Author: Gugu Lourie
The Special Tribunal has ruled that the allocation of a R113 million personal protective equipment (PPE) contract to LNG Scientific was both invalid and unlawful. This Centurion-based company secured the tender from the Gauteng department of health during the peak of the Covid-19 pandemic in 2020. In a default judgment handed down on 7 February 2024, the Tribunal ordered that LNG be divested of all profits enjoyed under the invalid contract. LNG is owned by Letloega Thabiso Lekoana. LNG was ordered to submit audited statements within 30 days setting out its income and expenses in relation to the PPE items…
The Department of Health has hit back at a misleading voice note making the rounds on social media platforms claiming that people who vaccinated against COVID-19 are dying due to the vaccine. The voice note, which is also circulating on WhatsApp, promotes the use of an unregistered over-the-counter product called Nature’s Choice Activated Charcoal as a solution to “prevent” such deaths. As per the department, there have been no deaths reported that are causally linked to COVID-19 vaccines, except for the three cases that the department had reported early last year. Members of the public are being urged to ignore any…
In a concerning trend, Eskom, South Africa’s primary electricity provider, has observed a troubling increase in the construction of homes and other structures within power line servitudes. This unwelcome development not only violates Eskom regulations but also raises significant safety concerns. With structures encroaching upon these vital corridors, the risk of accidents and disruptions to power supply looms large. Eskom urgently appeals to the public to refrain from such activities in the interest of safety and reliable electricity provision. The land below and adjacent to a power line is called a servitude. This servitude belongs to the relevant landowner in…
Sibanye-Stillwater has undertaken the transformation of its Brakpan Precious Metal Refinery (PMR) into a dynamic training hub tailored specifically for the youth of Ekurhuleni. This initiative marks a pivotal step in harnessing the region’s potential by offering invaluable skills and opportunities to its young population. With this visionary endeavor, Sibanye-Stillwater not only redefines the purpose of its infrastructure but also paves the way for a brighter future for the youth in the Ekurhuleni area. The training hub has been launched in partnership with Forge Academy & Labs, an education organisation focused on training students for occupations that rely on next-generation…
Telkom revealed today that it is approaching the culmination of negotiations for the Swiftnet sale to a preferred undisclosed bidder, marking a significant stride towards finalising the transaction. Last November, Telkom revealed its plan to sell its masts and towers business, Swiftnet. The giant telco said it has entered an exclusivity period with a preferred bidder, a consortium led by a reputable private equity firm with black economic empowerment backing. Telkom today informed shareholders that substantial progress has been made on meeting the remaining agreed milestones under the exclusivity arrangement, including that the parties have significantly progressed their negotiations to…
After enduring persistent rain showers, progress on Westown Square has surged ahead, marking a significant milestone in the construction of the New City of the West. As the skies clear, the initial phase of this ambitious development project is swiftly materializing, promising to redefine the landscape and vitality of the region. Westown Square, a retail center valued at R1.4 billion, is currently under construction within the Westown Precinct. This precinct constitutes a pivotal segment of the expansive R30 billion Shongweni Urban Development project. The 50 000m² high-street retail experience, Westown Square brings together shopping, dining, living and recreation for all…
OpenAI has introduced Sora, an innovative generative AI model poised to revolutionise the realm of multimedia content creation. Sora stands as a pioneering tool designed to seamlessly transform text into captivating video content, presenting a paradigm shift in the way we conceive, produce, and interact with media. With its unveiling, Sora not only showcases the remarkable advancements in artificial intelligence technology but also heralds a new era of creative possibilities and storytelling potential. This unveiling marks a significant milestone in the ongoing pursuit of harnessing AI to augment human creativity and reshape the landscape of digital media production. “We’re teaching…
Anglo American Platinum, BMW Group South Africa and Sasol together launched the first trial of a pilot fleet of BMW iX5 Hydrogen fuel cell electric vehicles in South Africa. On the signing of the collaboration agreement in October 2023 at the South African Green Hydrogen Summit, the companies agreed to a cross-industry alliance to drive forward the green hydrogen economy by actively demonstrating value chains and projects, moving from industrial policy to real world applications. Peter van Binsbergen, CEO of BMW Group South Africa, said at the Hydrogen Council’s Regional Meeting and at the launch of the BMW iX5 Hydrogen…
The South African Broadcasting Corporation (SABC) has issued a critical warning to the public regarding a fraudulent email correspondence. The scam email falsely claims to be from the SABC and threatens recipients with a warrant of arrest for non-payment of TV License fees. The Deceptive Email The email in question originates from an address: [email protected] (purporting to be the “TV License Board”). However, it is not an official SABC email address. The Corporation categorically denies any involvement in such threatening communications. What You Should Do Ignore the Email: If you receive an email from [email protected], disregard its contents. Do not panic or take any action based on the…
The Special Investigating Unit (SIU) has once again brought actress Terry Pheto under scrutiny in the latest National Lotteries Commission (NLC) grant funding scandal. Pheto, known for her acclaimed performances, faces renewed allegations of involvement in the misuse of NLC funds, as the SIU’s investigation sheds light on potential irregularities in grant allocations. The revelation adds another layer of complexity to the ongoing probe into alleged misconduct within the NLC, casting a shadow over Pheto’s reputation and raising questions about accountability in the allocation of public funds. (SIU) has completed 90% of the second phase in its three-phased National Lotteries…
CubeSpace, an innovative satellite component manufacturer, born out of the research corridors of Stellenbosch University, has secured a substantial R47 million in venture capital funding to power its global expansion endeavours. With a solid footing in the cubesat domain, the company is poised to revolutionise the broader satellite industry, capitalising on its extensive expertise and robust research and development capabilities. Bolstered by an impressive 50% annual growth rate over the past four years, CubeSpace is now embarking on a strategic transition supported by recent venture capital infusion spearheaded by the University Technology Fund (UTF) in collaboration with co-investor Savant Venture…
Vumacam, a top surveillance service provider, today announced its partnership with the Gauteng Provincial Government (GPG). This collaboration means that the GPG will benefit from Vumacam’s vast camera network and cutting-edge crime-fighting technologies. Through this partnership, the GPG gains access to over 6000 cameras in Gauteng and additional partner cameras nationwide. With another 5000 partner cameras across South Africa, Vumacam ensures immediate alerts for any known criminal activity involving vehicles, even from other provinces, if spotted by cameras in Gauteng. Moreover, the GPG and Vumacam aim to expand camera coverage to underserved areas, especially in Townships, Informal Settlements, and Hostels…
Sun Exchange, a provider of comprehensive solar power and energy storage solutions in South Africa, is entering a new strategic phase. Building on nine years of expertise and a solid reputation, the company is now shifting its focus entirely to full-service commercial solar power and energy storage project development. Under the leadership of newly appointed CEO Saul Wainwright, Sun Exchange will fund all its projects through a growing global network of trusted corporate and institutional funders. This strategic shift will enable the company to continue serving its core sectors, including schools, retirement homes, non-profit organisations, and agriculture, while also expanding…
Everything.Insure, South Africa’s InsurTech platform, has just launched its commercial insurance marketplace online. This platform stands as a pioneer in the digital brokerage and insurance marketplace landscape, transforming the way insurance shopping operates. Gone are the days when securing commercial insurance involved a convoluted, drawn-out process, demanding weeks or even months of paperwork from businesses just to receive a single quote. With Everything.Insure, businesses can now access multiple quotes within minutes, marking a significant shift towards streamlining the entire insurance procurement process. This digital platform caters to three primary types of commercial businesses, ensuring a personalised and efficient experience for…
Car sales are a key indicator of the health of the SA economy providing a snapshot of consumer spending and confidence. 2023 was a year fraught with economic uncertainty, power outages and logistical issues like port delays that particularly impacted the new car market. While the used car market continued to show signs of positive results, the scenario was not quite as rosy for the new car market. The number of passenger used cars sold rose by +4.6% year-on-year in 2023, according to AutoTrader used car sales data. Over the year, 367,075 used cars were sold bringing the total value…
The Financial Sector Conduct Authority (FSCA) has issued a stern warning to the public regarding a concerning trend of individuals impersonating Centaur Asset Management Ltd, a reputable financial services provider. These imposters have been operating through a WhatsApp number (+27 67 209 8867), falsely representing themselves as representatives of Centaur, which holds FSP number 647, and engaging in fraudulent financial activities. The FSCA has received reports indicating that individuals purporting to be Mr. Lungelo Ngwane and Mr. Thembinkosi Dlomo, allegedly affiliated with Centaur Asset Management Ltd, have been soliciting deposits from unsuspecting individuals under false pretenses. Centaur has confirmed that…
The Financial Sector Conduct Authority (FSCA) has issued a stern caution to the public regarding a fraudulent scam proliferating on social media platforms, particularly TikTok and Facebook. Individuals posing as representatives of International Capital Markets (Pty) Ltd (IC Markets) are luring unsuspecting victims into their scheme. Recently, the FSCA received distressing reports from a member of the public who fell victim to this deceitful operation on TikTok. The perpetrators promised substantial returns on investments and persuaded the victim to deposit additional funds to supposedly unlock higher returns. Similarly, another victim encountered a fraudulent scheme on Facebook where an individual purported…
Major General Mboiki Obed Ngwenya, the Provincial Head of the Hawks, lauds the diligent efforts of the East London based Serious Commercial Crime Investigation (SCCI) team, in collaboration with East London Crime Intelligence (CI), for their pivotal role in capturing a 52-year-old foreign national. The individual faces charges of Road Accident Fund (RAF) fraud and corruption, stemming from an incident dating back to July 2011. The investigation centers around an alleged hit-and-run at the intersection of Voortrekker Road & Emily Hobhouse Road in Cape Town’s Goodwood area, where a minor was struck by an unidentified vehicle that fled the scene.…
MultiChoice, Africa’s biggest pay-TV operator, has successfully reached a landmark settlement with the Federal Inland Revenue Service (FIRS) in Nigeria. The settlement pertains to the contentious tax assessments raised against MultiChoice Nigeria (MCN) in April 2021 and MultiChoice Africa Holdings BV (MAH) in June 2021, totaling a staggering R705 million. The company informed investors on Thursday that MultiChoice, FIRS, MCN, and MAH have concluded a ‘without prejudice or precedent’ agreement. This agreement marks a pivotal moment in resolving all outstanding matters between the involved parties. Under the terms of the settlement, MCN and MAH have agreed to pay a cumulative…
The Walt Disney Company and Epic Games are teaming up to create an entirely fresh gaming and entertainment universe, extending the enchanting world of beloved Disney tales and adventures. Disney is set to make a $1.5 billion investment to acquire a stake in Epic Games as part of this multiyear venture, pending customary closing procedures, including regulatory clearances. This innovative collaboration will not only deliver an exceptional gaming experience but will also integrate seamlessly with Fortnite. The newly envisioned persistent universe promises a plethora of opportunities for audiences to immerse themselves in playing, watching, shopping, and interacting with content, characters,…
In a recent landmark decision, the Supreme Court of Appeal (SCA) resolved a longstanding dispute between Kenneth Makate and Vodacom regarding compensation for the invention of the Please Call Me (PCM) product. The SCA dismissed an appeal from the Gauteng Division of the High Court, Pretoria, setting aside the previous order and substituting it with a new determination of compensation owed to Makate. The dispute originated from a Constitutional Court order in April 2016, which mandated negotiations between Makate and Vodacom to determine reasonable compensation for the PCM invention. In the event of a deadlock, the CEO of Vodacom was…
Mastercard has paid R3.8 billion to buy a minority stake in MTN’s FinTech business valued at $5.2 billion or R100 billion. Initially revealed on August 14, 2023, the transaction remains pending closure, awaiting customary conditions. This collaboration adds depth to the broader commercial ties between MTN and Mastercard. The aim is to foster technological advancements and infrastructural growth, ultimately driving financial inclusivity throughout Africa. Particularly, this strategic alliance seeks to bolster MTN’s fintech arm, enhancing its payment and remittance services. Looking ahead, MTN remains open to exploring further avenues for value-driven partnerships and investments. Market conditions will influence the trajectory…
The U.K government allocates over £100 million to support regulators and advance research and innovation on AI, including Hubs in healthcare and chemical discovery. This is part of the Department for Science, Innovation and Technology (DSIT) response to the AI Regulation White Paper . It comes as £10 million is announced to prepare and upskill regulators to address the risks and harness the opportunities of this defining technology. The fund will help regulators develop cutting-edge research and practical tools to monitor and address risks and opportunities in their sectors, from telecoms and healthcare to finance and education. For example, this might…
Balwin Properties today informed investors that Ulrich Gschnaidtner has stepped down from his position as the Chief Projects Officer to explore new opportunities in Australia. Gschnaidtner will fulfill his duties until August 30, 2024, the company said. Having joined Balwin in 1997 to oversee project operations, Gschnaidtner has played a pivotal role in the company’s growth over the past 27 years, added the company. The board expresses its gratitude to Ulrich for his significant contributions throughout the years and extends best wishes for his future endeavours. Ulrich held management positions at Spie Batignolles and Bovis Southern Africa before joining Balwin…
Amidst mounting challenges facing South Africa’s mining sector, President Cyril Ramaphosa has underscored the pressing issues gripping the industry. Highlighting the domestic energy crisis and logistical bottlenecks plaguing ports and railways, he emphasised the significant strain on miners’ operational expenses. Moreover, the pervasive threats of illicit mining, cable theft, and infrastructure vandalism compound the challenges, exacerbating the strain on mining output and returns. In response to these formidable obstacles, Ramaphosa has rallied a call to action, urging collective effort and determination to navigate through these turbulent times. As the industry braces itself for the road ahead, collaboration emerges as the…