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Western Cape has a new large economic development zone with R21 billion investor pipeline
The Freeport Saldanha Industry Development Zone is expecting R21 billion in investment, thanks to the historic signing of a Memorandum of Understanding (MOU) between the entity and Sasol. Mireille Wenger Finance and Economic Opportunity MEC and Western Cape Premier Alan Winde applauded a collaboration announced Wednesday between Sasol and ArcelorMIttal SA to produce sustainable fuels
West Wits reaches toll agreement with SA’s Ezulwini Mining Company
South African miner, Ezulwini Mining Company, has reached an agreement with Junior West Wits for toll-treating ore from the Witwatersrand Basin project. Information gathered by BusinessTech Africa suggests that under the terms of the agreement, West Wits will supply Ezulwini, which is a subsidiary of Sibanye-Stillwater, with 15 000 t a month of gold-bearing material.
SA sneaker brand Bathu denies claims they are selling to US-based Nike for R1.4 billion 
A much-publicised takeover by American sports manufacturer Nike of South African shoe and sneaker brand, Bathu, has caused on social media but the local company has rubbished it. Bathu SA says there is no agreement between or offer from Nike despite a social media post, suggesting the American company has forked out R1.3 billion to
Good news for South African flight tickets
FlySafair, a South African low-cost airline, predicts that local flight prices will fall to more familiar levels by February 2023. This comes after a period in which volatility and a lack of airline seat supply caused a temporary increase in the average cost of a flight ticket. Kirby Gordon, FlySafair chief marketing officer, said, “We
Phillip Morris South Africa appoints ex-Standard Bank IT guru Mary Mahuma
Former Standard Bank information technology head senior lead Mary Mahuma has landed a top role at Phillip Morris South Africa. Mahuma has been appointed as the new Head of Information Technology at Philip Morris South Africa (PMSA), a leading international tobacco company. Mary Mahuma joins the company, Phillip Morris in South Africa to spearhead the
Relief in SA as SATAWU appeals to Transnet members to return to work
There is a sigh of relief in the entire South African business sector following the expected return of Transnet workers affiliated with the South African Transport and Allied Workers Union, SATAWU. The union, SATAWU, announced that it has appealed with its members to return to work at their Transnet workstations. SATAWU spokeswoman Amanda Tshemese has
Dimanond miner De Beers appoints Malebogo Mpugwa to its ExCo
Diamond mining giant De Beers has made major appointments in its executive following the introduction of Malebogo Mpugwa, Riaan Burger, Rasila Vaghjani, and Ryan Perry to its executive committee. The quartet including, Mpugwa, are some of the internal appointments made by De Beers as the diamond miner looks to yield positive results in the foreseeable
Emerging farmers see cattle dying from drinking contaminated water
A farming community in the eastern Free State is hit by cattle deaths as a result of drinking sewer-contaminated waters. Livestock from Commonage farm in Fouriesburg, a small town in eastern Free State, has seen cattle allegedly dying like flies due to drinking sewer water from the nearby inoperative sewer treatment plant. An emerging farmer,
SA’s ideal power system could cost up to 3.1 trillion
South Africa’s ideal power system, which is both cost effective and emits the fewest greenhouse gases, consist of solar PV, wind, and battery storage. According to a report by the National Business Initiative (NBI), the capital required for such a system range between R2.3 trillion and R3.1 trillion. The NBI, in collaboration with Just Share
MRI SOFTWARE OBTAINS TPN GROUP
MRI Software, a provider of real estate software solutions, has obtained Johannesburg-based credit bureau TPN Group as part of its expansion into the South African market. MRI announced the acquisition on Wednesday, saying that bringing TPN on board will strengthen its capabilities in its property management and accounting software portfolio, an area where TPN has
South Africa faces bad news as interest rates rises
South Africa interest rates will only cease if inflation remains below the midpoint of the central bank’s target range, according to Reserve Bank Governor Lesetja Kganyago. The bank’s official target range for price growth is 3% to 6%, but its monetary policy committee prefers to anchor inflation expectations near the middle of that range. According
ESKOM LENDERS SEEK HELP FROM PwC
Eskom lenders have hired PrincewaterhouseCoopers (PwC) to assist them with negotiations. According to News24, the banks asked consultants at PwC to assist them with negotiations. Representatives of PwC and Eskom didn’t immediately respond to request for comment. Those who are familiar with the situation at hand, who aren’t authorized to speak about the matter and
African airline operators slightly recover from the raging Covid-19 pandemic
Inspite of challenges, African airline operators are on the road to recovery as they are noticing signs of recovery from the devastating Covid-19 pandemic. Across Africa as a whole, the commercial aviation sector had largely, but not entirely, recovered from the effects of the Covid-19 pandemic. This sentiment was shared by African Airlines Association secretary-general
Black citrus farmers to benefit from a R40 million investment by CGA
BusinessTech Africa has gathered that Black farmers are set to benefit from a R40 million investment by the Citrus Growers’ Association Growth Development Company (CGA-GDC). The staggering amount has been set aside by citrus growers, CGA-GDC, to support emerging black citrus growers. Citrus Growers Association CEO Justin Chadwick, said the Enterprise Development Grant Fund (EDGF)
MTN calls off takeover talks with Telkom citing lack of exclusivity
South African mobile telecommunications operator, MTN, said on Wednesday it is no longer going ahead with the Telkom takeover talks. Telkom is the country’s third-largest mobile operator and also confirmed that MTN has called off takeover talks due to a lack of exclusivity. MTN previously announced the discussions about a potential acquisition in July, while
Struggling SAA in talks to buy new Airbus aircraft for its new long haul route
South African Airways (SAA) has announced plans to buy new aircraft from Airbus and that is according to interim chairman John Lamola. Lamola who also serves as the Chief Executive Officer of SAA said they will be announcing a new route in December as they look to revive the airline. The state-owned SAA has experienced
Sasol joins forces with ArcelorMittal to explore carbon capture technology
South African petrochemical company, Sasol, announced a partnership with ArcelorMittal South Africa to explore carbon capture technology. BusinessTech Africa has gathered that Sasol and steelmaker ArcelorMittal South Africa will also explore steel production using green hydrogen – Sasol announced on Tuesday. Green hydrogen, produced from splitting water into hydrogen and oxygen using renewable energy sources
Pick n Pay increase it’s turnover under Ekuseni strategic plan
In May 2022 Pick n Pay group launched Ekuseni strategic plan, which resulted to growth of medium-term sales and profit targets with dividend of 25.3%. Pick n Pay shared their full H1 FY23 interim results announcement. According to Pick n Pay, the Group delivered a positive performance in its first trading period under the Ekuseni strategic
Zambian government to limit mining licences to five per company
As the second largest copper producer in Africa, Zambia has announced changes to its mining and also said a company can only be allowed to hold five licences. Zambia announced the new changes on Monday that the number of mining licences that a company can hold at a time will be restricted to five to
Transnet strike costs the South African berry industry R134 million weekly
As the strike involving Transnet and its workers affiliated with African Transport and Allied Workers (Satawu) continues, it costs South Africa’s berry industry as much as R134 million weekly. Since the strike by Transnet workers began almost two weeks ago, as many as 80 containers of berries that were headed for the country’s European markets