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COURTS GET TOUGH ON SECTIONAL TITLE OWNERS WHO DON’T PAY LEVIES
In a recent statement, Marina Constas, director of BBM Law, emphasized that courts are unsympathetic towards sectional title property owners who accumulate substantial arrear levies and electricity charges. In the face of challenging financial times, body corporates are struggling to bear the burden of these mounting debts resulting from non-payment of levies. Constas points out
Elon Musk creates AI firm xAI
Elon Musk has finally launched his long-teased artificial intelligence start-up xAI, unveiling a team comprised of engineers from the same big US technology firms that he hopes to challenge in his bid to build an alternative to ChatGPT. The company will be led by Elon Musk who has said on a number of occasions that
LG looking to offer subscriptions for TVs and appliances
LG has plans on offering subscriptions for its TV and appliances as part of its ambition to create a business model centred on customer engagement. The South Korean company is meaning to doing this as part of the plans that will help it to grow company revenue from $51 billion (R917 billion) to $78 billion
Tesla Builds its First Cybertruck Two Years After Delays
Tesla finally builds its first cybertruck after two years of delay. Saturday, Elon Musk’s company shared that it’d made its first Cybertruck at its Texas factory. The production is now expected to ramp up. the truck was first introduced in a 2019 reveal where the vehicle’s designer cracked the vehicle’s supposedly unbreakable “armour glass” windows.
The IMF Executive Board completed the fifth review under EFF/ECF arrangements for Kenya
Nigeria: Nigeria’s June consumer inflation at 22.8% y/y was slightly below our expectations (Absa Research 22.9% and Bloomberg consensus 23.0%), although it was up 0.4pp from the preceding month. CPI rose 2.1% m/m in June (May: 1.9%), which was its steepest monthly increase in seven years. The higher print was not a surprise given the near-40%
Gold Fields has approved the construction of an R660 million solar plant, the equivalent of 200 soccer fields.
Gold Fields, a major mining company, recently announced plans to build a 40 MW solar plant at its South Deep gold mine, marking an important step towards renewable energy integration in the mining industry. The solar plant will have 116,000 solar panels and will cover an area of approximately 118 hectares, which is equivalent to
Amplats Faces Steep Earnings Decline Due to Load Shedding and Weaker Prices
Anglo American Platinum, also known as Amplats, saw a significant drop in its shares on Monday morning, falling by 6%. The drop came after the company issued a warning about its interim earnings, blaming the expected drop on a combination of factors such as lower metal prices, asset maintenance, and South Africa's power outages. The
Genetically Modified Crops: A Potential Solution to Hunger in Africa, Despite Scepticism
According to World Health Organisation data, an alarming number of Africans—over 340 million—were affected by malnutrition and severe food insecurity between 2014 and 2020. Low agricultural productivity and post-harvest losses on the continent are major contributors to the crisis. However, evidence from the last two decades suggests that genetically modified (GM) crops may hold the
Rethinking the Land Bank's Funding Model and Refocusing Its Role
The Land and Agricultural Development Bank (Land Bank) has historically played an important role in South African agriculture, providing farmers, cooperatives, and marketing boards with affordable financing. It was founded in 1912 with the primary goal of providing mortgages to white farmers for land acquisition and wholesale financing to agricultural cooperatives. Because of substantial state
Court Approves Restart of Mining Operations at Tendele Anthracite Coal Mine
In a recent development, the Pietermaritzburg High Court granted Petmin's Tendele Mining permission to proceed with the expansion of its Somkhele anthracite coal mine in rural KwaZulu-Natal. This decision comes after the court denied an application to halt mining activities filed by the Mfolozi Community Environmental Justice Organisation (MCEJO) and other non-governmental organisations (NGOs). While
Enhancing Productivity On-the-Go: Mobile Apps Empower Users to Stay Connected, Efficient and Productive
In today's fast-paced world, where mobile phones have become an indispensable part of our daily lives, staying connected and maximising productivity whilst on the move has become more crucial than ever. According to recent statistics, the average person spends over four hours a day on their mobile devices, underscoring the need for efficient and reliable
Power cuts hit poultry producers
South Africa’s poultry producers are among the industries impacted by the high levels of national power cuts the country has experienced this year. Though the outages, known as load shedding, have decreased recently, the effect continues to show in companies’ financial statements. In May, the country’s largest poultry producer, Astral Foods, reported an 88% drop
Skilling our youth for a transformative future
In the month where we mark World Youth Skills Day, it is necessary to reflect on what we can do to reverse the unemployment trends across a continent that not only has the youngest population in the world but also a wellspring of exciting untapped talent. As of 2022, around 40 percent of the African
How creating transparency in the food & beverage supply chain promotes consumer trust
Consumers are more conscious than ever of where their food comes from, how it was produced and how it’s been handled throughout its journey from farm to table. Today’s consumers are also growing more and more conscious of how their own decisions – including which brands they support – are impacting the environment. Because of
FNB Connect new CEO appointment
FNB confirms the appointment of Sashin Sookroo as the CEO of FNB Connect, its mobile virtual network operator (MVNO), effective 1 July 2023. With over 14 years of dedicated service to FNB, he has been instrumental in driving innovation across different business areas, including the EFT Product House and Core Banking. Lytania Johnson, CEO of
William Mzimba retires from Vodacom Business after a five-year tenure
Vodacom South Africa’s Chief Officer of Vodacom Business, William Mzimba, has elected to retire from Vodacom after a five-year tenure and will leave the company at the end of September 2023. Commenting on William Mzimba’s departure, Sitho Mdlalose, CEO of Vodacom South Africa: “I would like to offer my gratitude to William for his invaluable
Lenovo study reveals CIO commitment and concerns around technology innovation
A global annual survey of Chief Information Officers (CIOs) by Lenovo reveals that despite economic headwinds and IT budget challenges, the world’s CIOs are bullish about the power of technology to deliver value for their organizations. Despite their optimism, the risks are real, as 83% are concerned that there will be insufficient budgets to properly
Customers donate R4.4m using the new ‘nav» Care’ capability on the FNB App
FNB is proud to announce that its customers and employees are harnessing the power of using technological innovation for social good after they donated an impressive total of just over R4.4 million in funds and eBucks to charitable causes using the nav» Care feature on the FNB App. The remarkable generosity of FNB's customers and
SA PROPERTY BUYERS MAKING GOLDEN DEALS IN DUBAI
The highest-valued property sold in the preceding year was an exquisite beachfront villa located in Palm Jumeirah, which was acquired at a price just shy of R3 billion (AED 598 million). However, property prices in this area commence from approximately R2.3 million (AED 450,000). If one intends to obtain UAE residency, facilitating the acquisition of
SA FACES A DIFFICULT JUGGLING ACT TO AVOID BLACKLISTING WHICH COULD HAMPER GLOBAL TRADE
After facing economic shocks in recent years, South Africa received another blow when it was grey listed by the Financial Action Task Force (FATF) earlier this year. The country's efforts to improve compliance with international standards in preventing illegal financial activities were deemed insufficient. The grey listing tarnished South Africa's reputation and increased the cost