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11 State Owned Companies Go For Sale In Kenya
Kenya's finance ministry said it will offer stakes in 11 state-owned companies to raise funds for depleted government coffers as tax revenues continue to fall below target. The move comes as the East African nation contends with surging inflation and a depreciating currency, leading to increased debt repayment costs. Among the 11 companies slated for
Three challenges CIOs currently face – and how to fix them
Across industries, as technology becomes more central to business operations the role of a CIO is increasingly broad. From digital transformation to the carbon footprints of data centres, CIOs are responsible for an ever-growing set of workstreams. This is backed up by Lenovo’s 2023 Global Study of CIOs, which found that 84% of IT leaders
Making sense of the funding landscape for SMEs in South Africa
Securing funding and loans can be a challenging, frustrating experience for small business owners in SA, especially for SMEs who may not have experience with the rigorous applications processes. “With demands like a solid business plan; extensive credit history checks; and scrutiny of your business bank account’s statements, trying to access small business funding can
ArcelorMittal South Africa Site Closures Put Thousands of Jobs at Risk
Shares of ArcelorMittal South Africa took a significant hit as the company announced the decision to place its major Newcastle and Vereeniging long steel operations in care and maintenance due to a lack of demand. The share price plummeted nearly 30% to 100 cents earlier on Tuesday, although it recovered some losses by midday, showing
SA's contact centres can lead with AI-powered voice assistants
Chat and conversational AI services have the potential to further elevate the local call centre and BPO market. What are those opportunities, and how can companies adopt them? South Africa's call centre industry is booming and is a preferred offshore customer-support destination for many international organisations. It attracts significant investment, generates employment, kickstarts careers, delivers
Why wellness is vital for SA's private security sector
As societal attitudes toward mental health continue to evolve, there is a growing recognition of the importance of addressing mental well-being in high-stress professions. In South Africa, the private security industry, comprising approximately 10,000 companies and nearly 2.7 million registered personnel, is undergoing a transformation to prioritize the physical, mental, and emotional health of its
R1.5-trillion energy plan approved by Mozambique’s government
The government of Mozambique has sanctioned a strategy to diminish the country's reliance on fossil fuels, estimating a cost of US$80 billion (R1.5 trillion) for implementation by 2050. This move is designed to attract financial support for economic development. The initial measures outlined in the Energy Transition Strategy, endorsed by the Council of Ministers on
The Limited Edition 25 Actros Trucks by Mercedes-Benz Launch In SA
The global debut of the Mercedes-Benz Actros truck range took place at the 1996 Hanover commercial vehicle expo, serving as the successor to the SK range and reaching South Africa two years later. In honour of the Actros's 25th anniversary in the local market, Mercedes-Benz Trucks SA has introduced the Limited Edition 25 Actros. These
MAHLE sets the global standard for wireless charging
Inductive – i.e. wireless – charging of electric vehicles is much more convenient as there is no need to fiddle with cables or search for a charging station with a suitable plug. MAHLE has developed a positioning system that allows an electric vehicle to be simply, reliably and precisely aligned above the charging coil in
Creating global opportunities for local digitally skilled graduates
Recognising that South Africa’s youth must be presented with avenues to participate in the global digital economy, impact sourcing specialist CareerBox Africa has created the CareerBox Africa Innovation hub in Umhlanga, Durban. The global digital economy plays an important part in giving rise to innovative new ventures that will create sustainable employment for young Africans.
Cape Town CBD to take back the power amid electricity crunch
In South Africa, where electricity is a precious resource, the Cape Town Central City Improvement District (CCID) is launching a new public campaign, "Switch on to Switch Off: It Just Makes Good Business Sense." The CCID, a private-public company managing the Cape Town CBD, urges stakeholders – including property owners, business operators, residents, and visitors
How to prioritise and manage your debt during difficult times
An emergency fund that is built over the year can easily be the lifeline one needs to deal with some of the issues that continue to plague South Africa’s economy such as load shedding, water reductions, increasing interest rate hikes and increasing individual and household debt. Many people find themselves facing challenging financial situations that
Standard Bank Conquers Short-Term Hurdles, Projects Higher 2023 Revenues
Standard Bank Group, the largest bank in South Africa by assets, is poised for a year of substantial revenue growth in 2023, outpacing the challenges of rising operational costs. The bank reported a significant surge in revenues from January to October, reinforcing its commitment to financial resilience. Despite encountering higher operational costs, the bank's management
Cell C's Profit Shows Progress Amid Ongoing Challenges
Despite posting a profit in 2022, Cell C acknowledges that it remains in a period of significant transformation. In a recent trading update, Cell C revealed audited results for the financial years 2021 and 2022, along with January to September 2023 results and Q3 2023 results. For the 2022 financial year (FY22), revenue saw a
The South African Reserve Bank (SARB) opted to maintain interest rates last week, signaling potential cuts in the coming year.
Before the SARB's decision, annual headline consumer inflation climbed from 5.4% in September to 5.9% in October, marking the third consecutive monthly increase. This uptick was primarily attributed to higher food prices (8.7%), fuel inflation (11.2%), and housing utilities (5.4%). Consumer prices experienced a 0.9% rise in October, driven by cost increases in the milk
Advocacy Groups Call on Funders to Halt Support for TotalEnergies’ Mozambique Project Over Climate and Human Rights Concerns
Over 100 advocacy groups have jointly called on banks and financiers in a letter to withdraw their support for TotalEnergies' $20 billion liquefied natural gas project in Mozambique, citing climate and human rights concerns. As the French energy giant seeks to resume Africa's largest foreign investment, stalled since 2021 due to security threats, activists argue
Acer Launches New Chromebook Plus Laptops
Acer launched the company’s first Chromebook Plus laptops, the Acer Chromebook Plus 515 and Acer Chromebook Plus 514, debuting with Google’s Chromebook Plus initiative that offers a new tier of Chromebook performance, emphasizing better hardware designs with upgraded displays and cameras, and paired with new productivity, creativity, and multimedia capabilities. The Acer Chromebook Plus 515
Audi reveals eight new special-editions
Audi has revealed plans to introduce several special-edition sedans and SUVs in 2024. The rollout will commence with the launch of the new A4 and S4 Black Editions, followed by both Black and Urban Editions for the A3, Q2, Q3, Q5, and A5. They will be available from early 2024. The planned models, set to
Want to Make Your Money Right by The End of 2023? Here’s a Financial Strategy to Help You Do It
South Africans’ pockets are in pretty dire straits. In addition to the pressure created by increases in basic living expenses, consumer data suggests we are also spending more on non-essential ‘feel good’ purchases including travel and dining out. According to the SpendTrend2023 report, grocery costs have surged, with a nearly 50% increase in spending compared
New Visa Report Tells Consumers to Stay Alert this Holiday Shopping Season
Visa Inc., a world leader in digital payments, revealed its Holiday Edition Threats Report, which anticipates heightened scam activity during the holiday season across both card-present (CP) and card-not-present (CNP) transactions. The new report identifies popular fraud tactics expected between November 2023 and January 2024 due to the rapid increase in eCommerce activities and in-person