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Cannabis Hub

Landmark Court Ruling Protects Employee Privacy in Cannabis Use

  • 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

MTN MoMo to Revolutionize Payments with PayShap Partnership

  • 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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Coal mining

MC Mining Limited’s Leadership Transition and Financial Revitalization Spark Industry Attention

  • MC Mining Limited, previously Coal of Africa Limited, underwent a leadership change with Mr. Nhlanhla Nene’s resignation as Chairman.
  • Challenges during the pandemic led to financial restructuring, including a rights issue that revitalized key coal projects.
  • The company’s strategic realignment and enhanced stakeholder value position MC Mining for sustained growth and success.

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Plans 50 Store Expansion

Clicks Group Surges Despite Challenges, Plans 50 Store Expansion

  • 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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Robotics, Coding Mission

Khathola Empowers Southern African Youth with Robotics, Coding Mission

  • Thobo Khathola embarked on a mission in 2015 to uplift Southern African youth by providing them with robotics and coding education.
  • Despite starting from modest beginnings as a university tutor operating from his car’s boot, Khathola’s passion and determination have driven him to empower countless young minds.
  • Through innovative education initiatives, Khathola is bridging the digital divide, instilling essential skills, and fostering a culture of innovation and entrepreneurship among Southern African youth.

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Clicks Group Delivers Robust Financial Performance in Challenging Market Conditions, Forecasts Growth Ahead

  • Clicks Group’s interim results demonstrate strong financial growth and resilience in a challenging market environment.
  • Key highlights include increased turnover, margin expansion, and strategic initiatives for future growth and profitability.
  • The company’s commitment to shareholders is evident through higher dividends and a positive outlook for earnings growth.

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Satrix JSE

Copper 360 Limited Takes Legal Action Amid Share Price Plunge

  • Copper 360 Limited faces suspected market manipulation due to unusual trades, leading to price drops and legal inquiries.
  • The company takes legal steps, requesting investigations by the FSCA and initiating an inquiry under the Companies Act.
  • Potential consequences include loss recovery, criminal charges, and implications for investors, regulators, and market integrity.

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Trustco Group Holdings Expands Portfolio with Strategic Acquisition of Legal Shield Holdings

  • Trustco Group Holdings Limited acquires additional interest in Legal Shield Holdings Limited, signaling strategic expansion.
  • The acquisition aims to increase net asset value, benefit from post-Covid capital growth, and simplify investment portfolios.
  • Legal Shield Holdings’ financial performance and land portfolio contribute significantly to Trustco’s growth strategy.

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Mondi plc Declares Strong Dividend Payouts for Shareholders Worldwide

  • Mondi plc achieved revenues of โ‚ฌ7.3 billion and underlying EBITDA of โ‚ฌ1.2 billion in 2023, showcasing strong financial performance.
  • The final dividend payout of 46.67 euro cents per ordinary share for 2023 reflects Mondi’s commitment to shareholder value.
  • Shareholders in the UK will receive the dividend in sterling, while South African shareholders will receive it in rand cents.

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Hulamin’s Equity-Settled Share Awards Drive Growth and Confidence

  • Hulamin Limited’s Equity-Settled Conditional Share Plan aligns executive compensation with long-term shareholder value creation, fostering sustainable growth.
  • Recent awards of Performance Shares and Bonus Shares to directors and key executives demonstrate confidence in the company’s prospects.
  • Adherence to regulatory requirements and a culture of performance-based rewards underpin Hulamin’s commitment to transparency and good governance.

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