Business Explainer
@BuzinessX
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Explaining the complexities of today’s business landscape — [email protected]
Africa
Joined March 2017
ESKOM PROFITS HIT R17BN . Eskom’s half-year profit skyrocketed to R17.8-billion, up from R1.68-billion, thanks to higher electricity tariffs, improved cash flow, and government debt relief. Revenue rose by 16% to R183.7-billion, while net finance costs dropped by 10%. Load
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Rwanda 🇷🇼 is set to open its first smartphone factory, making it the first in Africa to locally-manufacture phones that will meet the demand of the African market. The announcement was made by Paula Ingabire, Rwanda’s Minister for Information and Communications Technology 👏🏾
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MINIMUM PAY. Investec has set minimum pay for its SA employees at R21,000 a month, becoming the latest company in the financial services sector to disclose its minimum pay.
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Please support Mamaki who's selling Kikuyo-type green grass at R5 a piece. Her remarkable team is based in Johannesburg where they are more than happy to deliver the grass to you, or ready to welcome you for collection. Please place your orders via WhatsApp +27 76 155 3623.
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Please support Lindelwe Dube (19), she makes African-inspired jewelry and bags. African material bags: R200 (material availability is not guaranteed) . Ndebele bags: R170. She couriers across South Africa for an additional R50. Contact: +27 81 428 8640. Please RT for awareness
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MINIMUM PAY. Discovery has raised its minimum pay to R16,600 per month, effective from October. This decision is part of their commitment to fair pay and reducing wage gaps. The CEO, Adrian Gore, reported improvements in diversity, with 45% of senior managers being female and
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SAA IS NOW PROFITABLE . South African Airways (SAA) has reported a net profit of R252-million for the 2022/23 financial year, marking its first profit since 2012. This turnaround follows a challenging period where the airline lost R23.5-billion over four years. SAA's revenue
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A Lesotho-based cannabis cultivator, MG Health, has been approved as the first manufacturer in Africa to export the medicinal cannabis flower as an active pharmaceutical ingredient (API) to the European Union.
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IT’S RAINING PROFITS. African Rainbow Capital (ARC), led by Patrice Motsepe, has invested an additional R295-million in TymeBank and telecom company Rain. Rain, known for its affordable mobile services, reported R2.5-billion in earnings and saw a R598-million value gain.
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Siyamthemba Dumile 🇿🇦 will soon be publishing his first book, “I Am A Keeper". He is a graduate but worked at a petrol filling station, saved some of his money to help publish his book 👏🏾
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Adorables is the first 💯🇿🇦 Black-owned premium baby diaper brand. Show your support🙏🏾.
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The government of Rwanda 🇷🇼 has caught the attention of the world after it announced earlier this week, through the Ministry of ICT and Innovation, that the country will launch a satellite that will provide broadband internet to schools in remote areas 👏🏾
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MINIMUM PAY . FirstRand, which owns FNB, RMB, and WesBank, has raised its minimum salary for non-banking staff to R15,400 per month, while banking roles now start at R17,900 per month. These pay changes come with other benefits like medical aid subsidies and school fee
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#FromAnotherMother. University of Cape Town Professor and Chemist, Kelly Chibale from Zambia 🇿🇲 has discovered a new drug that can combat Malaria at contact, thus killing it before it kills its victim ✊🏾👏🏾
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SPAR SELLS HEAD OFFICE TO SURVIVE. Spar is selling its Pinetown head office and other non-core assets to reduce its massive R9-billion debt. The group is also exploring leasing its fleet and selling some of its corporate stores. These steps follow a disastrous investment in
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These smart vehicles were made by students of Uganda’s Makerere University 🇺🇬
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MUSK DEMANDS BEE POLICY CHANGE. SpaceX has asked South Africa’s communications regulator, Icasa, to rethink its Black Economic Empowerment (BEE) rules for foreign satellite operators. Currently, the law requires at least 30% local shareholding, which SpaceX argues limits
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Pamper your kids. R150 per child.Manicure.Pedicure.Facial.Feet soak and scrub. Around Gauteng 🇿🇦. 072 400 5545 or njabeng@indalomobilespa.co.za. Please RT for awareness.
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Please support 10 year-old, Enhle, who just started designing her own clothing line. Her garments are meticulously custom-made to meet your expectations. You can place an order for your 4-12 year-olds on . 27 71 276 2173. Or check out her Facebook Page: Enhle Babes Couture.
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MERCEDES' PROFITS HIT THE BRAKES. Mercedes-Benz reported a significant drop in profits for the third quarter, falling over 50% to R33-billion, down from R55-billion last year. Sales also declined by 7% to R522-billion, with vehicle deliveries dropping 3% and luxury car sales
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This grill allows you to cook/braai all sides of your meat at once.
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Please support Tess Makhala who's with Acrylic Fabrication. They design and manufacture cosmetics acrylic products, pretty much anything you can imagine. 📧 tess@acrylicfab.co.za.📞 +27 (0) 11 312 7458.🌐 .🏡 Midrand 🇿🇦
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Please kindly support the amazing work by Elijah's Pinewood Furniture. They do the following (but not limited to):. 🛠️ Desks & chairs .🛠️ Chest of drawers .🛠️ Wooden laundry baskets. 🖌️All painted with the colour of your choice. ☎️ +27 (0) 72 843 5219. Please share
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Please support Gift Mkhize who does exceptional windowfrosting designs. Retweet or place your order now and get it delivered same time. No deposit required. Contact: 078 900 6759
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BREAKING. Tiger Brands has agreed to pay R2.5-billion to cover urgent medical expenses for victims affected by the Listeriosis outbreak. The outbreak, linked to processed meats between 2017 and 2018, tragically claimed 216 lives.
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TIGER BRANDS CALLS LOCAL FARMERS. Tiger Brands, South Africa's largest food company, is urging local farmers to grow more wheat and white beans to improve food security and reduce reliance on imports. CEO Tjaart Kruger noted that over 60% of wheat is imported, making prices
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Please support Gugu Bhengu, Founder of Gugu Mobile Boutique. She's currently taking pre-orders on #BeadedShoes. Prices are determined by the shape and size of the shoes. 🏘️ 47 Habour View, Esplanade Embarkment, Durban🇿🇦.📞 +27 (0) 71 500 5830
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WHITE EXECUTIVES CHEAT BEE LAWS. A court has ruled against six former white executives of Dimension Data, who created an illegal scheme to take control of a R1.4-billion property deal meant for Black Economic Empowerment (BEE). The executives, including co-founders Jeremy Ord
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PARLIAMENT DEMAND BANKS EXPLAIN HIGH FEES. Members of Parliament (MPs) are calling on South Africa's major banks to explain their high service charges and the exclusion of small businesses from funding. Mzwandile Masina, chairperson of the Parliament's Trade, Industry and
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Karabo Mathang-Tshabuse is the first African female FIFA-accredited soccer agent 👏🏾. Her company, P Management, represents about 40 players, and has played a role in the success of numerous players including former Banyana Banyana’s captain, Amanda Dlamini.
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GRAIN CRISIS: SA IMPORTS FROM THE USA. South Africa has imported white maize for the first time since 2017, after experiencing poor local crops and strong demand from Zimbabwe. The first shipment, 23,700 tonnes from the US, is being offloaded at Durban's port, with another
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African countries with the highest white population:. 10) Senegal - 50 000.9) Botswana - 63 000.8) Kenya - 67 000.7) Mozambique - 82 600.6) Morocco - 100 000.5) Tunisia - 105 000.4) Madagascar - 120 000.3) Namibia - 194 000.2) Angola - 351 000.1) South Africa - over 5 million.
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Coffee Tables for sale. Place an order via WhatsApp +27 (0) 82 540 9298 [Thabiso]. 10 days to deliver 🇿🇦
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PROPERTY PROFITS FALL FLAT. Balwin Properties, South Africa's biggest sectional title developer, has seen its earnings drop sharply. For the six months ending in August, headline earnings fell 57% to R76.4-million, and profit margins dropped from 28% to 23%. Apartment sales
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NEW STELLENBOSCH CHANCELLOR. Lesetja Kganyago, South Africa's central bank governor, has been appointed as the new chancellor of Stellenbosch University, succeeding retired Judge Edwin Cameron. The university’s electoral college met and unanimously elected Kganyago for the
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CHAIR APPOINTMENT. Muriel Dube has been appointed as the chairperson of Sasol . Background. ➡️Joined Sasol board in 2018 as an independent non-executive director. ➡️Holds an MSc from Oxford in environmental change and management, with extensive experience in sustainability and
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LAW FIRM SUES GOVERNMENT OVER BEE. Norton Rose Fulbright has filed a lawsuit against the South African government, challenging the new legal sector transformation policy. The legal confrontation, was initiated last month against Trade, Industry & Competition Minister, Parks
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The Somalian-Canadian teenager, Hamdi Ali (17), has discovered a new way to extract rough diamonds from a rock without using the current method that might otherwise destroy the gems. Stakeholders in the diamond industry have since welcomed the discovery 👏🏾
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Milelo Health is a boutique healthcare facility on Rivonia Boulevard run and owned by Nongcebo Nsibande (registered nurse) 🇿🇦. ~HIV Counseling and Testing.~STI Screening.~Family Planning.~Basic health checks and more. WhatsApp: +27(0) 73 204 5098 for more information.
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EXXARO CEO SUSPENDED. Exxaro has placed its CEO Dr. Nombasa Tsengwa on precautionary suspension. This decision is effective immediately and comes as the company launches an independent investigation into allegations regarding workplace conduct and governance issues. The Exxaro
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CALL FOR APPLICATIONS: SEDFA FUNDING OPPORTUNITY. Small Enterprise Development and Finance Agency (SEDFA) invites applications from South African-owned businesses, including MSMEs and Sole Proprietors, to apply for funding under our Asset Assist Programme. To qualify, your
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CARMAKERS PLEAD WITH ARCELORMITTAL . South Africa's carmakers are urging ArcelorMittal SA to delay the closure of its steel mills in Newcastle, Vereeniging, and eMalahleni. The mills, which produce vital steel for industries like construction and automotive manufacturing, are
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AFRICAN BANK STRIKES DEAL WITH ESKOM. African Bank is set to acquire Eskom’s staff home loan book and assets for R5.7-billion by May 2025. This move helps Eskom meet conditions for a R254-billion debt relief package from the National Treasury. For African Bank, the deal
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Top 10 Universities in #AFRICA (6 from South Africa):. 10/ University of Nairobi 🇰🇪.9/ UKZN 🇿🇦.8/ Ain Shams University 🇪🇬.7/ UP 🇿🇦.6/ UJ 🇿🇦.5/ Cairo University 🇪🇬.4/ The American University in Cairo 🇪🇬.3/ Stellenbosch University 🇿🇦.2/ Witwatersrand🇿🇦.1/ UCT 🇿🇦
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Please assist Orapeleng Olerato Vivian, an exceptional 13-year-old gymnast. She needs support in the following areas:. 🙏🏿 Sponsors.🙏🏿 Clubs.🙏🏿 Mentors. You can contact her mother on this number:. 27 (0) 72 208 9092. Please RT for awareness.
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CHINA SEEKS TO BUY VW FACTORIES. Chinese officials and automakers are eyeing Volkswagen's German factories, which are set to close. This could be China's most politically sensitive investment in Germany's auto industry, allowing them to gain influence. According to Reuters,
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SANLAM WELCOMES ZULU BACK. Sanlam Investments Multi-Manager (SIMM) has appointed Lethu Zulu as the new head of hedge funds, responsible for managing local and global hedge funds valued at R7-billion. This marks Zulu's return to SIMM, where he previously worked from 2016 to
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NAMPAK’S R12.5M BEE DEAL. Nampak, a packaging company listed on the JSE, has teamed up with Cambrian Capital Partners in a Black economic empowerment (BEE) deal. Cambrian plans to invest in key sectors like manufacturing and green energy, aiming to boost sustainable jobs and
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PhD researcher, Rose Nakasi 🇺🇬 is the lead scientist behind Uganda's first Artificial Intelligence lab, at Makerere University. They have developed an app that tells your doctor if you have malaria. The app will diagnose patients more quickly, affordably & accurately 👏🏾
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Jerry Mallo, the 25-year-old Nigerian who went viral for building a sports car from scratch, is now mass-producing foot-match dispensers to prevent contracting the corona virus while cleaning hands - the safest way to wash hands.
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ACSA POSTS R400M PROFIT. Airports Company South Africa (ACSA) has announced a R400-million profit for the 2023/24 financial year, marking its first profit since the COVID-19 pandemic. CEO Mpumi Mpofu revealed this during a briefing at OR Tambo International Airport,
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JUST IN: ITHALA TO FACE LIQUIDATION . The Prudential Authority has filed for the provisional liquidation of Ithala SOC Limited at the Pietermaritzburg High Court, citing the protection of approximately 257,000 depositors. Ithala, though often referred to as a bank, was never
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MORE STEINHOFF EXECUTIVES EXPOSED . According to a PwC report, Markus Jooste, the former CEO of Steinhoff, and several top executives invested R100-million in a commercial property in Portugal to secure golden visas in 2016. This strategy sought to help them and their families
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$122M FINE FOR McKINSEY AFRICA. McKinsey and Co Africa has agreed to pay over $122-million (about R2.3-billion) to settle a US investigation into bribery in South Africa. They were charged with conspiracy for paying bribes to officials at Eskom and Transnet for confidential
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GOVERNMENT EYES JSE LISTINGS. South Africa's government is in talks with the Johannesburg Stock Exchange (JSE) to list state-owned companies (SOEs) to attract investment. Maropene Ramokgopa, minister in the Presidency responsible for planning, monitoring and evaluation, said
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Just five countries account for half of Africa’s total GDP. 🇿🇦 South Africa: $373.23-billion.🇪🇬 Egypt: $347.59-billion.🇩🇿 Algeria: $266.78-billion.🇳🇬 Nigeria: $252.74-billion.🇪🇹 Ethiopia: $205.13-billion. Combined GDP: $1.4-Trillion — equivalent to the rest of the continent’s
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Nontuthuko Maningi and her team at the University of Pretoria have developed a new diagnostic test to detect the stronger form of Tuberculosis (TB). This means MDR-TB patients will be identified more easily and receive correct medication 👏🏿
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Please support Yolisa Velelo (29) from Khayelitsha 🇿🇦. She's the owner of Velelo Farms. 🐑 sheep ~ R1500-R2500 .🥚 a box of large eggs ~ R220. She'll be opening a new branch in the Eastern Cape. She's also planning to venture into cattle farming. WhatsApp +27 (0) 83 744 3160
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Gabriel Emmauel 🇳🇬 CEO of OpenBinacle, has developed the world’s first Artificial Intelligence portal that can translate over 2,000 African languages 👏🏾
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#DidYouKnow. While Egypt is most well-known for its pyramids, the Republic of Sudan actually has 223 of its own pyramids, double the number of pyramids in Egypt.
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Order the Africa bookshelf for R5,500 for your home or office and get free delivery plus installation anywhere in Gauteng. Call or WhatsApp Sandile on 081 240 8355. Instagram : sawanotrading.Facebook : Sawano Xclusive Wood and Handyman Services.Email : sandile@sawano.co.za
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Zambia’s Besa Mumba and Kalenga Kamwendo are the youngest commercial pilots in Africa! Today, they stand as proud testament of the continent’s youth potential, and what they can achieve when given the opportunity. Willing to guess their age?
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SHOPRITE CONTINUES TO IMPRESS. Shoprite, Africa's biggest retailer, has reported a 10.4% increase in sales for the first quarter of its financial year. The company opened 68 new stores, with its Supermarkets RSA segment, which includes brands like Checkers and Usave, growing by
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CAPITEC HIT WITH R56M FINE. The South African Reserve Bank (SARB) has fined Capitec Bank R56.25-million for failing to comply with the Financial Intelligence Centre Act (FIC Act). The violations include inadequate customer due diligence, delayed reporting of suspicious
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NEW APPOINTMENTS . President Cyril Ramaphosa has announced the appointment of a new Presidential Economic Advisory Council for his seventh administration. The council's role is to advise the Presidency and government on the development and implementation of economic policy and
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#GoodMorningAFRICA . RT if you're wearing your Heritage outfit at work/school today 🤳🏾. Like if you're not 😍. We're looking forward to a reviving #HeritageDay on Monday.
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Reabetswe Ngwane is a South African entrepreneur who recycles tyre tubes for a living, turning them into fashionable bags 👏🏿
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Phenyo Sebaeng 🇿🇦 founded Sebaeng Solution Manufacturing Company and carved out a niche for himself in the multi-billion rand alcoholic beverages industry by manufacturing innovative disposable ice buckets - made from recyclable material 👏🏾. (Business Report)
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South Africa's most valuable brands in 2018 (Forbes) . 1/ MTN $5.63b. 2/ Sasol $2.08b. 3/ Vodacom $1.83b. 4/ Standard Bank $1.67b. 5/ Absa $1.28b. 6/ Nedbank $1.25b. 7/ First National Bank $1.1b. 8/ Mediclinic $0.96b. 9/ Investec $0.95b. 10/ Woolworths $0.94b
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BOXER'S R8-BILLION JSE LISTING. Pick 'n Pay will be listing its low-cost Boxer business on the JSE to raise as much as R8-billion, which would make it Africa’s biggest offering this year. 🥊Boxer currently has 489 stores, with plans to expand significantly with a two-year
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Nkululeko Msomi purifies water using charcoal sticks. The 25-year-old final year chemical engineering student at the Mangosuthu University of Technology (MUT) is the founder of a water purification business.
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As you make your way to the #MandelaLecture to see/listen to #BarackObama, please make every effort to support small businesses around the Wanderers Stadium area. This, too, could be a memorable day for them.
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Could Ghana be the next big tourist destination? 🇬🇭
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These Google balloons are bringing Wi-Fi to remote areas.
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ON THE MOVE . Phuthi Mahanyele-Dabengwa, the CEO of Naspers South Africa, is poised to be appointed as an executive director on the boards of both Naspers, which is listed on the JSE, and its Amsterdam-listed subsidiary, Prosus. Her appointment to the Naspers board will take
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Philani Dhlamini & Keneilwe Mogoerane are proud founders of Phil & Ken Leather Collection 🇿🇦. They manufacture genuine.~leather duffel.~toilet bags.~wallets.~belts, and.~chesterfield couches. info@pkleatherc.co.za. 27 (0)72 120 9623
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Exxaro has recently emerged victorious in a legal battle to evict the Sindane family, who have resided on the land in Mpumalanga for 60 years. The court ordered the Sindane family to vacate the land by the end of January 2024.
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Bruce Diale is a qualified soil scientist and enviropreneur from Limpopo 🇿🇦. He owns the patent for the Gardenizly tower garden. The Gardenizly facilitates food security through efficient water usage and was created in order to relieve hunger. 👩🏿🌾
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R100BN TRANSFORMATION FUND LAUNCHED. South Africa’s Department of Trade, Industry & Competition is raising R100-billion from the private sector to create a Transformation Fund aimed at assisting Black-owned businesses. The fund will be managed by the National Empowerment Fund
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NAKED SCORES R700M. Naked Insurance has raised a record R700-million in its latest funding round, marking the largest insurtech fundraise in Africa. The South African-based digital insurer, which uses artificial intelligence (AI) to offer quick and convenient online insurance,
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NEW R3BN CEMENT PLANT IN THE CAPE. PPC has signed an agreement with Sinoma to build a R3-billion cement plant in the Western Cape. The new plant, which will produce 1.5 million tonnes of cement annually, is designed to be more energy-efficient with advanced technology, including
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Try these habits, you’ll have a high rate of return in life: . 1~Sleep 8 hours a day .2~Go for a walk each day .3~Read 4,000 words each day .4~Drink a litre+ of water each day .5~Save at least 10 percent of your income .6~Disable your cell phone notifications while you work.
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Kindly support Thamsanqa Mbongi, the man behind these beautiful convertible picnic/park benches. Instead of pallets, he uses quality wood for better stability. His prices are quite reasonable. 🏘️ Soweto 🇿🇦.📞 +27 (0) 83 208 7836
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“Nipsey is the reason why most of you know me today, he delivered me to the gates of hip hop’s sanctuary and protected me from the evils at bay,” said Ghanaian-American tech genius Iddris Sandu - who helped Nipsey Hussle set up his smart store.
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STATEMENT - ITHALA FIGHTS BACK. Ithala faces closure after the Repayment Administrator (RA), Johannes Kruger, ordered it to stop accepting deposits and processing withdrawals. This decision, despite Ithala’s financial stability and a clean audit from the Auditor General, risks
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Most valuable South African companies by market capitalisation - (stats with Statista). 10/ Bidvest Group - A conglomerate with interests in services, trading, and distribution. Market Cap: R99.2-billion. 9/ Sanlam - A diversified financial services group focusing on insurance,
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AVOCADO SHORTAGE. Woolworths is facing an avocado shortage, caused by local harvesting issues and logistical delays from Tanzania. January is typically a difficult month for avocados as the fruit is out of season. However, according to Fin24, the retailer expects the situation
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Subjects You Should Learn: . 1~Emotional intelligence .2~Social intelligence .3~Financial literacy .4~Body language.5~Respect .6~???.
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It took only six months to build this state-of-the-art Kigali Arena, set to open in Rwanda soon. The arena contains 13 cafes and bars, restaurants, a media hall and a fitness centre, covering an area of 28,000 square metres. The NBA's Africa Final will be held here 🇷🇼
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MCDONALD’S SALES HAVE DECLINED. The food chain's sales have dropped more than expected, signalling that consumer demand is decreasing. With food prices still high, most people are opting for cheaper meals or eating at home. In the last quarter, global sales at McDonald’s
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For all your Volkswagen, Audi repairs, diagnosis & services, call/WhatsApp Veli +27 81 304 7872. Can’t drive your car? No problem, he'll come to you. No repair is too big or too complicated, he says. Affordable service that doesn’t compromise quality! 👌🏽👨🏾🔧. Gauteng 🇿🇦
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How African Bank has bounced back, reporting a R505m profit. The insurance business of African Bank also performed exceptionally well, with a 92% surge in profit, totaling R670 million.
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#FromAnotherMother. At 19-years-old, Betelhem Dessie is perhaps the youngest pioneer in Ethiopia's 🇪🇹 tech scene. She has FOUR software programs copyrighted solely to her name, including an app developed for the Ethiopian government to map rivers used for irrigation 💪🏿👏🏿
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The top 10 Contemporary African Writers You Should Know:. 10/ Ngugi wa Thiong’o 🇰🇪.9/ Ben Okri 🇳🇬.8/ Alain Mabanckou 🇨🇬.7/ Nadine Gordimer 🇿🇦.6/ Aminatta Forna 🇸🇱.5/ Nuruddin Farah 🇸🇴.4/ Mariama Bâ 🇸🇳.3/ Ayi Kwei Armah 🇬🇭.2/ Chimamanda Ngozi Adichie 🇳🇬.1/ Chinua Achebe 🇳🇬
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INVESTEC'S STRATEGY—A WINNING FORMULA. Investec's international strategy is thriving, especially in Switzerland, where funds under management grew by 11.9% to £2.67-billion (R60-billion) in six months. This increase reflects a 25% rise over the past year. Targeting high net
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TONGAAT SALE FACES LEGAL BATTLE. Robert Gumede’s Vision consortium is challenging a legal bid by RGS to block the sale of Tongaat Hulett, which has been in business rescue since October 2022. RGS, a former bidder, argued that Vision failed to secure the necessary capital and
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PARLIAMENT TO QUESTION BANKING SECTOR. South African MPs will meet with major banks and financial authorities next month to review lending practices. The Portfolio Committee on Trade, Industry and Competition aims to ensure transparency and fairness, particularly for vulnerable
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When you pitch:. Tell a story.Introduce your team.Explain your solution.Describe your successes.Outline your competition.Define your target market.Clarify your funding needs.Describe your business model.Provide your financial projections.Explain your plan for customer acquisition.
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