US$1.3-billion back in 2013, and they revealed that in
Paratus currently building its biggest data centre
Paratus Group is set to build Angola’s first tier-4 “by design” data centre in Luanda, Angola. ICT infrastructure specialist mentioned that this new data centre is set to complement the two data centres the pan-African company owns and operates in Angola. This will be the fifth data centre that will be operated by the group
Hacking group that has ties to Africa may be a Russian proxy
A hacking group that has been said to be the cause of a series of outages at Microsoft sometime this month, and had spent the previous months attacking targets in Israel, Sweden and other nations, could be part of an expanding campaign that some cybersecurity researchers have tied to Russia. The group “Anonymous Sudan” defines
Takealot takes a huge loss
Naspers has been having significant losses over the last financial year, and one of the reasons is that South Africa’s biggest online retailer, Takealot, posting a loss of R400 million. The company said: “The operating environment in the fiscal year ended 31 March 2023 (FY23) was characterised by significant geopolitical and macroeconomic uncertainty. Amid that
Telkom removes SAPO as payment channel
Telkom has revealed that it will no longer be offering the account payment option through South African Post Office (SAPO) for its customers. The telecommunications company mentioned in a statement that this change aims to streamline the payment process for Telkom’s customers. SAPO faces an uncertain future and Telkom’s move comes as a result of
Dividend drought might be coming for South African investors
Investors in South African might be facing a dividend drought soon, with companies unable to pay dividends due to the tough operating environment and an uncertain economic outlook. The portfolio manager at Sanlam Investments, Roy Mutooni, spoke to CNBC Africa about the growing trend of South African companies not paying dividends. He said the rising
Naspers reveals $1.4 billion operating loss
Naspers Limited has released its financial results for the year that ended on the 31st of March 2023, and they have revealed a company struggling to create shareholder value. The revenue from continuing operations increased from $6.3 billion to $6.8 billion, but unfortunately the good news ended there. Naspers’ operating loss grew bigger from $985
Meta adds subscription services for VR headsets
Meta Platforms has launched a subscription-based service called Meta Quest+, for its virtual reality headsets to shape a nascent but high-investment market. Taking to the broadcast channel on social media app Instagram, the CEO, Mark Zuckerberg revealed that the Meta Quest+ subscription will be available from Monday at US$7.99/month, or $59.99 annually, for its Quest
Fidelity comes into defence for R250 million Andre de Ruyter security contract
The security firm, has come into come into defence for a contract that Eskom awarded during Andre de Ruyter’s time as CEO, revealing that the contract was only worth R250 million and it did not include any intelligence services. Initially, the allegations were raised by The Association of Private Security Owners of South Africa (Tapsosa)
Intel on restructuring its manufacturing business
The technology centre, Intel recently revealed that it has restructuring processes underway for its manufacturing business. It is set to work like a separate unit and will begin to generate a margin, however, the company gave no clear timeline on when it will start scaling up, sending the chip maker’s shares down about 5%. Intel
YouTube tests an online gaming offering
The video streaming platform, YouTube is currently running tests internally on a product for playing online games. This according to the reports by the Wall Street Journal, came through and email that was sent to the employees at parent company Google. The company has an open visitation for its employees to start testing the new
Edward Kieswetter, SARS Commissioner Elected Chairperson Of The World Customs Organisation
The Commissioner of the South African Revenue Service (SARS), Edward Kieswetter has been elected as Chairperson of the World Customs Organisation (WCO). The election happened on the 24th June 2023 at the organisation’s Council session at the WCO headquarters in Brussels, Belgium. With 185 members, the WCO has three-quarters of which are developing countries and
South Africa could be removed from US trade agreement
Ebrahim Patel who is the Minister of Trade, Industry, and Competition recently warned Parliament that there is a possibility that South Africa could be “graduated” out of a preferential trade agreement with the United States as the country has gained enough from the agreement. Patel revealed that in terms of creating the Africa Growth and
Kenya set to Become the ‘Singapore of Africa’
Kenya is the most promising rising country in sub-Saharan Africa currently, with the economic and political forces converging to put the continent’s seventh-largest nation in a relatively favourable position. At this moment, Africa is the fastest-growing continent and it is expected to account for one-quarter of the world’s population by year 2050. What that means
South Africa launches green hydrogen in partnership with Netherlands and Denmark
The government of South Africa Netherlands and Denmark, have come together to launch a US$1-billion green hydrogen fund to help kick-start an industry seen as critical to the country’s decarbonisation efforts. The energy transition plan for South Africa involves setting up an ecosystem and export hub for green hydrogen, which comes by using renewable energy
Johann Rupert’s worth hits more than R200 billion
Overtaking the Nigerian billionaire Aliko Dangote to become the richest person in Africa, Johann Rupert has now climbed up to first place of the richest people in Africa as he now has a net worth of R216 billion ($11.9 billion). Forbes’ Real-Time Billionaires List has ranked Rupert as the 145th richest person in the world,
Cell C successfully completes Network Migration
Cell C has revealed that it has successfully completed its network migration ahead of schedule, and it is now working with access to circa 14 000 towers countrywide, with more than 12 000 sites 4G/LTE enabled. The telecommunications company reiterated how much of a win this is for its customers as they will be benefitting