Author: Staff Writer
The Johannesburg Stock Exchange (JSE) on Thursday welcomed the Satrix SA Bond ETF to the main board of the JSE in its first virtual listing and the first ETF listing in 2020. The Exchange Traded Fund (ETF) will track the S&P South Africa Sovereign Bond 1+ year Index, which allows investors to automatically reinvest their coupons. The index is market value-weighted and consists of bonds with maturities of one year or more. Valdene Reddy, Director of Capital Markets at the JSE, said the ETF was perfectly suited for investors needing a more defensive asset class while chasing inflation-beating yields and…
COVID-19 has arrived the world over, with a torchlight in hand to cast a light on the shadows that lurk in our society. It’s opening our bottom drawers, and airing the dirty laundry of decades of consumer-driven markets. The world is unequal. The systems we’ve created work only for a few. Suddenly in the absence of our daily hustle, it’s become glaringly evident in many industries. The justice system is one of them. “The COVID-19 outbreak has made an already uncertain future that much more frightening. In times like these, we need to call upon our artists, our writers, our…
FNB and WesBank have approved payment breaks on more than 500 000 credit agreements for nearly 150 000 individual and business customers since 1 April 2020. The relief includes payment breaks and/or credit insurance assistance in excess of R4.3 billion to help customers whose finances have been affected by COVID-19. “Our approach is to offer qualifying customers a payment break by paying installments on their behalf for a period of three months. As a result, we have structured our assistance at prime interest rates to alleviate the financial burden and give customers the flexibility to repay the facility over flexible terms,” FNB…
As South Africa’s economy slowly starts regaining traction during level 4 of the lockdown, MTN has started reopening its network of 410 stores nationwide, subject to strict measures being put in place to enhance the safety of customers and staff. Around eighty percent of MTN’s stores began trading on May 1, with all stores across the network open for trading yesterday. Limited trading hours, a strictly controlled shift system, 2 metre social distancing barrier markings, and regular health-checks are among the key proactive measures MTN has put in place. “Our focus is on continuing to give customers all the support…
Teraco on Wednesday formally confirmed the construction of Teraco Cape Town 2 (CT2), a new 30MW data centre facility. This follows the company’s recent 60MW expansion announcement of its Johannesburg data centre campus in Isando and makes the Cape Town facility the second-largest on the continent. Jan Hnizdo, CEO, Teraco, says that the company is standing by its 2019 commitment to support the South African Government’s investment drive and with this build will be investing billions of rands in South Africa’s digital infrastructure:. “We are truly proud that we can keep investing in the region and make good on our…
De Beers Marine SA has stepped in to help the nation’s battle against COVID-19 by 3D printing parts of the Personal Protective Equipment (PPE) needed for frontline health workers. The initiative was driven by Mechanical Engineer, Gustav van der Merwe and the Research and Development team, who saw an opportunity to assist health workers in the Western Cape, especially those at Tygerberg Hospital which treats the highest number of COVID-19 patients, but also has a shortage of face shields. Western Cape Province currently has been deemed as a hotspot with one of the highest caseloads of confirmed COVID-19 patients in…
The South African Revenue Service (SARS) has urged taxpayers to remain compliant and make use of its online services as the country battles an ailing economy compounded by the COVID-19 pandemic. “If there was ever a time where delivering on our mandate matters, it is now. During this time, it remains extremely important for all taxpayers to remain compliant,” said SARS Commissioner Edward Kieswetter. This, Kieswetter said, means taxpayers must register when they are legally required to; submit tax and customs declarations, returns, and relevant submissions when it is required and make the necessary payments when they become due unless…
As the country has lifted the lid on some of the economic activity and people are starting to move around, South Africa must brace itself for the increase of COVID-19 infections. This was the key message delivered by President Cyril Ramaphosa during a visit to KwaZulu-Natal on Tuesday to assess the province’s COVID-19 response. The President was engaging with the provincial government and stakeholders on the province’s response strategies and progress being made to flatten the curve of the Coronavirus pandemic. He said Level 5 lockdown had done a great deal to put the brakes on the wave of infections…
To assist the local and provincial governments in providing much-needed care to COVID-19 patients in Nelson Mandela Bay, Volkswagen Group South Africa (VWSA) has made its Port Elizabeth plant available as a temporary medical facility. The plant in Neave (Korsten, Port Elizabeth), which is currently not in use, will be converted and used as an overflow medical facility. Once fully operational, the facility could accommodate up to 4 000 beds for patients diagnosed with the COVID-19 virus. This would also include high-acuity patients who require oxygenation. The planned conversion of the 66 000m² building is the result of a collaboration…
South Africa’s National Department of Health (NDoH) has launched a COVID-19 digital self-assessment tool called HealthCheck. The tool will allow for early detection, mapping and management of COVID-19 cases using USSD and the official COVID-19 WhatsApp Service (COVID-19 CONNECT). The tool comes at a crucial moment in the South African government’s COVID-19 response – when certain aspects of the country’s lockdown are being relaxed and more responsibility is being placed on individuals to ensure their own health when engaging in outdoor activity and other areas of public life. Members of the public will be able to use HealthCheck to self-assess…
The financial well-being of a whopping 65% of vehicle-buying consumers in South Africa has been negatively impacted by the nationwide lockdown. Many (30% to be precise) are under pressure to replace their vehicle within the next four weeks. This is compelling evidence in favour of allowing all vehicle dealerships – both independent and franchised – to trade under Level Four of lockdown restrictions. This is according to George Mienie, CEO of AutoTrader, who points out that, as consumers lose their jobs and/or receive salary cuts, they are demonstrating an urgent need to free up cash or reduce monthly household costs.…
In light of the COVID-19 epidemic, Volkswagen South Africa has made the decision to extend new vehicle warranties. “As the passenger-car market leader in South Africa, we want to release some of the burden that COVID-19 has placed on Volkswagen customers. As a result of this pandemic, Volkswagen dealerships were closed during the 5-week lockdown meaning that for many of our customers, it was impossible to make claims under their warranties in good time, that is why we are offering this free-of-charge benefit to our customers,” says Mike Glendinning, Sales and Marketing Director for Volkswagen Group South Africa. In the…
Mountain climbers scaling Everest from the Chinese side can now enjoy 5G connectivity. China Mobile and Huawei have literally taken 5G connectivity to new heights by bringing the network to the summit of Mount Everest upon the completion of the world’s highest 5G base station at an altitude of 6500 meters. On the occasion of the 60th anniversary of the first successful arrival at Mount Everest from the northern slope, and the 45th anniversary of China’s first official accurate measurement and announcement of Mount Everest, the 5G network on Mount Everest will provide communication services for this 2020 Mount Everest…
Last week JOOX announced the launch of the ‘#Gig2Earn’ initiative to support local musicians currently experiencing financial hardship through an inability to perform live. ‘#Gig2Earn’ invites them to stream directly to their fans via the JOOX live video streaming feature – and get paid to do so. JOOX now presents the ‘Big Live’ music-streaming concert series, as part of the same initiative, bringing big names in the music game to the JOOX app in aid of up-and-coming artists by creating awareness of the ‘#Gig2Earn’ initiative. The first ‘Big Live’ concert will feature none other than Cassper Nyovest, this Friday 8th…
Open-access fibre-connectivity provider DFA has become the first telecommunications provider in 10 years to be granted an operating licence by the Postal and Telecommunication Regulatory Authority of Zimbabwe (POTRAZ). The awarding of the Internet Access Provider Class B licence follows a successful launch and proof of concept phase for DFA’s Zimbabwe operations. The licence paves the way for fully-fledged operations in the country and will allow DFA to build a nationwide network for the provision of licensed telecommunications services. DFA Group CEO, Thinus Mulder, said he was pleased with DFA Zimbabwe’s progress. “From the beginning, we have favoured a measured…
Netflix today announced the introduction of a Made in Africa collection – a curated list of African series, films and documentaries – to celebrate Africa Month and demonstrate its commitment to Africa and its creative community. The collection is available globally at netflix.com/madeinafrica (or can be found on Netflix by searching ‘Made in Africa’ or ‘Africa Month’ or ‘Africa Day’) and will make it easier for members who love African stories to find something great to watch. It includes over 100 titles – including older licensed films and shows as well as Netflix Originals like Queen Sono, which debuted on…
An earlier decision by the government to allow the sale of cigarettes during the COVID-19 lockdown was rescinded after the National Coronavirus Command Council (NCCC) consulted medical experts and various role-players. President Cyril Ramaphosa said this on Monday after sections of society implied that Cooperative Governance and Traditional Affairs Minister Nkosazana Dlamini-Zuma had arbitrarily gazetted the ban. Previously President Ramaphosa had announced that the sale of tobacco products would be allowed when the country moved to Level 4 of the nationwide lockdown. Level 4 of the lockdown, aimed at curbing the spread of the virus, began on Friday, 1 May.…
The South African Post Office (SAPO) has commenced the process of rolling out cashless ATMs that will serve as additional payment points for the payment of the South African Social Security Agency (SASSA) grants. On Monday, the Post Office unveiled the first cashless ATM to pay SASSA social grants within the premises of Kagiso Trading, GG Location, in Rustenburg. The launch marks the start of SAPO’s roll-out of more than 10 000 of these cashless ATM devises within spaza shops, township and rural areas’ merchants to avail financial services close to where people live. In addition to accessing social grants,…
The total number of confirmed COVI-19 cases in South Africa is now 6,336. The total number of tests conducted to date is 230 686, of which 13 164 were done in the last 24 hours. This is the highest number of tests done in a 24-hour cycle to date Today regrettably, we are saddened to report a further 7 COVID-19 related deaths from the Western Cape and Free State. This brings the total number of deaths to 123. “We convey our condolences to the families and friends of the deceased,” said Dr Zweli Mkhize, Health Minister. “Wearing a fabric face…
South Africa’s tobacco makers have given Co-operative Governance Minister Nkosazana Dlamini-Zuma an ultimatum to amend the regulations that prohibit the sale of tobacco products by Monday or face legal action. Last week, President Cyril Ramaphosa announced that the sale of cigarettes would be allowed under Level 4 regulations, however, on Wednesday Dlamini-Zuma announced that the ban will remain in place. British American Tobacco South Africa (BATSA) said in a statement it was “seeking urgent clarity on the decision-making process that led to the government imposing an indefinite ban on the legal sale of tobacco products.” “The minister cited 2 000…
In support of the local and provincial government’s efforts to curb the spread of COVID-19 in Nelson Mandela Bay, Volkswagen Group South Africa (VWSA) has donated 150 beds to the isolation facility at the Nelson Mandela Bay Stadium. The Nelson Mandela Bay municipality recently announced that the stadium would be used to isolate low-acuity patients who have been infected with COVID-19, to prevent them from spreading the virus further. The facility will be managed by the Department of Health, with support from the Municipality. VWSA was approached by the Department of Health to assist in equipping the facility to house…
All road-based public transport services will from 1 May 2020 be permitted to operate from 5am until 7pm, with a grace period of one hour in the afternoon to complete their trips and drop off passengers. This includes minibus-taxis, buses, metered taxis, e-hailing services, charter and shuttle services. This as the country on Friday began its first day of Alert Level 4 of the Risk-Adjusted Strategy to combat the COVID-19 pandemic. Announcing the directions that affect transport operations at a media briefing in Pretoria on Friday, following the publishing of the new regulations this week, Transport Minister, Fikile Mbalula emphasised…
Re-emerging from the ruins of the economy-crippling COVID-19 pandemic presents South Africa with an opportunity to arise with a renewed economy that addresses the country’s social deficiencies. This was the potent message delivered by President Cyril Ramaphosa in a live-streamed address on Workers’ Day. “South Africans will have to dig deeper than any other moment, since the advent of democracy, to rebuild our nation,” said the President on Friday. “Beyond this grave health emergency, we should see this as a time of possibility and opportunity for renewal. It is a time to work together as South Africans to create a…
The Department of Basic Education has clarified that only senior officials in the education sector will return to work on 4 May to prepare for the eventual reopening of schools. There had been uproar and anxiety among parents after the department’s presentation to Parliament’s Portfolio Committee on Basic Education, where a tentative proposal was made for schools to reopen on 6 May. On Thursday, Basic Education Minister Angie Motshekga clarified that the presentation was merely a consultative document, with no concrete decisions taken. Government has had to revise the original school calendar due to the COVID-19 pandemic, which saw schools…
With little practical or immediate relief in sight for most restaurants and bars, Stella Artois, one of SA’s best-loved premium beers in the SAB stable, has launched the #SaveYourSpot initiative that aims to put much-needed financial relief into the hands of these businesses. Stella Artois has created an online platform where consumers can buy a voucher for their favourite local restaurant or bar. The premium beer brand said that with every voucher purchased it will add an additional 50% of the value of each voucher. It added that consumers who buy vouchers will be able to redeem them at their favourite…