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How much you have today if you invested R100 in Vodacom and MTN in 2009
Thirteen years ago, if you had invested R100 in each company and reinvested dividends, you would have received R451 from Vodacom instead of R207 from MTN. The two biggest telecom firm in Africa, Vodacom and MTN, control the local mobile market. Investors in South Africa that seek exposure to the telecom industry frequently have to
This December, expect petrol prices to rise while diesel prices to fall
It seems those December road trips will become more costly as the price of petrol rises. While this is unfortunate for those who drive petrol-powered vehicles, it appears that those who drive diesel vehicles will be spared. According to the most recent data released by the Central Energy Fund on November 14, there is currently
Airbnb CEO Brian Chesky Responds to House Cleaning Chores and Cost Transparency Complaints
Airbnb CEO Brian Chesky has stated that he can hear you "loud and clear." In addition, the company is changing its search function to prioritise listings based on "total price," rather than just the nightly fare. Customers have been vocal about rising prices, onerous check-out procedures, and a lack of transparency about how they are
Carl Niehaus stage one-man protest against Cyril Ramaphosa
Carl Niehaus, the spokesperson for the Umkhonto weSizwe Military Veterans Association (MKMVA), kept his promise to protest President Cyril Ramaphosa when the ANC's National Executive Committee met over the weekend. Despite the rain and poor weather, Niehaus stood outside the Nasrec centre, where top ANC leaders were meeting, and demanded that Ramaphosa resign. And he
To avoid a repeat of Covid-19, the G-20 has established an R25bn global pandemic fund
The Group of 20 countries has raised $1.4 billion (R24.9 billion) for a global pandemic health fund in order to prevent a repeat of the Covid-19 outbreak, which killed over 6.6 million people and crippled the global economy. The World Bank will manage the fund, which will help low- and middle-income countries prevent and respond
Carl Niehaus says President Cyril Ramaphosa must resign
Cyril Ramaphosa, President of the ANC, must resign. Carl Niehaus, a spokesperson for the Umkhonto weSizwe Military Veterans Association (MKMVA), has made this call. Niehaus intended to exercise his "freedom of expression" by urging Ramaphosa to resign as ANC president, accusing him of bringing the ANC into disrepute and contributing to the country's current state.
Mantashe warns against publicly mocking Ramaphosa
As more ANC leaders gather in Nasrec this weekend for the party's NEC meeting, ANC national chairperson Gwede Mantashe has urged party members to refrain from raising issues on public platforms. Mantashe, who is present, spoke out against the public spats that have plagued the ordinary political meeting, which has debated the Phala Phala farm
Despite growing calls at the ANC NEC meeting, Ramaphosa remains steadfast in his refusal to step down
Dr. Nkosazana Dlamini-Zuma has demanded that President Cyril Ramaphosa resigns in the wake of the Phala Phala farm scandal. Dlamini-Zuma, who attended the ANC's National Executive Committee meeting over the weekend, where ANC members discussed a variety of issues, said Ramaphosa needed to demonstrate that he respects the ANC's step-aside resolution. Following the Phala Phala
Lenovo introduces the ThinkSmart One, the world's first all-in-one collaboration bar based on Windows
The Lenovo ThinkSmart One Collaboration bar expands Lenovo's video conferencing and collaboration platforms, which aid in employee productivity and engagement. ThinkSmart One all-in-one (AIO) bar is designed for small to medium meeting rooms or dedicated home office spaces and features an eight-microphone array with echo and noise cancellation, 15-Watt stereo speakers, and an integrated high-resolution
DStv has stopped losing Premium subscribers
MultiChoice has halted the decline of its top-tier DStv Premium subscriber base, with the number of customers on this package increasing marginally year on year in the six months to September 30. This is a significant improvement over the 3% drop in Premium subscribers at this point last year. This base has been under significant
Musk's Twitter ownership is further destabilised as key executives resign
Elon Musk's Twitter ownership descended further into chaos on Thursday, as key security executives resigned, drawing a harsh warning from US regulators. The walkouts occurred just one day after Tesla and SpaceX owner Musk's $44 billion purchase of the influential messaging app. Musk warned employees on Thursday that the site was burning through cash at
A spinoff of Ethos Private Equity has created a black-owned fund manager
A new independent and black-owned equity fund manager, Infinite Partners, has been established as a result of investment manager Ethos Private Equity's spinoff of its Mid Market Fund. The new fund manager created through the spinoff procedure has a founding team that is 75% female and 100% controlled by people of color. "Ethos Mid Market
Airport operations not affected by PSA strike as they carry on as usual
A strike by the Public Servants Association of SA (PSA), which was anticipated to impede immigration processing and other crucial government operations like those at Home Affairs, has not yet had an impact on South Africa's international airports. The PSA, which represents more than 235 000 workers, began its strike on Thursday and is calling
FNB introduces the R200 million Vumela fund to support small businesses
The fourth Vumela fund, worth R200 million and launched on Tuesday by FNB, aims to provide alternative financing to 150 black-owned businesses and create 1,000 jobs. The commercial banking division of FNB created the Vumela Enterprise Development Fund in 2009 in collaboration with the venture capital and private equity firm Edge Growth. Vumela, which is
The Post Office does not have enough funds to cover medical expenses
The South African Post Office (SAPO) has failed to pay over-staff medical aid contributions to its medical aid provider, Medipos, for the second time in two months, as the entity's financial crisis worsens. The DA has since stated that it will report the entity to the Commission for Conciliation, Mediation, and Arbitration (CCMA) for its
Enoch Godongwana, Finance Minister, on protecting the poor from the impact of rising costs
Finance Minister Enoch Godongwana stated that there is a valid argument for protecting the poor from the impact of rising living costs, but determining the type of assistance that should be provided and how to pay for it is still a work in progress. "We need to discuss what is the appropriate form of cushioning
As the PSA strike begins, the hospital union holds public wage protests
Nursing and state hospital employees affiliated with the Health and Other Services Personnel Trade Union of SA (Hospersa) protested the deadlock in public sector wage negotiations on Thursday. This comes as the Public Servants Association (PSA), which has 235 000 members, began its strike in the public sector with several marches on Thursday. The government
Transnet former legal chief in court for alleged cash and ‘illegally co-approving’ an R25m payment
Kenneth Diedricks, the former legal head of Transnet Freight Rail, appeared in court after being charged with accepting bribes of R300,000 in cash and a Persian carpet from two companies with which the state-owned entity did business. On Wednesday, he appeared in court alongside Charles Pretorius and Refiloe Martins of Polyzomba Rail Contractors, the company
Prasa suspends its ex-acting CEO following serious allegations
The Passenger Rail Agency of South Africa (Prasa) has suspended David Mphelo, its chief information officer, following allegations that he was involved in "irregularities in recruitment and procurement" while acting CEO. Mphelo served as the group's acting CEO for six months before being replaced by Hishaam Emeran on August 30th. Prasa's board said in a
Elon Musk sells $4 billion in Tesla stock following the acquisition of Twitter
According to filings published by the US Securities and Exchange Commission on Tuesday, Tesla CEO Elon Musk sold 19.5 million shares in the electric car company for $3.95 billion. The move follows his $44 billion purchase of Twitter. Musk has sold nearly $20 billion in Tesla stock since his initial investment in the social media