Author: Gugu Lourie

President Cyril Ramaphosa has announced an ambitious plan to secure R100 billion in infrastructure financing by engaging local and international financial institutions and investors. Speaking during his annual State of the Nation Address (SONA), Ramaphosa emphasised that large-scale infrastructure investment is key to accelerating economic growth and job creation. “To create this virtuous cycle of investment, growth, and jobs, we must lift economic growth to above three percent,” he said. To achieve this, the government is prioritising massive infrastructure investments while maintaining and upgrading existing assets. A project preparation bid window has been launched to fast-track investment readiness, supported by…

Bolt is launching Trusted Contacts in South Africa, a feature that will enable passengers and drivers to add names and phone numbers of friends or relatives to a list of contacts for their account, so that Bolt’s Safety Team can get in touch with them if the account holder can’t be reached. This is part of Bolt’s ongoing investment in upgrades to safety features on its platform and will ensure quicker escalation of Ride Check notifications, Emergency Assist requests or any other significant safety incident reported if the Safety Team can’t get a hold of the account holder. This is the…

JSE-listed paper and packaging giant Sappi is making bold strides in the bioeconomy, with plans to become one of the world’s leading producers of furfural: a key biochemical used in industries ranging from biofuels to pharmaceuticals. Following the successful piloting of its proprietary furfural manufacturing process at Saiccor Mill in Umkomaas, KwaZulu-Natal, Sappi is now advancing towards full-scale commercial production. The company confirmed in its latest Sustainability Report that the pilot plant has validated and optimised its furfural technology, demonstrating the ability to extract high-quality furfural from hemicellulose sugars in spent sulphite cooking liquor. “The pilot plant successfully demonstrated that…

South African motorists will have to dig deeper into their pockets as fuel prices are set to rise significantly from 5 February 2025. The Minister of Mineral and Petroleum Resources has announced the latest adjustments, citing a combination of international and local economic factors driving the increase. Why are fuel prices going up? South Africa’s fuel prices are reviewed monthly, influenced by global crude oil prices, international petroleum product costs, and the exchange rate between the Rand and the US Dollar. This month’s surge is attributed to: Rising crude oil prices Brent Crude oil prices climbed from $72.78 to $77.41…

Sipho Maseko and Sonja De Bruyn have joined a Broad-Based Black Economic Empowerment (BBBEE) consortium that will play a crucial role in facilitating Canal+’s acquisition of MultiChoice Group. As part of the transaction, MultiChoice South Africa’s broadcasting licence operations will be restructured into a new independent entity, MultiChoice (Pty) Ltd (LicenceCo). This move ensures regulatory compliance while paving the way for Canal+ to expand its video entertainment footprint across Africa. Creation of LicenceCo As part of this restructuring: LicenceCo will operate as an independent entity, holding the South African subscription broadcasting licence and contracting directly with MultiChoice’s South African subscribers.…

In the heart of Mpumalanga, a region historically known for its coal mining, a groundbreaking project is set to redefine the future of sustainable energy and food security in South Africa. Suiso, a homegrown company specialising in blue ammonia production, has announced a monumental $1.7 billion (R31.5 billion) investment in a state-of-the-art coal-to-fertiliser facility in Kriel. Founded in 2019 by four visionary South African entrepreneurs, Suiso is on a mission to drive sustainable energy solutions, enhance food security, and promote responsible resource management. The project, which has garnered significant attention for its scale and ambition, is backed by prominent businesswoman…

Vodacom now processes over $1.2 billion (R22.7 billion) in daily transaction value through its mobile wallet offerings. The JSE-listed telecommunications group disclosed this figure on Monday for the quarter ended 31 December 2023, highlighting the scale of its business and solidifying its position as Africa’s largest mobile money platform by transaction value processed. Excluding Safaricom, Vodacom Group generated R3.6 billion in service revenue during the quarter, up 5.7%—or 17.2% on a normalised basis Across Its geographic segments, Vodafone Egypt remains a star performer having grown service revenue at 44.3% in local currency, well above the rate of inflation. South Africa…

Meridiam has acquired a majority stake in Ilitha, a telecommunications company founded by Vuyani Jarana, with a mission to deliver affordable, unlimited internet to underserved areas in South Africa. The investment, made through the Meridiam TURF B Fund, will accelerate Ilitha’s fibre rollout, targeting over half a million households in township communities. “Access to the internet has become a basic human right, yet many people living in townships and rural communities do not have access to affordable quality broadband services,” said Vuyani Jarana, CEO and Founder of Ilitha. “Ilitha is not just about bringing internet to these communities, it’s about…

XLink Communications, a subsidiary of Vodacom and part of the Vodafone Group, is redefining Africa’s payments ecosystem with a suite of cutting-edge solutions designed to enhance the customer payment experience. Established in 2004, XLink has evolved from a connectivity provider into a purpose-driven PayTech leader, championing financial inclusion across the continent. Operating in South Africa, Zambia, Kenya, and Ghana, the company is now at the forefront of payment innovation under the visionary leadership of CEO Dr. Thanusha Govender. Since assuming the role in 2022, Dr. Govender has led a strategic transformation, repositioning XLink as a multifaceted payment technology powerhouse. The…

Cape Town Mayor Geordin Hill-Lewis has announced the City’s new Main Arterial and CBD Cleansing Plan, which will enhance visible cleaning along major routes and the CBD. The City Council has approved over R26 million in start-up funding as part of its January Adjustment Budget. Additionally, the City is allocating an extra R100 million to address potholes and resurface roads. The new plan aims to ensure cleaner major routes while creating employment opportunities through the Expanded Public Works Programme (EPWP). Dedicated teams will perform top-up cleaning services along main arterial routes and within the CBD. Mayor Hill-Lewis stated, “Our new Main…