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Luxurious Blue Train finally back on the rails after derailment and fire
One of the world’s most luxurious trains is set to head back to the rails and that is the latest information surrounding the South African Blue Train. The train is expected to return to full service with immediate effect and this follows a lengthy derailing on two occasions. BusinessTech Africa has gathered that the train derailed before
Determined farmer Siyabonga Ndlela remains focused despite unexpected floods in KZN
While many businesses were severely affected by the ravaging floods that hit the province of KwaZulu-Natal earlier this year, Siyabonga Ndlela remains defiant as he focuses on his dreams. The young farmer is still determined to change the agricultural sector when he formed Ndlela Agri Group as a committed cabbage farmer. Ndlela reflects on the effects of
Engen petroleum on sale again, attracting foreign investors from as far as Malaysia – reports
Media reports indicate that the South African petroleum company, Engen, is on sale and it has attracted overseas companies. According to reports, a Malaysian state-owned energy company, Petroleum Nasional, has revived a sale of Engen. Independent Media reveals that Petronas is working with advisers to solicit bids for its controlling stake in the fuel retail business, which
Embattled tobacco maker Gold Leaf to ready to fight back as SARS freezes its assets
It seems there is a war brewing between Gold Leaf Tobacco Corporation and the South African Revenue Service following the preservation order ruling by a court. The Noth Gauteng High Court ruled that the Zimbabwean cigarette manufacturer be slapped with a preservation order last week. In the latest media reports, it is indicated that GLTC has cried
Under pressure TotalEnergies to sell 49% stake to a Russian company, Novatek
French energy company, TotalEnergies, says it has reached an agreement with its Russian partner, Novatek, to sell its 49% stake. The deal was announced on Friday as the two companies will exchange ownership of the shares in the Termokarstovoye gas field on economic terms enabling TotalEnergies to recover the outstanding amounts invested in the field. TotalEnergies said it
Mxit founder Herman Heunis loses battle to pancreatic cancer
The digital community is reeling in pain and shock following the sad news of the passing of Mxit founder, Herman Heunis, this week. BusinessTech Africa has gathered that the Namibian-born Mxit founder passed away on Wednesday following a lengthy battle with pancreatic cancer. Heunis was diagnosed two years ago and he was a software specialist who went
North Gauteng High Court slaps Gold Leaf Tobacco with a preservation order
Zimbabwean cigarette company, Gold Leaf Tobacco Corporation has been slapped with a preservation order by the South African Revenue Service (SARS). SARS applied at the North Gauteng High Court arguing that the controversial cigarette manufacturer and its directors get a slap. It is said that the order will prevent the Zimbabwean-owned company from dissipating realisable
Ex-Steinhoff CFO Ben La Grange fined R12m, disqualified by JSE due to ‘dodgy’ invoice
The latest information surrounding Steinhoff is that the Johannesburg Stock Exchange has banned the company’s former Chief Financial Officer, Ben La Grange. La Grange has been disqualified from filling the role of a company director in a JSE-listed company for a decade and issued him with a fine of R2 million. The JSE said La
African Bank to acquire Ubank’s assets and its employees, forks out an R80 million fee
African Bank has flexed its financial muscle after announcing it has bought embattled Ubank and declared itself as the successful bidder. In a statement to the media released on Friday, African Bank confirmed its bid and that it will acquire the majority of Ubank's disclosed assets and liabilities. The statement further revealed that the bank
Zambian government to set up a working group to save embattled Zamtel
Word reaching BusinessTech Africa is that Zambian state-owned telecommunications company, Zamtel, is financially struggling and the government is making plans to save it. Zamtel has been reportedly put on sale by the government but it seems the purposed move will be put on hold for now. Media reports reveal that the country’s President Hakainde Hichilema
Mining giant Impala Platinum secures more shares in Royal Bafokeng Platinum
Impala Platinum has concluded the agreement to purchase 475, 000 shares from Royal Bafokeng Platinum as media reports suggest. BusinessTech Africa has learnt that Implats has also assured the business sector and its stakeholders that they will do everything in their power to create more than 40 000 jobs. The platinum miner referred to its
Botswana announces ban on SA cows amid foot and mouth disease outbreak
Botswana has announced yet another ban on South African imports and this follows the outbreak of foot and mouth disease that has hit the beef production sectors. The Southern African nation announced that it has suspended all exports of cattle and beef related products from South Africa. This announcement comes while local authorities investigate a suspected outbreak
Alcohol maker Distell registers R34 billion profits, surpassing pre-Covid levels
One of the world’s biggest alcoholic beverage producers, Distell, has announced a major relief as they have registered revenue that surpassed pre-pandemic levels. The company suffered and was massively hit by the ravaging Covid-19 which forced the South African government to halt AND limit alcohol sales and distribution. However, the company has now released results, saying the
Minister Khumbudzo Ntshavheni unhappy with gender inequality at Telkom board
Minister of communications Khumbudzo Ntshavheni has issued a strong warning to the Telkom board in relation to transformation in the boardroom. Ntshavheni vowed she will continue to advocate for balanced gender representation on the board and executive management of Telkom. The minister released a statement in her response to the telecommunications giant’s annual general meeting (AGM) that
Cape Town International to benefit from British Airways’ increased summer flights
The Western Cape provincial government has expressed delight in the development that British Airways and Virgin Atlantic have upped their flight frequencies to Cape Town. As South Africa is now heading to the summer season, the two flight operators, British Airways and Virgin Atlantic increased frequencies will result in a total of 24 weekly flights between
EXCLUSIVE: Influential Ncumisa Nodaka addresses the shortage of black female accountants in SA
Ncumisa Nodaka is a perfect example of a woman who has defied the odds as she owns her accounting firm in the province of the Eastern Cape. Nodaka exclusively spoke to BusinessTech Africa and explains what really inspired her to follow a career route, mostly thought to be reserved for a selected few. Having matriculated
Namibia responds to ‘emotional and unbalanced’ call by South Africa to unban vegetable imports
On the back of calls made by agricultural bodies such as Agri SA to demand intervention from the South African government to revoke trade decisions made by Namibia and Botswana, the South West Africans have reacted. Through its minister of agriculture Calle Schlettwein, Namibia says South Africa’s decision to urge their country to revoke the decision
South Africans face the possibility of a shortage of French fries due to high import tariffs
South Africans are facing the possibility of a shortage of French fries in the next few months as the local potato industry has no capacity to produce more potatoes. This is escalated by dramatic new import duties on European producers blocking supply to the local market, experts warn. The suppliers argued that the International Trade Administration Commission
MTN appoints former Telkom financial controller, Marvin Ncube, joins Tsholofelo Molefe
Mobile telecom operator MTN has announced another appointment as they roped in former Telkom financial controller, Marvin Ncube. Ncube joins the giant mobile telecoms operator as the company’s new executive for business finance – he will resume his duties next month. Dubbed as one of the continent’s biggest telecoms companies, MTN, confirmed the appointment on Monday, announcing
Eskom plans to switch off lights in the Tshwane Metro due to R1,6 billion outstanding debt
Eskom has issued a threat to the Tshwane Metropolitan municipality over their debt as the metro faces the possibility of a blackout. The South African power utility says the municipality owes them an outstanding debt amounting to the tune of R1.6 billion. Eskom announced on Tuesday that it was considering disconnecting the City of Tshwane after failing