Southern Palladium’s Bengwenyama Project Hits Financial Milestone with US$700M NPV and 21% IRR

Business News, Capital Markets, Investing News, Stock Market /
  • Southern Palladium’s Bengwenyama project showcases strong financial viability with an NPV of US$700 million and an IRR of 21%.
  • The company’s leadership, including the appointment of Mr. Roger Baxter as Non-Executive Chairman, signifies strategic governance enhancements.
  • Environmental sustainability remains a priority, evidenced by ongoing Environmental Impact Assessment (EIA) efforts for the Bengwenyama project.

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Petrol Price Hike

South African Motorists Face Impending Petrol Price Hike

Energy, Government, News /
  • 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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Cashbuild Limited Welcomes Hanré Bester as New CFO

Business News, Capital Markets, Investing News, Stock Market /
  • Cashbuild Limited appoints Hanré Bester as Chief Financial Officer, enhancing financial leadership and governance.
  • Hanré Bester’s background in finance, taxation expertise, and strategic insights are assets for Cashbuild.
  • Expectations are high for Bester’s impact on financial operations, compliance, and driving growth at Cashbuild.

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The Film and Publications Board (FPB)

FPB Backtracks: Controversial Online Misinformation Regulation Notice Withdrawn

Lifestyle, News /
  • FPB Notice Withdrawn: The Film and Publications Board (FPB) has retracted a notice aimed at penalizing internet users and service providers for spreading misinformation online in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 Mine

Sibanye Stillwater CEO Urges New Business-Friendly Leadership in Mining

Government, News /
  • 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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Cannabis Hub

Landmark Court Ruling Protects Employee Privacy in Cannabis Use

Business News, News /
  • 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

Government, News, Technology /
  • 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

Business News, Capital Markets, Finance News, Investing News, Stock Market /
  • 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

Business News, News /
  • 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

News, Technology /
  • 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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