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New R2.4 billion development is bringing affordable housing to Stellenbosch, With houses starting at R850,000
A new complex is set to open in Stellenbosch, with the goal of offering affordable housing to a region that is famously pricey. The Newinbosch area intends to bring cheap, secure living to the mostly privileged Stellenbosch residential market after over six years of meticulous planning, lengthy pandemic delays, and a demanding development clearance procedure.
Zoom founder and CEO Eric Yuan announces he will take 98% salary cut
Zoom CEO Eric Yuan has announced that he will take a pay cut to the tune of 98% as the reason for laying off staffers. Yuan made headlines this week following the fact that he was laying off 1 300 workers and he told the media he would also be taking a 98% salary cut
Pricing: New entirely electric Volvo currently available in South Africa
The completely electric Volvo C40 Recharge has gone on sale in South Africa, with a starting price of R1,285,000. The vehicle's first allocation in South Africa is 50 units, with the first customer cars slated to arrive in June 2023, according to Volvo. Orders may be placed using the My Volvo website. The C40 Recharge
Where to watch Ramaphosa's SONA 2023 in real time
On Thursday, 9 February 2023, at 19h00, President Cyril Ramaphosa will deliver the State of the Nation Address (SoNA). The speech will be delivered before a joint session of the two houses of Parliament and will be webcast and aired on a variety of media, including news networks, radio stations, DStv, and live-streaming sites like
South Africa has passed new legislation to limit ministers perks and freebies
The Democratic Alliance has announced its intention to present a private members' bill (PMB) in parliament to limit the benefits and privileges given to cabinet ministers. The PMB notice was presented by DA MP Dr Leon Schreiber at the end of January, with comments on the bill accessible until 20 February 2023. The proposed bill
Economist: South Africans have realised that no one would come to their aid
According to the continent's largest bank, self-generation of energy by South African businesses and homes is expected to lessen rolling blackouts without jeopardising the state power utility's economic model. According to Goolam Ballim, chief economist of Standard Bank Group Ltd, as much as 1,000 megawatts of new generating capacity from privately held auxiliary power systems
Twitter increases character limit for Blue subscribers
Twitter Blue customers in the United States may now send tweets with up to 4,000 characters. Members were previously restricted to 280 characters per tweet. The "Blue" membership on Twitter allows paying users to edit tweets within 30 minutes of posting them, upload lengthier and full HD videos, and utilise NFT avatars. The capability may
Microsoft rejoined the $2 trillion club
A recovery in Microsoft Corp. shares sees the software giant's market value expected to close above $2 trillion (R35.44 trillion) for the first time in almost six months, as technology equities bounce. Microsoft gained up to 3.4% to $276.76 early Wednesday, joining Apple Inc. as the only firms with market capitalizations more than $2 trillion.
British Airways and Airlink have joined together to improve flight connectivity in South Africa
Airlink, a domestic airline, has announced a new codeshare arrangement with British Airways, which would improve air travel between the UK, Europe, North America, and more than 15 Southern African locations. Travelers travelling from Cape Town or Johannesburg, or transiting through London (or vice versa), will be able to connect to their destination on a
Why is rand weak right now
The rand is much lower versus major currencies, owing to global and domestic pressures. On Tuesday (7 February), the local currency fell to a low of R17.69 per dollar, rebounding only marginally to roughly R17.55 on Wednesday morning. The rand's decline, according to Investec chief economist Annabel Bishop, is mostly due to risk sentiment changing,
What to expect from Ramaphosa's State of the Nation Address today
On Thursday, President Cyril Ramaphosa will make his annual State of the Nation Address (SONA) (9 February). The State of the Nation Address (SONA) is an important opportunity for the public to learn about the government's plans and priorities for the next year. With South Africa experiencing record load shedding and cash-strapped customers struggling to
<strong>Cape Town launches initiative to place the city as the gateway to Antarctica</strong>
The mayor of Cape Town Geordin Hill-Lewis has just launched a massive initative to position Cape Town as the ‘Gateway to Antarctica’. Hill-Lewis took the world’s most extraordinary day-trip from the Mother City to the remote continent on Monday. Per a statement from the City of Cape Town, the mayor was joined by Alderman James
Mining giant Anglo American decries Transnet’s continuous failures, calls for action
Mining giant Anglo American is now calling for a private-public partnership that will see Transnet back to its best. According to Anglo American's CEO, Duncan Wanblad, he says the partnership will improve performance at South Africa's state-owned rail and port firm Transnet. Transnet has failed to meet demand and has hampered the miners' ability to
Congo's president seeks additional green energy metal exploration
Tshisekedi stated that exploration for the two minerals will begin "in the coming days" in Congo's southern, diamond-rich Kasai area. According to President Felix Tshisekedi, the Democratic Republic of the Congo intends to position itself as a vital supply of metals in the green energy transition, which would include additional nickel and chrome discoveries. Exploration
Permanent power outages are the new normal in South Africa
Electricity shortages are a "permanent new reality" for South African businesses, according to retailer Pick & Pay Stores Ltd. The associated costs are significant. Despite the worst national power outages on record, the country's largest food stores have upped their investments in standby generators, rooftop solar panels, and refrigerated trailer trucks. Shoprite Holdings Ltd. said
Microsoft is deleting the data of free Teams corporate users unless they purchase a premium subscription
Unless customers subscribe to a commercial version, Microsoft will destroy data from the free tier of its Teams productivity programme for small enterprises. The business just introduced a new Teams edition that includes an AI-powered Premium iteration. Along with the new Premium edition, Microsoft is introducing an upgraded "Teams (free)" service and will phase down
Pick n Pay spends roughly R350 million on diesel in just ten months
Retailers encourage the government to come up with a long-term solution to load shedding as soon as possible. Despite increased sales, supermarket retailer Pick n Pay said it spent about R350 million on fuel to keep generators operating at its stores in order to avoid the effects of load shedding on its operations. Consumer demand
There's a lot to read in Spar CEO's easy exit
The wording employed by the board to describe Brett Botten's departure minimises the gravity of the situation. What should the board do when its CEO is embroiled in a minor but damaging incident involving dubious accounting practises? Of course, you'd fire him, right? But it was too much for Spar, one of the country's largest
Slight but uninspiring increase for the BETI in January
‘More-of-the-same’ can be expected in 2023 as challenges to the economy prevail After breaking six months of declines in December, the BankservAfrica Economic Transactions Index (BETI) improved again in January 2023. Yet, despite this positive movement, ‘more-of-the-same’ can be expected this year as economic woes prevail. “The BETI improved to an index level of
<strong>AfriSam sets the standard in sustainable business practices</strong>
AfriSam is the long-standing leader of sustainable construction materials manufacturing in South Africa, having reduced its carbon emissions by 33% since 1990, leading the pack in South Africa to decarbonise cement manufacturing. The cement conglomerate emphasises its sustainability push to 'green' the sector at several levels at the same time, positioning it as a pioneer in