Author: Gugu Lourie

In a strategic move to expand its investment portfolio, Mineworkers Investment Company (MIC) has acquired a stake in Chill Beverages, the renowned owner of the premium mixer brand Fitch & Leedes. The acquisition marks a significant step for MIC as it ventures further into the beverage industry, highlighting its commitment to diversifying its holdings and supporting innovative South African businesses. The partnership is poised to enhance Chill Beverages’ market presence and drive future growth, leveraging MIC’s robust investment capabilities and industry expertise. MIC and Admaius Capital Partners, together the (Alterra Consortium), acquired a majority stake in Chill Beverages (Chill) from…

As the digital landscape in South Africa evolves, online scams have become increasingly sophisticated, posing significant risks to individuals and businesses alike. Here are ten prevalent scams to watch out for in 2024: Deepfake Impersonation Scams: Scammers use AI to create realistic fake videos or audio clips, often impersonating CEOs or family members to trick victims into transferring money. Investment Scams: Fraudulent investment schemes promise high returns. Always verify the legitimacy of the investment platform. Charity Scams: Fake charities solicit donations, especially during crises. Verify charities through reputable databases. Coronavirus Scams: Scammers exploit COVID-19 fears with fake testing kits, vaccines,…

RelyEZ, a Bloomberg’s Tier 1 provider of innovative energy storage solutions, and Veers Group – a South African renewable energy group, today announced the formation of a strategic joint venture to address South Africa’s pressing energy challenges. This collaboration represents a significant step forward in the quest for sustainable energy solutions and underlines the commitment of both companies to driving positive change in the region. The joint venture, officially incorporated as RelyEZ South Africa and led by Hashveer Singh CA(SA) with Operations Director Muneeb Gambeno and Finance Director Majdi Galvaan, will focus on leveraging the combined expertise, resources and technologies…

French media group Canal+ now owns 45.2% of MultiChoice, Africa’s biggest pay TV operator. Canal+ has acquired in on/off market transactions, a further 7,374,918 MultiChoice Shares, as follows: On Wednesday, 8 May 2024, Canal+ acquired 4,709,759 MultiChoice Shares in on/off market transactions for an average consideration of ZAR 119,66 per MultiChoice Share On Thursday, 9 May 2024, Canal+ acquired 387,354 MultiChoice Shares in on/off market transactions for an average consideration of ZAR 119,44 per MultiChoice Share On Friday, 10 May 2024, Canal+ acquired 2,277,805 MultiChoice Shares in on/off market transactions for an average consideration of ZAR 119,68 per MultiChoice Share…

Transitioning to renewable energy is more than just a means to avoid the disruptive effects of power outages for Volkswagen Group Africa (VWGA), but rather a conscious step towards reducing the environmental impact of fossil fuels. Recognising the effect of fossil fuels on global climate change, VWGA is striving to minimise its dependence on these energy sources. As the nation celebrates Energy Month in May, VWGA highlights its commitment to become carbon neutral in vehicle and component production by 2030 through its Zero Impact Factory initiatives. To this end, significant investments totalling up to R100 million have been made in…

Agri Business Network and FutureFarm today announced the launch of AgRetail on the FutureFarm platform. The AgRetail mission is to lower the cost of inputs for South African farmers. Using the FutureFarm web and mobile app, AgRetail farmer members enjoy the revolutionary convenience and transparency of comparing prices and buying commodity inputs at the push of a button. A range of Diesel, Crop Protection and Fertilizer inputs are available from launch. AgRetail is FREE and easy to join and a limited number of memberships are available during the startup phase of the venture. Gerhard Kriel, CEO of Agri Business Network…

Vodacom Group on Monday disclosed a 10.8% decline in full-year earnings, citing setbacks from Ethiopia start-up losses, increased finance and energy expenses, and inflationary forces. The company, majority-owned by Britain’s Vodafone Group, said headline earnings per share (HEPS) dropped to R8.46 in the year ended 31 March, versus R9.48 a year earlier. In 2022, Vodacom co-launched Safaricom Ethiopia in partnership with a consortium, banking on the potential growth of the populous nation. Vodacom holds a direct 5.7% stake in the venture. “A combination of start-up losses in Ethiopia, higher finance and energy costs, the impact of absorbing inflationary pressures, and…

Design is a dynamic discipline. Take, for instance, the humble automobile. Today’s vehicles look exceedingly different to those of years gone by, having evolved in dimensions, proportions, ergonomics and indeed overall styling. The global automotive market’s inevitable shift towards electric vehicles (EVs) has accelerated this usually fairly gradual change, since dedicated flat-floor platforms (as opposed to underpinnings created to accommodate internal combustion engines) have afforded designers far greater freedom. It’s a similar case inside, though perhaps for other reasons. Yes, the modern car’s uncluttered dashboard is a far cry from the button-festooned facias of vehicles from just a few short…

In a time where dedication to groundbreaking technological advancements that tackle local issues is central to the global business scene, it’s crucial to recognise the trailblazers who reshape entire industries. Joanna Govender, a South African executive serving as CEO of EPF Tech Fund and Empire Partner Foundation, has been recognised with a 2024 Global Recognition Award for her significant achievements in merging technology with social impact through her leadership at EPF and EPF Tech Fund. Global Recognition Awards is an international organisation that recognises exceptional companies and individuals who have significantly contributed to their industry. Their awards are highly regarded and sought…

South Africa’s sophisticated banking system has allowed consumers to opt into multiple payment methods, all suited to their lifestyles and personal choices. The Mastercard 2022 survey found that 95% of South African consumers used ‘at least one digital payment method, while the National Treasury announced that it was promoting cashless payment methods for low-value payments with tap and go cards. Woolworths announced it was going cashless in its WCcafé’s and FNB said cashless payments in 2023 accounted for 50% of its card payments. The ability to tap and go makes life easier and more convenient, but Richard Frost, Product Head…