Author: Staff Writer
Eskom today announced that loadshedding continues to remain suspended until further notice, due to the continued improvement in the reliability and stability of the generation coal fleet. Loadshedding has currently been suspended for 79 consecutive days. The last time South Africa experienced such an extended suspension of loadshedding was the period between 23 July 2021 and 06 October 2021. Our generation performance continues to surpass the winter forecast for this year. The current unplanned outages average is at 12 000MW. Managing morning and evening peaks With the ongoing colder weather, Eskom will strategically utilise, as planned in its winter outlook, its…
Both the new car market and used car market hit the skids in May. New car passenger sales fell by -11.7% year-on-year while used car sales were not that far behind, falling by -10.5% year-on-year and -3% month-on-month. “While the drop in sales is indicative of a market that is coming under pressure, one must be cognizant of consumer uncertainty surrounding the elections, which impacted May car sales,” states George Mienie, AutoTrader CEO. In May, sales in the used car market contracted by -996 units resulting in 27,729 used cars sold. The cumulative value of used cars sold amounted to…
Mining companies, along with other businesses, need to make the fundamental shift towards realising that corporate sustainability is dependent on the ecosystems in which they operate. So says Thabisile Phumo, Executive vice president: Stakeholder Relations at Sibanye-Stillwater. Phumo was part of a panel discussing the topic of “Successful integration of the S into ESG in the South African Context” at a hybrid webinar event hosted by Tshikululu Social Investments in Johannesburg last week. “Our view is that we are not separate from the issues and the context of the environments in which we operate. If there is no South Africa,…
Cilo Cybin Holdings has made history by becoming the first cannabis company to receive approval for a listing on the Johannesburg Stock Exchange (JSE). This milestone marks a significant step forward for the cannabis industry in South Africa, opening new opportunities for growth and investment in the burgeoning sector. The JSE’s approval signals growing acceptance and recognition of the potential of cannabis businesses in mainstream financial markets. Cilo Cybin Holdings is to be listed on the AltX market of the JSE on Tuesday, 25 June 2024. Earlier, the company achieved a significant milestone with its Initial Public Offering (IPO), raising…
This Youth Month, the Financial Sector Conduct Authority (FSCA) is cautioning young people about the dangers of gambling, which can lead to addiction and have devastating financial consequences for families. The South African betting industry, which includes sports betting and online casinos, has seen its revenue soar from R8.8 billion in the 2019/20 financial year to R23.7 billion in 2022/23. This surge in profits comes amidst rising unemployment rates—50% of which affect the youth—and an increasing cost of living for South Africans. Although gambling can be a legitimate form of entertainment, its rapid growth and the potential negative impacts on South…
Competition amongst local couriers has increased dramatically with the emergence of e-commerce giants, like Amazon, Temu and Shein into the South African market impacting both the micro and macro environments and leading to a greater demand and delivery volume. South Africa’s e-commerce market is expected to reach US$16.3 billion by 2030, with an annual growth rate of 15%, according to a RationalStat report.[1] Another factor contributing to this exponential growth of online shopping is the surge in Gen Z’s shopping habits: with a whopping 98%[2] of tech-savvy Gen Z owning smartphones, 32% of them shop online at least once daily…
Under Armour proudly unveils its latest campaign, “To the greatest team the world has never seen,” a stirring tribute to the unsung heroes of sport – the teams and individuals whose grit and determination often go unnoticed. This campaign paints a vivid picture of the extraordinary journey of those who defy the odds, echoing the spirit of resilience and a relentless pursuit of excellence. From its inception, Under Armour has been driven by a commitment to innovation and a deep understanding of athletes’ needs. The brand’s pioneering product, the HeatGear Baselayer, revolutionised athletic wear by providing a lightweight, moisture-wicking fabric…
Volkswagen Group Africa (VWGA) has appointed Yolanda Cuba as a non-executive director on their Board of Management. Effective from June 1, 2024, Cuba also serves as the Vice President for the Southern and East Africa regions at the MTN Group. With over 20 years of experience in various African markets and across multiple industries, including telecommunications, manufacturing, and investment, she brings a wealth of knowledge to the board. A chartered accountant by profession, Cuba holds a Bachelor of Commerce degree in Statistics from the University of Cape Town, a Bachelor of Commerce Honours degree in Accounting from the University of…
MTN South Africa and Huawei co-hosted the IP Day Summit themed “Net5.5G Network Development.” The summit brought together top experts from MTN’s network planning and Huawei’s data communications teams. They discussed global network construction concepts, latest innovative technologies, and business insights in the IP field, aiming to further improve MTN’s network resilience and service experience. At the summit, MTN and Huawei signed a memorandum of understanding (MoU) for strategic cooperation on Net5.5G. Through this MoU, they will jointly promote the large-scale application of key capabilities of Net5.5G, such as 400GE, SRv6, slicing, and the Network Digital Map, to continuously improve…
South African retail has experienced profound transformation over the past few years, with digital platforms and ecommerce reshaping consumer expectations. However, we are just in the earliest phases of digital transformation and SME retailers will need to be agile to keep up with emerging customer demands and new competitors. Steven Heilbron, CEO of Capital Connect, a fintech that offers fast and flexible business funding to South African retailers, outlines five trends that are shifting the retail landscape: Ecommerce giants enter the market Ecommerce continues to reshape retail in South Africa, with a study from World Wide Worx showing that online…