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Govt extends deadline for registration of spaza shops

Published: 18 Dec 24

Government has extended the deadline for registration of all spaza shops and other food-handling facilities to February 28, urging municipalities to still reserve capacity to assist those who will be registering. The initial deadline was December 17.

July Ndlovu, Billy Mawasha join AECI board

Published: 18 Dec 24

Chemicals group AECI has appointed July Ndlovu and Billy Mawasha as nonexecutive directors of its board, with effect from July 1. "The addition of Mr Ndlovu and Mr Mawasha to the board of AECI is an exciting achievement that both strengthens our governance and further diversifies the directorship. Their invaluable leadership experience and deep knowledge of the mining industry will contribute significantly towards enabling the group's sustainable growth," says AECI chairperson Dr Khotso Mokhele.

Tongaat Hulett to sell all South African assets, operating businesses to Vision Sugar

Published: 18 Dec 24

Distressed JSE-listed sugar producer Tongaat Hulett has announced that it will sell all its assets and operating businesses in South Africa to Vision Sugar South Africa. The purchase price for Tongaat Hulett's South African assets will be the fair market value determined by an appointed independent valuer, whose decision, absent any manifest error, shall be final and binding on the parties, plus an amount equal to the assumed liabilities, the company said in a statement.

Futuregrowth invests R150m in Sourcefin

Published: 18 Dec 24

Investment company Futuregrowth Asset Management has invested R150-million in small, medium-sized and microenterprises (SMMEs) finance and specialist supply chain support financial technology (fintech) company Sourcefin. Sourcefin works to bridge the critical R300-billion gap in SMME financing and empowers businesses to overcome working capital challenges and successfully fulfil public and private sector purchase orders, which are binding agreements on which the SMME is obliged to deliver.

Mozambique's post-election unrest to hit economic growth, says IMF official

Published: 18 Dec 24

Mozambique's 2024 economic growth is likely to be revised down from a previous forecast of 4.3% due to post-election civil unrest and the impact of Cyclone Chido, a senior International Monetary Fund (IMF) official said. In October, Daniel Chapo, the candidate of Mozambique's ruling party Frelimo, was declared winner of the presidential election that opposition parties say was marred by voting irregularities.

Dorah Modise named Climate Commission director, Olver to serve as deputy chair

Published: 17 Dec 24

The Presidential Climate Commission (PCC) has appointed Dorah Modise as executive director, effective from February 24, 2025, following the retirement of Dr Crispian Olver, who President Cyril Ramaphosa subsequently appointed as deputy chairperson of the Commission from January 1. Modise has more than 26 years of experience in environmental sustainability; international diplomacy; local, regional and national government; industry associations; and academia.

Icasa gives Telkom permission to dispose of towers, masts business

Published: 17 Dec 24

Industry regulator the Independent Communications Authority of South Africa (Icasa) has approved mobile network operator Telkom's R6.75-billion disposal of its Swiftnet business, which houses its masts and towers business. The decision obtained from Icasa on December 13 results in a change of control of Swiftnet’s licences and fulfils one of the suspensive conditions for the disposal.

Kenya plans IVF to save rare White Rhinos nearing extinction

Published: 17 Dec 24

Kenya plans to use assisted reproduction techniques to save the northern white rhino — a species that has only two females remaining worldwide — from the brink of extinction. It will involve developing embryos in a laboratory and using so-called stem-cell-associated techniques with ancient material to help reproduce the rare mammals, Kenya Wildlife Service said in a notice on its website.

Nubank invests $150m in Tyme's Series D capital raise

Published: 17 Dec 24

Digital financial services group Nubank has invested $150-million in Singapore-based financial services firm Tyme's oversubscribed $250-million Series D capital raise, with Catalyst subscribing for $50-million and existing shareholders investing a further $50-million. With operations spanning Latin America and Europe, Nubank brings substantial resources and significant expertise to its partnership with Tyme’s complementary footprint in Africa and South-East Asia.

Structural reforms needed for growth in South Africa, collaboration crucial – BLSA

Published: 17 Dec 24

Growth in South Africa cannot occur without underlying structural reforms and, to accelerate the implementation of structural reforms, effective collaboration between business, labour and government remains crucial.