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Anglo American on Track for Major Restructuring Despite Challenges in Coal and Diamond Sectors
Anglo American has reaffirmed its commitment to completing a significant restructuring by the end of next year, despite encountering major obstacles in its coal and diamond businesses. Earlier this year, Anglo American announced its restructuring plan in response to a $49 billion (R906 billion) takeover bid from BHP Group, the world's largest miner. The plan
Top Tips on Managing Tax for Small Businesses
Colin Timmis – Xero Country Manager for South Africa, shared some tax compliance tips with BusinessTech Africa, to aid Small Businesses in unlocking benefits and incentives for greater growth. “As an entrepreneur or small business owner, you may often consider the broader role that tax plays in your business". "Navigating the intricacies of business tax
TotalEnergies Exits Gas Discoveries in South Africa, Impacting Power Production Plans
TotalEnergies has announced its withdrawal from the Brulpadda and Luiperd gas-condensate discoveries off the southern coast of South Africa, dealing a significant blow to the country’s plans to increase the use of natural gas for power generation. In a statement released on Monday, TotalEnergies cited economic challenges as the primary reason for its decision to
Venture Capital Investments in SA Hit R3 billion
ICT Sector Leading the VC Investment Charge – According to the SAVCA 2024 Survey According to the Annual SAVCA VC survey for 2024, the performance of the venture capital (VC) sector defied the downward trend in annual deals that had been prevalent since 2020, with the local information and communication technology (ICT) capturing investor interest
Breaking News Today – 30 July 2024
Shoprite Group Results Released: The half year results for H1, ending 30 June 2024 were released this morning, and indicated that the group had hit double-digit growth with sales reaching R121 billion (ZAR) Group sale of merchandise, an increase of 13.9% to R121.1 billion. Supermarkets in South Africa, sale of merchandise, increased by 14.6% to
Mustek Sees Share Price Surge by 50% Amid Renewed Investor Interest
Mustek, a leading assembler and distributor of personal computers and ICT products in South Africa, has experienced a remarkable two weeks on the Johannesburg Stock Exchange (JSE). Between July 16 and July 29, the company’s share price soared by 50%, reflecting a resurgence of investor interest. This impressive rebound follows a difficult start to the
Ethiopia Floats Birr Currency, Leading to 30% Drop Against Dollar to Secure IMF Support
On Monday, Ethiopia's national currency, the birr, experienced a significant 30 percent decline against the U.S. dollar following the central bank's decision to float the currency. This strategic move is part of Ethiopia's efforts to secure support from the International Monetary Fund (IMF) and facilitate advanced debt restructuring. The country has been facing severe economic
Vodacom Celebrates 30 Years with Impressive Growth and Impact
Vodacom Group recently celebrated its 30th anniversary, having signed up its first customer on June 1, 1994, when it launched its network in South Africa. Over three decades, Vodacom has expanded its reach to serve more than 200 million customers across the Democratic Republic of Congo (DRC), Ethiopia, Egypt, Kenya, Lesotho, Mozambique, South Africa, and
SAS Recognised as Leader in 2024 Gartner® Magic Quadrant™ for Data Science and Machine Learning Platforms
SAS, a global pioneer in data and AI, is recognised as a Leader in 2024 Gartner® Magic Quadrant™ for Data Science and Machine Learning for SAS® Viya®. This is the ninth consecutive time Gartner has named SAS a Leader in the Data Science and Machine Learning (DSML) Magic Quadrant for Completeness of Vision and Ability to Execute. “In today’s
Epson launches latest evolution in Heat-Free Line Inkjet printing
Epson has continued its drive to bring Heat-Free Line Inkjet technology through its office print range, launching the AM-C400 and AM-C550 MFPs to deliver improved solutions to the A4 market. These new products offer all the energy-saving and productivity advantages afforded by Epson’s existing Line Inkjet printers but in a smaller, A4 format. This launch
Acer Aspire Lite 14-inch models now available in South Africa
Laptops are essential for work, entertainment, and communication. They help us to build careers, explore online services, and stay connected with friends and family. However, finding a laptop that balances performance and affordability can be challenging. For young professionals, students and families seeking a dependable laptop at a reasonable price, Acer presents the Aspire Lite
South Africa's Economic Struggles Hinder Emergency Savings Efforts
In the face of challenging economic conditions, many South African consumers are finding it difficult to build emergency cash savings. Recent data from Standard Bank reveals that over half (52%) of entry-level private banking clients have less than one month’s salary saved in accessible cash, which could be crucial in unforeseen circumstances such as retrenchments
Ethics, Unemployment and Ai – The Way Forward
As artificial intelligence (Ai) continues to evolve, there is a growing narrative that it threatens human jobs. However, according to Lyndy van den Barselaar, Managing Director at ManpowerGroup South Africa, Ai is not a threat but a tremendous opportunity to enhance human potential and become truly indispensable in the workforce. I spoke with Lyndy about
Finding the right financial products to serve the underserved
Financial inclusion remains a key issue in South Africa, and promoting real inclusion is critical in enabling more people to improve their quality of life, says Simphiwe Phakathi, Executive Head of Sales and Distribution at EasyPay Everywhere. Financial exclusion is associated globally with persistent poverty. “At its most basic, the issue is that so many
Global Market Research: China leads world in GenAI usage while US leads in full implementation
Generative AI (GenAI) is here to stay. Organisations around the world are enthusiastically using and investing in the technology. But what regions and countries are leading in the use of GenAI? China is in the lead according to a recent global study SAS commissioned with Coleman Parkes Research Ltd. China business decision makers report that
Breaking News Today – 29 July 2024
Illegal Military Training Camp in South Africa Shut Down: Reports indicate that 95 illegal Libyan nationals have been arrested and will appear in the White River Magistrates court today on charges of illegal entry into South Africa. The visas, according to the South African Home Affairs Department, were issued to the Libyans for entry for
Breaking News Today – 26 July 2024
Broadcast Head Murdered: Guntila Muleya, the new Zambian broadcasting regulator was abducted and murdered this week. His body was found just outside the capital Lusaka. Police confirmed that he had been shot and are investigating the abduction and murder. No Motive for the murder has been disclosed as yet. Police believe the director general of
BYD Announces Major Electric Bus Deal with Golden Arrow
Chinese electric vehicle manufacturer BYD has announced a landmark agreement with Golden Arrow to supply the South African public transport company with 120 electric buses by the end of 2025. BYD, a global leader in commercial electric vehicles, has already delivered over 80,000 electric buses across six continents. The new 12.5-meter-long B12 buses for Golden
New Home Secretary Criticizes Costly and Failed Migrant Relocation Proposal
The U.K.'s new Home Secretary, Yvette Cooper, has strongly criticized a failed proposal by former British Prime Minister Rishi Sunak to relocate migrants to Rwanda. Cooper described the plan as a "shocking waste of taxpayer money," which amounted to £700 million ($904 million). Upon taking office this month, Keir Starmer, Sunak’s successor, promptly terminated the
Analysts Shocked at Nissan Q2 Results
Predictions of strong Y-o-Y growth for Japan's Nissan Motor company fell horribly short with reported revenue for the April to June quarter (Q2), coming in at a low 995 million Yen compared to 128 Billion Yen in the same quarter in 2023. The news sent Nissan stock plunging by its steepest single-day share price decline since