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Southern Sun Hotels Thrive with Boost from Netball World Cup and BRICS Summit
Hotel operator Southern Sun has reported a significant increase in group occupancies, attributing the rise to a series of major events in the Western Cape, notably the recent Netball World Cup. According to the company's update during its Annual General Meeting, group occupancies for the five months up to end-August increased by approximately 11 percentage
Intra-Africa Trade Challenges: Insights from Standard Bank 2023
Standard Bank has highlighted the considerable challenges facing intra-Africa trade in 10 prominent African markets, emphasizing the persisting difficulties due to currency shortages and inadequate infrastructure. The scarcity of foreign currency, especially the US dollar essential for imports, is exacerbated by currency volatility and international capital flight, according to the 2023 Standard Bank Africa Trade
EasyEquities Introduces Securities-Based Lending to Clients
EasyEquities has introduced securities-based lending, attracting inquiries from qualifying clients for over R5 million in margin loans on the first day. This move by the country's largest retail investing platform signifies a strategic expansion in financial services. Almero Oosthuizen, the head of product at EasyEquities, clarified that this lending option is available to portfolios that
Elon Musk Contemplates Implementing a Monthly Fee for X Users
Elon Musk, the entrepreneur at the helm of the social media platform X, is considering a significant change that could reshape the platform. This potential alteration marks a pivotal moment since he assumed control of the platform, formerly known as Twitter, in October of the previous year. However, industry experts express doubts about the feasibility
South Africa's Aspen to Produce Human Insulin in Landmark Novo Nordisk Partnership
Aspen Pharmacare, Africa's largest drug manufacturer, has recently forged a ground breaking agreement with Danish healthcare company Novo Nordisk to establish South Africa's inaugural production facility for human insulin. Novo Nordisk presently provides medications to over 500,000 diabetes patients across the African continent. However, this collaborative effort is aimed at significantly increasing production, with aspirations
Protecting Property Rights: Clientèle's Legal Battle Against Debit Order Reversals
Recent court documents have revealed a concerning quadrupling of debit order reversals over a span of six years, prompting the insurance company Clientèle to take legal action against the Payments Association of South Africa (Pasa). The objective is to halt clients from declaring unjustified disputes to reverse their monthly debit orders. Clientèle contends that the
PPC Addresses Challenges and Gains Profit Amidst SA's Cement Market Dynamics
Africa's largest cement producer, PPC, faces persistent volume challenges in South Africa (SA). Despite a 6% decline in cement sales volumes, a strategic 10% price hike has contributed to a boost in operating profit. The company has also experienced growth in other operational areas. In an official update, PPC revealed a 5% increase in group
The reality of savings for South Africans
According to Deloitte’s South African Investment Management Outlook 2023, which compares South Africa’s savings rate with other countries, the country’s saving habits are far below average. This makes it more critical to drive awareness about savings amongst South Africans. Research indicates that there is no good or bad savings personality – when it comes to
BankservAfrica appoints Stephen Linnell as new CEO
BankservAfrica, a designated systematically important financial market infrastructure responsible for delivering payment services for the smooth functioning of South Africa’s financial markets and economy, is pleased to announce the appointment of Stephen Linnell as CEO, effective 1 October 2023. “Stephen’s credentials as a dynamic executive across a wide range of disciplines is impeccable. His passion
The future of investing: Three technology-enabled trends
The realm of online trading has changed indelibly since its earliest inception. Today, even the most novice traders can own and trade instruments such as commodities, cryptocurrency, forex, and bonds. This ‘democratisation’ or broader market accessibility has; for the most part, been powered by rapid technological advancement, which has in turn led to a significant
Africa payments innovations hit Sibos 2023
Over the past year alone, the African continent has made significant progress in its journey towards digital, modernised payments leading to the achievement of major industry milestones, notably the welcoming of South Africa to the global low-cost real-time payments community in early 2023. “From the launch of PayShap and the rapid payments platform as part
(SPONSORED) AUTO & GENERAL CAUTIONS AGAINST SOLAR PANEL THEFT
With load-shedding now a daily occurrence in South Africa, increasingly more consumers and businesses are exploring the option of alternative power solutions. Auto & General Insurance cautions that this spells opportunity for criminals to pounce and cash in on these high value systems. “Solar panel theft is an emerging trend – one that we are
Naspers-owned Prosus launches generative AI tool called PlusOne
The Amsterdam-listed consumer internet company and subsidiary of Cape Town-based Naspers, Prosus has launched an aggregated generative AI tool called PlusOne. The tool will be operational internally by Prosus group companies, is designed to allow employees to collaborate with one another and innovate more easily. The group explained that PlusOne leverages the capabilities of more
BMW lets go of subscriptions for heated seats
BMW is no longer offering subscription fees to customers for heated seats in an early indication there will be limits for manufacturers to reap new revenue from software-based services. Telling Autocar, BMW’s head of sales and marketing Pieter Nota revealed that the company will be offering heated seats and wheels as optional equipment, rather than
President of Kenya Joins U.S.-Kenya Business Roadshow in San Francisco
William Ruto, the president of Kenya spoke to leading U.S. technology companies and investors at a U.S.-Kenya Business Roadshow today in San Francisco organized by the U.S. Government’s Prosper Africa initiative and the U.S. Embassy in Kenya. As part of a three-city U.S.-Kenya Roadshow tour showcasing opportunities for companies exploring doing business and investing in
Student-built electric car surpasses world record for distance on a single charge
Reports have revealed a team of students at the Technical University of Munich built an electric car that set a new distance record on a single charge for a non-solar EV at 2,574km. According to ArsTechnica, the EV called muc22, achieved the feat using a battery capacity less than many plug-in hybrids at only 15.5kWh.
Eskom set to build 14,000 km of transmission lines in 10 years
Eskom has plans in place to build 14,000 km of transmission lines over the next decade, an infrastructure project the likes of which South Africa has never done. Eskom’s transmission development plan outlines how the utility will expand the country’s grid to accommodate more renewable energy from private producers. Isabel Fick who is general manager
Zambia and China Presidents commit to enhancing trade cooperation as they meet in Beijing
The president of Zambia, Hakainde Hichilema was hosted by his Chinese counterpart president Xi Jinping on Friday the 15th of September. The leaders held talks at the Great Hall Of The People in Beijing. According to a statement that was released jointly by the leaders, they "had in-depth exchange of views on China-Zambia relations, China-Africa
Business can unlock growth opportunities through enhanced data insights, advanced analytics and innovation – Experian Innovation Summit
Experian South Africa hosted its annual flagship conference on Thursday 14 September, bringing together industry guests and subject matter experts under one roof to share insights and trends that continue to shape the evolution of business and consumer behaviour. This is particularly significant in a macro-economic environment that has been challenging across the board. However,
Vodacom launches ENHANCE, allowing customers to add a personal touch to their contracts
Vodacom is pleased to announce “ENHANCE” a first-in-the-market, allowing customers the ability to add their personal touch and augment their contracts – giving them the choice and control to build their world of connectivity, entertainment, and gaming, all in one. The simplified value proposition brings convenience for customers and is designed to transform the way