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Unlock true potential of Africa by empowering its youth

26th October 2018 Africa evokes distinctive images of its natural wildlife and majestic landscapes. Of course, there is more to the Africa story, driven by its people, tremendous talent pool, and the untapped resources that will take the continent to the next level of growth in the coming years. 

Lionsgold apologises as shares head for cancellation

By: Mariaan Webb     19th October 2018 Gold exploration, production and retail firm Lionsgold CEO Cameron Parry on Friday offered an apology to shareholders as the company announced that trading on the Aim would be cancelled on November 12. Lionsgold, which is developing a gold currency and banking platform, was suspended from... 

Tech, fashion showcased in iconic African designs

By: Natasha Odendaal     19th October 2018 A successful campaign aimed at bringing to life the transformative capabilities of data has revealed the combination of the power of technology and fashion and turned a concept into a dialogue. A thought-provoking project under the bannered theme “Fabric” undertaken by Siemens in August... 

EOH hopes restructuring will create new growth platform

By: Schalk Burger     19th October 2018 JSE-listed information technology group EOH has separated into two companies as part of its work to renew the business and position it for growth. The EOH-branded information and communication technology (ICT) business will focus on digital services in a digitising economy and the Nextec company... 

Poverty comes with a data premium – Competition Commission hears 

By: Natasha Odendaal     17th October 2018 Just over a year since initiating a market inquiry into data services, the Competition Commission on Wednesday kicked off its three-day public hearings to obtain a clear understanding of what is causing or leading to high data prices, along with the current state of competition, in South Africa.... 

Karri app for school payments expands offering to any organisation needing to collect funds

16th October 2018 The Karri app, launched in April last year, has grown to just under 300 South African schools driven by parent and teacher demand for a solution to school payments. Due to the success of this collections platform, Karri has expanded its offering to include collections for just about any purpose... 

Vunani, Ayo partner up for R100m fintech JV

By: Marleny Arnoldi     8th October 2018 Technology service providers AYO Technology Solutions and financial services group Vunani Group have formed a R100-million joint venture (JV) to expand the platform and financial services activities of the listed Vunani Limited. Vunani Limited is a diversified financial services group with more... 

Strongbow appoints Osisko’s Njegovan to its board

By: Creamer Media Reporter      8th October 2018 Vancouver-based Strongbow Exploration has appointed Osisko Mining VP for new business development, Don Njegovan, to its board of directors to replace John Burzynski, who stepped down on Friday. Burzynski will join the company’s technical advisory committee. 

Revenue up, profit down, as EOH cuts cloth for future growth

By: Schalk Burger     3rd October 2018 JSE-listed information technology group EOH has separated into two companies as part of its work to renew the business and position it for growth. The EOH-branded information and communication technology (ICT) business will focus on digital services in a digitising economy and the Nextec company... 

MC Mining eyeing acquisition, project access, SEZ 

By: Martin Creamer     27th September 2018 Coal exploration, development and mining company MC Mining, which has painstakingly removed many obstacles in its path in the last five years, is targeting the acquisition of a second suitable operational coal mine in the mould of the cash-generative Uitkomst, taking strong steps to secure access... 

MC Mining reports normalised $9.8m loss

By: Martin Creamer     27th September 2018 Coal exploration, development and mining company MC Mining on Thursday reported a normalised after-tax loss of $9.8-million in the 12 months to June 30, when the company achieved full integration of  the cash generating Uitkomst thermal and metallurgical colliery, which sold $32.7-million worth... 

KYC models need to upgrade

25th September 2018 Know Your Customer (KYC) and anti-money laundering approaches will need a complete overhaul to cope with the wave of digital change, the mainstreaming of blockchain technology and efforts to bank two billion unbanked people, says Ideco. Know your customer (KYC) and anti-money laundering (AML) is... 

Poorer South Africans carrying the can for SA’s lack of financial inclusion

19th September 2018 Paul Kent, MD of Sureswipe, says that South Africa needs a national financial inclusion strategy that has the commitment of all the dominant players in government and business, and that we should look at other emerging economies like India and Indonesia to see how it can be done.   The challenge... 

Zwane issued ultimatum to bank on closing Gupta accounts, inquiry hears  

By: African News Agency      17th September 2018 In trying to force Standard Bank to reverse its decision to close Gupta-linked business accounts, former mineral resources minister Mosebenzi Zwane reminded the bank executives that the South African government was in charge of issuing banking licenses and could change banking laws anytime.... 

ANC, ministers threatened Standard Bank to force it to keep Gupta accounts open, State capture commission hears

By: News24Wire      17th September 2018 Former mineral resources minister Mosebenzi Zwane threatened Standard Bank's operating licence and threatened to change the banking laws, all in an effort to allow the politically connected Gupta family to keep their bank accounts open. This is according to Standard Bank's former head of... 

Rand continues to gain from Turkish rate hike

By: News24Wire      14th September 2018 The rand traded firmer against the dollar in early trade on Friday, as emerging market currencies continued to benefit from the rise on Turkish interest rates.  The Turkish central bank on Thursday raised the benchmark interest rate from 17.75% to 24%, which caused the lira to strengthen by 4%.   

Chairman of Futureproof, S’onqoba Maseko on instilling new ways to accelerate our youths

By: Creamer Media Reporter      13th September 2018 In the near future, traditional employment opportunities will no longer exist. SA needs to prepare our children for the fourth industrial revolution, now. Futureproof is proud to introduce the chairman of our board, S’onqoba Maseko. S’onqoba received her Honours Degree from Wits University and is... 

Expropriation without compensation could 'trigger classical banking crisis' – Nedbank

By: African News Agency      7th September 2018 Expropriating property without compensation could "trigger a classical banking crisis", Nedbank chief executive Mike Brown told MPs on Friday. Brown was participating in the last round of public hearings by a parliamentary committee probing whether section 25 of the Constitution needs to be... 

Why a policy expert says S Africa's current phase of chaos is 'normal'

By: News24Wire      7th September 2018 South Africa is currently in a period of chaos – a normal phase to go through after years of neglect, corruption and weak leadership. This is the view of policy specialist Theo Venter of the North West University School of Business and Governance. He was one of the speakers at the Momentum... 

Narrowing divide

By: Martin Zhuwakinyu     31st August 2018 The mobile phone has undergone an almost dramatic transition in the past two decades from a status symbol affordable only by the well-to-do to a ubiquitous device that even those of very modest means now regard as a must-have. The market penetration of this handy invention has been facilitated by... 

Sanbrado financing to be in place by year-end

By: Esmarie Iannucci     29th August 2018 Gold developer West African Resources will secure financing for its 90%-owned Sanbrado gold project, in Burkina Faso, by the fourth quarter of this year, with first gold pour targeted for the back-end of 2020. Speaking at the first day of the Africa Downunder conference, West African MD Richard... 

Uncertainty over land expropriation to deter investment – IHS Markit

By: Marleny Arnoldi     24th August 2018 The threat of land expropriation without compensation (EWC) is likely to deter investment up until the 2019 elections and a while afterwards, says global information provider IHS Markit. “Uncertainty over property rights is likely to deter fixed investment, limit government revenue and lower... 

On-The-Air (17/08/2018) 

By: Martin Creamer     17th August 2018 Yet another huge mine is in serious financial trouble, which is throwing up the dread of more mass retrenchment. South Africa should adopt the growth model that has proved so resoundingly successful for the economy of Canada. The Constitutional Court should be called upon to lift the veil of... 

Leftists rattle rand with plan to nationalise South Africa's SARB

By: Reuters     17th August 2018 Opposition firebrand Julius Malema introduced a bill to nationalise South Africa's central bank, raising pressure on the ruling ANC to go through with a plan it shelved this year and rattling markets wary of threats to the institution's independence. The rand fell more than 1 percent overnight... 

Investors looking for viable infrastructure projects in Africa

By: Donald Makhafola     17th August 2018 There is investor appetite for well-structured infrastructure projects on the continent, but investors need clarity from governments on regulations and the various projects earmarked for development, says specialist banking company Investec Bank head of power and infrastructure finance... 

Metair to deliver its first lithium-ion batteries before the end of the year

By: Irma Venter     16th August 2018 JSE-listed Metair will deliver its first production lithium-ion batteries to a customer before the end of the year. Metair is a distributor and retailer of energy storage solutions and automotive components. 

Lazard drafting plan to bolster Eskom's balance sheet – sources

By: Reuters     14th August 2018 State-owned power firm Eskom has hired financial adviser Lazard to draft a plan to shore up its balance sheet as it struggles to emerge from a financial crisis, two banking sources told Reuters. Cash-strapped Eskom is critical to Africa's most industrialised economy as it supplies more than 90%... 

Rio Tinto considers float of Canadian iron-ore business

By: Reuters     10th August 2018 Rio Tinto, the world's second largest listed mining company, is exploring a public listing of its Iron Ore Company of Canada business, banking and industry sources said, as it focuses on boosting revenue from its flagship Australian assets. Iron-ore, which accounts for most of Rio's profit and... 

ARC to acquire 100% of TymeDigital

By: Anine Kilian     8th August 2018 African Rainbow Capital (ARC), led by chairperson Patrice Motsepe, has reached an agreement to acquire, through its 50.1% held subsidiary, ARC Financial Holding Company (FinHoldCo), 90% of TymeDigital by Commonwealth Bank, for an undisclosed consideration. When concluded, FinHoldCo will own 100%... 

Russia's shield against sanctions draws praise from Moody's

By: Bloomberg     7th August 2018 Russia is ready to absorb the blow from any new sanctions the US throws its way, according to Moody’s Investors Service. Measures to cut down holdings of Treasuries and reduce exposure to the dollar have made the economy less vulnerable to the threat of deeper penalties, Moody’s analyst Kristin... 

Study says gender a challenge for female entrepreneurs in construction 

By: Irma Venter     7th August 2018 Women in the construction and related industries not only face discrimination while working for existing firms, but also when starting their own businesses, says Mercantile Bank. A recent study conducted on behalf of the institution found that 67% of female business owners surveyed in the... 

Old Mutual’s Mutualpark Realises The Shared Value Opportunity Of Recycling Polystyrene

23rd July 2018 Doné Rankin-Rowley, Contracts Manager at Old Mutual's Mutualpark seen here with Adri Spangenberg of the Polystyrene Association, standing in front of large bales of polystyrene ready to be collected and recycled The Polystyrene Association and Mutualpark join forces to increase corporate recycling 

We're doing all we can to end long wait in Home Affairs queues – Gigaba 

By: News24Wire      23rd July 2018 Home Affairs Minister Malusi Gigaba says his department is doing all it can to end the long wait in queues at their various branches across the country. Gigaba was speaking at a media briefing in Pretoria about progress made in the department's "War on Queues" campaign, which he launched in April... 

Chilean miner Mantos Copper seeks buyer to help finance expansion

By: Reuters     6th July 2018 Private equity-backed Chilean miner Mantos Copper is looking to find a buyer to help finance the expansion of mines it bought from Anglo American in 2015, it said. The company's owner, a consortium led by British investment company Audley Capital Advisors and Orion Mine Finance Group, bought... 

Hudaco delivers sound H1 results amid tough trading conditions

By: Simone Liedtke     29th June 2018 With the positive sentiment and economic growth expectations stemming from recent political changes in South Africa, Hudaco Industries continued to deliver sound results in the six months to May 31. Characteristic of this trading environment, however, is the “Ramaphoria” phase, Hudaco CE Graham... 

India's options limited as US mounts pressure to stop oil imports from Iran

By: Ajoy K Das     29th June 2018 With the Trump Administration mounting pressures on India to stop crude oil imports from Iran, the option of part barter and part payment in Indian currency to buy Iranian crude, may not work this time around. Unlike during earlier Western sanctions on Iran, India has devised a mechanism to... 

Shareholders take fight for Russian gold to London's Square Mile

By: Bloomberg     29th June 2018 The bitter battle for gold mines in Russia’s far east is set to take another twist as rebel investors try to sack the leadership of Petropavlovsk. Shareholders will vote on Friday at meeting in a nondescript office block between St Paul’s Cathedral and the Bank of England in London. While the... 

Morocco: it’s fifth time (un)lucky

By: Martin Zhuwakinyu     29th June 2018 The Beautiful Game is obviously the flavour of the month, what with the World Cup currently under way in Russia. So, apologies to those readers of this column who cannot tell the difference between FIFA and Uefa – the focus this week is on matters football once again. Those with more that a... 

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