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FNB has seen a strong demand from clients buying Krugerrands on its trading platforms as consumers embrace alternative asset classes to diversify their investment portfolios. Over the last year, FNB assisted with facilitating the delivery of over 2 200 Krugerrands on its trading platforms. Sebastian Pillay, Head of Share Investing at FNB Wealth and Investments …
Krugerrands, first minted in 1967, are one of the world’s most well-known and widely traded gold bullion coins. Named after Paul Kruger, the former South African president depicted on the obverse side, these coins hold significant historical value and are highly sought after by collectors and investors alike. The South African Mint introduced Krugerrands as …
Standard Bank has announced a new Mobile Virtual Network Operator (MVNO) collaboration with MTN giving its South African customers access to the mobile operator’s extensive coverage across the country. As part of the bank’s telecommunication strategic direction, Standard Bank Mobile will now be called Standard Bank Connect and will introduce a new set of data …
A-OSH 2024, scheduled from 11 -13 June, focuses on delivering solutions to mitigate workplace occupational safety and health risks, and ensure compliance with the occupational health and safety (OHS) Act. In many industry sectors, there is an increasing emphasis on companies taking ownership of health and safety. Recent events, such as the tragic building collapse …
Reload Logistics (www.ReloadLogistics.com/), a leading provider of end-to-end supply chain solutions, proudly unveils its new brand identity to better align with its innovative, modern approach to logistics. Founded in 2007, Reload has been strategically amassing assets across major routes and ports in Sub-Saharan Africa to provide clients with the most flexible and accessible solutions in the market.
The new brand embodies Reload's commitment to constant innovation, ensuring clients receive the most efficient and forward-thinking solutions for their cargo. This fresh visual identity reflects the company's ongoing commitment to innovation and excellence in the supply chain sector.
Reload Logistics is rapidly accelerating its growth with an already vast asset portfolio, including warehouses, trucks, and rail capabilities across all major routes and ports in Sub-Saharan Africa, providing end-to-end services to global clients. In addition to the rebranding, several key developments will enhance Reload's capabilities and service offerings:
Expansion of RGT Warehouse in Zambia: The RGT facility in Zambia has expanded to a total storage capacity of 80,000 sqm, with 60,000 sqm of covered storage and a 20,000 sqm secure bonded yard. This expansion provides Reload Logistics' clients with more efficient cargo handling and ample space for diverse commodities.
Sulphur Bulk Terminal in Richards Bay: Reload has invested in a 50,000 sqm Sulphur Bulk Terminal in Richards Bay, South Africa. This strategic addition complements the company's extensive portfolio, which includes a fleet of over 1,000 trucks, 200 wagons, and more than 1 million sqm of warehousing space across 13 countries.
Acquisition of Five Locomotives: To enhance service capabilities, Reload Logistics has acquired five diesel-electric mainline freight and passenger locomotives. These locomotives enable the company to handle larger cargo volumes, ensure timely deliveries, and offer greater routing flexibility while reducing its carbon footprint with energy-efficient technology.
"We are excited to unveil our new brand identity," said Roger Graham, Chief Marketing Officer of Reload Logistics. "This new look represents our growth and innovation. Our expansions and acquisitions underscore our commitment to providing top-tier service enabled by our forward-thinking solutions designed for our clients."
Visit our new website at www.ReloadLogistics.com to explore the refreshed brand and discover how Reload Logistics can provide tailored solutions for your logistics needs.
Distributed by APO Group on behalf of Reload Logistics.
For media inquiries, please contact:
Roger Graham
Chief Marketing Officer
Email: brand@reloadlogistics.com
About Reload Logistics:
Reload Logistics is one of Africa's leading providers of end-to-end supply chain solutions for metals, minerals, soft commodities, and project cargo. With over 1,000 trucks, rail wagons, and more than 1 million sqm of storage, Reload Logistics operates in more than 13 countries, providing seamless freight solutions across Africa, Asia, and Europe. Fueled by cutting-edge technology, Reload Logistics ensures real-time updates for clients in challenging supply chain environments, reaffirming its position as an industry innovator.
MultiChoice Group (www.MultiChoice.com/) demonstrated resilient operational performance for the year ended March 2024 (FY24), delivering a 26% trading profit margin in South Africa, while increasing trading profit in the Rest of Africa by 48%, despite very challenging macro-economic conditions. Clear strategic milestones were reached, with the group successfully launching Showmax 2.0, SuperSportBet and Moment, all of which are now revenue-generating and supporting the group's future growth prospects.
Download document: https://apo-opa.co/4cj3eXQ
“Four years after setting out a clear strategy of building Africa's entertainment platform of choice and investing in services to support a broader ecosystem, our three core segments are now fully operational: video entertainment, interactive entertainment and fintech. Our focus now shifts to building on these solid foundations to drive growth in these new areas, and on further enhancing business efficiency across our operations.
While we are not alone in feeling the challenges of a weak consumer environment, I am proud of the speed and effectiveness of the team in implementing strategic actions to retain customers, safeguard cash generation and drive costs savings which surpassed our targets. It is the strength of this team, the quality of the underlying business and the clarity of our strategy which underpins my confidence in delivering on our potential,” said Calvo Mawela, MultiChoice Group CEO.
Some key points for the past financial year:
MultiChoice is by far the largest producer of original content on the African continent. In FY24, the group again produced over 6 500 hours of local content and its local content library now has more than 84,000 hours of content, a 12% increase YoY.
The highlight for the year was Shaka Ilembe, which launched on Mzansi Magic in June to become Africa's biggest TV series. Filmed entirely on location in South Africa, it was created through the skills and contributions of over 8 000 people. The premiere episode attracted over four million viewers and was the top-performing show with an audience share of over 45% in its time slot.
Other content highlights of the year was Reyka (season 2), Devil's Peak and White Lies on linear (co-produced with Fremantle, Canal +, Abacus Distribution and BBC Studios-owned Lookout Point) and Spinners, Original Sin: My Son The Killer, and Catch Me a Killer, on streaming. Across Africa, the group launched 3 new proprietary channels - in Ethiopia (Maaddii Abol), Uganda (Pearl Magic Loko) and Mozambique (Maningue Magic Kool) while also producing content in Africa's 4th most spoken language, Oromo.
SuperSport broadcast 34 490 live events during the year – arguably more live sport than any other broadcaster in the world. Highlights included the Rugby World Cup in France, the Cricket World Cup in India, a second SA20 season in South Africa, AFCON, FIFA Women's World Cup in New Zealand and Australia, as well as the Netball World Cup in Cape Town.
SuperSport Schools more than doubled its registered user base during the year. The fast-growing platform displayed more than 49 000 hours of live programming across 43 different sports codes, covering 900 school sport festivals and events, featuring more than 1 100 schools, and over 14 500 teams.
SEGMENTAL REVIEW
South Africa Pay-TV (MultiChoice South Africa)
Due to a strong focus on retention initiatives, the decline in active subscribers in South Africa was limited to 5%, despite the challenging environment. The base now stands at 7.6 million households. Power outages experienced on 275 days of the year further discouraged potential subscribers without backup power.
Although the Premium bouquet is trending toward a stable base given the targeted retention efforts, the premium customer tier (which includes the Premium and Compact Plus bouquets) declined by 8%. The mid-market Compact base, which is most exposed to the macro-economic challenges, was down 9%, while the mass-market tier was 2% lower due to pressure in the Family base, the impact of loadshedding, and reduced decoder subsidies.
A consequent 3% decline in subscription revenues and softer advertising income weighed on the segment's total revenues (-2% to ZAR33.6bn), but was partially offset by strong traction from new revenue streams, especially the insurance business (NMSIS) which reported a 35% increase in premium revenue to almost ZAR1bn. Several interventions to reduce costs enabled the SA business to achieve a trading margin of over 26%.
Rest of Africa Pay-TV (MultiChoice Africa)
The business in the Rest of Africa faced the toughest macro-economic conditions in its core markets with high, double-digit inflation and extreme depreciation of local currencies, (especially in Nigeria, Angola, Kenya and Zambia) which impacted USD revenues by 32%.
The active subscriber base declined to 8.1m, but effective retention efforts contributed to an improved subscriber mix.
Due to the challenging market dynamics, the short-term focus of this business shifted from subscriber growth to safeguard profitability and cash flows. Several cost-saving initiatives were implemented, including scaling back significantly on decoder subsidies (-46% YoY or ZAR1.3bn), and reducing SG&A costs by ZAR500m. These interventions enabled the Rest of Africa business to increase trading profit by 48% YoY to ZAR1.3bn.
Sub-Saharan Africa SVOD (Showmax)
FY24 was a pivotal year for Showmax as it relaunched across 44 markets in sub-Saharan Africa on Peacock's world-class platform, which is 4K/HDR and ATMOS ready. Almost 100% of the eligible customer base was migrated to the new Showmax platform, and 88% of those migrated had reactivated their accounts in the seven weeks to year-end.
Alongside local content from M-Net, Mzansi Magic, Africa Magic and Maisha Magic, Showmax ramped up its local content, releasing 59 original movies and series in SA, Nigeria, Kenya and Ghana (FY23: 48). Popular shows that drove viewership included Tracking Thabo Bester, Koek, The Mommy Club, Youngins, Red Ink, Adulting, Outlaws and Real Housewives of Durban in South Africa, Cheta'm, Real Housewives of Lagos, Dead Serious, Wura and Flawsome in Nigeria, and Single Kiasi and Second Family in Kenya.
Showmax revenues for the year grew by 22% (+22% organic) to ZAR1.0bn, while trading losses increased to ZAR2.6bn. These losses came in below the expected range of ZAR3-4.0bn. As noted before, due to the partnership agreement signed in 2023, 30% of Showmax's funding requirements is contributed by Comcast.
Technology (Irdeto)
Irdeto's strong execution, enabled it to become the market leader in managed security services for video with a 22% market share. It also saw significant success in combatting piracy, taking down some 30 000 streaming piracy services during the year. Revenue increased by 17% (7% organic) driven by external customers across video entertainment, gaming and connected transport, with some additional uplift from a weaker ZAR against the USD. Disciplined cost management supported a 23% trading margin.
Irdeto shipped its first keyless solutions to leading customers, including one of the largest fleet operators in the US market. This resulted in a revenue increase of 119% YoY in the connected transport division, with revenue from new services now representing a combined 35.7% of total revenues.
Sports betting and interactive entertainment (KingMakers)
KingMakers reported strong growth in the online business in Nigeria, with monthly active users up 37% YoY and online gross gaming revenues up 26% YoY in constant currency. New products were also launched, including BetKing Casino and BetKing FootballGO, a virtual football sportsbook service.
Revenue of USD147m was affected by the weak Naira, while the business reported a positive EBITDA of USD2m. At the end of its December year-end the business had a retained cash balance USD113m to fully fund its growth initiatives.
KingMakers launched the SuperSportBet business in South Africa in January 2024. Its pre-game shows and live feed integration with SuperPicks, as well as the Playbook preview show were key drivers of uptake, further supported by SuperSportBet becoming the official betting partner of local soccer clubs, Kaizer Chiefs and Orlando Pirates.
Fin-tech (Moment)
After being founded during FY23, Moment officially launched in FY24. The business played a vital role in the Showmax relaunch stepping up to fill a critical payments gap. In January this year, Moment also began processing MultiChoice's payments for DStv, reaching a milestone of processing USD85m in payments in early March 2024.
To-date, Moment has processed local and cross-border card payments in 44 Showmax markets and is already accounting for more than 20% of Group's payment volumes. It also joined real-time payment networks in 18 countries, including South Africa, and is currently piloting instant payment and account activation for DStv.
The business raised an additional USD22m of funding, with MultiChoice contributing USD8m. As a result, Moment is now valued at USD82m and MultiChoice owns a 26% stake.
FUTURE PROSPECTS
The linear video-entertainment business remains the mainstay of the group's operations and provides a valuable base from which to expand its service offerings. The new streaming, interactive entertainment, fintech and connectivity services are having a positive impact on the business, and more importantly, on the lives of its customers. Going forward, the group will focus its efforts on scaling Showmax, Moment, SuperSportBet, as well as on driving growth in insurance (NMSIS), DStv Internet and DStv Stream.
To counter the challenges around an uncertain economic recovery globally and across the group's operating footprint, the group will continue to drive business efficiency and cost optimisation, with an increased cost savings target of ZAR2bn.
Not only should this mitigate the ongoing impact of currency volatility and consumer weakness on performance, but together with the company's strategic plans to continue adapting its platforms to cater to customers' evolving needs, it positions the group well to prosper once currencies stabilize and economies rebound.
Distributed by APO Group on behalf of MultiChoice Group.
MultiChoice Group Contact Details:
Litlhare Moteetee
Senior Manager: Corporate Communications
Litlhare.Moteetee@Multichoice.co.za
Meloy Horn, Head of Investor Relations
Mobile: +27 82 772 7123
meloy.horn@multichoice.com
About MultiChoice Group:
MultiChoice Group (MCG), listed on the Johannesburg Stock Exchange (JSE), is a leading provider of entertainment and related consumer services, with an expanding ecosystem, underpinned by scalable technologies, and a track record now spanning almost 40 years. MCG provides video entertainment products and services through its linear and streaming platforms to 23.5m households across 50 countries on the African continent and continues to grow by producing and acquiring the best local, sport and international content and offering tiered subscription packages and aggregated streaming services to its customer base. MCG's superior technology capabilities enables it to continue innovating around distribution, digital and payment solutions and content security to offer the best customer experience across the continent. Reaching up to 100 million individuals on a daily basis, the MultiChoice Group is using its scale and distribution to expand its platform to include sports betting and interactive entertainment, fin-tech services, household services (focused on internet connectivity and emergency response services) and ed-tech. Irdeto, MCG's technology business, provides platform cybersecurity services which protect over 6bn devices and applications globally for some of the world's best media and technology brands, as well as clients in the connected industries sector.
Revenue from continuing operations up 7.9% year on year to R77.2 billion Operating profit from continuing operations of R1.6 billion Cash generated from continuing operations of R1.4 billion Salient terms reached with prospective buyer for SPAR Poland The SPAR Group, which reported results for the six months ended March 2024 today, continues to make good …
With a strong slate of exploration and production activities and competitive licensing rounds in 2024, Africa is well-positioned to realize its potential as the global energy frontier. These bid rounds are poised to cement Africa as a global hub for hydrocarbon development.
Licensing rounds from Africa's leading upstream players will be on display at this year's African Energy Week (AEW): Invest in African Energy 2024 – scheduled for November 4-8 in Cape Town. Investors will be able to access exclusive information and technical presentations from the relevant petroleum ministries and regulators on both current and planned licensing rounds as the continent seeks to attract a broader range of companies to sign new contracts and drive exploratory drilling.
AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
Oil and Gas Revival in North Africa
As part of the country's plan to boost oil production to two million barrels per day within the next three to five years, Libya's parastatal National Oil Corporation has announced plans for an oil and gas licensing round in 2024 or early 2025. The licensing round will focus on fields in the Sirte, Murzuq and Ghadames basins and presents a vital opportunity for Libya to attract new upstream investments.
Meanwhile, Algeria is expected to launch a licensing round offering between 10 and 12 onshore blocks in late 2024. The bid round forms part of the country's strategy to maximize its gas and LNG potential. Additionally, in September 2023, the Egyptian General Petroleum Corporation and the South Valley Petroleum Holding Company launched a new licensing round aimed at boosting the country's energy reserves and production capacity. The licensing round offers 23 on- and offshore blocks for oil and gas exploration in the Western Desert, Eastern Desert, Gulf of Suez and Red Sea.
Driving Production in Africa's Promising Frontiers
With energy supermajors bp, TotalEnergies and Shell as well as upstream independent Kosmos Energy spearheading exploration activities in Mauritania, the country's upcoming licensing round for 15 offshore blocks in 2024 is poised to mark a significant milestone in its energy sector. Mauritania's coastal basin features extensive 2D and 3D seismic data coverage covering over 100,000km and 100,000km2, respectively.
Additionally, with its latest licensing round having featured 56 offshore blocks and concluding last September, another bid round is on the horizon for Sierra Leone in 2024. Despite its position as a frontier exploration market, Sierra Leone boasts a significant petroleum system that includes the Venus-B1, Mercury-1, Jupiter-1 and Savannah-1X discoveries. The country's licensing round is supported by extensive 2D and 3D multi-client data, competitive and transparent fiscal terms and cooperation agreements in place with other African markets.
Set to spur new exploration and drilling activities in the prospective acreages of its deepwater basins, Nigeria's Upstream Petroleum Regulatory Commission relaunched its latest licensing round during the Invest in African Energy summit in May. The round features 12 deep offshore and shallow water oil blocks and is available for bidding through January 2025.
Propelling Southern and Eastern Africa's Energy Security
Last September, Angola's national concessionaire the National Oil, Gas and Biofuels Agency launched a public tender for 12 onshore blocks in the Kwanza and Congo Basins. Receiving 53 bids, the tender includes four blocks in Angola's Congo Basin and eight in the Kwanza Basin.
Expected for 2024 or 2025, the South African government will put up at least 10 new onshore blocks for shale gas development in the country's Karoo region to reduce imports and alleviate an ailing energy grid. The licensing round will serve as the country's first competitive auction for oil and gas resources. According to the state-owned Petroleum Agency of South Africa, the Karoo basin is estimated to hold up to 209 trillion cubic feet of recoverable shale gas and includes 90,000km2 of acreage previously held by Shell.
Tanzania has proposed auctioning up to 26 oil and gas blocks by June 2024 and will award licenses to the winners by December of the same year. The round will serve as Tanzania's fifth bid round and is designed to revive interest in the country's largely underdeveloped oil and gas sector. Of the 26 demarcated blocks open for bidding, 11 will be situated in the country's offshore while 15 will be onshore. The Tanzanian government is currently in talks with a multi-client data contractor to compile extensive 2D and 3D seismic data within the basins.
Meanwhile, having introduced a new Hydrocarbons Code in 2019, Gabon has emerged as a preferred destination for energy investors and majors due to investor-friendly reforms. Gabon's heightened interest is attributable to the deregulation of its hydrocarbons sector, which is a core aim of its recently enacted reforms.
During the AEW: Invest in African Energy conference, industry experts will unpack block opportunities across Africa's mature and emerging oil and gas markets. Through dedicated country spotlight sessions, panel discussions and investor briefings, the event promotes deal-signing and project development.
Distributed by APO Group on behalf of African Energy Chamber.
Djibouti – The Government of the Republic of Djibouti has taken note with dismay of the “Container Port Performance Index 2023” report published on Wednesday, June 5, by the World Bank in partnership with the private company S&P (Standard and Poor’s). According to this report, the Port of Djibouti has dropped from the 26th position …
Chantal Marx, Investment Research Head, FNB Wealth and Investments answers this question; “Gold is at record levels – what now?” The gold price recently reached another all-time high, prompting investors to reassess their current exposure. Is it time to take profit for those who have held positions in gold or is it better to just …
The exciting upward trend we have seen in the Western Cape tourism sector continues, bringing economic and job-creating benefits to the Western Cape. “The latest report on tourism in the Western Cape tells us that the 53 participating attractions across the six regions of the Western Cape recorded a total of 3 206 546 visitors between …
Polygon (www.PDOOH.co.za), South Africa's largest programmatic digital out of home (DOOH) publisher network, has recently announced that it will be expanding its network across Africa. This brings it one step closer to realising its vision of offering marketers a single point of entry into the largest network of DOOH inventory across the continent.
At the start of June, Polygon will be able to offer advertisers inventory in Namibia, Botswana and Zambia, while in August, Mauritius, Ghana and Kenya will also come online. Towards the end of the year, the publisher network will add screens in Nigeria, Uganda, Zimbabwe, Mozambique and Angola to its inventory arsenal.
Remi du Preez, Managing Director at Polygon, explains that June's roll-out – as well as the roll-out planned for later this year – will be located at petrol station forecourts spearheaded under the Vivo brand. Forecourts are renowned among advertisers for their high dwell times and attention-capturing displays. This is made possible by Polygon's partnership with media owner Oasis Digital Networks, which has the rights to build sites at these petrol stations.
“We are expanding our large format digital network across the most frequented petrol stations in each country; from Windhoek, Gaborone, and Lusaka to other key hubs that travellers are likely to visit when moving through the major cities of these regions.”
Says Reinhardt Hanel, CEO of Oasis Digital Networks “What excited us about partnering with Polygon is that it is strongly rooted in the DOOH market and it understands the value proposition that our network of inventory offers to advertisers.”
Du Preez explains that historically – and as with other emerging markets – when purchasing inventory in Africa, there was often a lack of consistency and transparency in reporting. Media buyers faced concerns about the number of ad serves that were promised, versus actually delivered.
Through its programmatic network, Du Preez says that Polygon can offer advertisers complete transparency. “Buyers have immediate access to the programmatic demand-side platform (DSP), which offers a clear view as to what is happening on the ground.”
He adds that up until now, programmatic buying throughout Africa has been limited. “Through these new network integrations, we're on our way to creating an African ‘mega network' that will allow digital strategists to buy programmatically anywhere on the continent and across a variety of venue types.
“We already have an array of digital strategists booking campaigns in Africa via Google, YouTube and Facebook; however, they now have the option to use these same tools to add DOOH to the mix, delivering high-impact, omnichannel campaigns.”
Adds Hanel: “Polygon, led by Remi, has positioned its business as an authority in the programmatic DOOH space, which is helpful to brands wanting to chart new ground in the outdoor arena.
“It has worked tirelessly to support media owners, like Oasis, in offering clients programmatic solutions. By marketing our inventory, they unlock new opportunities and revenue for us, fast-tracking our sales. We believe that they will play a key role in driving the move to greater programmatic availability in Africa.”
Concludes Du Preez: “This expanded network will not only allow media strategists and buyers to consolidate buying; it will also add value to the continent's media owners, who can now bank on a new stream of revenue, ultimately boosting Africa's economies.”
For more information, please visit www.PDOOH.co.za
Distributed by APO Group on behalf of Polygon.
Johannesburg, Illovo – 07 June 2024 – NDT Projects, a leading provider of Non-Destructive Testing (NDT), Heat Treatment, and Corrosion Protection services, is proud to announce the opening of its new satellite office in Spartan, Johannesburg. This strategic expansion strengthens NDT Projects’ commitment to serving clients throughout South Africa and further establishes them as a …
Johannesburg, South Africa – 6 June 2024, Absa and Renault in South Africa are delighted to announce a strategic alliance designed to drive market-leading growth for both businesses. This partnership brings to market the launch of Renault Financial Services, a finance product of Absa, aimed at offering finance and other comprehensive suite of financial services …
Oil and gas exploration company Eco (Atlantic) – through its wholly-owned subsidiary Azinam South Africa – has signed a farm-in deal with energy company Tosaco Energy for a 75% working interest in Block 1 - located in the offshore South African Orange Basin. Eco (Atlantic) has assumed operatorship of the block, with the remaining 25% stake expected to be transferred to South African company OrangeBasin Oil & Gas. Upon completion of the transaction, Eco (Atlantic) will assume control of one of the largest blocks in the Orange Basin.
The African Energy Chamber (AEC) – representing the voice of the African energy sector – believes that this transaction is only the start of a wave of Orange Basin deals in the coming years. Having revealed substantial deposits in neighboring Namibia, the basin stands to play a catalyzing role in driving energy security in South Africa. The AEC commends the efforts by Eco (Atlantic) to unlock undeveloped blocks offshore South Africa and looks forward to a discovery being made in the coming years.
The strategic acquisition is on trend with a strong lineup of companies looking at tapping into the Orange Basin. Since play-opening discoveries were made by energy majors Shell, TotalEnergies and Qatar Energy in 2022, over 15 finds have been made by an assortment of majors and independents. In February 2024, TotalEnergies intersected hydrocarbon-bearing intervals in the Mangetti-1X exploration well in Block 2913B – marking the second discovery made by the company in the basin. TotalEnergies is currently leveraging the Tungsten Explorer drillship to assess reserves available at the well. The discovery followed the company's Venus-1X find made in February 2022. Research firm Wood Mackenzie estimates that Venus alone could hold as much as three billion barrels of oil – making it sub-Saharan Africa's largest oil discovery.
Additionally, in January 2024, multinational energy corporation Galp made its second oil discovery at the Mopane-1X well in PEL 83. Preliminary estimates place over 10 billion barrels of oil at the Mopane field. The company is currently seeking a farm-in partner to develop the block, with a 40% stake in the Mopane discovery up for grabs. Meanwhile, energy major Shell continues to witness a string of success, with its recent Lesedi-1X well – discovered in July 2023 – representing the fourth commercial discovery made by the firm in the Orange Basin. Other finds – namely, Graff-1X, La Rona and Jonker-1X – hold as much as 1.7 billion barrels combined. Shell is currently undertaking an extensive drilling campaign, with up to 25% of the company's 2023-2024 exploration budget being directed towards deepwater exploration in the Orange Basin.
These discoveries underscore the size and potential of the Orange Basin, with substantial deposits likely extending into South Africa. Block 1 is located on the maritime border of South Africa and Namibia, in close proximity to blocks held by Shell, Galp and TotalEnergies. The block is also situated by the Kudu Development Project – Namibia's inaugural natural gas project with 1.3 trillion cubic feet of reserves. Kudu is poised to be a gamechanger for the country, providing low-cost power and fuel while laying the foundation for gas-driven economic growth. As such, Block 1's proximity means that the asset could likely yield similar developments and the Eco (Atlantic) acquisition is the first step towards realizing this goal.
“The Orange Basin has emerged as one of the most promising offshore plays worldwide in recent years. Exploratory success on the Namibian side of the basin shows strong potential for the South African side, and while exploration in this area has been slow to date, the recent farm-in by Eco (Atlantic) is poised to reverse this trend. The AEC has long-advocated for the need to advance drilling efforts in Africa and the Orange Basin stands to play a transformative role in the region's energy landscape,” stated NJ Ayuk, Executive Chaiman of the AEC. “We look forward to witnessing commercial success across Block 1 and commend Eco (Atlantic) for their commitment to unlocking the potential of this asset.”
Distributed by APO Group on behalf of African Energy Chamber.
JOHANNESBURG – Since 2007, the Vodacom Foundation has proudly partnered with the Smile Foundation to support Smile Week, an initiative that provides life-changing reconstructive surgery to children with treatable facial anomalies. Smile Week not only addresses the physical challenges faced by these young people but also alleviates the emotional distress associated with feeling different, enabling …
The Africa Women Innovation and Entrepreneurship Forum (AWIEF) (www.AWIEForum.org) is thrilled to announce that nominations are officially open for the 2024 AWIEF Awards. This prestigious event celebrates the incredible achievements and contributions of women founders and entrepreneurs across Africa. The AWIEF Awards honor those who drive inclusive economic growth and development through their visionary leadership and innovative business practices.
AWIEF is a renowned pan-African organization dedicated to empowering women economically by closing gender gaps and promoting business leadership and entrepreneurship across the continent.
Why Nominate?
Nominees for the AWIEF Awards should be emerging and established female entrepreneurs who have demonstrated outstanding vision, leadership, innovation, and business success. This is your chance to shine a spotlight on the incredible women making a difference in their industries and communities.
Categories
Save the Date
The 2024 AWIEF Awards winners will be celebrated at a spectacular awards ceremony and gala dinner on November 29, 2024, at the Cape Town International Convention Centre (CTICC), Cape Town, South Africa. This event will cap off the AWIEF2024 conference, which takes place on November 28-29, 2024.
How to Nominate
Nominations close on August 5, 2024, at 11:59 PM GMT. You can nominate yourself or someone else.
Judging
Entries will be evaluated by an esteemed panel of international judges.
Join Us
This is your chance to be part of a movement that recognizes and celebrates the incredible women entrepreneurs transforming Africa. Let's honor those who lead with innovation, inspire with their achievements, and empower their communities.
For more details and to see past winners, click here (https://apo-opa.co/4e6SYno). For any inquiries, please email us at awards@awieforum.org
Don't miss this opportunity! Nominate now and be part of the change!
Distributed by APO Group on behalf of Africa Women Innovation and Entrepreneurship Forum (AWIEF).
Radisson Hotel Group (www.RadissonHotels.com) is proud to announce its goal to reach 25 hotels in South Africa by 2030, effectively doubling its current portfolio. This ambitious expansion along with the Group's recent updates to its South African portfolio underscores its commitment to strengthening its presence and contributing to the growth of the South African hospitality industry.
Daniel Trappler, Senior Director of Development, Sub-Sahara Africa at Radisson Hotel Group, shared insights into the Group's strategic approach to reach its ambitious goal of 25 hotels by 2030, stating, "We are prioritizing, through either management or franchise models, conversions for quicker market entry and exploring strategic collaborations with existing management companies to increase our footprint, which presents the potential introduction of the Radisson Individuals brand to South Africa, an ideal first step for individual hotels with strong service scores who may be considering transitioning to one of our other successful core brands at a later stage. We are also seeking opportunities to expand our upper-upscale portfolio and enter the lifestyle luxury market in Cape Town with our Radisson Collection and art'otel brands, leveraging the city's strong tourism performance and our successful existing portfolio.”
Radisson Hotel Group has announced significant updates to its portfolio of operating hotels in South Africa, including:
The debut of its first Safari hotel in South Africa with the opening of Radisson Safari Hotel Hoedspruit:
In February Radisson Hotel Group announced the opening of Radisson Safari Hotel Hoedspruit (https://apo-opa.co/3Kwoqy0) its first Safari hotel and 13th hotel in South Africa. This property offers a luxurious safari experience in the heart of South Africa's wildlife region, with premium amenities and exceptional service. Boasting majestic views of the Drakensberg mountains, the highest mountain range in Southern Africa, Radisson Safari Hotel Hoedspruit is surrounded by endless destination-immersing activities.
“Building on the success of our recently opened Radisson Safari Hotel Hoedspruit, we plan to expand into safari and leisure regions like the Kruger National Park and the world-renowned Winelands region surrounding Cape Town. Additionally, we are targeting secondary cities displaying strong hotel demand generators such as Bloemfontein, Pretoria, Durban, and East London, following our successes in Port Elizabeth and Polokwane. In addition, we are also exploring entry into smaller tertiary cities and towns if it aligns with our expansion strategy,” added Trappler.
Extensive Refurbishments at Radisson Blu Gautrain Hotel, Sandton Johannesburg and Radisson Blu Hotel Waterfront, Cape Town:
The Radisson Blu Gautrain Hotel, Sandton Johannesburg (www.RadissonHotels.com), is undergoing a significant renovation, with 60% of the hotel's rooms already completed, enhancing the overall guest experience. This extensive refurbishment features upgraded wooden flooring, stone countertops, local artworks, carefully crafted furniture, and technological upgrades like smart TVs and conveniently located USB ports. This two-phase refurbishment project has already completed its first phase, with each floor and corridor renovated to showcase a new level of contemporary luxury.
The Radisson Blu Hotel Waterfront, Cape Town (https://apo-opa.co/3Kvyebp) has announced its highly-anticipated refurbishment plans, reaffirming its commitment to offering guests world-class furnishings and contemporary interior design. Phase one is set to be completed by September 2024, with public Atrium and bedroom renovations expected in July 2024. An expert team of local and international designers has meticulously reviewed and handpicked the design, artwork, fabrics, and raw materials, ensuring an enhanced and stylish hospitality experience.
Rebranding of Park Inn Foreshore to Radisson Hotel Cape Town Foreshore:
In April, Radisson announced the rebranding of Park Inn Cape Town Foreshore to Radisson Hotel Cape Town Foreshore (https://apo-opa.co/3yVxYzK). This rebranding brings the renowned Radisson brand to South Africa's ‘Mother City'. Following an eight-month renovation, Radisson Hotel Cape Town Foreshore's120 rooms now boast a fresh and modern decor that creates a relaxing environment for guests as well as magnificent views of the prominent Table Mountain and the city center. The hotel now hosts South Africa's first Filini restaurant, offering fresh, simple, and delicious Italian-style cuisine with an interactive open-plan kitchen setting. Additionally, the vibrant Harald's Rooftop Bar & Terrace provides an ideal spot to unwind with uninterrupted views of Table Mountain and the cityscape, complete with a perfectly positioned plunge pool for a complete rooftop experience.
“These significant updates to our South African portfolio reaffirm our unwavering commitment to delivering exceptional hospitality experiences across the country. Our ongoing growth in the region underscore our position as a leading force in the South African hospitality industry. This is just the beginning of a series of exciting announcements for our South African portfolio and the unmatched experiences guests can expect from our hotels,” concluded Sandra Kneubuhler, Country Director of Sales and District Director, South Africa at Radisson Hotel Group.
Distributed by APO Group on behalf of Radisson Hotel Group.
Connect with Radisson Hotels on:
LinkedIn: https://apo-opa.co/3KrNeHc
Instagram: https://apo-opa.co/3Ku07R3
Twitter: https://apo-opa.co/4aNzAJg
Facebook: https://apo-opa.co/45hQsH2
YouTube: https://apo-opa.co/3Vq1zu6
TikTok: https://apo-opa.co/45hQuPa
About Radisson Hotel Group:
Radisson Hotel Group is an international hotel group, operating in EMEA and APAC with over 1,350 hotels in operation and under development in +95 countries. The international hotel group is rapidly expanding with a plan to significantly grow the portfolio. The Group's overarching brand promise is Every Moment Matters with a signature Yes I Can! service ethos.
The Radisson family of brands portfolio includes Radisson Collection, art'otel, Radisson Blu, Radisson, Radisson RED, Radisson Individuals, Park Plaza, Park Inn by Radisson, Country Inn & Suites by Radisson, and prizeotel brought together under one commercial umbrella brand Radisson Hotels.
Radisson Rewards (https://apo-opa.co/3Vu87Ij) is Radisson Hotel Group's loyalty program, which delivers an elevated experience that makes Every Moment Matter. As the most streamlined program in the sector, members enjoy exceptional advantages and can access their benefits from day one across a wide range of hotels in Europe, Middle East, Africa, and Asia Pacific.
Radisson Meetings (https://apo-opa.co/4aU1nHY) provides tailored solutions for any event or meeting, including hybrid solutions placing guests and their needs at the heart of its offer. Radisson Meetings is built around three strong service commitments: Personal, Professional and Memorable, while delivering on the brilliant basics and being uniquely 100% Carbon Neutral.
At Radisson Hotel Group we care for people, communities and planet (https://apo-opa.co/45hQA9u) and aim to be Net Zero by 2050 based on the approved near-term Science Based Targets. With unique solutions such as 100% carbon neutral Radisson Meetings, we make sustainable hotel stays easy. To facilitate sustainable travel choices, all our hotels are becoming verified on Hotel Sustainability Basics.
The health and safety of guests and team members remain a top priority for Radisson Hotel Group. All properties across the Group's portfolio are subject to health and safety requirements, ensuring we always care for our guests and team members.
For more information, visit our corporate website (https://apo-opa.co/45hQC16).
RS South Africa (www.Africa.RSdelivers.com), a trading brand of RS Group plc (LSE: RS1), a global provider of product and service solutions, has formed a strategic partnership with Sharps Electrical (http://apo-opa.co/3VtNc8b), a leading electrical wholesaler and contractor in Botswana. This collaboration marks a significant stride towards fostering innovation and sustainable growth in the Sub-Saharan African region.
Signed on 1 April, the partnership aims to leverage the strengths of both companies to deliver superior products and services to customers in the region. Prosper Shoniwa, Exports Business Development & Operational Manager at RS, highlights the importance of this collaboration: “This partnership is crucial for RS as it strengthens our presence in the Botswana market.”
He adds: “It aligns with our strategic goal of expanding in key regions to drive growth across Sub-Saharan Africa. By collaborating with Sharps Electrical, known for its reliability and consistency, we can ensure our products are more accessible to the market and offer robust aftersales support. We believe Sharps Electrical is the ideal partner to help us achieve our growth objectives.”
With over fifty years of operational excellence in Botswana, Sharps Electrical provides invaluable local market insights and proficiency. Jose Xavier, Operations Director at Sharps Electrical, expresses his excitement about the partnership: "Our aim is to diversify our product portfolio in conjunction with RS to advance our shared objective of expanding our market presence in Botswana. Together, we can introduce innovative products and foster collaborative efforts to deliver impactful supply and service solutions to our customers.”
The partnership will focus on selling and supporting the comprehensive product range that RS currently offers. This includes electrical components, tools, and advanced engineering solutions tailored to meet the specific needs of the Botswana market. Sharps Electrical will serve as the in-country point of contact for RS, ensuring customers have direct access to technical support and customer care.
By combining the strengths and expertise of both companies, the partnership aims to enhance the customer experience in Botswana. The collaboration will enable the provision of a wider range of high-quality products tailored to meet customer needs. Furthermore, investments in training and development initiatives will empower staff to deliver exceptional customer service, thereby nurturing local partnerships and enhancing logistical efficiency.
Shoniwa adds that the partnership is a significant step in RS' overall growth and expansion strategy. “It not only enhances our presence and operational capabilities in Africa but also presents significant advantages for Sharps Electrical.
“By establishing a local partnership in Botswana, RS aims to engage with customers more intimately, offering tailored support and fostering enduring relationships. This strategic move not only expands our geographical footprint but also ensures enhanced service delivery, crucial components of RS' strategy for sustainable growth and market penetration in new regions," concludes Shoniwa.
To learn more, visit the RS South Africa website.
Distributed by APO Group on behalf of RS South Africa.
PR Contact Person - RS South Africa:
Princess Tlou
Communications & Content Specialist
RS South Africa
Princess.Tlou@rsgroup.com
+27 11 691 9366
Media Contact Person – NGAGE:
Thobile Ndlovu
PR Account Executive
thobile@ngage.co.za
+27 11 867 7763
Further information is available via these links:
LinkedIn: https://apo-opa.co/3KtqlD9
Facebook: https://apo-opa.co/3Reyj6S
Twitter: https://apo-opa.co/3yJPAP7
RS
RS is a trading brand of RS Group plc, providing product and service solutions that help our customers design, build, maintain, repair, and operate industrial equipment and operations, safely and sustainably. We stock more than 750,000 industrial and electronic products, sourced from over 2,500 leading suppliers, and provide a wide range of product and service solutions to 1.1 million customers.
We support customers across the product lifecycle, whether via innovation and technical support at the design phase, improving time to market and productivity at the build phase, or reducing purchasing costs and optimising inventory in the maintenance, repair, and operation phase. We offer our customers tailored product and service propositions that are essential for the successful operation of their businesses and help them save time and money.
RS Group plc is listed on the London Stock Exchange with stock ticker RS1 and in the year ended 31 March 2023 reported revenue of £2,982 million.
RS South Africa: http://apo-opa.co/3VthqIs
RS Africa Exports: http://apo-opa.co/3VtNbkD
DesignSpark: http://apo-opa.co/4bLhPeW
RS Group plc: http://apo-opa.co/4bIfGkj
PRETORIA, SOUTH AFRICA, 4 June 2024 – A million of anything is a huge number. Now imagine one million Ford Rangers being lined up bumper-to-bumper, starting at Ford South Africa’s Silverton Manufacturing Plant in Pretoria and heading due north through Africa. Ford’s segment-defining pick-ups, or bakkies in South African vernacular, would reach all the way …
Pretoria, South Africa, 04 June 2024: JLR’s new support policy will provide employees with menopause symptoms with support and guidance. The policy was developed with help and feedback from colleagues, employee-led diversity networks and was agreed upon jointly with the trade union. Under the new policy JLR employees experiencing symptoms of menopause have the right …
As global investment markets have increasingly become characterised by uncertainty and volatility; a growing number of investors are recognising the value of Exchange-Traded Funds (ETFs) as a way of achieving diverse market exposure through a single investment transaction. Not only does such diversification mean that investors can reduce the risks associated with market volatility and …
Vodacom has opened applications to its Early Careers programmes for the 2025 intake. The initiative is part of Vodacom’s commitment to supporting youth development in South Africa, whilst creating an inclusive digital society by nurturing emerging talent in Science, Technology, Engineering, and Mathematics (STEM) through employment and education opportunities. “As Vodacom celebrates connecting South Africans …
Building on its already impressive repertoire of endorsements and accolades, Sandton City (www.SandtonCity.com) in Johannesburg has now been recognised on a global scale for marketing. This past weekend, Africa's top retail destination was awarded with two honours at the International Council of Shopping Centres (ICSC) Global Marketing Awards in the U.S. for professional marketing excellence. The ICSC Global Awards are the most recognized achievement in retail marketing.
The centre's 2023 festive season activation, titled Momo's Magical Adventure, won a silver MAXI Marketing award, while the LEGO, Your Dream Car Generation won a gold Global Visual Victory award. The winners were announced at a prestigious ceremony in Las Vegas, this past weekend, that saw the world's leaders in the retail industry congregate to recognise excellence and retail innovations.
Momo's Magical Adventure was an original live theatre production, staged in a bespoke tent in the Sandton City centre court, over the December 2023 holiday. Visitors of all ages flocked to the show to enjoy the heart-warming story with endearing characters and a delightful storyline. The production was commissioned by Sandton City and brought to the stage by an award-winning creative team. Produced by visionary Lyall Ramsden, and under the playful directorial eye of Kirsten Harris, with a musical composition by James Bassingthwaighte, the show was a sensory delight, creation an unforgettable holiday experience. Also this week, the lead actress Tebogo Molepo won best performance in a production for young audiences at the South African Naledi awards, that honour excellence in theatre.
In another first, Sandton City was the first destination on the African continent to host the LEGO® Your Dream Car Generation activation. Spanning over approximately 300sqm, the experience transported shoppers to a riveting deconstructed car manufacturing garage, leveraging high-end technology, to ‘'generate'' their dream car. With multiple touchpoints throughout the build, including graphics, animation and an interface control panel, the shopper journey enabled car enthusiasts to get creative and add their personal touches to their car design details.
“Sandton City is widely recognised for its iconic activations throughout the year, but especially during holiday seasons, as shoppers of all ages, including from beyond our catchment area, look forward to what we offer,” said Michael Wilson, Chief Marketing Officer for Excellerate Brand Management - EBM, the centre's marketing agency. “Sandton City continues to leverage key partnerships with iconic and beloved international brands such a LEGO, but we also understand the importance of conceptualising local opportunities, which was the key driver for the creation of Momo's Magical Adventure. I am thrilled that we have been applauded on an international stage, with Sandton City being the only winner on the African continent,” he added.
Sandon City's General Manager and Asset Management Executive, Dimitri Kokinos shared his excitement at the wins: “Last year Sandton City celebrated its 50th birthday, and it was crucial that we continued to host standout activations and experiences that surpass consumer expectations throughout the year. The awards are testament to our commitment to our tenants and customers and demonstrate the world class offering at Sandton City.”
Distributed by APO Group on behalf of Sandton City.
For more information and regular updates go to www.SandtonCity.com or follow the centre on social media @SandtonCitymall.
Contact us:
Management Offices, Ground Floor, Atrium on 5th
Sandton City
PO Box 78100
Sandton, 2146
Tel: +27 11 217 6000
Web: www.SandtonCity.com
About Sandton City:
Sandton City Shopping Centre is renowned amongst both local and international visitors as one of Africa's leading retail destinations. With an impressive retail, office and leisure space ranking as South Africa's top performing retail destination in terms of trading density, Sandton City has an effective tenant leasing strategy and a low vacancy level. The shopping centre is home to over 300 of the most exciting local and international brands and presents you with a world of luxury in the exclusive Diamond Walk.
Sandton City is six-star green-star rated by the Green Building Council of South Africa. This is the first super-regional shopping centre on the African continent to achieve such a prestigious rating, representing world leadership in environmentally sustainable operational efficiencies. In accordance with the SHORE accreditation standards by international certification body SAFE Asset Group, Sandton City is certified COVID-19 compliant and has also achieved gold level status as a safe retail destination for its ability to prevent, adapt, respond to, recover and learn from operational disruptions. Adjacent to world-class hotels and mega corporate headquarters, winning multiple Best Shopping Mall awards each year, Sandton City continues to be a leader in mixed-use properties.
Sandton City is co-owned by Liberty Group and Pareto Limited, and managed by JHI Retail Proprietary Limited.
For more information, please visit either www.SandtonCity.com, www.Liberty2Degrees.co.za, www.Pareto.co.za or www.JHI.co.za.