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Cash-strapped arms maker, Denel’s coffers may run dry in September
Another embattled state-owned entity, Denel, has told parliament its coffers are set to run dry as early as the end of this month, September. This comes to the attention of BusinessTech Africa following an update in the joint meeting of Parliament’s Portfolio Committee on Public Enterprises and Parliament’s Select Committee on Public Enterprises and Communications
Microsoft announces Kunle Awosika as the new MD of its Africa Transformation Office
Microsoft has announced the appointment of Kunle Awosika as the new Managing Director of its Africa Transformation Office. Microsoft has announced that they have appointed Kunle Awosika as their new Managing Director for the Africa Transformation Office. I am passionate about the incredible potential Africa has to become a truly connected continent that exports digital
Watch| A phone that speaks 50 languages: "Open" is designed for people who cannot read or write
The Ivory Coast has shocked global tech markets with its new invention of the "Open" phone which is a breakthrough for those who are less tech-savvy. The phone has been designed by Beninese Alain Capo Chichi and is manufactured in Ivory Coast. “For parents, it’s very important. When you ask them their phone number, they can’t
Transnet receive a boost after reaching an agreement with China Railway Rolling Stock
Transnet Freight Rail has received a massive boost as the company forced China Railway Rolling Stock Loco to release critical spare parts and components. This follows a legal suit that the state-owned company took in the past few weeks and it is now reported that the 10-year-long maintenance backlog of rolling stock by Transnet Freight Rail
Recent study reveals more businesses are dumping Eskom, and opting for private energy
The latest research conducted by Sakeliga revealed that more and more businesses are dumping the state-owned power generator, Eskom, for alternative power sources. A daily publication says the study shows that businesses are fast becoming less dependent on the power supplier, as many pointed fingers at the rolling blackouts. Executive director of research and strategy at Sakeliga,
SA economist: “Resumption of wool exports to China comes at an opportune time”
Chief economist at Agricultural Business Chamber Wandile Sihlobo says the resumption of wool exports comes at an opportune time considering the wool season which has just started. Sihlobo argues that the resumption and suspension of the import ban by China will benefit the South African economy. China recently announced a four-month ban on wool coming from the
Cell C ropes in Lerato Pule as new CFO, replacing outgoing Zafar Mahomed
South African mobile telecommunications operator, Cell C, has also rung changes in its staff with the appointment of a new Chief Financial Officer, Lerato Pule. Pule joins the company as she succeeds Zafar Mahomed and her appointment will come into effect on Thursday, September 1. Cell C released a brief statement according to a report by ITWeb,
The business sector welcomes high-profile arrests of former Transnet executives
Business Unity of South Africa has welcomed the arrests made by the National Prosecuting Authority involving former Transnet executives. Ex-group chief executive of Transnet, Brian Molefe, former group chief financial officer Anoj Singh, Regiments Capital directors Niven Pillay and Litha Nyhonhya all appeared in the Palm Ridge Specialised Crimes Court on Monday after their arrest by
Grindrod Shipping set to become the latest company to leave the JSE
Grindrod Shipping could be the next company to leave the Johannesburg Stock Exchange, if media reports are anything to go by. The company is said to have attracted the interest of Taylor Marine Investments who are looking to buy Grindrod Shipping’s shares. Fin24 reports that the Guernsey-based shipping company has tabled a bid for Grindrod, the proposed
A Beefmaster Group lauds Botswana for swift action to curb foot and mouth disease
The South African red meat and livestock sector has praised their Botswana counterparts for acting swiftly with an aim to curb the spread of foot and mouse disease. Following the outbreak of the FMD in South Africa, Botswana’s director of veterinary services, Dr. Kefentse Motshegwa, told farmers and the farming sector of the decision to impose
Luxurious Blue Train finally back on the rails after derailment and fire
One of the world’s most luxurious trains is set to head back to the rails and that is the latest information surrounding the South African Blue Train. The train is expected to return to full service with immediate effect and this follows a lengthy derailing on two occasions. BusinessTech Africa has gathered that the train derailed before
Determined farmer Siyabonga Ndlela remains focused despite unexpected floods in KZN
While many businesses were severely affected by the ravaging floods that hit the province of KwaZulu-Natal earlier this year, Siyabonga Ndlela remains defiant as he focuses on his dreams. The young farmer is still determined to change the agricultural sector when he formed Ndlela Agri Group as a committed cabbage farmer. Ndlela reflects on the effects of
Engen petroleum on sale again, attracting foreign investors from as far as Malaysia – reports
Media reports indicate that the South African petroleum company, Engen, is on sale and it has attracted overseas companies. According to reports, a Malaysian state-owned energy company, Petroleum Nasional, has revived a sale of Engen. Independent Media reveals that Petronas is working with advisers to solicit bids for its controlling stake in the fuel retail business, which
Embattled tobacco maker Gold Leaf to ready to fight back as SARS freezes its assets
It seems there is a war brewing between Gold Leaf Tobacco Corporation and the South African Revenue Service following the preservation order ruling by a court. The Noth Gauteng High Court ruled that the Zimbabwean cigarette manufacturer be slapped with a preservation order last week. In the latest media reports, it is indicated that GLTC has cried
Purpose Centricity in the Fifth Industrial Revolution
As organisations continue to drive their digitalisation agenda, we find ourselves on the cusp of the Fifth Industrial Revolution (5IR) which is characterised as new connectivity and purpose between human, machines, and technology. This revolution focuses on the personalisation of every human engagement on every front. The fourth industrial revolution (4IR) and 5IR will work
Exxaro underscores commitment to corporate responsibility with top ranking in FTSE Russell ESG Ratings for 1H2022
Black empowered, diversified mining and renewable energy solutions company, Exxaro Resources is pleased to announce to its stakeholders that it has once again set the benchmark for its industry in environmental, social and governance (ESG) performance according to the FTSE Russell ESG Index Ratings for the 6-month period to 30 June 2022. The company received
FNB wins Best Consumer Digital Bank in SA and Best Banking App in Africa
29 August 2022 – FNB has once again displayed its digital innovation leadership by winning two awards: Best Consumer Digital Bank in South Africa and Best Mobile Banking App in Africa. This was announced at the 2022 World's Best Consumer Digital Bank Awards in Africa, hosted by Global Finance. It won the awards based on the strength
Under pressure TotalEnergies to sell 49% stake to a Russian company, Novatek
French energy company, TotalEnergies, says it has reached an agreement with its Russian partner, Novatek, to sell its 49% stake. The deal was announced on Friday as the two companies will exchange ownership of the shares in the Termokarstovoye gas field on economic terms enabling TotalEnergies to recover the outstanding amounts invested in the field. TotalEnergies said it
Mxit founder Herman Heunis loses battle to pancreatic cancer
The digital community is reeling in pain and shock following the sad news of the passing of Mxit founder, Herman Heunis, this week. BusinessTech Africa has gathered that the Namibian-born Mxit founder passed away on Wednesday following a lengthy battle with pancreatic cancer. Heunis was diagnosed two years ago and he was a software specialist who went
North Gauteng High Court slaps Gold Leaf Tobacco with a preservation order
Zimbabwean cigarette company, Gold Leaf Tobacco Corporation has been slapped with a preservation order by the South African Revenue Service (SARS). SARS applied at the North Gauteng High Court arguing that the controversial cigarette manufacturer and its directors get a slap. It is said that the order will prevent the Zimbabwean-owned company from dissipating realisable