Miriam Matoma, Author at Rateweb

GoSolr, Backed by Billionaire Patrice Motsepe, to Revolutionize Solar Rentals

Energy, News / Miriam Matoma

GoSolr’s Ambitious Investment: Backed by billionaire Patrice Motsepe and Standard Bank Group, GoSolr plans to invest R10 billion in rolling out a groundbreaking model of renting solar panels and batteries to South African homes, aiming to alleviate the nation’s chronic blackouts and soaring electricity prices.
Scaling Solar Generation Capacity: With a goal to install 500 megawatts of solar-generation capacity within four years, GoSolr seeks to capitalize on the growing demand for renewable energy solutions in South Africa, leveraging its substantial investment and financing to become a key player in the country’s renewable energy sector.
Democratizing Solar Access: GoSolr’s subscription service targets approximately 2.2 million households earning more than R360,000 per year, offering an affordable alternative to traditional rent-to-buy models and self-installed solar systems. By making solar energy accessible and affordable, GoSolr aims to drive widespread adoption of clean, renewable power while reducing dependence on the national grid.

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Transnet’s Progress Falls Short of Targets Despite Revenue Growth

Government, News / Miriam Matoma

Transnet’s Improvements: The article highlights Transnet’s recent uptick in railway and port volumes, along with increased revenue, signaling progress in the company’s recovery efforts.
Shortfall in Targets: Despite the improvements, Transnet falls slightly short of its self-set recovery goals, with figures approximately 1-2% below expectations, reflecting ongoing challenges.
Emphasis on Reform and Private Sector Involvement: Transnet’s recovery plan focuses on structural reforms, particularly in rail and port operations, with an emphasis on attracting private sector participation to enhance efficiency and financial performance.

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South Africans Hit by Hefty Fuel Tax Increase Impact

Energy, News / Miriam Matoma

Tax Burden at the Pump: South Africans face a significant increase in fuel costs due to a combination of new fuel price hikes and ongoing tax increases. Taxes now make up a substantial portion of the retail price of petrol, with motorists paying an average of R320 in taxes every time they fill up.
Monthly Tax Contributions: Analysis of Discovery Bank’s data reveals the monthly tax contributions of South African drivers, highlighting the financial strain faced by households. Popular car models’ tax contributions per 100km traveled underscore the impact on everyday consumers.
Price Adjustments and Factors: The Department of Energy’s latest fuel price adjustments show increases in petrol prices and decreases in diesel prices, influenced by international petroleum costs and fluctuations in the rand/dollar exchange rate. Inland and coastal price differentials further compound the financial strain on consumers.

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Father of Black Business, Dr. Samuel Motsuenyane, Dies at 97

Business News, News / Miriam Matoma

Dr. Samuel Motsuenyane, renowned as the “Father of Black Business,” passed away at the age of 97, leaving behind a profound impact on South Africa’s business landscape.
His legacy includes co-founding the National African Federated Chamber of Commerce and Industry (Nafcoc) in 1964, and spearheading the establishment of African Bank in 1975 to address the financial barriers faced by Black individuals.
Dr. Motsuenyane’s contributions extended beyond business, encompassing roles in politics and diplomacy, earning accolades from across the nation, including tributes from President Cyril Ramaphosa, who highlighted his enduring influence on South Africa’s socio-economic fabric.

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South African Motorists Face Impending Petrol Price Hike

Energy, Government, News / Miriam Matoma

Petrol Price Surge: South African motorists are bracing for a significant increase in petrol prices due to a substantial under-recovery, despite a slight retreat in global oil prices.
Global Market Dynamics: Global crude prices remain buoyant, driven by concerns over tightening supplies and geopolitical tensions, contributing to the impending petrol price hike.
Rand’s Impact: The rand’s depreciation against the dollar has exacerbated the under-recovery in petrol prices, with market volatility and uncertainty surrounding interest rate cuts further complicating the economic landscape for South African consumers.

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FPB Backtracks: Controversial Online Misinformation Regulation Notice Withdrawn

Lifestyle, News / Miriam Matoma

FPB Notice Withdrawn: The Film and Publications Board (FPB) has retracted a notice aimed at penalizing internet users and service providers for spreading misinformation online in South Africa.
Public Backlash: The notice sparked immediate push-back from media watchdogs and advocacy groups, who raised concerns about its broad definition of misinformation and potential infringement on freedom of expression.
Victory for Free Expression: The FPB’s decision to withdraw the notice comes amidst mounting pressure from civil society, signaling a win for digital rights advocates and highlighting the importance of transparent, inclusive policymaking processes in regulating online content.

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Sibanye Stillwater CEO Urges New Business-Friendly Leadership in Mining

Government, News / Miriam Matoma

Call for Business-Friendly Leadership: Sibanye Stillwater CEO Neal Froneman emphasizes the urgent need for new leadership in South Africa that fosters a business-friendly environment, crucial for attracting investment and revitalizing the mining industry.
Challenges Facing the Mining Sector: Froneman highlights the existential threat looming over the South African mining industry, exacerbated by regulatory uncertainties, persistent threats of expropriation, and declining investor confidence, leading to job cuts and operational pressures.
Optimism Amidst Adversity: Despite significant losses and market challenges, Froneman remains cautiously optimistic about the future of the platinum group metals (PGMs) sector, anticipating a turnaround fueled by potential interest rate cuts and increased demand for internal combustion engine (ICE) vehicles.

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Landmark Court Ruling Protects Employee Privacy in Cannabis Use

Business News, News / Miriam Matoma

Legal Precedent Established: The Labour Appeal Court’s decision in the case of Bernadette Enever v Barloworld Equipment South Africa sets a precedent by affirming an employee’s right to privacy and dignity regarding cannabis use, challenging the blanket enforcement of zero-tolerance policies in the workplace.
Balancing Rights and Safety: The ruling highlights the need for employers to strike a delicate balance between maintaining a safe working environment and respecting employees’ privacy rights. It emphasizes the importance of evidence-based policies that consider impairment and job-related risks rather than solely relying on drug test results.
Implications for Employers: Employers are urged to review and revise their substance abuse policies to align with legal standards and evolving societal attitudes towards cannabis. The decision underscores the necessity for nuanced approaches that tailor policies to the specific nature of work and potential risks associated with impairment.

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MTN MoMo to Revolutionize Payments with PayShap Partnership

Government, News, Technology / Miriam Matoma

Partnership for Progress: MTN SA collaborates with Investec to introduce PayShap, a real-time payment service, to its MoMo platform, marking a significant step towards transforming the mobile payment landscape in South Africa.
Financial Inclusivity: The integration of PayShap into the MoMo platform aims to serve the unbanked population by providing accessible and low-fee mobile banking services, emphasizing MTN’s commitment to fostering financial inclusion.
Innovative Collaboration: With Investec as the banking sponsor and Electrum providing technical expertise, the partnership draws inspiration from successful global models, heralding a future where digital payments revolutionize financial accessibility and efficiency in South Africa.

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Clicks Group Surges Despite Challenges, Plans 50 Store Expansion

Business News, News / Miriam Matoma

Strong Financial Performance: Clicks Group reported a substantial 13.5% increase in operating profit in its latest interim results, driven by heightened demand in beauty and personal care segments. The company’s robust growth was further supported by the successful integration of recent acquisitions and the expansion of its Clicks ClubCard loyalty program.
Expansion Plans: Undeterred by the challenging operating environment, Clicks Group outlined ambitious plans to open over 50 new stores during the current financial year, in addition to expanding its pharmacy network. A significant capital investment of R920 million is earmarked for new store openings, refurbishments, and sustainability initiatives, highlighting the company’s commitment to strategic growth.
Outlook and Risks: Despite its strong performance, Clicks Group remains cautious amidst prevailing economic challenges in South Africa. The company anticipates subdued consumer spending due to inflationary pressures, compounded by potential disruptions associated with the upcoming national election and electricity challenges. However, with a steadfast focus on driving sustainable growth and delivering value to shareholders, Clicks Group remains optimistic about its outlook for the fiscal year.

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