Author: Gugu Lourie

Eskom has released its outlook for the summer period, from 1 September 2024 to 31 March 2025, following a successful winter with 152 consecutive days without loadshedding. The Generation Operational Recovery Plan, initiated in March 2023, continues to enhance efficiencies and deliver significant improvements in Eskom’s fleet performance. Key Highlights: Loadshedding-Free Winter: The 2024 winter period saw no loadshedding, a significant improvement compared to 153 days in winter 2023. Economic and Financial Boost: Eskom’s improved performance could contribute to an estimated 2% growth in the South African economy and better financial results for Eskom in FY 2025. Reduced Unplanned Outages:…

Banking group Absa announced today that Seacom CEO Alpheus Mangale has been appointed as a member of its Remuneration Committee (Remco). “Shareholders are informed that Mangale has been appointed as a member of the Remuneration Committee, and John Cummins as a member and chairman of the Models Committee (MC),” Absa informed investors the appointments will take effect on 1 September 2024. Also read: Alpheus Mangale, A Seasoned Business Leader, Named CEO Of Seacom Seacom, Africa’s telecommunications and managed services provider, today announced that Alpheus Mangale, is joining SEACOM as incoming Group Chief Executive Officer, effective 1 April 2023.  He is…

Aiko Energy and Veers Group have formed a joint venture to accelerate South Africa’s renewable energy transformation. This partnership aims to transform the country’s solar sector by combining Aiko’s cutting-edge N-Type ABC solar modules with Veers Group’s local expertise. The venture, named Aiko Energy SA, is committed to local content, black economic empowerment, and sustainable growth. Under the leadership of Muneeb Gambeno as Managing Director and Majdi Galvaan as CFO, the company will focus on making high-efficiency solar technology accessible across utility-scale, commercial, industrial, and residential sectors, while prioritizing the upliftment of local communities. “Our organisation has always prioritised innovation…

The Public Investment Corporation (PIC) has announced its intent to block the re-election of a MultiChoice board member due to concerns over questionable consultancy fees, Business Times reported today. The PIC, the largest asset manager in Africa with a 15% stake in MultiChoice, is the company’s second-biggest investor after French entertainment giant Canal+. The PIC has criticized the continued payment of millions in advisory fees to Jim Volkwyn, one of MultiChoice’s longest-serving board members. MultiChoice informed TechFinancials this week that the controversial consultancy agreement with Jim Volkwyn, who is up for re-election at the company’s AGM on Wednesday, will expire…

“Modernisation and digitisation are crucial developments that will drive the future growth of Southern Africa’s railway industry.” This is the key message Guoyu Wang, Vice President of Huawei’s Smart Transportation Business, imparted to delegates attending the Southern African Railways Association’s (SARA) 13th annual conference and exhibition at the Sandton Convention Centre in Johannesburg. At the opening of the conference, SARA Executive Director Babe Botana, set the agenda for the day; “Together, we will explore strategies to elevate rail transportation as a driver of sustainable economic growth on the continent.” This event brings together transportation ministers from across the Southern African…

Angry FNB customers took to the social media platform X on Friday to express their frustration over the banking mobile app being down and inaccessible. “We are aware that there are issues being experienced across our channels. Our IT teams are working on restoring full functionality to the affected services,” FNB posted on X. “We apologise to our valued customers for the inconvenience caused.” Some customers even argued that FNB is slowly becoming Capitec Bank, very unreliable! FNB is slowly becoming Capitec Bank, very unreliable! pic.twitter.com/xZz2NiutqM — Harry Mabusela 🇿🇦 (@Harry_shuf) August 23, 2024 . @FNBSA , Why can’t I access…

MultiChoice announced today that it will not discontinue the controversial consultancy fees paid to certain board members. Earlier this year, Business Times reported that newly appointed board chair Elias Masilela had indicated that these special consultancy fees would be reviewed and likely scrapped. These arrangements involved three board members, including former chair Imtiaz Patel, receiving consultancy fees for professional advisory services. The board justified these payments by arguing that the cost was lower than hiring external consultants. However, the consultancy agreement with board member Kgomotso Moroka, which earned her R1.5 million, was terminated last year following shareholder concerns. Another board…

Eskom Distribution has officially launched its Electric Vehicle (EV) charging infrastructure, marking a significant step toward a sustainable and innovative future. The power utility made the announcement on its X page on Wednesday. “By setting our standard for eMobility in South Africa, we are not just reducing our carbon footprint but paving the way forward,” remarked Gabriel Kgabo, the General Manager in the Office of the Group Executive, who led the launch. Eskom is positioning itself as a key player in supporting the development of the electric mobility (eMobility) sector in South Africa. This launch will integrate Eskom into the…

The DA today opened a criminal case with the Hawks to investigate alleged tender fraud of R831 100 in the Mamusa Local Municipality. “Documents in our possession indicate that the Chief Financial Officer (CFO), Mr Vincent Masilo, who also serves as the Acting Municipal Manager, allegedly facilitated the purchase of 16 Mecer Xpress Executive MW10Q17+ tablets for R590 000. A single tablet retails between R3 000 and R4 000, but CFO Masilo allegedly paid R36 875 per device, inflated by 920%,” said CJ Steyl, DA North West Provincial Spokesperson: Cooperative Governance, Human Settlements and Traditional Affairs. See documents here. In…

Empire Partner Foundation (EPF) firmly believes in the power of homegrown innovation. The foundation is deeply committed to nurturing local talent and has collaborated with visionary technology partners and startups across South Africa. EPF’s mission has always been to elevate the local tech community by providing the resources and platforms necessary for their success. “We’re excited to unveil a new initiative that reflects this commitment—a carefully curated Directory of South African Innovation,” EPF said in its Linkedln page. “This isn’t just a list; it’s a showcase of trusted local tech companies that have been rigorously vetted for their quality and…