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Roy Havemann appointed Intellidex South Africa CEO

By: Schalk Burger 22nd March 2023 Research and consulting firm Intellidex has appointed Dr Roy Havemann as CEO of its South African business. He will work with Intellidex’s client base of institutional investors, banks, corporates and market infrastructure providers, as well as domestic and international bodies on policy... →

ARC’s portfolio resilient amid challenging macroeconomic environment

By: Marleny Arnoldi 17th March 2023 JSE-listed African Rainbow Capital (ARC) says its diverse investment portfolio has shown remarkable resilience in what was challenging macroeconomic conditions for all the firms it is invested in, in the six months ended December 31, 2022. ARC’s intrinsic investment value in the African Rainbow... →

Expo advances export potential of food sector

17th March 2023 South African Fruit and Vegetables Canners Export Council (SAFVEC) GM Jill Atwood-Palm says the Gulfood Exhibition that took place in Dubai, in the United Arab Emirates (UAE), from February 20 to 24, provided South African companies with an opportunity to increase exports globally. SAFVEC was... →

Aluminum food cans opened up to display their contents, which are baked beans beans, peas, mushrooms, corn, peppers and kidney beans

NO SUCH THING AS CAN'T South African Fruit and Vegetables Canners Export Council says the Gulfood expo can hold great potential for South African food exporters

Initiative sets out to improve tavern experience

By: Halima Frost 17th March 2023 Earlier this month, multinational brewing company Heineken South Africa spearheaded the launch of an initiative, Taverns of the Future, at The Spot 1818 in Phiri, Soweto. The Spot 1818 is one of the taverns to benefit from the initiative. →

A red carpet leading up to a newly revamped Tavern, The Spot 1818, in Soweto, as part of Heineken South Africa's Taverns of the Future initiative

RED CARPET TO THE FUTURE The Taverns of the Future initiative was officially launched earlier this month by Heineken South Africa and its partners

Transmission infrastructure should also be privatised, investment firm argues

By: Darren Parker 16th March 2023 While electricity generation capacity in South Africa is increasingly being privatised and decentralised, the government has stated that transmission infrastructure must remain in the hands of the public sector to ensure equal access. However, uncertainty remains regarding whether the government... →

NBI appoints new CEO

By: Darren Parker 16th March 2023 The National Business Initiative (NBI) has appointed Shameela Soobramoney CEO. She was previously chief sustainability officer and group strategist at the JSE. →

Massmart, RCS offer retail customers solar funding loans

By: Schalk Burger 15th March 2023 Mass retailer Massmart, in partnership with consumer finance company Retail Credit Solutions (RCS), has introduced a solar energy funding solution in the form of a loan of up to R250 000 for customers wanting to invest in alternative energy sources to cope with loadshedding. Massmart offers... →

African financial institutions will continue to fund fossil fuel projects on the continent

By: Rebecca Campbell 14th March 2023 While Africa is part of the global transition to low carbon energy, the consumption of oil and gas on the continent will increase, at least in the short term. So observed Standard Bank executive energy & infrastructure coverage: East Africa Maina Kigundu at the African Refiners and Distributors... →

PayShap payment system aimed at reducing the need for using cash

By: Schalk Burger 13th March 2023 South Africans can now make free real-time payments of up to R3 000 between bank accounts using the PayShap free payment system introduced by regulator the South African Reserve Bank (SARB) and the financial services industry. The new PayShap real-time payment service enables users to pay or send... →

SARB deputy governor and Prudential Authority CEO Fundi Tshazibana

Township rental financier finalises first funding vehicle, attracts R125m in first year

By: Donna Slater 13th March 2023 Impact-driven property finance company TUHF21 has finalised its first funding vehicle aimed at financing rental properties in townships – the uMaStandi Fund – which has attracted R125-million in funding from new sources in its first year of operations. uMaStandi provides financing in townships –... →

JSE opens virtual trading floors for investment challenge

By: Darren Parker 13th March 2023 Virtual trading floors for the JSE’s flagship financial literacy programme – the JSE Investment Challenge – have officially opened as the competition marks a 50-year milestone. Designed to highlight the importance of investing and to increase financial knowledge among South African school... →

Successful first close for third energy transition Evolution impact fund

By: Schalk Burger 9th March 2023 African private equity firm Inspired Evolution successfully achieved the first closing of its third energy transition, net-zero climate impact Evolution fund on March 3. Evolution III closed at $199.4-million in conditional commitments from seven international investors, allowing a further 12- to... →

JSE achieves solid full-year results

By: Tasneem Bulbulia 8th March 2023 The JSE’s solid performance for the year ended December 31, reflects the quality of its earnings and the resilience of its operating platforms within a challenging trading environment, group CEO Leila Fourie says. “I am pleased to report year-on-year growth of 4% in headline earnings a share and... →

JSE CEO Leila Fourie provides an overview of the JSE’s results and initiatives for the period

South Africa must make green hydrogen investment decision in next 12 months

By: Darren Parker 8th March 2023 For South Africa to take full advantage of the opportunities presented by the growing global demand for green hydrogen, management consulting firm McKinsey managing partner of South Africa Kannan Lakmeeharan believes swift action is needed to move from feasibility to investment decisions.... →

Egypt joins AFC as first North African sovereign shareholder

By: Darren Parker 7th March 2023 Egypt has joined infrastructure investment institution the Africa Finance Corporation (AFC) as the first North African sovereign shareholder, serving to diversify the AFC’s expanding equity investor base. As an AFC member State, Egypt’s equity commitment and its imminent representation on the AFC... →

Egyptian Finance Minister Dr Mohamed Maait and AFC president and CEO Samaila Zubairu

EIB, European Commission to boost private sector investments in Africa, other regions

By: Schalk Burger 3rd March 2023 Multilateral finance institution the European Investment Bank (EIB) and the European Commission have signed agreements, committing €4-billion in funding support for businesses in African, Caribbean and Pacific (ACP) countries until 2027. This forms part of the European Union's (EU's) Global... →

Nchocho to step down as CEO of the IDC

By: Darren Parker 3rd March 2023 Industrial Development Corporation (IDC) CEO TP Nchocho has informed the board that he will be leaving when his fixed term-contract comes to an end on December 31. In light of this, it has been agreed that it would be in the best interest of both the IDC and Nchocho that the board proceeds with... →

Photo by Creamer Media
Outgoing IDC CEO TP Nchocho

SA Mint launches leopard coin in Big 5 Series II range

By: Tasneem Bulbulia 27th February 2023 The South African (SA) Mint Company, a wholly-owned subsidiary of the South African Reserve Bank, has introduced the penultimate collection in the second series of the Big 5 collectable range of coins, featuring the leopard. The Big 5 coin range celebrates the five animals that represent Southern... →

An image showing the SA Mint's new gold leopard coin

The new coin

Loadshedding weighing heavily on economic outlook, but climate resilience efforts offer opportunities

By: Tasneem Bulbulia 20th February 2023 South Africa’s economy has performed surprisingly well lately, with gross domestic product trending at pre-pandemic levels; however, global and domestic challenges, especially energy impacts, are expected to play a considerable role on the outlook moving forward. This was noted by Nedbank Group... →

An image of Liquid Intelligent Technologies SA chief strategy officer Dr Willie Oosthuysen

Liquid Intelligent Technologies SA chief strategy officer Dr Willie Oosthuysen outlines the changing landscape of cyber security, and how threats, exacerbated by the impact of loadshedding, can be mitigated.

DBSA to onboard Boitumelo Mosako as new CEO

By: Tasneem Bulbulia 17th February 2023 Development finance institution the Development Bank of Southern Africa (DBSA) has received approval to appoint Boitumelo Mosako as its next CEO when the incumbent Patrick Dlamini’s term comes to an end on March 31. “Mr Dlamini has been at the helm of the institution since September 2012 and his... →

Intellidex launches inaugural Africa Impact Investment Awards

By: Donna Slater 14th February 2023 As impact investing gains momentum worldwide, capital markets and financial services research organisation Intellidex has launched the inaugural Africa Impact Investment Awards. Intellidex MD Dr Graunt Kruger says the awards are being introduced to recognise organisations across Africa that are... →

Private equity fund launched to replace R12bn Section 12J tax incentive

By: Donna Slater 14th February 2023 The Twelve B Green Energy Fund – South Africa’s first private equity fund enabling green energy investors to qualify for South African Revenue Service-approved tax deductions – was launched on February 14. The fund, regulated by the Financial Sector Conduct Authority, has a mandate to invest in... →

Attacq’s shares spike on R2.8bn GEPF investment into Waterfall

By: Tasneem Bulbulia 13th February 2023 The share price of JSE-listed real estate investment trust (Reit) Attacq, which is developing Waterfall City, rose by nearly 22% on the morning of February 13 after the company announced that it had entered into a nonbinding term sheet with the Government Employees Pension Fund (GEPF),... →

Attacq, which is developing Waterfall City, saw its share price rise after announcing that it had entered into a nonbinding term sheet with the Government Employees Pension Fund

Ireland, Austria join AfDB’s Africa Climate Change Fund with €3m contribution

By: Donna Slater 9th February 2023 Ireland and Austria have joined the African Development Bank’s (AfDB’s) Africa Climate Change Fund (ACCF) with contributions of €2-million and €1-million, respectively, to support the fund’s work. The ACCF is a multidonor trust fund that backs the AfDB group’s target of tripling its climate... →

OPEC Fund extends $50m loan to AFC for critical African infrastructure

By: Tasneem Bulbulia 9th February 2023 Globally mandated development institution the OPEC Fund for International Development and multilateral financial institution Africa Finance Corporation (AFC) have signed a $50-million loan agreement to finance the development of infrastructure critical to economic growth and job creation across... →

Sars continues to make strides in rebuilding the institution, says Kieswetter

By: Tasneem Bulbulia 7th February 2023 The South African Revenue Service (Sars) is emerging from State capture allegations and has made progress in several areas; however, there is still considerable work to be undertaken to get the institution to where it needs to be, Sars Commissioner Edward Kieswetter said on February 7. Speaking... →

Photo by Reuters
Sars has made progress in several areas, however, there is still considerable work to be undertaken

RMB establishes US presence

By: Tasneem Bulbulia 6th February 2023 Private sector bank Rand Merchant Bank (RMB) has established a New York-based representative office to facilitate greater US business flows into the African continent. RMB’s parent, FirstRand Bank, has received all necessary approvals from the US Federal Reserve board and the New York state... →

Vantage Capital announces final close of its fourth mezzanine fund

By: Tasneem Bulbulia 6th February 2023 African mezzanine fund manager Vantage Capital has announced the successful final close of its fourth mezzanine fund. A total of $377-million of commitments has been secured from a mix of European and US-based commercial investors, as well as a host of development finance institutions (DFIs),... →

National Treasury’s Jobs Fund partners with Sasfin Asset Managers, RBN Fund

By: Tasneem Bulbulia 3rd February 2023 The National Treasury’s Jobs Fund has selected Sasfin Asset Managers (SAM) and RBN Fund Managers to create a blended finance investment vehicle that expands small- and medium-sized enterprises (SMEs) lending and job creation in South Africa. The Jobs Fund is a multiyear R9-billion National... →

RMB appoints Isaah Mahlanga as chief economist

By: Schalk Burger 1st February 2023 Corporate and investment banking firm Rand Merchant Bank (RMB) has appointed Isaah Mhlanga as its chief economist, with effect from from July 1. Mhlanga, who will succeed outgoing RMB chief economist Ettienne le Roux, has joined RMB as its Markets Research head from February 1. Le Roux and... →

Isaah Mhlanga will take over as chief economist at RMB later this year

African investment opportunities growing on back of global investment climate

By: Schalk Burger 1st February 2023 Venture capital deployed in Africa in 2022 grew compared with 2021 and the continent was the only one to attract more venture capital than in the prior year, which indicates growing trust in the broader investment ecosystem. There is, however, still a lack of companies providing early-stage... →

Convergence closes $296m Africa digital inclusion infrastructure investment fund

By: Schalk Burger 30th January 2023 Private equity investment company Convergence Partners has successfully closed its Convergence Partners Digital Infrastructure Fund (CPDIF) at $296-million, surpassing its initial target by more than 18%. The CPDIF is aimed at driving digital inclusion across Africa and will invest in digital... →

South African pension funds moving to sustainable development investment tipping point

By: Schalk Burger 27th January 2023 South African pension funds remain at relatively low levels of sustainable development investment, with only 16% of the about 1 000 pension funds investing in green, social or sustainability bonds and only 3% of their policy investment statements being aligned to the United Nations Sustainable... →

Absa Group to list on A2X

By: Creamer Media Reporter 26th January 2023 Financial services provider Absa Group will list its ordinary shares for trade on A2X Markets from February 2. Absa Group will retain its primary listing on the JSE nd its issued share capital will not be affected by its secondary listing on A2X. →

Technology startup funding up 8% to $6.5bn in 2022

By: Donna Slater 24th January 2023 African technology startup investment platform Partech Africa’s recently released Africa technology venture capital report reveals that, despite the global venture capital downturn, the African technology ecosystem grew faster than all other markets globally. Total funding invested into... →

AMSA warns of lower full-year earnings amid global, domestic headwinds

By: Darren Parker 24th January 2023 The JSE share price of steel producer ArcelorMittal South Africa (AMSA) fell by nearly 22% on January 24, after it warned of lower profits for the financial year ended December 31, 2022. In a trading statement and business update, the steel producer said its earnings per share (EPS) for the... →

R1.2bn debt restructuring completed for Soutpan solar plant

By: Darren Parker 23rd January 2023 Independent power company Globeleq has completed a R1.2-billion senior debt restructuring for its 31 MW Soutpan Solar Power plant, in Limpopo, one of the first solar power plants built under South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). The company... →

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