Author: Gugu Lourie

Eskom has reduced load shedding from stage four to stage two, following the successful restoration of several power generation units. According to the power utility, this improvement comes after all five units at Majuba, two units at Camden, and one unit at Medupi were brought back online. Over the weekend, eight out of ten generation units tripped, initially prompting Eskom to implement stage three load shedding before escalating it to stage six. Eskom stated on X: Eskom is currently #loadshedding in #Stage2 Eskom customers may obtain their loadshedding schedules from https://t.co/UzMtttaJ4q Municipal customers should contact the local municipality for schedules…

Lenovo announced its third-quarter results for fiscal year 2024/25, reporting significant increases in overall group revenue and profit. The company’s revenue grew 20% year-on-year to $18.8 billion, marking the third consecutive quarter of double-digit growth. The group’s diversified growth engines continue to accelerate, with non-PC revenue mix up more than four points year-on-year to 46%. The quarter’s results were driven by the group’s focused hybrid-AI strategy, the turnaround of the Infrastructure Solutions Group, as well as double-digit growth for both the Intelligent Devices Group and Solutions and Services Group. Locally in South Africa, Lenovo holds the no.1 market share in…

Prosus has reached a conditional agreement to acquire Just Eat Takeaway.com for €4.1 billion in cash, aiming to create a leading European food delivery company. The offer of €20.30 per share represents a 49% premium over the three-month volume-weighted average price. This acquisition is expected to position the combined entity as the fourth-largest food delivery group globally. “We are excited for Just Eat Takeaway.com to join the Prosus Group and the opportunity to create a European tech champion,” said Fabricio Bloisi, Prosus’s CEO. “Prosus already has an extensive food delivery portfolio outside of Europe and a proven track record of…

JSE-listed technology group Altron anticipates a significant rise in headline earnings, forecasting an increase of up to 40%. The company attributes this growth to its customer-centric approach, disciplined strategy execution, and profit enhancement initiatives. Altron announced today that it is in the process of finalising its financial results for the year ending 28 February 2025. The group expects headline earnings per share (HEPS) from continuing operations to be at least 40% (a minimum of 41 cents) higher than the 103 cents reported for the twelve months ending 29 February 2024. HEPS is South Africa’s primary profit indicator. Altron stated that…

South Africa’s Decentralised Finance (DeFi) market is still in its early stages but is steadily expanding, according to a recent study published by the Financial Sector Conduct Authority (FSCA). The FSCA’s DeFi Market Study aims to enhance the Authority’s understanding of DeFi-related activities in the country, providing valuable insights into the opportunities and risks associated with this emerging financial technology. DeFi applications operate on blockchain technology and utilise smart contracts: self-executing pieces of code that define the rules of a given DeFi product. These applications enable users to engage in traditional financial activities such as borrowing, lending, and trading assets…

In a major step toward bridging the justice gap, the Empire Partner Foundation (EPF) has developed a cutting-edge digital case management solution for ProBono.Org. This innovation is set to revolutionise how legal assistance is delivered, making justice more accessible to those who need it most. The newly developed platform streamlines ProBono.Org’s operations, enhancing case management, improving client tracking, and enabling real-time oversight of legal assistance. By digitising case handling, the system empowers ProBono.Org to expand its reach, tackling systemic barriers and providing critical legal support to underserved communities. Joanna Govender, CEO of EPF, emphasises the impact of this technological advancement:…

JSE-listed technology firm Blue Label Telecoms has once again raised questions about its financial dealings with struggling mobile operator Cell C, as its latest financial results reveal continued transactions involving its subsidiaries, Comm Equipment Company (CEC) and The Prepaid Company (TPC). These transactions involve substantial airtime purchases, prompting scrutiny over whether Cell C is being financed in an unconventional manner. Strange airtime purchases to ‘fund’ Cell C In its latest financial report, Blue Label disclosed that TPC now holds either a 53.57% or 63.19% stake in Cell C. The ambiguity around this ownership raises a fundamental question: Is Cell C…

JSE-listed Blue Label Telecoms has increased its stake in Cell C to 53.57% through its subsidiary, The Prepaid Company (TPC), raising fresh questions about whether the struggling mobile operator is now a subsidiary or remains an associate company. On January 24, 2025, Blue Label announced that ICASA had approved the transfer of Cell C’s spectrum and network licenses, clearing the way for the company to assume more control. TPC acquired an additional 4.04% of Cell C shares from Cedar Cellular Investment 1 (SPV1). However, despite the increased shareholding, Blue Label maintains it does not have de facto control of Cell…

In a significant move toward enhancing transparency and accountability in law enforcement, South African Police Minister Senzo Mchunu has announced plans to deploy body-worn cameras for police officers. The revelation came in a written Parliamentary response to Democratic Alliance (DA) Member of Parliament (MP) Billy Mzamo, with the rollout set to begin in April 2025. However, concerns have been raised about the slow pace and limited scale of the initiative. According to Minister Mchunu, the South African Police Service (SAPS) will commence the procurement of 100 body-worn cameras this year, at an estimated cost of R28,818 per unit. This translates…

The automotive industry has started the year off positively, with strong sales in both the new and used car segments. January is typically one of the better-performing months in terms of sales, and this is reflected in steady used car sales and increasing new vehicle sales, reflecting strengthening confidence amongst South African consumers.  Data from South Africa’s most trusted motoring marketplace, AutoTrader, shows strong used car sales, even against January 2024’s exceptional performance. In January 2025, 30,961 used cars were sold—a +17.2% increase from December 2024’s 26,424. Year-on-year, sales dipped slightly by just -0.1% from the 30,996 vehicles sold in…