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Sappi Saiccor officially brags about R7.7 billion mill upgrade in KwaZulu-Natal
Paper and pulp company Sappi Saiccor officials were joined by President Cyril Ramaphosa when they opened the expansion and environmental upgrade project earlier this week. Ramaphosa was part of the R7.7-billion expansion and environmental upgrade project which was held in Umkomaas, KwaZulu-Natal. Sappi was represented by chairperson Sir Nigel Rudd, Sappi CEO Steve Binnie, and Sappi Southern
Mango Airlines find potential but a return to the skies remains uncertain
South African low-cost airliner, Mango, has found a potential investor for the grounded airline yet its future remains a mystery. The Department of Public Enterprises told Parliament’s portfolio committee on Wednesday that it was still waiting for a deal to be put on the table. However, South African Airways chairman John Lamola sent a warning about the
Standard Bank aims to roll out cashless simple taxi fare payment countrywide
Standard Bank South Africa has introduced a groundbreaking innovation as it looks to make life while using taxis easier. Part of the big four in the country, the bank says it plans to collaborate with more taxi associations and owners to grow the national footprint of its Taxi Yam cashless payment solution. The financial institution has already
U.S. stocks tumble after higher than expected August Inflation; Nasdaq Down 4%
U.S. stocks sold off sharply after August’s inflation report came in higher than expected. At 12:33 ET (16:33 GMT), the Dow Jones Industrial Average was down 926 points, or 2.9%, while the S&P 500 was down 3.2% and the NASDAQ Composite was down 4%. The consumer price index for August showed inflation rose 0.1% from July despite the drop in the price of
Putco resumes operations following a three-week strike
Embattled bus company Putco has issued an apology to its passengers following a strike that dragged on for more than two weeks. The company, operating in Johannesburg and Tshwane, also sent a message to the passengers for their patience while it was locked in talks with striking workers, said Eyewitness News. As the strike finally came to
Boeing predicts African airlines will need more than a thousand planes by 2041
United States-based aerospace manufacturer Boeing has shared a forecast as far as the African continent is concerned, saying the sales will go up. The company believes Africa will need 1 010 new aircraft, with a total value of $176 billion by 2041 and this demand is due to robust increases in African domestic, intra-regional and inter-regional
New Women In Finance Podcast episode by Nastassia Arendse features Sinenhlanhla Zulu
This month Nastassia Arendse introduces the next installment in her exciting new podcast series “Women in Finance". The guest is celebrated finance whizz Sinenhlanhla Zulu, Investment Specialist at Ninety One. Zulu holds an MBA from the UK’s University of Cambridge, and a BSc in Mining Engineering from the University of the Witwatersrand. “We discuss Sinenhlanhla’s
Naspers CEO Phuti Mahanyele-Dabengwa reflects on childhood in Soweto
Born in Soweto Phuthi Mahanyele-Dabengwa became the first female to be appointed to head of Naspers as CEO, and she speaks about her journey and achievements. Mahanyele-Dabengwa recently attracted all the attention in the business sector after making it to the 50 Soweto Icons project initiated by the businessman and founder of Sakhumuzi Restaurant Sakhumuzi Maqubela. The
Game stores set to shut doors in South Africa, more job losses expected
Massmart has announced a major development in its business, saying eight Game stores are set to close their doors in South Africa. The latest move will see about 700 workers losing their jobs and that is the information at BusinessTech Africa’s disposal. Three months ago, the group started with a section 189 retrenchment process with
Ethiopian Airlines leases three Boeing 767-300ERs due to growing cargo demands
Ethiopian Airlines have reached an agreement with Titan Aircraft Investments to lease three converted Boeing 767-300ERs. The state-owned airline carrier signed this agreement with an aim to pursue aggressive growth of its freighter fleet with long-term leases of three converted Boeing 767-300ERs from lessor Titan Aircraft Investments. Flight Global reports that the Addis Ababa-based carrier is expected
Bell Equipment expects global demand in 2022 and looks to increase footprint
Mining and construction equipment handling company, Bell Equipment, aims to grow its manufacturing footprint. The equipment and the materials handling equipment manufacturer plans to grow its manufacturing footprint in both its northern and southern hemisphere markets. Chairperson Gary Bell and chief executive Leon Goosen, for the interim period ended June 30, said the growth plans included an
'All taxes are wealth taxes' – Dr Richard Grant
All taxes are wealth taxes. All taxes imply the transfer of wealth from the individual owner to a government agency. The only difference between taxes is the tax base or event upon which the tax is levied, and the difference between the total burden borne by the taxpayers and the amount of revenue actually received
All taxes are wealth taxes – Wealth Tax & Basic Income Grant
All taxes are wealth taxes. All taxes imply the transfer of wealth from the individual owner to a government agency. The only difference between taxes is the tax base or event upon which the tax is levied, and the difference between the total burden borne by the taxpayers and the amount of revenue actually received
Eskom blames lack of quality maintenance for continued power cuts
As the rolling power cuts continue to hit South African households and businesses, Eskom has apologised and said the quality and standard of maintenance are below par. Speaking on Monday, chief operating officer Jan Oberholzer said this while addressing the media together with acing head of generation Rhulani Mathebula. He said the power utility's maintenance programme
Khanya Mncwabe: A backyard brewer tells her story behind Matawi Mead
Businesswoman Khanya Mncwabe is the brain behind Matawi Mead, a beverage brand that is a hit in the market as it produces from fermented honey. The company came at the height of the Western Cape's 2018 water crisis and the brand or company seeks to conscientise consumers about alternative alcohols to traditional water-intensive ones. While the province's
EXXARO RESOURCES RANKS TOP 10 IN 2022 EY Excellence in Integrated Reporting Awards
Exxaro Resources is pleased to announce its 5th position in this year’s Top 10 of the Ernst & Young (EY) Excellence in Integrated Reporting Awards. The diversifiedminerals and renewable energy solutions company was recognised as the only mining resources company in the top five and continues to deliver solid returns through its integrated reporting and Environmental, Social and Governance (ESG) performance. Ernst & Young is
Mobile telecoms giant MTN SA makes two major and strategic appointments
MTN South Africa has announced two major appointments as part of reviewing its executive structure, as the company gears up to deliver on its Ambition 2025 strategy. The mobile telecoms operator aims to transform from a telco to techno and released a statement announcing the new appointments. MTN SA said in line with this strategic shift, the
Patrice Motsepe’s African Rainbow Energy seals R4 billion solar deal
African Rainbow Energy and independent power producer SOLA have reached a financial close on 200MW solar PV projects, worth R4 billion, for Tronox Mineral Sands. The company, owned by Patrice Motsepe announced the closing of the transaction on Monday calling it the largest corporate renewable energy power purchase agreement in Africa. The deal comes less than six
Dr. Reda Helal appointed as a Group Managing Director at Network International
Network International, the leading enabler of digital commerce across the Middle East and Africa (MEA), has announced the internal appointment of Dr. Reda Helal as Group Managing Director, Processing Business – Africa and co-head Group Processing. In his new role, Reda will be responsible for leading and growing a client-focused business unit serving financial institutions,
MultiChoice company launches tech that tackles piracy and password sharing
Wholly-owned MultiChoice subsidiary Irdeto has announced that it extended the capabilities of its digital rights management system to tackle piracy and password sharing. Irdeto is a security company that develops software and services for the gaming and video entertainment industries. It has been a MultiChoice subsidiary since 1997. It announced on Sunday that it had