Author: Staff Writer
Former Steinhoff CEO Markus Jooste is dead. Just a day after the Financial Sector Conduct Authority (FSCA) slapped him with a hefty R475 million administrative fine, the former CEO of Steinhoff was found dead. The 63-year-old disgraced businessman was said to have shot himself on Human Rights Day, Thursday (21 March 2024). The SABC reported that the unexpected tragedy occurred at night. The FSCA had earlier indicated the Special Investigative Unit was probing Jooste. The businessman was accused of misrepresenting Steinhoff’s financial statements published between 2014 and 2017. On Wednesday the FSCA said: “Jooste and Dirk Schreiber made or published…
Mail & Guardian has reported today that Nosiviwe Mapisa-Nqakula, the speaker of the National Assembly, is anticipated to face charges of corruption and money laundering exceeding R4 million following her imminent arrest, scheduled for Friday. According to Mail & Guardian, multiple senior investigators and a government official have disclosed that during her nine-year tenure as the defence and military veterans minister, Mapisa-Nqakula purportedly sought and received “gratification” from a businessman. Sources intimately connected to the investigation revealed that plans for the speaker’s apprehension were set into motion approximately three weeks ago, coinciding with her participation in the 2024 Women Speakers’…
Comsol, a provider of Fixed Wireless Access (FWA) last mile connectivity and Private Networks in South Africa, has launched a 5G FWA network to meet the need for business-class broadband for SMEs, and a cost-effective, reliable redundancy option for enterprises. Iain Stevenson, Chief Executive Officer at Comsol, says its new 5G FWA offering complements Comsol’s existing FWA portfolio of broadband products. “Our wholesale partners and market trends indicated that there was a significant gap in the market for a low cost reliable, business-class broadband. Building on nearly 30 years of experience focusing exclusively on business connectivity, we have spent the…
The Hawks, representing the NPA’s Investigative Directorate, conducted an early morning raid on parliamentary speaker Nosiviwe Mapisa-Nqakula’s Johannesburg home on Tuesday, according to a report in Business Day. Allegations suggest she received and solicited over R2.3m from a former military contractor during her time as defence minister. Mapisa-Nqakula was reportedly present during the raid at her residence on Adolph Goertz Street, Bruma. The operation concluded around 11 am with the seizure of certain items. The speaker had returned from official visits to Paris and New York last week. The allegations were first published by the Sunday Times regarding the purported…
The latest PWC insight shows that a large number of CEOs have embraced the efficiencies that generative AI can bring to their business, with 51% of respondents saying they had already integrated AI into business operations. However, software development specialist, Global Kinetic, has warned that IT leaders should still exercise some caution, especially as global regulators move towards consensus. The latest 27th PWC Annual Global CEO survey shows that 70% of the 4702 respondents expect generative AI (genAI) to significantly change the way their company creates value over the next three years. However, their enthusiasm was tempered in the longer…
Sectional title sales now comprise more than half of all property sales in South Africa, with price growth for this type of asset exceeding that of freehold properties for the first time in two decades. This is according to Renier Kriek, Managing Director of Sentinel Homes. “Sectional titles made up 54% of total property sales in Q4 2023 – up from 44% in 2013. As sectional title ownership continues to gain in popularity, it may be lucrative for purchasers and investors who buy now and gain from the anticipated long-term trend,” he says. However, knowing the ins-and-outs of sectional title…
The debut of the Audi Q6 e-tron heralds a significant milestone as the inaugural production model built on the Premium Platform Electric (PPE), signaling Audi’s progression towards delivering premium electric mobility. Noteworthy for its exceptional driving dynamics, rapid charging capabilities, heightened efficiency, and extensive range, the Q6 e-tron represents a leap forward in Audi’s electric vehicle offerings. Embodying the distinctive styling of Audi’s SUV lineage fused with a refined e-tron design language, the Q6 e-tron exemplifies the brand’s commitment to innovative aesthetics. Inside, a new design ethos and cutting-edge technologies introduced in this model pave the way for the next…
Sungrow, a renowned global provider of PV inverters and energy storage systems, has introduced its newest advancement: the three-phase hybrid inverter tailored to meet the distinct energy requirements of South African customers. The unveiling took place at the prestigious Houghton Hotel, The Venue, highlighting this pioneering technology that provides tailored energy solutions for both residential and commercial sectors across the nation. “South Africa has long grappled with electricity challenges, from load shedding to infrastructure limitations,” remarked Ezzat Sankari, Channels Business Director for Sungrow Middle East and Africa at Sungrow. “With our latest three-phase hybrid inverter, we seize the opportunity to…
The Johannesburg Stock Exchange (JSE), Africa’s largest stock exchange continues on its technology enablement journey and is collaborating with Amazon Web Services (AWS) to modernise its technology, leverage edge computing infrastructure, explore AI to deliver innovative market solutions and drive operational efficiencies. This move will also revolutionise the delivery of real-time market data in the cloud and drive industry innovation leveraging artificial intelligence (AI), machine learning (ML), generative AI and blockchain technologies. The transformative journey will focus on market infrastructure and the enablement of evolutionary trading enablement technologies for seamless connectivity with clients. The JSE will start by embarking on…
Cell C today announced the appointment of Chris Lazarus as the Chief Officer: Sales, Distribution, & Regions, reporting directly to Jorge Mendes, CEO of Cell C. With over 30 years of experience in the financial services and telecommunications industries, Chris brings a wealth of expertise and leadership to his new role. Chris’s distinguished career demonstrates his success in various leadership positions, including his most recent role as the Chief Enterprise Officer at Safaricom Ethiopia, where he played a pivotal role in establishing the telecoms business. The successful launch of the network in 2022 served a market of 120 million people,…