Author: Gugu Lourie
Gumtree’s recent independence and increased agility have enabled the company to introduce exciting innovations and new features. One upcoming development is the launch of “Pay & Ship” on Gumtree SA, which will enhance the platform with an e-commerce experience, ensuring secure purchasing and reliable delivery. “We are constantly looking at how we can make the website and app better, with major updates and changes planned for 2024,” says Marcus Badach, Chief of Staff at Gumtree South Africa. “Gumtree’s User Verification, powered by mobile payments app Spot, is able to verify the identity of buyers and sellers and their contact information,…
The Paardevlei Centre, brought to life by the Shoprite Group, represents more than just a commercial hub. It tells a compelling story of transformation, honouring its storied past while embracing a vibrant future. This centre stands as a testament to how an industrial landscape can evolve into a bustling community space, where history and modernity coexist, creating a place where the echoes of history blend with the everyday rhythms of life. A Historical Legacy Located in Somerset West, the Paardevlei Centre is nestled within the Paardevlei Lifestyle Estate, an area with a rich historical legacy. Once the site of crucial…
South African retail giant TFG is making waves with its e-commerce platform, Bash, which is currently firing on all cylinders. As the digital marketplace continues to evolve, TFG’s robust online presence through Bash is setting new standards in the retail industry for the the retailer. With seamless user experience, a wide range of products, and innovative features, Bash is driving significant growth and customer satisfaction for TFG, positioning the company at the forefront of the e-commerce sector in South Africa. Bash was launched in February 2023 by TFG. For more read: TFG’s New Bash App Tops Download Charts After Official…
The Tyme Group boasts a combined customer base of 12.4 million in South Africa and the Philippines, comprising 9.2 million TymeBank customers and 3.2 million GoTymeBank customers. The group consistently onboards around 450,000 new customers monthly, with 250,000 joining GoTymeBank in the Philippines,and 200,000 opting for TymeBank in South Africa. Tyme’s annualised gross revenue run rate stands at $175 million, with an annualised net operating income tracking at $110 million. The combined deposit base amounts to $600 million, complemented by a $165 million lending portfolio. TymeBank anticipates achieving sustained profitability by June 2024, having broken even in December 2023, which…
MultiChoice Group on Thursday issued a warning about escalating full-year losses, citing an increasingly challenging trading environment. The company in a trading statement highlighted the intensifying difficulties it faces as it navigates these tough economic conditions. Although the group’s full year 2024 financial performance has been negatively impacted by an adverse and volatile economic environment, management has responded with tactical interventions by focusing on cost optimisation and cash management, including reduced decoder subsidies, which continued to yield positive economic outcomes, the company said. MultiChoice announced that trading profit is expected to decline by 19% to 23% compared to the 2023…
MultiChoice Chief Executive Officer Calvo Mawela and Chief Financial Officer Tim Jacobs will be entitled to receive a cash retention bonus upon the successful implementation of the Canal+ mandatory offer to buy Africa’s largest pay-TV operator. In the Combined Circular published by Canal+ and MultiChoice, it was disclosed that there are no material provisions of an abnormal nature in respect of directors’ service contracts which require disclosure. Furthermore, there are no service contracts in respect of MultiChoice directors that have been concluded or amended during the six-month period prior to the date of the Joint Announcement. “In order to support…
Today, FinTech group Capital Appreciation announced strong business performance despite weak business confidence, continuing to attract new customers and grow market share in a lacklustre economy by evolving its revenue mix with new products and services across more sectors and regions, thereby creating significant future growth opportunities. The group grew gross revenues by 19% to R1.2 billion and EBITDA by 53% to R252.8 million. The financial results benefited from improved operational performance, higher finance income, a significantly reduced expected credit loss raised for GovChat and the first-time contribution of the Dariel Group (acquired July 2023). EPS and HEPS increased by…
The best-selling BMW 1 Series has undergone an extensive mid-life refresh, with significant visual and mechanical updates. These changes are so substantial that BMW is calling it the fourth-generation 1 Series. Featuring a dynamic design, a completely revised drive portfolio, and extensively enhanced chassis technology, the new BMW 1 Series stands out as the sportiest vehicle in its class. Highly efficient engines equipped with 48-volt mild hybrid technology, alongside a resource-conserving production process that prioritises material recycling, optimise sustainability throughout the entire product life cycle. Its progressive nature is further showcased by a redesigned interior, an expanded range of automated…
The independent board of JSE-listed MultiChoice has advised shareholders to consider accepting a takeover bid from Canal+, a French media conglomerate. Despite this endorsement, both entities face substantial regulatory obstacles before the deal can be finalised. Canal+ and MultiChoice issued today a Combined Circular to MultiChoice Shareholders regarding the mandatory offer by Canal+ to acquire the MultiChoice shares it does not own for a consideration of R125.00 per share. The board, in a collaborative statement, has deemed the offer price of R125 per share as equitable and advisable, urging shareholders to accept it once the conditions are met. However, the…
Luxury car manufacturer JLR is today announcing significant progress in upskilling its workforce for electrification. More than 20,000 JLR colleagues and partners have been trained in electrification and digital skills as part of JLR’s Future Skills Programme. The UK’s largest luxury car manufacturer has trained: More than 2,400 manufacturing employees in its UK production facilities with EV skills More than 95 per cent, or 10,000, of JLR’s retail partner technicians, ensuring workshops are prepared to service JLR’s next generation luxury electric vehicles Nearly 3,000 engineers trained in electrification Around 2,500 in data and digital And more than 4,200 JLR and…