Business News Archives | Page 8 of 16

South Africa’s Job Market Reveals Surprising Opportunities Amidst Slowdown

Hiring Slowdown Amidst Political Uncertainty: The article highlights a significant 19% year-on-year decline in hiring activity in South Africa, attributing it largely to concerns about political instability following the recent National Election.
In-Demand Job Roles: Despite the overall slowdown, certain job roles continue to experience increased demand, including business analysis, health, safety & environment management, executive management, building project management, and data analysis.
Sector-Specific Insights: The report delves into sector-specific trends, indicating resilience in the building & construction and architecture & engineering sectors, with both witnessing positive hiring activity despite temporary fluctuations. These insights offer valuable implications for the broader South African economy.

South Africa’s Job Market Reveals Surprising Opportunities Amidst Slowdown Read More »

Shell’s Exit from South Africa Unlikely to Trigger Layoffs

Strategic Continuity Amidst Change: Despite Shell’s announcement of its intention to exit its South African operations, industry experts, particularly Peter Morgan, CEO of the Liquid Fuels Wholesalers Association of South Africa, assert that this move is unlikely to precipitate mass job losses or the closure of its petrol stations. Morgan highlights a strategic approach that Shell is poised to adopt, involving the establishment of a smaller sub-brand, Viva, which will allow the company to retain partial ownership of its stations, thus ensuring continuity in its retail network.
Employment Stability Assured: Concerns surrounding potential job losses at Shell’s petrol stations are assuaged by Morgan’s reassurance that the company’s decision does not signal imminent closures. The proposed structure for the Viva sub-brand, with partnering entities holding an 80% ownership stake while Shell retains 20%, underpins a broader trend observed among major oil companies operating in Africa. This model aims to maintain market presence while mitigating disruptions to employment within the industry.
Strategic Business Imperatives: Shell’s decision to divest from its South African retail, transport, and refining operations follows a comprehensive review of its global downstream and renewables portfolio. While the timing of its exit coincides with BHP’s acquisition of Anglo American, a prominent South African mining company, both Shell and BHP affirm that the divestitures are driven by strategic business considerations rather than a reflection of the country’s investment climate. This underscores a broader trend within the energy sector of optimizing operations to align with evolving market dynamics.

Shell’s Exit from South Africa Unlikely to Trigger Layoffs Read More »

Amazon Launches Marketplace in South Africa, Promising Convenience

Business News, News / Miriam Matoma

Convenience for Customers: Amazon’s Marketplace launch in South Africa promises a stress-free shopping experience, with fast delivery, easy returns, and access to a wide range of local and international brands. Customers can enjoy same-day and next-day delivery options, free shipping on first orders, and hassle-free returns via home pickup or self-drop.
Opportunities for Businesses: South African businesses of all sizes can now tap into Amazon’s expansive platform to sell their products. With user-friendly onboarding tools, payment processing solutions, and comprehensive analytics, sellers can optimize their sales strategies and reach a broader audience, both locally and internationally.
Implications for the Retail Landscape: Amazon’s entry into the South African market signifies a significant shift in the retail landscape, driving competition, fostering innovation, and encouraging digital transformation. Traditional retailers are expected to recalibrate their strategies to remain competitive in the evolving marketplace, while stakeholders explore opportunities for collaboration and partnership to enrich the overall shopping experience for consumers.

Amazon Launches Marketplace in South Africa, Promising Convenience Read More »

Shoprite Defies Sector Slump, Emerges as Top Performer

Business News, News / Miriam Matoma

Shoprite stands out as the best-performing JSE-listed food retailer in 2024, despite facing challenges, showcasing its resilience and strategic positioning in the market.
Competitors like Spar, Woolworths, and Pick n Pay have experienced significant declines in share prices and financial performance due to various factors such as operational issues, debt burdens, and economic headwinds.
Shoprite’s ability to sustain market share gains, innovate, and navigate challenges underscores its agility and customer-centric approach, positioning it favorably amidst industry turbulence and reaffirming its status as a stalwart of the retail sector.

Shoprite Defies Sector Slump, Emerges as Top Performer Read More »

Shell Considers Exiting South Africa, Stirring Investment Concerns

Business News, News / Miriam Matoma

Shell’s Potential Exit: The article discusses reports indicating that Shell, a major player in South Africa’s energy sector, is contemplating divesting its majority stake in Shell Downstream South Africa, sparking speculation about its future presence in the country.
Investment Climate Concerns: It highlights broader concerns regarding South Africa’s investment climate, as evidenced by recent developments such as BHP’s bid for Anglo American, and comments from Volkswagen’s CEO about challenges facing the automotive manufacturing sector.
Resilience Amidst Challenges: Despite these challenges, the article underscores continued investor confidence in South Africa, as exemplified by Volkswagen’s recent multi-billion rand investment in its local manufacturing plant and PwC’s research indicating enduring attractions for foreign investors despite structural impediments.

Shell Considers Exiting South Africa, Stirring Investment Concerns Read More »

Eastern Platinum Limited Achieves Record Revenue Growth in 2023, Sets Ambitious Targets for 2024

Business News, Capital Markets, Finance News, Investing News, Stock Market / Lethabo Ntsoane

Eastern Platinum Limited (Eastplats) reported record annual revenue of $106.9 million in 2023, a 98.3% increase over the previous year.
The company’s operational efficiency was evident in significant improvements in mine operating income and net income.
Eastplats outlined ambitious targets for 2024, focusing on resolving outstanding receivables, ramping up operations, and optimizing plant circuits.

Eastern Platinum Limited Achieves Record Revenue Growth in 2023, Sets Ambitious Targets for 2024 Read More »

Canal+ Boosts Stake in MultiChoice Group Limited, Acquiring Over 42% of Shares

Business News, Capital Markets, Finance News, Investing News / Lethabo Ntsoane

Canal+ acquires shares in MultiChoice Group Limited, increasing its stake to approximately 42.47% of issued shares.
Legal and regulatory compliance ensured throughout the acquisition process, with disclosures made to the Takeover Regulation Panel (TRP).
US shareholders advised to consider legal and tax implications, seek guidance from professional advisors regarding Canal+’s acquisitions.

Canal+ Boosts Stake in MultiChoice Group Limited, Acquiring Over 42% of Shares Read More »

CFO Departure Shakes Sasol: Rossouw Resigns, Transition Plan Initiated

Business News, Capital Markets, Finance News, Investing News, Stock Market / Lethabo Ntsoane

Resignation of CFO: Mr. Hanré Rossouw steps down as Sasol Limited’s Chief Financial Officer and executive director by October 31, 2024.
Acknowledgment and Transition: Sasol acknowledges Mr. Rossouw’s contributions and plans a structured transition period for the new CFO.
Market Implications: Investors monitor Sasol’s financial performance and leadership changes, anticipating market reactions amidst the CFO resignation.

CFO Departure Shakes Sasol: Rossouw Resigns, Transition Plan Initiated Read More »

Frontier Transport Holdings Limited Welcomes Nqobani Mkhwanazi as Independent Non-Executive Director

Business News, Capital Markets, Finance News, Investing News, Stock Market / Lethabo Ntsoane

Frontier Transport Holdings Limited appointed Mrs. Nqobani Mkhwanazi as an independent non-executive director.
Mrs. Mkhwanazi brings extensive experience in finance, property development, and investment management to her new role.
The appointment is expected to strengthen governance practices, drive strategic initiatives, and contribute to company growth.

Frontier Transport Holdings Limited Welcomes Nqobani Mkhwanazi as Independent Non-Executive Director Read More »

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.

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