Author: Gugu Lourie

Prosus, a global technology leader, and Despegar, Latin America’s premier online travel agency, have officially announced the completion of Prosus’s acquisition of Despegar. The deal follows approvals from Despegar’s board, shareholders, and regulatory authorities. This acquisition aligns with Prosus’s strategy to deepen its footprint in Latin America, where it is building a digital lifestyle ecosystem serving over 100 million customers across food delivery, classifieds, travel, experiences, and fintech. Fabricio Bloisi, CEO of Prosus Group, stated: “With Despegar joining the Prosus family, we’re accelerating our vision to build the most dynamic lifestyle ecommerce ecosystems across Latin America, India, and Europe. By adding…

Eskom has announced that Stage 2 loadshedding will continue until 22:00 tonight before being suspended, thanks to improved generation capacity. In a statement released today, Eskom confirmed: “Stage 2 loadshedding will continue during today’s evening peak period, from 16:00 to 22:00, as previously communicated. From 22:00, loadshedding will be suspended.” The power utility reported significant progress in restoring generation units, with 1,175MW already returned to service this week and an additional 1,850MW expected before tomorrow’s peak. Improved System Stability Eskom attributed the suspension of loadshedding to: Restored generation capacity (1,175MW this week) Adequate emergency reserves Ongoing unit repairs (1,850MW more expected soon) The…

New research reveals how expanding wheeled renewable energy access could supercharge South Africa’s economy. Investing in wheeled renewable energy access, allowing businesses to buy clean power via the grid, could drive R308 billion in capital investment and create 280,000 new jobs in South Africa, according to a new study. The white paper, Wheeling for Growth: The Socioeconomic Impact of Expanding Renewable Energy Access in South Africa, commissioned by Discovery Green and conducted by Krutham, highlights the massive economic potential of unlocking renewable energy for small and medium businesses (SMMEs) and non-energy-intensive corporates. Key Findings: 16.9GW of additional solar and wind energy capacity needed 3.7GWh of battery…

Eskom has reported severe operational disruptions at its Mpumalanga power stations over the past two weeks due to violent protests sparked by fake job advertisements circulating on social media. Misinformation Fuels Unrest Eskom spokesperson Daphne Mokwena confirmed that false posts claiming job openings at power stations led to crowds submitting CVs and staging protests, some turning violent. “These protests are criminal and hinder our ability to maintain stable electricity generation,” Mokwena told SABC News. Impact on Operations The unrest has forced Eskom to heighten security as demonstrators block access to key facilities. The utility warns that continued disruptions could worsen South…

The Financial Sector Conduct Authority (FSCA) has issued a warning about Mr. Lethabo Molefe, who is illegally soliciting investments from the public. What’s Happening? Molefe promises R9,000 returns from an initial R900 investment through Telegram groups. Funds are deposited into a Capitec Bank account under Mr. Thato Rapelego. Rapelego claims his account was used without his knowledge. Neither Molefe nor Rapelego is authorised to provide financial services. FSCA’s Warning Unrealistic returns are a red flag—always be suspicious. The FSCA is investigating and will involve the South African Police Service (SAPS). How to Protect Yourself Check authorisation – Only use FSCA-approved providers. Verify FSP numbers – Match them on the FSCA database. Avoid social media offers – Be cautious of unsolicited investment…

The South African Police Service (SAPS) has broken its promise to deploy body-worn cameras by April 2025, with zero progress made. Despite assurances from Police Minister Senzo Mchunu, not a single camera has been issued, leaving officers and the public unprotected. Another Broken Promise During a National Council of Provinces (NCOP) session, DA Member Mzamo Billy exposed that SAPS has yet to begin the rollout. Minister Mchunu admitted that the tender process is still in early stages, meaning further delays are inevitable. Why Body Cameras Matter Body-worn cameras are crucial for: Police accountability – Reducing misconduct and false accusations Officer safety –…

The Constitutional Court has yet to deliver judgment in the high-stakes Please Call Me case between Nkosana Makate and Vodacom, a subsidiary of British telecom giant Vodafone. The matter was heard on 21 November 2024, but six months later, the ruling remains pending. Vodacom is appealing a Supreme Court of Appeal (SCA) decision that overturned its initial R47 million compensation offer, rejected by Makate in 2019, and ordered the company to make a new offer. Makate is demanding R9.4 billion for his invention, which Vodacom has profited from since 2000. Vodacom Used Makate’s Invention For Years Without Paying Makate’s lawyer, Stuart Scott, argued in court last November that…

Investec, the JSE- and LSE-listed private banking group, has lodged an application with South Africa’s National Energy Regulator (NERSA) for a licence to trade electricity. If approved, the bank will purchase solar power from the Illikwa Solar PV Facility in the Free State and supply its Sandton headquarters. The application states: “Investec Bank hereby notifies that a licence application has been lodged with NERSA to trade electricity.” The proposed trading would occur via Eskom’s transmission networks under a wheeling arrangement – where electricity is transported through third-party infrastructure. Solar-Powered Banking Operations Investec plans to buy energy from the 2022-registered Illikwa PV Facility…

Microsoft on Tuesday said that it’s laying off 3% of employees across all levels, teams, and geographies, affecting about 6,000 people. “We continue to implement organizational changes necessary to best position the company for success in a dynamic marketplace,” a Microsoft spokesperson said in a statement to CNBC. The company reported better-than-expected results, with $25.8 billion in quarterly net income, and an upbeat forecast in late April. Microsoft had 228,000 employees worldwide at the end of June. On Tuesday, Washington state said the company was reducing headcount tied to its Redmond headquarters by 1,985 people, including 1,510 in-office roles. In…

Eskom has confirmed it will implement Stage 2 loadshedding daily from 16:00 to 22:00 until Thursday, 15 May 2025, citing generation shortages and delayed unit returns. Key Reasons for Loadshedding: 3,120MW delayed from planned maintenance Additional 1,385MW lost due to unplanned breakdowns Current unplanned outages exceed 13,000MW Eskom acknowledged these challenges align with risks highlighted in its Winter 2025 Outlook. The utility is emerging from an intensive maintenance cycle, which has temporarily reduced system flexibility. Leadership Response Group Chief Executive Dan Marokane said: “Our new Operational Excellence Programme is key to restoring performance. We are reinforcing oversight, strengthening accountability, and aligning service providers with stricter performance standards. This forms part of…