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Sibanye Stillwater acquires 71% of Australian zinc company
Mining company Sibanye Stillwater announced that it has acquired an almost 71% stake in New Century Resources. The miner said on Tuesday that this comes two weeks after launching an unsolicited takeover bid as it lost confidence in the Australian zinc miner's board. IOL Business reports that the South African precious metals producer launched an
Namibia registers growth in mutton & lamb export
Information coming from Namibia is that since its reopening in the second half of 2022, the Farmers’ Meat Market export abattoir in Mariental, Namibia, has processed payment of R10,9 m, excluding VAT, to 46 sheep producers in that country. The Namibia Agricultural Union (NAU), the price averaged R91,60/kg for lambs weighing an average of 17,9kg.
South Africa’s greylisting to also stifle job creation plans
The effects of greylisting in South Africa will be felt in various sectors of the economy and that includes job creation, according to Youth Employment Service (YES) CEO Ravi Naidoo. South Africa has been greylisting by the Financial Action Task Force (FATF), a global money laundering and terrorist financing watchdog, and this will stifle the
ACSA says fuel shortage has eased at Cape Town International
Media reports suggest that the jet fuel supply crunch at Cape Town International Airport has seen some improvement over the past 24 hours. This comes after talks that continued late into Friday night between fuel suppliers and airlines, Airports Company South Africa said on Saturday. A major fuel supplier has also since advised that production
Nedbank predicts SA recession & lower growth in 2023
Nedbank believes South Africa has likely entered a recession and this is due to the rolling power cuts. The banking institution is among the country’s big-six banking groups, and it estimates that GDP in the final quarter of 2022 shrunk by 0.4%. Nedbank says this following intensified rolling power cuts weighing on productivity and a
University of Johannesburg says its electric buses are locally assembled
After purchasing electric buses, the University of Johannesburg says the vehicles are assembled locally. BusinessTech Africa recently posted that UJ purchased two battery electric buses to ferry students between its various campuses. The decision to roll out the buses follows a test period last year during which the university used a similar demonstration vehicle as
<a>MTN registers growth in Uganda as it boasts 17.2 million subscribers</a>
Mobile telecoms operator MTN has registered massive growth in Uganda as it is the fourth-biggest market of Africa's largest mobile operator. BusinessTech Africa has discovered that MTN Uganda has grown its profits by almost a fifth in its 2022 year, benefiting from a network rollout as well as strong demand for its data and fintech
South Africa to introduce new regulations on cryptocurrency
The South African Reserve Bank plans to introduce new regulations on cryptocurrency transactions in the country within the next 12-18 months, Kuben Naidoo said. Naidoo said in PSG's latest ThinkBig webinar that South Africa is on par with other countries in terms of cryptocurrency regulation, but the first hype surrounding digital currencies and technology has
