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South African Reserve Bank to unveil new coins in January 2023
After announcing changes to South African coins back in August, the South African Reserve Bank will finally unveil them in January next year. Media reports indicate that the South African Reserve Bank has gazetted the new designs for the 2023 Fourth Decimal Coin Series of South Africa. BusinessTech Africa understands that the R5, R2, R1,
Coal exporter Thungela to own 100% of Zibulo Colliery
South African coal exporter Thungela Resources has officially agreed with its black economic empowerment partner Inyosi Coal. The partnership is all about buying a 27% interest in Anglo American Inyosi Coal (AAIC) which is under Inyosi’s ownership in exchange for shares in Thungela. This has come to the attention of BusinessTech Africa that 100% of
US retail giant Walmart wraps up R6.4 billion ownership of Massmart
United States-based retailer Walmart has just wrapped up its mission to acquire 100% ownership of Massmart. Walmart’s move comes after the company bought a 51% stake in Massmart more than 10 years ago. Media reports suggest that Walmart pronounced the intention to over Massmart back in August as also reported on by BusinessTech Africa. The
<a><strong>SA science wizkid wins gold at Turkey international science fair </strong></a>
One young and gifted South African scientist, Pieter Huysamen has scooped a gold medal at this year’s Buca International Music, Science, Engineering Energy Fair (IMSEF) in Turkey. Huysamen is a learner whose research seeks to address South Africa’s need for more energy-efficient buildings and construction materials. The 17-year-old Huysamen Grade 10 learner at Hoërskool Jan
Chris Hani: ANC divided on Janusz Walus’ release on parole
As the topic surrounding the release of former SACP leader Chris Hani's killer, Janusz Walus’ release on parole is still trending, ex-South African ambassador to Qatar Faizel Moosa has slammed the courts. Moosa argues the South African justice system is flawed because Hani fought for democracy and Walus can’t be freed because the country lost
Disgruntled Makro workers threaten to down tools on Black Friday
South African consumers are now bracing themselves for a massive shopping spree this coming weekend during the eagerly anticipated Black Friday. However, BusinessTech Africa has discovered that one of the country’s biggest retailers or wholesale stores, Makro, is facing possible financial losses due to a planned strike by its workers. This comes after Makro workers
JSE-listed Curro Holdings announce major changes in top management
One of the country’s leading private school groups, Curro Holdings has announced major changes in its management structure. Curro has roped in Burtie September as Chief Financial Officer who will succeed Cobus Loubser who vacates the position as he was appointed as the new Executive Director of the group. As listed in the Johannesburg Stock
Telkom’s board chair Sello Moloko steps down to focus on Absa
Outgoing Telkom board chairperson Sello Moloko has explained his decision to leave the state-owned telecommunications company. Moloko says leaving Telkom is based on the demands of the job which were too much to handle for him. Telkom has announced it has already started the process of searching for Moloko’s successor as he will step down
Ethiopian Airlines reaches agreement to ferry African passengers to India
Aviation news coming through from Ethiopia is that Ethiopian Airlines has reached an agreement with TravoCure Healthcare to ferry passengers seeking medical care in India. Various aviation publications report that the East African Airliner, Ethiopian, has formally partnered with TravoCure which is a subsidiary of the Akbar Group. The partnership will see Ethiopian Airlines providing
Financial services provider Old Mutual unveils plans to launch a new bank in 2024
Old Mutual has unveiled plans to launch a new banking institution in 2024 following approval from the South African Reserve Bank. One of South Africa’s biggest financial services providers, Old Mutual, says it has received approval from the Reserve Bank’s Prudential Authority to apply for a banking licence. In an update sent out on Tuesday,
Botswana accepts Jindal’s bid to build a 300MW coal power project
An Indian steelmaker Jindal Steel & Power Ltd has secured a deal with Botswana as it will build a 300 megawatt (MW) Coal power plant. BusinessTech Africa has discovered that the Southern African nation, Botswana, has selected Jindal Steel & Power as its preferred bidder for the project. An official notice from the energy ministry
Meet the man behind All Day Jam: Gontse Selaocoe
A young local man is wreaking havoc in the business space and township economy after launching his brand of jam. Gontse Selaocoe is based in the Vaal, Orange Farm, and started his jam-making company, All Day Jam at the age of 19. Now 23, Selaocoe also grows and sells vegetables in his area, he reveals
Broadband Infraco announces Gift Zowa as interim CEO
State-owned South African infrastructure provider Broadband Infraco has announced the appointment of Gift Zowa who will be as acting CEO. Broadband Infraco announced that Zowa’s appointment is effective from November 16 and he resumes his new role and replaces Andre Matseke as per a statement from Broadband Infraco. Armed with a BSc honours degree in
Spar investigated for blocking OBC from trading in South African malls
South African grocery store, Spar has come under fire after it was accused by a local butchery, OBC, of blocking it from operating at malls. While Spar has since rubbished the claims, the Competition Commission has confirmed receiving a complaint from OBC. According to Moneyweb, Siyabulela Makhunga says the matter between Spar and OBC is
Vallery Horing raising the bar & secures multi-million tender at Kumba Mine
One South African woman, Vallery Horing is setting the standard for women in the mining and transport sector as she owns Loading Techniques. Loading Techniques is a company that is contracted to Kumba Iron Ore and operates in the Northern Cape town of Postamsburg. Through her company, Loading Techniques, Horing is raising the bar in
SARS welcomes the arrest of a former official who helped a Rolex smuggler
The South African Revenue Service (SARS) has welcomed the arrest of one of its employees who was jailed for seven years. SARS said anyone who broke the law deserved the heaviest sentence as SARS commissioner Edward Kieswetter responded to it. It is widely reported in South Africa that SARS officer, Malatse Kolokoto, was found guilty
Freight giant Transnet partners with Huawei to increase competitiveness
South African freight rail company, Transnet, is partnering with Huawei as it is repositioning its freight transportation system to increase competitiveness. Media reports indicate that Transnet has set out to digitalise its ports and railway network operations. BusinessTech Africa found out that Transnet's digital strategy is built on the utilisation of cutting-edge ICT to increase
US carmaker Ford unveils first new Ranger assembled in Pretoria
American carmaker Ford, has just completed assembling the Ford Ranger in its Silverton plant in Tshwane, South Africa. Ford has completed Job 1 of the Ford Ranger and it is announced in the news that the production comes after a multi-billion rand investment. The American automobile manufacturer, Ford, forked out R16 billion to produce the
Beermaker SAB unveils new logo and slogan: “Cheers to the future”
South Africa's beermaker, South African Breweries (SAB) has launched a new logo as the company is now looking at its improved brand repositioning. Apart from the brand new logo, SAB also unveiled its new slogan and the logo features a gold circle that transitions into a red line, thus intersecting with a red typeface to
Mining giant De Beers registers good demand for rough diamonds
BusinessTech Africa has learned that rough diamond sales for the ninth sales cycle of the year were $450 million for the diamond miner De Beers and the demand is growing. Mining group, De Beers, claims it has continued to use a more flexible approach to rough diamond sales during this cycle, with the sighting event