Author: Gugu Lourie

There is good news for drivers on Wednesday as the price of petrol and diesel will be dropping. The Minister of Mineral Resources and Energy, Mr Gwede Mantashe, announces the adjustment of fuel prices based on current local and international factors with effect from the 7th of June 2023. South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors. International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, e.g. shipping costs. The main reasons for the fuel…

inq. Group today announced the appointment of seasoned industry leader Glad Dibetso to succeed Nick Reed. Dibetso will become CEO Designate from 1 July 2023 working alongside Reed who will remain on as part of the transition process. The move is part of the Board approved succession plan. inq. recently completed its acquisition of Syrex, a provider of hyperconverged cloud technology solutions, adding South Africa to its footprint across the Continent. Dibetso hopes to continue to bolster inq. to become a truly pan-African business, consolidating its traditional connectivity business and accelerating EdgeDock, inq.’s unique digital service offering. Dibetso said, “I…

In a partnership aimed at making it easier and more cost-effective for customers to watch their favourite local and international blockbuster movies and series, MTN subscribers can now sign-up or switch to Viu Premium for only R69 per month. Along with Viu Premium, subscribers will also receive a 3GB MTN streaming data bundle, valid for 30 days, every 30 days. This allows a customer to watch up to 12 hours of Viu’s premium-rated local and international movies and series each month. Customers need to simply add the subscription to their monthly account, or pay with their airtime, to enjoy their…

Scatec ASA today closed the previously announced transaction to divest the Upington solar plants in South Africa. Scatec, a renewable energy company in emerging markets, is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange The gross consideration for divestment of Scatec’s 42% equity-share in the 258-megawatt (MW) plants is R973 million (NOK 546 million). The company said as previously communicated the proceeds will be recycled into new investments within renewable energy. “We are very pleased to secure a value accretive transaction, in line with our strategy to optimise our portfolio and recycle capital. South Africa remains a…

JSE-listed grocer Spar today announced that the unprecedented power cuts had a direct impact on the trading performance and profitability of its retailers. The retailer said higher power cuts will impact retailers’ profitability due to the additional energy costs associated with the back-up solutions required during the power cuts. “Our retailers have experienced a significant increase in operating costs, primarily driven by the increased cost of diesel required to run generators during the higher levels of loadshedding, coupled with higher repairs and maintenance costs and product wastage, as generators occasionally fail under extended periods of usage,” the company said. Spar…

The FinTech division of JSE-listed retailer Pepkor reported a decline in revenue in the six months to March 31. Pepkor told investors today that its FinTech business reported a 7.8% drop in revenue to R3.7 billion in the first half of the year. The company operates its FinTech division through Flash and Capfin. Pepkor attributed the decline in revenue at its FinTech business to lower revenue recognition at its Flash business. The retailer said revenue from the FinTech segment contributed 9% to total revenue of R40 billion for Pepkor. Pepkor said the Flash business had performed well, increasing profitability by…

Nkwe Platinum hosted a ceremony today to hand over its Social and Labour Plan (SLP) Water Supply Projects to the Sekhukhune District Municipality. The event that marks the completion of Nkwe Platinum Limited’s SLP water supply projects within its mining communities of Garatouw, Maandagshoek, De Kom and Hoepakrantz, which fall under the Makhuduthamaga and the Fetakgomo-Tubatse Local Municipalities. The projects were initiated by Nkwe Platinum Limited to provide access to clean and safe drinking water to communities and livestock surrounding the Zijin Garatau Platinum Mine. A total of 31 boreholes were drilled and/or equipped for the water supply projects across…

Mobile technology has transformed Africa over the past two decades, enabling the continent to leapfrog fixed-lines and join a global digital economy. It has made the internet accessible to nearly everyone, transforming how we live, learn, work, communicate and play. It has become one of the most important economic sectors, catalysing significant job creation and development. For Africa Day 25 May, TCL shares how some facts and numbers about how mobile technology is transforming sub-Saharan Africa.  Mobile penetration is close to 50% Vast distances and underdeveloped infrastructure meant a telephone line was a luxury reserved for the rich in Africa…

The Independent Communications Authority of South Africa (ICASA) has officially opened the lower 6GHz spectrum band for the provision of Wi-Fi services. The spectrum band will benefit wireless internet service providers. The lower 6GHz frequency band refers to the radio frequency range of 5925 – 6425 MHz, as allocated in the National Radio Frequency Plan. “Annexure B of Radio Frequency Spectrum Regulations, 2015, consists of a list of radio apparatus, the use or possession of which does not require a radio frequency spectrum licence,” said ICASA. “The authority has now incorporated the key lower 6 GHz frequency band (from 5…

Eskom has announced that it will implement Stage 4 and 5 load shedding until further notice. This after breakdowns occurred at several of the power utility’s stations overnight. Stage 4 will be implemented between 5am and 4pm while Stage 5 will commence from 4pm to 5am every day. “Over the past 24 hours, a generating unit each at Duvha, Kriel, Majuba, Medupi and Tutuka power stations were returned to service. “In the same period, a generation unit each at Arnot, Camden, and two generating units at Kriel power stations were taken out of service due to breakdowns. Furthermore, the delay…