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RMB assists in complex deal between Metier, sea cable recycler

By: Marleny Arnoldi 17th September 2024 Rand Merchant Bank (RMB) has provided transaction support to private equity firm Metier towards acquiring Mertech Marine. Through its Sustainable Capital Fund II, Metier is focused on investing in sustainable and resource-efficient infrastructure in Africa. →

ARC Investments increases INAV a share by 8.5% on new investments, fair value gains

By: Schalk Burger 16th September 2024 JSE-listed investment holding company African Rainbow Capital (ARC) Investments increased its intrinsic net asset value (INAV) per share by 8.5% to R12.38 a share during its financial year to the end of June 2024 owing to new investments and net fair value gains. The group's INAV increased by... →

SAB reiterates calls for revised approach to excessive beer excise tax increases

By: Darren Parker 16th September 2024 Government is disproportionately reliant on the beer-making industry for excise duties, which accounted for 34.7% of total excise revenues in the 2023/24 financial year, JSE-listed beer maker South African Breweries (SAB) has said. Over the past few years, the company has made repeated appeals to... →

BRICS Business Council working groups offer updates on work in the year-to-date

By: Darren Parker 13th September 2024 The BRICS Business Council has provided an update on its work thus far this year, reflecting on progress made and the challenges posed by the inclusion of Egypt, Ethiopia, Iran and the United Arab Emirates into the BRICS Plus alliance in January. The council’s working groups have been... →

South African businesses remain resilient despite challenges

By: Sabrina Jardim 13th September 2024 Despite economic challenges, South African businesses have remained resilient and innovative, panellists said during this year’s Inn8 Invest Summit, held on September 12. Noting an improved sense of optimism and sentiment following the elections in May, the CEO panel discussed the complexities of... →

Restructuring to bring an end to Land Bank's debt default position

By: Schalk Burger 9th September 2024 State-owned agricultural finance institution the Land Bank has concluded a debt restructuring solution with all its lenders, which will take effect on September 16, and effectively end its debt default position. Government provided R10-billion to stabilise the bank and alleviate the contingent... →

Finance Minister Enoch Godongwana

Competitive energy sector drives innovation

By: Nadine Ramdass 6th September 2024 The competitive landscape for utility-scale renewable energy has significantly changed over the past decade, with developers driving more aggressive funding terms to remain competitive, says financial institution Standard Bank power head Rentia van Tonder. The shift in the competitive landscape... →

An image of Standard Bank power head Rentia van Tonder

RENTIA VAN TONDER Financing solutions need to be innovative and adaptable

IFC, Proparco, DEG and DFC provide finance to Aspen for medicine, vaccine production

By: Tasneem Bulbulia 3rd September 2024 The International Finance Corporation (IFC), Proparco, the German Development Finance Institution (DEG) and the US International Development Finance Corporation (DFC) have announced a joint financing package for pharmaceuticals company Aspen Pharmacare to support the production and distribution... →

Aspen group CE Stephen Saad

FSCA approves JSE’s plans to divide its main board into two segments

By: Darren Parker 3rd September 2024 The Financial Sector Conduct Authority (FSCA) has approved amendments to the JSE’s listings requirements dealing with market segmentation, which will come into effect on September 23. The market segmentation project repositions the JSE’s main board into two segments, the prime and the general... →

DBSA approves $200m for Lobito Corridor Railway project

By: Tasneem Bulbulia 3rd September 2024 Development finance institution the Development Bank of Southern Africa (DBSA) has, alongside the US International Development Finance Corporation (DFC), approved funding of up to $200-million towards the Lobito Corridor Railway project, in Angola. The funding will support the construction and... →

Panel ponders considerations, challenges of adapting personal income tax, fiscal system

By: Tasneem Bulbulia 30th August 2024 While progressive reforms have been made to South Africa’s personal income tax (PIT) system since the advent of democracy, the potential to bolster this further with the aim of increasing revenue collection and income redistribution entails several considerations. This was outlined by speakers... →

M&R reaches debt repayment agreement with banking consortium

By: Darren Parker 30th August 2024 JSE-listed Murray & Roberts (M&R) has reached an agreement with a consortium of South African banks to repay R409-million in debt. The debt, which peaked at about R2-billion in April 2023, has been significantly reduced through a deleveraging plan agreed upon by the company and the consortium. A... →

South Africa’s scrap recycling lags behind global trends

By: Halima Frost 30th August 2024 It is undeniable that aluminium is one of the most recyclable materials in circulation globally, with about 75% of the total 1.5-billion metric tonnes of aluminium generated to date still in use, says industry representative organisation Aluminium Federation South Africa CEO Muzi Manzi. He adds... →

CAN DO ATTITUDE A positive perspective to South Africa's aluminium recycling capabilities needs to be attained to compete globally

MTN Group Fintech, Bayobab announce new appointments to their boards

By: Natasha Odendaal 28th August 2024 MTN Group has appointed four nonexecutive directors to the boards of its MTN Group Fintech and Bayobab businesses. Appointed to the board of MTN Group Fintech is Herman Bosman as independent chairperson, effective July 1, as well as Nicky Newton-King and Nosipho Molope as independent nonexecutive... →

Cape Town secures additional R2.8bn in infrastructure finance

By: Irma Venter 26th August 2024 The City of Cape Town has secured R2.8-billion in infrastructure funding from the International Finance Corporation (IFC). Cape Town aims to spend R39.5-billion on infrastructure from July this year to June 2027. →

Cape Town

Embracing diversity an ironclad requirement

By: Lumkile Nkomfe 23rd August 2024 To overcome gender-biased stereotypes and preconceptions in the workplace, concerted efforts to embrace diversity and inclusion should be a non-negotiable hallmark of corporate strategy, highlights international banking group Standard Chartered Africa and Middle East financing and securities... →

MARIA JENNER The financial services industry has a responsibility to serve a highly diverse society, which can only be done through it having a diverse workforce

Women’s participation key to economic growth – investment firm

By: Lumkile Nkomfe 23rd August 2024 Efforts to facilitate the greater participation of women in key sectors of the economy, such as the transport sector, are viewed with the utmost importance by women-led investment firm Identity Partners. The impetus for developing this business, established in 2008, was the desire to increase... →

SONJA DE BRUYN Infrastructure projects and partnerships can be integral to enhancing equality, in addition to safe and effective transport infrastructure's facilitating the movement of women, and therefore, assisting in their participation in economic activity

Identity Partners co-founder and principal partner Sonja De Bruyn discussing the significant roles that women play in industry

Santam relooks farm insurance ratings ahead of potential La Niña hail

By: Marleny Arnoldi 19th August 2024 As South Africa heads into a La Niña season, which brings about more rainstorms in the country, insurance provider Santam is revisiting its ratings for insurance related to the perils associated with the phenomenon. Santam says there has been a significant rise in the occurrence of frost and... →

Sustainable SME funding platform seeks to grow circular economy

By: Schalk Burger 16th August 2024 Green small business funding digital platform Hloolo aims to close the gap between the funding needs of green and sustainable small and medium-sized enterprises (SMEs) and green finance available from investors wanting to make a positive impact on society, climate change and the environment.... →

Fetola founder and CEO Catherine Wijnberg

Vista completes acquisition of Banco SocGen Moçambique

By: Schalk Burger 8th August 2024 Financial services firm Vista Group has completed its acquisition of 100% of Banco Société Générale Moçambique, which has eight branches and will be renamed Vista Bank Moçambique. The acquisition will further expands Vista's presence in Africa. →

AIIM's final close of infrastructure-focused AIIF4 fund exceeds $748m target

By: Schalk Burger 6th August 2024 Infrastructure equity management company African Infrastructure Investment Managers (AIIM) has achieved the final close of its fourth pan-African infrastructure fund African Infrastructure Investment Fund 4 (AIIF4). The fund raised $748-million from a diverse investor base across Africa, Europe,... →

Africa Finance Corporation welcomes DRC bank as its latest equity investor

By: Rebecca Campbell 6th August 2024 African infrastructure development funder, the Africa Finance Corporation (AFC), on Tuesday announced that it had received a new equity investment from Democratic Republic of Congo (DRC) bank and financial group Rawbank. The AFC’s shareholders include African governments, banks, pension funds and... →

Financial literacy unlocks financial security, economic mobility – FSCA exec

By: Schalk Burger 6th August 2024 The fifth Money Smart Week South Africa will provide free financial education, as financial literacy unlocks economic mobility and enables people to achieve financial stability and secure their financial futures, says regulator Financial Sector Conduct Authority (FSCA) Conduct of Business... →

Scatec sells part of Kalkbult, Linde, Dreunberg plants to Stanlib subsidiary

By: Tasneem Bulbulia 2nd August 2024 Renewable energy company Scatec on August 2 signed an agreement with Stanlib Infrastructure Fund II subsidiary, Greenstreet 1, to sell part of its ownership in the Kalkbult, Linde and Dreunberg solar power plants, with a total capacity of 190 MW, for a gross consideration of R921-million.... →

Kalkbult solar plant

JSE imposes censure, fine on Eskom for failure to comply with debt listing requirements

By: Tasneem Bulbulia 2nd August 2024 The JSE has imposed a public censure and a fine of R3-million on State-owned utility Eskom over its failure to comply timeously with stipulations of the debt listings requirements (DLRs). Eskom is listed on the JSE as an issuer of debt securities and, therefore, has a continuing obligation to... →

Photo by Bloomberg
The JSE has imposed a public censure and a fine of R3-million on State-owned utility Eskom

Infrastructure refurbishment investment alone could provide R100bn/y manufacturing stimulus

By: Darren Parker 31st July 2024 South Africa’s decaying water, electricity and logistics infrastructure presents a R100-billion a year repair and refurbishment investment opportunity that could provide much-needed stimulus for the declining manufacturing sector, Steel and Engineering Industries Federation of Southern Africa COO... →

Infrastructure refurbishment investment alone could provide R100bn/y manufacturing stimulus

Investment group and startup accelerator partner to support black-women-owned startups

By: Rebecca Campbell 30th July 2024 Entirely black-owned broad-based investment holding company, the Mineworkers Investment Company (MIC), and Cape Town-based specialist startup accelerator company Grindstone, have entered into a partnership to fund and accelerate four black-women-owned startups. This support will be delivered... →

National Treasury welcomes signing of Pension Funds Amendment Act into law

By: Darren Parker 30th July 2024 National Treasury has voiced its approval of the Pension Funds Amendment Act being signed into law by the President Cyril Ramaphosa last week. This signals the last part of the significant amendments required to implement the two-pot system, which will start on September 1 after proclamation by... →

Standard Bank commits $1m to AU Peace Fund

By: Schalk Burger 24th July 2024 Financial services firm Standard Bank has signed an agreement to make a total $1-million contribution over the next five years to the African Union Peace Fund (AUPF) to help the AU in its resource mobilisation efforts for peace across the continent, says Standard Bank Africa regions CE Yinka... →

Standard Bank Africa regions CE Yinka Sanni

World Bank Group leadership highlights progress, reaffirms support for South Africa, Namibia

By: Tasneem Bulbulia 24th July 2024 A delegation of the World Bank Group’s (WBG’s) board of executive directors (EDs) has noted South Africa’s and Namibia’s progress in achieving their development goals and has reaffirmed the bank’s commitment to providing support to the two countries. The 11 EDs and alternate EDs were hosted by... →

Preference Capital launches Merchant Cash Advance loan product

By: Schalk Burger 23rd July 2024 Specialist owner-managed businesses financial services firm Preference Capital, under its Cash Flow Capital brand, has launched the Merchant Cash Advance loan product, which offers a quick and flexible short-term capital injection. The product allows merchants to seize opportunities when they... →

Ramaphosa assents to National Small Enterprise Amendment Bill

By: Schalk Burger 23rd July 2024 President Cyril Ramaphosa has signed the National Small Enterprise Amendment Bill to establish a new entity – the Small Enterprise Development Finance Agency – which will incorporate the Small Enterprise Development Finance Agency (Sefa), the Small Enterprise Development Agency (Seda) and the... →

Africa Impact Investment Awards recognise the power of catalytic capital

By: Schalk Burger 23rd July 2024 The 2024 Africa Impact Investment Awards, held in Nairobi, Kenya, celebrated the contributions made to the burgeoning impact investment sector across Africa by showcasing exemplary achievements in driving sustainable and inclusive growth. It is exciting to see the power of catalytic capital... →

Krutham executive chairperson Dr Stuart Theobald

Sars encourages use of digital platforms this filing season

By: Sabrina Jardim 16th July 2024 South African Revenue Service (Sars) Commissioner Edward Kieswetter on July 16 thanked those taxpayers who have interacted with the service over the past two weeks. This includes those who were part of the Individual Tax Filing Season 2024 that started on July 15 and will run until October 21 and... →

Sasfin offers minorities 65% premium for shares, plans delisting

By: Bloomberg 15th July 2024 Sasfin Holdings made an offer to minority shareholders that values the South African financial-services company at R969-million and plans to delist from the JSE as it refocuses its business. The company offered minorities 30 rand a share, a 65% premium to the 30-day volume-weighted average, it... →

BankservAfrica, UnionPay International collaborate on safer e-commerce in Africa

By: Schalk Burger 9th July 2024 Financial markets infrastructure provider BankservAfrica and payment services company UnionPay International (UPI) are collaborating to facilitate easier and safer e-commerce transactions for UPI cardholders across Africa’s online merchants. The companies will introduce UPI e-commerce acceptance... →

TymeBank appoints new CEO

By: Creamer Media Reporter 8th July 2024 Digital bank TymeBank has announced the appointment of Karl Westvig as its new CEO. The bank’s current CEO Coenraad Jonker will turn his full attention to his role as executive chairperson of Tyme Group, where he will drive the growth of the multicountry digital banking group. The changes are... →

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