Author: Gugu Lourie
Flexible office space company WeWork, once valued at $47 billion, has filed for Chapter 11 bankruptcy protection in the United States. WeWork, humorously dubbed WeDidn’tWork by some, assured that its franchisees worldwide remain unaffected by these proceedings. The bankruptcy filing specifically pertains to WeWork’s locations in the U.S. and Canada. In an official statement, the New York-based company outlined its strategic plan, emphasizing a deliberate approach aimed at maximizing value. WeWork intends to reject leases for specific non-operational locations, with advanced notice provided to all affected members. This move is part of their effort to position the company for operational…
Trade, Industry and Competition Minister Ebrahim Patel has used his address at the 2023 Africa Growth and Opportunity Act (AGOA) Forum to galvanise the message of a united Africa that is earnestly at work to reclaim its place in the world. The 20th AGOA Forum is currently taking place at the Nasrec Expo Centre in Johannesburg, Gauteng, the heart of commerce and trade in South Africa. The forum brings together a large contingent of African Trade Ministers and their delegations, and over 300 delegates from the United States business sector, including the US Chamber of Commerce. Delegates from Business Unity…
In a groundbreaking move toward a greener future, Volvo Cars has unveiled its latest venture, Volvo Cars Energy Solutions. This innovative initiative seeks to harness the untapped potential of electric cars and their batteries beyond mere transportation. While electric vehicles (EVs) are already hailed as crucial steps towards a more sustainable society by eliminating tailpipe emissions, Volvo Cars believes they can do much more. Did you know that stationary electric cars can power homes, appliances, and even contribute surplus energy back to the grid? Volvo Cars Energy Solutions aims to capitalise on this potential, creating a bridge between EVs, customers’…
Hewlett Packard Enterprise (HPE) has announced the immediate appointment of President Ntuli as the managing director for South Africa. In this role, Ntuli takes on comprehensive oversight of HPE’s business, personnel, and operations in the country. Having previously served as the director of HPE GreenLake Cloud Services in the UK, Ireland, Middle East, and Africa region, Ntuli brings valuable experience to his new position. Based at HPE’s Johannesburg office, he leads a team of over 150 members spread across Johannesburg, Cape Town, and Durban. “I’m excited to take up the challenge of leading Hewlett Packard Enterprise South Africa into the…
Today, Linkedin introduced a new AI-powered Linkedin Premium experience bringing a higher level of personaliSation to each interaction. The company said the tailored experience encompasses everything from gaining deeper insights into crucial topics to receiving personalized career action suggestions. Helping Premium subscribers unlock new opportunities and increase productivity: Linkedin said: “Our new AI-powered experience will analyze your feed’s posts (from the commentary to the article to the conversation) and reveal the key salient opportunities for you…in one simple click… in seconds. It will take on the hard work of parsing through long articles, videos and posts and give you ideas…
SA Government plans to implement tax and expenditure measures to support the automotive sector to transition to a low carbon economy. Delivering the Medium Term Budget Policy Statement in Parliament on Wednesday, Minister of Finance Enoch Godongwana said details will be provided in the 2024 Budget Review. “Part of the broader strategy includes collaborating with other African countries to develop battery production capacity on the continent, by pooling the critical-mineral resource base that Africa is endowed with,” the Minister said. He explained that the transition to a low carbon economy should be integrated into a comprehensive green growth strategy and…
Moving banking services closer to where clients conduct their work and business operations will significantly transform the future of banking says Investec, who is actively expanding its banking integrations and Application Programming Interface (API) capabilities through Investec Developer, to achieve this goal. Investec Developer leverages the power of Investec’s digital and technology capabilities to provide private and business clients with a new level of banking access and control. Focused on API banking integration, programmable card accounts and co-creating innovative solutions with the programmable banking developer community. Investec is the only bank in South Africa to have opened its APIs to…
Paratus Group, a pan-African telecom and network services provider, reveals strategic initiatives to achieve its goal of doubling revenue within the next five years. Providing LEO, MEO and GEO services across the continent Completion, in Q4 of 2023, of the new Paratus teleport in South Africa Construction of its second teleport in Luanda, Angola to create a Paratus connectivity hub for the region is due for completion in October 2023. The building of a fifth Data Center (DC) in Angola will be the largest in that country. Construction will be complete by Q2 of 2024. The last leg of the…
Woolworths today announced today its intention to buy 93.45% of the shares in privately-owned pet retailer Absolute Pets from Sanlam Private Equity and Absolute Pets management (the Transaction). The remaining management-retained shareholding will be acquired by Woolworths over an agreed period, post the completion of the Transaction. Absolute Pets was established in 2005 and has become one of South Africa’s leading specialist pet care retailer, with over 150 stores nationwide. Woolworths said pet care is an attractive and rapidly-developing market, with substantial growth potential. “It is also an increasingly important category for Woolworths customers, who consider their pets an integral…
South Africans across the country are gripped by the green and gold fever ahead of the 2023 Rugby World Cup final on Saturday, which will pit South Africa’s Springboks against the All Blacks from New Zealand. If the semi-final is anything to go by, the final game promises to be a nail-biting encounter that will keep every fan on the edge of their seat as the teams go head-to-head at 9pm sharp. From schools, companies, and restaurants to social media posts, the Springbok jersey-wearing South Africans are counting down the hours to what will go down in history as one…