Ukheshe acquires EFT Corporation for African financial services growth vision

Financial technology company Ukheshe International has acquired 100% of EFT Corporation (EFTCorp) in what Ukheshe describes as a milestone in both companies’ commitment to innovation and growth.... 

More choices for consumers in pre-owned vehicle market

South African motorists are currently enjoying a variety of pre-owned vehicles, with price being a significant driver of the pre-owned car market, says motor retailer Kelston Motor Group used... 

Steps being taken to improve turnaround at DCT Pier 2 ahead of the citrus season

The Durban Container Terminal (DCT) Pier 2 is prioritising fluid terminal operations ahead of South Africa’s citrus season, and the terminal is providing a rail link solution for its customers’... 

Global economic growth in 2024 to be muted

The global economy is expected to remain weak in 2024, but inflation is likely to gradually decrease, and rate cuts may be on the cards in the second half of the year economic forecasting and... 

More economic optimism, but CEOs concerned half of businesses may be unviable in a decade

While the proportion of CEOs who are optimistic about global growth prospects increased from 18% to 38% in assurance, advisory and tax services company PwC's twenty-seventh 'Annual Global CEO... 

Global AI Governance Alliance calls for inclusive access to AI data, resources and education

The World Economic Forum (WEF) Artificial Intelligence Governance Alliance (AIGA) is calling on experts from various sectors to address several key areas of AI, including improving data quality and... 

NRF appoints Gugu Moche as digital transformation group executive

Research organisation National Research Foundation (NRF) has appointed Dr Gugu Moche as digital transformation group executive. She will also continue to act as the Research, Innovation and Impact... 

AfriSam expects to start mining new Ulco limestone quarry later this year

Aggregates and construction materials company AfriSam will soon start mining at a new limestone deposit near its Ulco cement plant, in the Northern Cape. The relocated quarry will be capable of... 

PPC reorganises exec committee to drive improved profitability, return on capital

JSE-listed cement and construction materials company PPC has approved a substantially reorganised and strengthened executive committee to drive improved profitability and a sustainable return on... 

Poverty, rising prices bigger concerns than climate change for South Africans

The main concern South Africans face is poverty, highlighted by 68.4% of respondents to office and printing systems multinational Epson Climate Barometer survey, while rising goods and services... 

African Guarantee Fund, Vista Group to boost SME financing in West Africa

Specialised guarantee provider African Guarantee Fund (AGF) and financial services firm Vista Group have signed a partnership agreement to accelerate access to finance for small and medium-sized... 

Potential modest global FDI increase in 2024, but geopolitical, debt and global fracturing are risks

The United Nations Conference on Trade and Development's (Unctad's) 'Global Investment Trends Monitor' shows that global foreign direct investment (FDI) flows increased marginally by 3% in 2023 to... 

Uptick in December economic activity, but better 2024 unlikely – BankservAfrica

Payments infrastructure and services company BankservAfrica's Economic Transactions Index (BETI) improved to 133 in December, owing to less loadshedding and fuel price cuts during the month. On a... 

Convergence to acquire Datacentrix from Alviva

Private equity investment management company Convergence Partners, through its Convergence Partners Digital Infrastructure Fund (CPDIF), has entered into a definitive agreement with information and... 

RFA urges investigation into outdated TFR systems following derailment

Industry organisation the Road Freight Association (RFA) says the collision of two coal trains on the Richards Bay ore line at the weekend underscores the vulnerability of the multi-ore line owing... 

Sapia appoints Seelan Naidoo as new chairperson

Petroleum industry organisation the South Petroleum Industry Association (Sapia) has appointed Seelan Naidoo to succeed outgoing chairperson Hloniphizwe Mtolo as chairperson. Naidoo, who will serve... 

African trade growth expected to be driven by technology, trade pacts in 2024 – study

The Trade in Transition study, commissioned by freight and logistics company DP World, shows that Africa’s business leaders anticipate growth this year, driven by investment in technology to... 

BCG appoints Thomas Kingombe as South Africa manufacturing, supply chain lead

Management strategy consultancy Boston Consulting Group (BCG) has appointed BCG MD and partner Thomas Kingombe as its South Africa Manufacturing and Supply Chain operations lead. He joins the South... 

TymeBank reaches profitability within first five years

Financial services firm TymeBank reached its first month of profitability in December 2023, less than five years since launching in February 2019. “We are proud of our achievement, particularly... 

SOLshop offers discounts for 'social commerce' group purchases

Online retail platform SOLshop has integrated social interaction into its shopping experience by allowing its users to buy groceries at discounted prices by inviting friends to join in group... 

Critical infrastructure failure the biggest business risk in South Africa this year

Critical infrastructure blackouts have emerged as the number one risk for businesses in South Africa for the second consecutive year, highlighting the severe impact of power outages and the failure... 

Recovery efforts under way following derailment of two trains near Richards Bay

State-owned Transnet Freight Rail (TFR) is busy with recovery efforts after a derailment in which two trains collided in the early hours of January 14 at Elubana, outside Richards Bay, in... 

Joburg Chamber of Commerce and Industry opens export, import manager training programme

The Johannesburg Chamber of Commerce and Industry (JCCI) has opened applications for its virtual export and import management training programme, which has been specifically designed to develop... 

TUHF announces expansion strategy for affordable housing in South, Southern Africa

Commercial property financing company TUHF has announced an ambitious expansion strategy aimed at addressing the evolving demands for affordable housing across South Africa, as it marks its 20-year... 

Alexforbes appoints Mpho Molopyane as chief economist

JSE-listed financial services company Alexforbes Investments has appointed Mpho Molopyane as chief economist, with effect from December 1, 2023. She will be responsible for formulating the... 

Generative AI set for scaling up in 2024, but few are embracing it

Artificial intelligence (AI), and generative AI (GenAI), is one of the top three topics being discussed among executives worldwide and across sectors, and GenAI is set to be scaled up during the... 

95% of companies have an AI strategy, only 14% ready to integrate it – Cisco

Advancements in artificial intelligence (AI), especially generative AI (GenAI), are leading to a once-in-a-generation shift, which is opening new opportunities and transforming industries, modes of... 

Jan Fourie to take over as Mulilo Energy CEO from May

Renewable energy developer Mulilo Energy has appointed former Scatec executive VP Jan Fourie to succeed outgoing CEO Johnny Cullum when he steps down in May. Cullum has served as CEO since Mulilo... 

South African companies vulnerable to cyberthreats owing to affordability challenges

South Africa experienced 230-million cybersecurity threats in 2022, while the second most attacked African country Morocco experienced 71-million attacks. South Africa is particularly vulnerable... 

Commission studying Appeal Court judgment for next course of action

The Competition Commission is studying the Competition Appeal Court (CAC) judgment, handed down on January 8, and is consulting its legal team before deciding on the next course of action. The CAC... 

Developing countries unlikely to see higher climate investment amid global growth slowdown

Global growth is projected to slow for the third year in a row, reaching 2.4% in 2024 from 2.6% in 2023, significantly below the 2010s average and the slowest half-decade of gross domestic product... 

New Gold achieves top-end of production guidance

Canada-focused gold miner New Gold said that strong fourth-quarter results led to it achieving the top-end of its consolidated 2023 production guidance. In the fourth quarter, consolidated... 

Si6 to acquire Brazil REE licences

ASX-listed critical metals and minerals explorer Si6 Metals expects to complete the acquisition of a 50% interest in a portfolio of exploration licences in Brazil from exploration firm Foxfire... 

South Africa to add further solar PV in 2024 – Scatec

Renewable energy company Scatec says solar photovoltaic (PV) capacity will grow significantly in South Africa this year and will continue to replace fossil-fuel-based traditional energy sources, as... 

Policy uncertainty lower in fourth quarter, but remains highly elevated – NWU

The North-West University (NWU) Business School Policy Uncertainty Index (PUI) for the fourth quarter of 2023 showed a welcome easing to 65.5 from its 71.8 in third quarter. However, the presence... 

Affirma, Norfund and KLP provide $145m for CEC to build additional capacity

Private equity firm Affirma Capital, development finance institution Norfund and Norwegian pension fund Kommunal Landspensjonskasse (KLP) have invested $145-million in Zambian independent power... 

UK’s BII to spend R125m on Cape wind farms

UK development finance institution British International Investment (BII) will invest R125-million in two 140 MW wind farms in the Northern Cape and Eastern Cape to help tackle South Africa’s... 

Gautrain celebrates midibus feeder service successes

Urban commuter rail service Gautrain has opened additional midibus routes from its stations in Centurion and Hatfield in partnership with the minibus taxi operators. The Gautrain Midibus Feeder and... 

PPC rehabilitates boreholes for Madibeng villages

Construction materials company PPC has rehabilitated nine boreholes in Madibeng, in the North West, and handed them over to the Madibeng municipality. This project forms part of the cement maker’s... 

Sibanye supports ICMM Water Stewardship Maturity Framework

Diversified mining company Sibanye-Stillwater has welcomed and expressed its support for global leadership body the ICMM’s Water Stewardship Maturity Framework, which is a practical tool for all...