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Telecoms giant MTN Nigeria reports a massive victory in profits for 2022
MTN Nigeria has reported a massive win in its full-year results and managed to reward shareholders with bumped-up dividends. The telecommunications company released its results for the year ended December, showing a surge in profit and massive growth of its fintech business. Nigeria is the top profit-making market for the South African-based telecoms group, generating
Top of the range HUAWEI Mate50 Pro is now available in South Africa
Chinese mobile telephone maker, HUAWEI’s latest offering is wreaking havoc after unveiling its latest product, the HUAWEI Mate50 Pro. Launched towards the end of January 2023, last week to be precise, the mobile telephone maker has attracted massive interest from tech and gadget lovers. The device is already available in South Africa and with great
Mining sector registers 49 fatalities in 2022, Mantashe calls it a ‘milestone’
Minister of Mineral Resources and Energy Gwede Mantashe has released the fatalities in the mining industry and the numbers are the lowest. BusinessTech Africa understands that in 2022, South Africa registered 49 fatalities which is the lowest to date. The number comes as the industry, government, and labour collaborated to reduce the death, injury, and
Vodacom cleans out its house, sheds more than 1 million clients on its records
Vodacom has announced that it has shed over 1 million customers from its network as they believe they don’t generate revenue. The mobile operator, Vodacom shared this development during a trading update for the third quarter ending December 2022. The mobile operator also reported a net loss of 844,000 local customers in South Africa through
China’s Cathay Pacific to relaunch direct flights to Johannesburg, South Africa
Chinese airline Cathay Pacific is set to relaunch routes to South Africa around August this year, the carrier has announced. Based in Hong Kong, Cathay Pacific announced on Monday that it was going to resume direct flights between the Chinese territory and South Africa. The service will restart on August 2, and will be operated
Despite spending R560 million on diesel, Shoprite registered growth during Black Friday
South African retail giant Shoprite benefited from the Black Friday sales during the festive season, announced the company on Tuesday. The benefits were registered in the record Black Friday and festive season as Shoprite delivered double-digit first-half sales growth. BusinessTech Africa understands that the retailer spent more than half a billion rand to keep the
Fintech company JUMO ropes in Kenya’s Joe Mucheru as a new president
African fintech company has announced Kenya’s Joe Mucheru as the president and the news is publicised on Tuesday. BusinessTech Africa has established that Mucheru is a former Cabinet secretary in the Ministry of ICT, Innovation, and Youth Affairs in Kenya. – a position he occupied from 2015 to 2022. JUMO released a statement indicating that
Two brilliant SA scientists to showcase research at Taiwan's international science fair
Two South African youngsters, Dia Singh and Jaco Jacobs will hoist the country’s flag at the upcoming 2023 Taiwan International Science Fair. The duo, Singh and Jacobs will head to the 2023 Taiwan International Science Fair and will showcase their projects between 6 and 10 February. Singh and Jacobs have been awarded the opportunity to
Minister Naledi Pandor urges MTN and Ghana to urgently solve the tax saga
International Relations and Cooperation Minister Naledi Pandor has urged MTN and authorities in Ghana to deal with a R13 billion tax dispute urgently. Ghana is the mobile operator, MTN’s third-biggest market, and the South African company was hit with a surprise R13 billion back-tax bill from the Ghana Revenue Authority early this month. Media reports
Struggling sugar maker Tongaat Hulett parts ways with CEO Gavin Hudson
Tongaat Hulett has parted ways with CEO Gavin Hudson who resigned from his position after four years on the job. This comes as the sugar maker’s release of a business rescue plan for embattled sugar has been pushed by a month until the end of February. Per media reports, the firm's business rescue practitioners said
Renault and Nissan reach historic agreement in signing rebalancing deal
Two gigantic motor makers Nissan and Renault have reached an agreement and the French maker will now slash its stake in Nissan as part of a deal rebalancing the rocky alliance. The two companies announced the news on Monday and it is announced that the deal is set to see Nissan take a stake in
Toyota South Africa planning to manufacture hybrid & electric Hilux vehicles
Toyota South Africa is now looking at manufacturing hybrid and electric Toyota Hilux versions but it is waiting for the go-ahead from the government. Toyota South Africa Motors exports around 44% of total production from its Durban plant exported to Europe, and the company is set to face a tough challenge as that market increasingly
Nigeria announces extension to swap old currency notes to February
West African powerhouse, Nigeria has announced the deadline for the expiration of higher denomination naira notes to February 10. The country’s central bank said it extended the deadline owing to long queues developed at banks and commercial activities almost came to a halt for a lack of the new currency. The extension will give “all
Russia’s Nordwind Airlines expected to launch flights to OR Tambo International
The South African government has sensationally committed itself to help boost Russian tourism and discussed the possibility of seeing Nordwind Airlines travelling to the country. Information landing at BusinessTech Africa’s desk is that South Africa is negotiating with Russia’s Nordwind Airlines about launching direct flights between Moscow Sheremetyevo and Johannesburg O.R. Tambo. However, the airline
Government confirms there’s new swine flu in a Gauteng farm
The Department of Agriculture, Land Reform, and Rural Development has announced that there is a new outbreak of African Swine Fever (ASF) on a farm in Gauteng. According to the statement, the department confirmed that the farm has been put under quarantine and the Provincial Veterinary Services instituted forward and back-tracing investigations to identify any
Eskom looking unleashes 500MW of renewable energy from second land-lease tender
Power utility Eskom is set to host site visits next month for independent power producers interested in four new parcels of grid-ready land in Mpumalanga. The electricity supplier will make these available under its long-term lease programme for the development of up to 500 MW of renewable energy generation. The request for proposals (RFP), which
Sheep farmers face challenging times in South Africa due to lower demand
According to Johnny van der Merwe, sheep prices are likely to remain low in 2023 and this is because of lower demand. Van der Merwe is the managing director of agricultural markets analysis company AMT and believes that South Africa’s sheep industry has continued to decline due to the effects of devastating drought in some parts
Takatso Airways is confident of successfully acquiring a stake in cash-strapped SAA
Takatso Airways has vowed to go ahead with the purchase of the embattled state-owned airline, South African Airways. The Global Airways Consortium unit, Takatso Airways, insists it is moving ahead and equipped for the 51% takeover of SAA. This comes despite insiders saying the recent ANC conference was a watershed moment for the deal as
Toyota announces new CEO Koji Sato as he succeeds Akio Toyoda
Japanese carmaker Toyota has made changes in its top managerial structure by announcing Koji Sato as the new CEO. Sato has an engineering and diesel engine background and becomes the new CEO of Japan's top carmaker Toyota, he will be tasked with navigating the company's shift to clean energy. In a statement from the automaker,
Spain’s Torsa opens doors in Johannesburg but eyeing Zambian Copperbelt region
Spain-based mining technology firm Torsa has jut opened its doors in Johannesburg as it looks to reduce mining incidents and deaths. Torsa launched its pan-African business hub in South Africa and BusinessTech Africa understands that this was in line with a presidential Memorandum of Understanding signed at the end of 2022. The MoU was signed