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Ronald Wayne: Apple co-founder who sold his 10% share for $800
The Cleveland, Ohio born Ronald Wayne who co-founded Apple with Steve Wozniak and Steve Jobs in 1976, sold his 10% stake in the company for a mere $800. On the 1st of April in 1976, Ronald Wayne partnered with Wozniak and Jobs and provided administrative oversight and documentation for the new venture. Jobs owned 65.4%
Crime affecting Eskom’s performance
The Minister of Public Enterprises, Pravin Gordhan has spoken about how even though Eskom is putting in efforts to fight crime at the utility, more needs to be done to remove criminal activity at the state-owned enterprise. Gordhan told Parliament recently that the situation at Eskom has improved. Talking about the interventions that they have
IMF Urges Zimbabwe to Take Further Currency Reform Steps
The International Monetary Fund (IMF) is urging Zimbabwe to take additional currency reform steps as the country falls short of fully free-floating its local currency. The IMF emphasised in an email response to questions that the credibility and effectiveness of recent Zimbabwean measures would be dependent on a swift commitment to liberalise the foreign-exchange market
Work at home if possible, continued rains and strong winds wreak western cape
As the Western Cape deals with the aftermath of a severe storm that hit on Wednesday, there appears to be no relief in sight as heavy rain and strong winds continue to wreak havoc. Despite ongoing cleanup efforts, Thursday brings no respite, as the Disaster Risk Management Centre remains on high alert, expecting additional impacts
Client Ordered to Refund Discovery R1.64 Million After Fraudulent Insurance Claim
The Supreme Court of Appeal recently ordered a Pretoria homeowner to refund Discovery R1.64 million, plus other costs, for a genuine storm damage and household contents insurance claim. The court determined that a portion of the claim related to emergency accommodation was fraudulent, giving the insurer the right to cancel the policy retroactively from the
Cell C Appoints Former Vodacom Exec as CEO
Cell C, South Africa's fourth-largest mobile operator, has announced the appointment of Jorge Mendes, a former Vodacom executive, as its new CEO. Mendes will take over as CEO at the beginning of July, bringing with him over 25 years of experience in the telecommunications industry. He succeeds Craigie Stevenson, who stepped down in March of
Ford Ranger to Conquer Dakar 2024 with South African Expertise
Ford Performance announced its return to the prestigious Dakar Rally in 2024, expanding its motorsport presence. This announcement follows Ford's recent partnership as an engine supplier to Red Bull's Formula One team, as well as its decision to re-enter the 24 Hours of Le Mans with the Mustang GT3. While Ford Performance has a long
TFG's Bash Platform: A Key Contributor to Online Sales
The Foschini Group (TFG) is seeing significant growth in online sales, with its e-commerce multi-brand platform, Bash, playing a significant role. Bash accounted for 34% of TFG's total online sales within two months of its launch and saw a remarkable 73% increase in multi-brand orders. According to the most recent financial report, TFG's online retail
Vodacom Launches Affordable Student Bundles, Empowering Youth to stay connected during Youth Month
Vodacom has introduced a new range of mobile data bundles designed for students who are on Vodacom’s NXT LVL proposition. These student bundles are launched to offer relief at a time when the cost of living keeps rising and the interest rate is at a 14-year high, putting immense pressure on our already burdened youth
Nigeria's Currency Drops by One-Third of Its Value on Official Market
Nigeria's central bank made a significant move by allowing the naira currency to fall by up to 36% on the official market. This decision comes shortly after the suspension of Godwin Emefiele, the central bank governor in charge of overseeing the highly criticised multiple exchange rate system. Nigeria has struggled with foreign currency shortages for
AI must not become a driver of human rights abuses
It is the responsibility of AI companies to ensure that their products do not facilitate human rights violations. On May 30, the Centre for AI Safety issued a public warning about the dangers that artificial intelligence poses to humanity. The statement, signed by over 350 scientists, business executives, and public figures, emphasised the importance of
The Deterioration of Executive Oversight at Transnet.
Transnet, South Africa's state-owned goods transport and logistics company, faced the difficult task of recovering from the state-capture era in 2018. In an effort to restore transparency, accountability, and efficiency within the organisation, Public Enterprises Minister Pravin Gordhan appointed a new Transnet board. This new board, comprised of 12 independent non-executive directors and two executive
Struggles of Sahara Salt Diggers: Battling Conflict and Fluctuating Income
A trade that has been passed down from generation to generation in the vast expanse of the Sahara Desert is now on the verge of extinction. The salt pans of Kalala, near Bilma in northeastern Niger, which were once a bustling hub for traders and their camel caravans, now face a bleak future due to
Securing Your Future By Saving For Retirement
Retirement is an inevitable part of life that every one of us has to go through. Saving for retirement is crucial. It is important for one to think beyond your current income and need to plan beyond retirement. Nidia Lourens, Senior Actuary at Metropolitan, sheds light on the importance of building a nest egg for the
Rand Retreats as Fed Hints at Additional Rate Hikes in 2023
The South African rand, which had gained significantly earlier in the day, suffered a minor setback after the US Federal Reserve signalled its intention to raise interest rates further this year. According to AFP, the Federal Reserve of the United States chose to keep its benchmark lending rate at a range of 5.0% to 5.25%,
Nairobi, Kenya: Nominations Open for the 2023 Africa Startup Ecosystem Builders Summit & Awards
The highly anticipated Africa Startup Ecosystem Builders Summit & Awards (ASEB) is pleased to announce that nominations are now officially open for the ASEB 2023 event. Taking place from December 6th to 8th in Nairobi, Kenya, ASEB 2023 promises to be bigger and better than ever before. ASEB aims to celebrate the remarkable individuals and
SA Retail Sales Volume Rise, Eskom Says it will keep rotational power cuts suspended
Stats SA yesterday reported that retail sales volumes rose 0.4% m/m sa in April after falling by a revised 0.6% in March (previously: -0.7%). Despite the sharp escalation in load shedding in April, the monthly rise in sales volumes was broad-based across retailer types, suggesting that businesses are increasingly finding ways to mitigate power-related disruptions.
First Impressions of the One UI Watch 5 Beta Update
Owners of the Samsung Galaxy Watch 4 and Galaxy Watch 5 have recently been granted access to the One UI Watch 5 and Wear OS 4 beta updates. These updates are expected to improve and add new features to various aspects of the user experience, such as safety, fitness, and sleep. Although the beta programme
South Africa Seeks China's Assistance to Address Solar Panel Supply Constraints
South Africa's Minister of Electricity, Kgosientsho Ramokgopa, intends to seek Chinese government assistance in ensuring consistent access to solar panels to meet the country's growing demand for alternative energy sources. Ramokgopa will travel to China this week to meet with six of the country's largest solar equipment manufacturers in order to facilitate easier solar panel
Sacci Calls for Increased Investment Amidst Declining Mood
Following a one-year low in business confidence, South Africa's major commercial lobby group, the South African Chamber of Commerce and Industry (Sacci), has emphasised the importance of the country focusing on attracting foreign investment and expanding trade relations. According to Sacci's index, average business confidence fell to 106.9 in May from 107.1 the previous month.