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SA Chamber of Commerce addresses load shedding impact on business
The South African Chamber of Commerce and Industry has lashed out at the ongoing power outages and said it will have serious implications for the economy. SACCI said on Wednesday that the load-shedding crisis would have serious implications for the economy as it hampers confidence and spooks foreign investors. This comes as the Fitch Ratings
Disgruntled Citrus Growers Association mounts pressure on President Cyril Ramaphosa
South African Citrus Growers Association is still urging President Cyril Ramaphosa to provide an update on matters related to exporting its produce. CGA is mounting pressure on the government on whether it intends to convene a World Trade Organisation (WTO) Panel to adjudicate the new False Coddling Moth (FCM) regulation governing the importation of South
The University of Johannesburg becomes the first varsity to unveil electric buses
The University of Johannesburg has set the record by becoming the first university to unveil electric buses. Based in Johannesburg, UJ rolled out two full electric buses which are already in use by the varsity. Per a media statement, the higher education institution said the buses are already ferrying students across its campuses. The buses
Worker’s unions Solidarity & CWU irked with Telkom’s retrenchment plans
South African state-owned telecoms company Telkom has come under heavy criticism following an announcement to shelve its staff. Telkom announced that it will retrench about 15% of its staff but it seems the move has irked the unions. Communication Workers Union (CWU) and Solidarity have criticised Telkom over its planned job cuts as the company
Ethiopian Airlines carried record 750 000 tons of cargo in 2022
East African airline, Ethiopian Airlines has reached a milestone as it has accrued 750,000 tonnes of cargo in 2022 with flowers accounting for 110,000 tonnes. High-tech cargo accounted for 54,500 tonnes, pharmaceuticals 30,000 tonnes, and vaccines 1,500 tonnes, says the airline. Ethiopian carried 22,500 tonnes of salmon and 6,000 live animals. The leading African airline
Automaker Ford to retrench staff at its European operations as it shifts to EV
Another big company, Ford, is planning to retrench its staff and that is the word reaching BusinessTech Africa. It is widely reported that Ford will dismiss some 11% of its workforce in Europe as the American carmaker cuts cost in the latest sign of industrial disruption caused by the automotive sector's shift to electric vehicles.
Anglo American Platinum CEO Natasha Viljoen leaving to join Newmont Corporation
Anglo American Platinum’s CEO Natascha Viljoen is set to step down from her role after serving her notice period. Viljoen has served her 12-month notice period and she leaves Anglo to join Newmont Corporation. Her new company is regarded as one of the world’s largest mining companies and leaves her role after joining the company
DRD Gold lambasts ruling ANC for hampering plans to find solutions for load shedding
Mining company DRD Gold has lambasted some of the policies implemented by the ruling African National Congress. The gold miner says the ANC is hindering solutions to the ongoing electricity issues and DRD argues that the government is not allowing the private sector to quickly ramp up generation capacity. "It seems as though certain elements
<a>South African scientists win big as they were awarded at Taiwan international science fair </a>
Congratulations are in order for two young South African scientists who raised the country’s flag in Taiwan. The two brilliant minds were recently awarded after successfully showcasing their scientific genius at the 2023 Taiwan International Science Fair (TISF) early this month. Held at the National Taiwan Science Education Centre in Taipei, Jaco Jacobs and Dia
Naked Insurance has raised R290 million in its most recent funding round
Naked, a South African insurtech business, has announced that it has secured $17 million (approximately R290 million) in its most recent funding round. The International Finance Corporation (IFC) of the World Bank Group led the Series B fundraising round. It is the world's largest development organisation focusing on the private sector in emerging nations. The
Competition Commission has launched an investigation into food costs In South African
The terms of reference for a broad market investigation into the South African fresh produce market, including pricing, have been gazetted by the Department of Trade and Industry and Competition. The Competition Commission will begin an investigation into market conditions all throughout the country's fresh produce supply chain, looking for signs of anticompetitive behaviour or
'Permanent blackouts are Ramaphosa's legacy'
The debate over President Cyril Ramaphosa's State of the Nation Address (Sona) at Cape Town City Hall on Tuesday focused on South Africa's energy situation. MPs from both Houses took part in the discussion, with ANC members defending Ramaphosa's pledges as opposition parties ripped into his address. Last Thursday, Ramaphosa proclaimed a state of disaster
The South African financial markets regulator revokes ZAR X's licence to operate an alternative exchange
The operations of ZAR X have come to an end. ZAR X was one of four new stock exchanges founded in 2017. The purpose of the alternative stock exchanges was to challenge the JSE's supremacy and encourage competition and financial inclusivity. SA's financial markets regulator has withdrawn the exchange licence of ZAR X, an alternative
In 2022, ransomware assaults on industrial enterprises surged by 87%
According to research published on Tuesday, ransomware assaults against industrial organisations surged by 87% in 2022 compared to the previous year, with the majority of malicious malware targeting the manufacturing sector. Last year, hackers attacked mining businesses in Australia and New Zealand, and they continued to target renewable energy companies in the United States and
Pick n Pay bans barrier bags, Woolworths continues to promote reusable shopping bags
Pick n Pay has removed all plastic 'barrier' bags from its checkouts, preventing 20 million of these little bags from entering the environment. Stores have long utilised barrier bags to segregate certain items such as fresh vegetables, toiletries, or cleaning supplies from other foods. Pick & Pay's barrier bag ban comes in the footsteps of
South Africa is getting new land expropriation legislation
The public comment period for the contentious new land expropriation legislation is coming to an end, with South Africans having until March 6, 2023 to give their thoughts. The Expropriation Bill, which had been rejected in 2021, was resurrected in 2022 and enacted by the National Assembly in September 2022. The measure was sent to
Daniel Mminele, former CEO of Absa, joins Nedbank
Daniel Mminele, former Absa CEO, has been appointed as an independent non-executive director and chairman-designate of Nedbank. Mminele will succeed Mpho Makwana, who is presently the chairman of the board of Eskom, the beleaguered power provider. Mminele's appointment comes only a week after he resigned as the leader of President Cyril Ramaphosa's climate funding task
Here is the anticipated petrol price for March
The Central Energy Fund (CEF) mid-month statistics indicates that both diesel and petrol drivers in South Africa will face fuel price increases in March 2023. The snapshot data for 14 February 2023 suggests a price rise of up to R1.26 per litre and 38 cents per litre for petrol and diesel, respectively. The following are
Telkom intends to sell a stake in fibre behemoth Openserve
Telkom said "various initiatives" are ongoing to sell a minority share in its wholesale and network segment, Openserve. This comes after the legal split of Openserve into a separate business on September 1, 2022. Telkom announced in a trade update with its quarterly results on Tuesday that it has received multiple unsolicited offers for Openserve.
Telecoms giants Vodafone Group ups shareholding in JSE-listed Vodacom Group
Vodafone Group has upped its shareholding in JSE-listed Vodacom Group, after the recent acquisition of Vodafone Egypt. The Johannesburg-based Pan-African telecoms operator recently clinched a R43.6 billion deal back in November. The transaction was settled through the issuance of 241 976 243 new shares to Vodafone, and €577 million (equating to R10.8 billion) in cash.