ZIM-SA Business Women to sign R13 million energy deal

By Zakithi Mzwakhe A South African based women’s investment Initiative Black Women in Business Forum (BWBF) has agreed to sign an investment deal with Zimbabwe’s Leading Business Women’s Association (LBWA). The investment deal is set to unlock funding for various entities owned and by women in Zimbabwe. Addressing a press conference at Sandton Convention Centre on Monday, 11 June, BWBF spokesperson, Lerato Matsatsi revealed that they have already concluded the first stage towards the signing of the R13 million fuel deal with their Zimbabwean counterparts. “South African business women share…

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Better days for Zimbabwe are just around the corner: Brainworks

Brainworks

The political situation in Zimbabwe is looking promising, that country’s only JSE-listed company told investors on Friday – but actual investment inflows will probably come only after elections due in August 2018. And it is not keen to list on the Zimbabwe Stock Exchange (ZSE) before that. Brainworks became the first Zimbabwean company with a primary listing on the JSE in October 2017. It owns African Sun, which operates well-known hotel brands such as the Victoria Falls Hotel. It is something of an indicator of South African sentiment towards Zimbabwe.…

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Developments around allegations levelled at Resilient

Resilient

WARREN THOMPSON: There has been a lot of news, with conjecture, allegations and accusations regarding what exactly is transpiring, certainly with some of the share trading in the Resilient stable. A little earlier this afternoon I asked our in-house listed-property journalist Ray Mahlaka to give us an update as to what has happened, given that we were expecting the report into the independent review conducted by the auditor-general, Mr Fakie, to come out, with Resilient saying they needed a little bit of time there. Mr Fakie is now going to…

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Zimbabwe’s top platinum miner warns listing rule to backfire

Johan Theron

Zimbabwe’s proposals to compel miners to list the majority of their shares on the local exchange will strangle companies’ ability to invest and grow, according to the country’s biggest producer of platinum. Impala Platinum sees little interest in a listing among local investors, said Johan Theron, a spokesman for the company whose Zimplats unit is Zimbabwe’s biggest platinum producer. Investors in the country can already trade Zimplats shares listed on the Australian Securities Exchange, he said. Politicians are debating the proposals in a bill that would also require companies to…

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Nissan eyes bigger east African market with Kenya auto plant

Nissan Motor Co

Nissan Motor Co. plans to start assembling vehicles in Kenya, bolstering government plans to develop a regional auto-manufacturing hub in East Africa’s biggest economy. The Japanese automaker is the latest to target Kenya after Volkswagen AG, PSA Peugeot and CNH Industrial NV announced plans for assembly lines in the past 18 months. The facilities could cut new-vehicle costs to customers in some of the continent’s fastest-growing economies, where vehicle ownership per thousand people is about a quarter of the global average. Outside of South Africa, there isn’t much automotive manufacturing…

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Ramaphosa’s to do list

Cyril Ramaphosa

South Africa’s new President, Cyril Ramaphosa, seems to have a lot going for him. His early new broom sweeps clean gestures have been incisive and the market indicators are responding well. A plethora of good news has come his way in the weeks since he was sworn in. The rand has remained strong, and with it the steadying of the inflation rate – at 4% the lowest it’s been in three years. This in turn allowed the South African Reserve Bank to cut interest rates by 25 basis points. Few…

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De Beers, Botswana to dig deeper at world’s richest diamond mine

De Beers

Debswana, the joint venture between Anglo American De Beers unit and Botswana’s government, is seeking permission to deepen the Jwaneng mine to 830 meters, according to a notice published in local newspapers Thursday. The Cut 9 project will extend the mine’s life by 11 years, to 2035, and allow the extraction of a further 50 million carats. Jwaneng, which started full operations in 1982, is the world’s largest diamond producer by value and currently 650 meters deep. Cut 9 will involve stripping away waste at the bottom of the mine,…

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Porsche sales in SA have rocketed – and an even bigger bump is expected

Porsche

A whopping 141 new Porsche vehicles were sold in March, a 61% increase from the month before, and 22% more than a year ago. According to the latest numbers from the National Association of Automobile Manufacturers of South Africa (Naamsa), overall new vehicles sales increased by only 1.1% over the past year. An average Porsche sells for just over R1 million in South Africa. Naamsa reported that 33 Cayman/Boxer, 19 Macan, 47 991, 11 Panamera, and 31 Cayenne models were sold in March. Most were sold by Porsche’s Johannesburg dealership.…

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SA entrepreneur is helping to build a ‘Tesla killer’car powered by the sun

The Dutch-owned company Lightyear has much in common with Tesla. Both want to revolutionise the automotive industry with vehicles that don’t run on petrol. Both also have founders from Pretoria. In Tesla’s case, Elon Musk attended Pretoria Boys High. Qurein Biewenga, Lightyear’s co-founder, went to Hoërskool Waterkloof. Lightyear has been making waves with its plans for a four-wheel-drive luxury sedan that will be powered by the sun, named the Lightyear One. “We are making an electric car that charges itself,” the 26-year-old Biewenga told Business Insider SA. See also: This…

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Rand eases as risk appetite ebbs

South Africa’s rand weakened against the dollar early on Thursday, reflecting a cautious mood in emerging markets due to lingering fears of a global trade war. At 0631 GMT, the rand was at 11.9000 per dollar, 0.25% weaker than its overnight close of 11.8700. Rand eases as risk appetite ebbs USDZARUSDZAR08:0012:0016:0020:005. Apr04:0011.8611.8811.911.9211.9411.96Wednesday, Apr 4, 15:15● USDZAR: 11.8741Highcharts.com 4/5/2018, 6:15:00 AM Technical and momentum indicators suggested the rand was slightly oversold in the past few sessions, losing more than 1% in value against the greenback since March 29, as the trade tiff between…

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