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Today’s unchanged repo rate decision was as expected by FNB. This means that the SARB has kept interest rates unchanged since May 2023, after a prior 475 basis point hiking cycle starting late 2021. Although CPI inflation is back within the SARB’s 3-6% target range, at 5.1% it remains nearer to the upper target limit, …
2023 was a challenging year on many fronts, with fallout from unusually high levels of global political and economic turmoil affecting markets around the world. In South Africa, this manifested as steep – and difficult to control – inflation, resulting in a rapid series of interest rate increases between November 2021 and May 2023. For …
Offerings Tailored for 5G Challenges and Economic Growth – by Jon Abbott, Telecom Strategic Clients Director, EMEA at Vertiv The telecommunications industry across Africa occupies a complex yet active space, with factors such as significant investment in sub-sea connectivity cables, increasing demand for data centres, and the rollout of terrestrial fibre broadband infrastructure gaining increasing …
Verdant Capital (www.Verdant-Cap.com) is pleased to announce that it has facilitated and advised on the raising of EUR 2 million of debt funding for US Plus Limited (“UsPlus”), an innovative specialist SME financing firm based in South Africa.
The funding increases UsPlus' capacity to finance SMEs in South Africa, thereby contributing to the country's development agenda. The new funding further broadens the institutional funding base of UsPlus following the USD 10 million debt capital raise completed by Verdant Capital in 2022 and building on the Domestic Medium Term Programme registered on the Johannesburg Stock Exchange.
Studies show that SMEs contribute close to 30% of employment in South Africa, but most of these SMEs do not survive beyond 5 years due to a number of causes, of which lack of funding is a leading factor. Most SMEs are self-funded and struggle to access funds at various stages in their operation. The South African government, under its National Development Plan 2030, is looking to SMEs to help achieve its objective of creating 11 million jobs by 2030. Against this backdrop, UsPlus has been operating since 2015, specialising in the provision of tailor-made working capital finance solutions to SMEs through the purchase of transferable instruments such as invoices, purchase orders and contracts issued by or to its SME clients. This convenient and cost-effective solution gives SMEs access to funding to manage working capital and maximise profits. Verdant Capital has acted as an important catalyst for funding SME clients in South Africa and across the African continent.
Since its establishment, UsPlus has deployed over ZAR 3.7 billion (approx. USD 196 million) in working capital to SMEs. Its clients are actively engaged in over 25 industries, including agriculture and film production. UsPlus focuses on social, economic and environmental impact and works with SMEs that contribute to employment in South Africa, the upliftment of black-owned enterprises, women-owned enterprises and rurally located enterprises. Furthermore, the company is guided by the International Finance Cooperation's Exclusion List and does not support businesses which operate within this list. UsPlus' success stems from its highly experienced management team and technology-enabled operations, which 1) help meet customers at their point of need, 2) enhance client service experience, and 3) help manage business risk.
Verdant Capital has a strong funding pipeline for UsPlus which will continue to support the successes of the business.
Verdant Capital was the sole advisor and arranger of UsPlus' International debt capital raise.
Distributed by APO Group on behalf of Verdant Capital.
Media enquiries:
Verdant Capital:
Liezel van Greunen,
T: +27 10 140 3700
E: liezel.vangreunen@verdant-cap.com
About Verdant Capital:
Verdant Capital is a leading investment manager and investment bank specialising in the private capital markets and operating on a pan-African basis. Verdant Capital is the manager of the Verdant Capital Hybrid Fund. www.Verdant-Cap.com.
African Export-Import Bank (Afreximbank) (www.Afreximbank.com) is pleased to announce that its board member, Mr. Ronnie Ntuli has been awarded the Progressive Business Forum's (PBF) prestigious Lifetime Achievement Award and was presented with the accolade at the Presidential Gala Dinner and special celebrations that marked three decades of democracy in South Africa.
The award, which was presented at the PBF's inaugural “Show Up” awards ceremony, recognizes and celebrates individuals who have distinguished themselves in business, public service and, through their commercial, entrepreneurial and civic ventures. It also recognizes those who have acted to improve the common good and promote the wellbeing of others.
Mr Ntuli's receipt of this award constitutes a recognition of his extraordinary contribution to the expansion of Southern Africa's rail network and his application of engineering expertise to continental transport and logistics assets. Mr Ntuli founded and established the Thelo Group, as one of the continent's eminent financiers of railway infrastructure and rolling stock, and the region's most significant supporters of industrial development and high-value exports.
Further to these economic contributions, Ronnie has served his country and continent through extensive advisory work for a range of African Heads of State, where he has leveraged his unrivalled financial and engineering experience – as well as his background in Law – to help decision-makers devise policies and strategies to accelerate economic development and entrepreneurship.
Afreximbank President and Chairman of the Board of Directors, Prof. Benedict Oramah, commented:
I am delighted that my dear friend, and much-trusted advisor on Afreximbank's Board, Mr. Ronnie Ntuli, has been recognized by the Progressive Business Forum for his decades of work on this continent. As both businessman and advisor, Ronnie's contribution to our shared prosperity and development is quite simply incalculable. His counsel has been indispensable to the Bank, particularly as we navigated the challenges of implementing the African Continental Free Trade Area agreement.”
Distributed by APO Group on behalf of Afreximbank.
About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of September 2023, Afreximbank's total assets and guarantees stood at over US$33.4 billion, and its shareholder funds amounted to US$5.8 billion. The Bank disbursed more than US$104 billion between 2016 and 2023. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
Congratulations on the new black keypad upgrade for your Amanzi prepaid water meter! This sleek addition not only enhances your home’s aesthetics but also empowers you to take control of your water usage like never before. But before you dive into the crystal-clear waters of convenience, let’s guide you through the pairing process, making sure […]
By Shakeel Jhazbhay, General Manager, Digital Business Solutions at Datacentrix JOHANNESBURG – 23 January, 2024 – In the ever-evolving realm of educational technology, Generative AI (GenAI) is emerging as a transformative force poised to reshape the education sector. However, exploring the benefits and drawbacks of GenAI is crucial for a comprehensive grasp of its suitable …
The company received this news as the final sales statistics for 2023 were tallied and validated. It shows that Chery sold twice as many vehicles in 2023 as in 2022 and that it is the second best-selling brand among SUV customers. “We are very happy with the news that Chery is one of the most …
Many small businesses are found to be still running their businesses from their personal accounts. Business Development Manager at FNB Commercial, Francinah Phalatsi, says “The misconception is that running your business together with personal finances has the potential to save you money and spares you the hassles of opening and running separate bank accounts. However, …
Living in a beautiful town like Cradock comes with its own set of joys and challenges. While the Eastern Cape town boasts stunning scenery and a rich historical tapestry, managing water usage, especially with unpredictable rainfall patterns, can be a concern. That’s where prepaid water meters come in, empowering residents to take control of their […]
“Across the Western Cape, and especially in Cape Town, our expectations of a record-breaking summer season have been realised. This is excellent news for our provincial economy and for the hundreds of thousands of jobs supported by tourism in the province” announced provincial Minister of Finance and Economic Opportunities, Mireille Wenger, today. “Last week we …
Clairfield International, a top-ranked Europe-based global corporate finance partnership, and Rand Merchant Bank (RMB) (www.RMB.co.za), a division of FirstRand Bank Limited (part of FirstRand Limited, the largest financial services group by market capitalisation in Africa), are delighted to announce that they formally agreed to partner, marking both firms' commitment to global expansion and delivery of top-quality corporate finance advisory solutions for clients.
This partnership will position RMB as the gateway for Clairfield clients into South Africa, Nigeria, and the broader sub-Saharan African market, while Clairfield opens doors for RMB into Europe, the Americas, and the Asia-Pacific region. Following from Clairfield's successful partnership with top Japanese advisory firm Yamada Consulting in 2023 that covers Japan and the Association of Southeast Asian Nations, this new access to sub-Saharan Africa creates unparalleled coverage for midmarket corporate, private equity, and family business clients worldwide.
Clairfield International advises entrepreneurs, multinational corporations, and financial investors on M&A and other corporate finance solutions with special expertise in cross border situations through over 30 country teams globally. Clairfield International has completed 780 transactions on behalf of clients in the last five years totalling EUR 30 billion in disclosed deal value.
“We are optimistic about Africa's long-term growth, driven by technology, the high demand for infrastructure and rapid urbanisation, and we are eager to explore business opportunities across the continent. RMB has a corporate finance team of over 70 people, and with their reach and expertise on the ground, Clairfield can vastly expand its client offerings across sub-Saharan Africa,” says Alexander Klemm, Executive Chair of the Clairfield board of directors. “This partnership is a transformative step for both firms, enhancing our global footprint. Together we can access exciting global deal flow, buyers, and investors for our clients.”
RMB's award-winning corporate finance team partners local and global clients offering differentiated advice and innovative thinking on strategic topics as well as access to capital to enable their growth ambitions. RMB Corporate Finance has an unrivalled track record in corporate finance advisory in sub-Saharan Africa and is consistently the top-ranked advisor in the league tables in South Africa and Nigeria.
“This partnership underscores our commitment to building an M&A advisory capability that is internationally relevant to our clients,” says Krishna Nagar, Co-head of Corporate Finance at Rand Merchant Bank. “The increase in M&A activity across Africa positions us favourably with companies seeking global opportunities and expertise. Our collaboration with Clairfield has already proven fruitful as interest from Clairfield clients is evident in our mandates. We look forward to a continued partnership and access to Clairfield's expertise in developing and facilitating that global deal flow.”
Distributed by APO Group on behalf of Rand Merchant Bank.
About RMB:
Rand Merchant Bank (RMB) is a leading African corporate and investment bank (CIB) and part of the largest financial services group (by market capitalisation) in Africa – FirstRand Bank Limited (which is wholly owned by FirstRand Limited). We offer our clients innovative, value-added advisory, funding, trading, corporate banking, and principal investing solutions.
With a presence in 10 African countries, we have a significant footprint on the continent. We also have access to a network of retail banks, representative offices and branches across Africa, the UK, India and the US.
For more information visit: www.RMB.co.za
About Clairfield International:
Founded in 2004, Clairfield International provides advisory services on middle-market transactions for large companies, private investors and private equity, public sector clients, and family businesses. Headquartered in Europe with locations in every major region worldwide, we offer clients access to corporates, investors, key decision-makers, and sector experts, combined with a deep understanding of local regulations and cultures. Closing over 190 transactions annually, Clairfield ranks as one of the top independent M&A advisors in league tables worldwide.
For more information visit: www.Clairfield.com
Liquid Intelligent Technologies (Liquid) (https://www.Liquid.Tech/), a business of Cassava Technologies, a pan-African technology group, proudly announces its attainment of the Cisco Gold Certified Partner certification level for its South African operations. Liquid SA is now one of a few select partners in Africa to achieve this milestone, joining an elite group of system integrators with proven expertise and competency in Cisco technologies and solutions.
“The Cisco Gold Certification is another validation for our customers as we continue to be the digital service provider of choice for businesses in South Africa. This certification reflects our team's expertise and commitment to meeting the highest industry standards. While this is an accomplishment for Liquid SA, it is a win for our customers, who will reap the benefits of higher levels of expertise, access to advanced technologies, comprehensive support, and the assurance that they are working with a partner that has a proven track record in delivering Cisco solutions,” says Deon Geyser, CEO of Liquid Intelligent Technologies South Africa.
The Gold Certification confirms that Liquid SA will deliver superior service and support capabilities, underpinned by an extensive evaluation process. The certification also ensures that customers are supported by a team of ISO quality-level personnel proficient in delivering network and managed services.
"For us, collaboration and the power of partnerships is what drives innovation to meet evolving customer needs. This milestone not only reflects the dedication and expertise of Liquid Intelligent Technologies but also exemplifies a shared commitment to advancing network services in South Africa. We are proud to partner with a company that upholds the highest standards of excellence, and together, we look forward to shaping the future of connectivity for South African customers with cutting-edge solutions and unparalleled service deliver,”says Hayward Rose, Partner Channel Lead for Sub-Saharan Africa at Cisco.
While these services are available with immediate effect to existing and potential Liquid SA customers, the Gold Certification represents a culmination of years of successfully delivering Cisco projects and services as part of the company's goal to enhance its customers' experience on their digital journey, while ensuring that no African business is left behind.
Distributed by APO Group on behalf of Liquid Intelligent Technologies.
About Liquid Intelligent Technologies:
Liquid Intelligent Technologies is a business of Cassava Technologies, a pan-African technology group with operations in over 25 countries in Africa. Liquid has firmly established itself as the leading provider of pan-African digital infrastructure with a 110,000 km-long fibre broadband network and satellite connectivity that provides high-speed access to the Internet anywhere in Africa. Liquid is also leveraging its digital network to provide Cloud and Cyber Security solutions through strategic partnerships with leading global players. Liquid is a comprehensive technology solutions group that provides customised digital solutions to public and private sector enterprises and SMEs across the continent. For more information, visit https://www.Liquid.Tech/.
About Cisco:
Cisco is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more on The Newsroom (https://apo-opa.co/47zxJ9i) and follow us on X at @Cisco (https://apo-opa.co/3u7sRKK).
The Vodacom Group has been ranked by the Top Employers Institute as the continent’s number one employer. This prestigious certification and first place ranking has also been awarded to Vodacom South Africa and Vodacom Mozambique. Each year, the Top Employers Institute certifies organisations who are focused on putting their people first through exceptional Human Resource …
For many years, commercial property investment was almost entirely limited to institutional investors. These days, however, more and more private investors are recognising the potential of the commercial sector. “The higher deposit requirements due to banks only offering around 60 to 70% bonds on commercial properties, can seem a steep point of entry for individual …
More than 1,000 new production jobs added since Vertiv acquired E+I Engineering in November 2021 Columbus, Ohio [January 17, 2024] – Vertiv (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, today announced that the company has increased capacity of its switchgear, busway and integrated modular solutions (IMS) business by more than …
For many companies throughout industry, a tough economic climate in recent years has inevitably meant tightening their belts and looking for more cost-effective products and services. This is why First Cut – a leading distributor of cutting, welding and grinding consumables and equipment – has met halfway with suppliers to ensure that cost-effective products are …
As we head into 2024, the renewable energy sector is set to see innovation that will transform the way energy is accessed, stored and deployed across Africa. Paul van Zijl, Group CEO at Starsight Energy (https://StarsightEnergy.com/), discusses 4 key trends that he thinks will profoundly shape the industry over the next year.
Batteries will provide benefits far beyond backup for behind-the-meter projects
One of the most significant shifts in solar technology revolves around the integration of battery energy storage systems (BESS) – especially for behind-the-meter solar (also known as onsite solar). Traditionally, batteries were seen primarily as backup storage when paired with a solar system, ensuring a steady power supply during cloudy days, nighttime or when the grid is unavailable. However, in 2024, the focus is vastly shifting towards load management, where batteries play a dynamic role in optimising energy consumption.
As the trend for the deployment of batteries across the continent grows, cutting-edge management systems will become a key part of solar installations with an integrated battery component. These systems use advanced algorithms to predict energy demand patterns. This allows for the strategic use of battery storage – discharging it during expensive peak times and charging it using solar energy or the grid during off-peak – to reduce the costly demand charges that come with variable tariff structures. Along with enhancing the efficiency of solar systems, integrated battery storage solutions can also contribute to grid stability by reducing strain during high-demand periods.
When it comes to front-of-the-meter (or offsite) storage, BESS is also set to play a bigger role in the deployment of utility-scale renewable energy technology like wheeling - where power is generated at an offsite location (like a solar or wind farm) and transported using the available power network to different off-takers.
In South Africa for example, the national energy provider Eskom announced the deployment of around 343 MW in BESS projects as part of an overall 500 MW BESS initiative aimed at addressing the country's long-running electricity crisis. The systems will be in remote areas (with limited access to Eskom's network) but still close to renewable energy plants built by independent power producers (IPPs).
This collaboration between the public and private sectors supports more widespread deployment of utility-scale power and the adoption of renewable energy projects. By adding battery storage components to the national grid, businesses and consumers can gain quicker access to reliable electricity while the power utility can address peak energy demands more easily. This also ensures that the increasing amount of power generated from utility-scale solar projects can be stored and consumed outside of daylight hours to avoid stranded grid capacity.
Data, banking and tourism: The rise of sustainable off-grid solar solutions
Off-grid renewable energy solutions, including stand-alone systems and mini-grids, offer a unique opportunity to expand modern energy access services. The distributed nature of these systems allows them to be tailored to local conditions, tap into available renewable resources, deliver diverse energy services, and utilise local capacity to ensure long-term sustainability.
We will see a rise in these solutions as more and more commercial and industrial businesses realise the value of effectively moving off-grid. This will be prevalent in three industries:
Data centres: Africa is a global hub for data centres. According to research from African Infrastructure Investment Managers (AIIM), there is around 250 MW of installed data centre capacity across Africa – with the demand for centres in Africa expected to exceed supply by 300% by 2030. These powerhouses of technology rely heavily on a steady and safe electricity supply. From operating to maintaining their vast cooling systems, large data centres simply can't afford the risk of a grid collapse or any possible power interruptions. Power autonomy is the name of the game here, making battery storage a necessity from the get-go.
Banking: While the prevalence of mobile financial services continues to soar on the continent, there is still a tangible need for brick-and-mortar banks and ATMs in countries where access to these services remains essential. These sites need to remain operational should there be any sort of grid collapse or catastrophic power failures - making an off-grid solution a non-negotiable component of the future of banking in Africa.
Tourism: With the rise of conscious consumerism and eco-tourism, sustainability is fast becoming the differentiating factor for discerning travellers choosing their next holiday destination. Luxury lodges in popular destinations in East and Southern Africa are fast moving towards fully off-grid solar battery operations to offer their guests uninterrupted access to power while boosting the lodge's green credentials in the process.
As more and more businesses become aware of the benefits of off-grid solar, it is likely that we will see an even greater adoption of this technology in the coming year.
Seamless access to renewables through a reimagined aggregation model
We will certainly see a shift towards aggregated solutions, wherein energy providers will consolidate diverse technologies and services into comprehensive packages in 2024. This trend is driven by the recognition that a holistic approach to energy solutions is not only more convenient for consumers but also more effective in optimising energy production and consumption.
This can be done in several ways. For example, trading of electricity in South Africa allows a service provider of solar energy to buy and sell, excess wind energy without having to invest substantial capital expenditure amounts. Similarly, instead of having gas-powered energy compete with renewable energy, the aggregation model will also allow providers of such services to aggregate their energy solutions and provide the client with a holistic offering. The goal is to provide consumers with a seamless and integrated final product that maximises the benefits of renewable energy across various aspects of their daily lives. The real value for customers lies in a collaboration of providers who can meet their specific needs and power the entire energy lifecycle.
Tackling complexities through an increasingly consolidated sector
As the solar industry matures, a trend towards consolidation will become increasingly evident in 2024. Larger energy companies will consider merging or acquiring smaller players, creating more robust and diversified entities. This consolidation is driven by the desire to achieve economies of scale, increase market share, and foster innovation by pooling resources and expertise.
Consolidation in the industry is not limited to manufacturers but extends to service providers, research and development firms, and energy management companies. By joining forces, these entities can tackle the complexities of the evolving energy landscape more effectively, driving down costs and accelerating the adoption of alternative energies across the continent.
This trend is fostering the emergence of holistic service providers capable of providing end-to-end solutions that address the diverse needs of businesses, consumers and communities. Our recent market-milestone merger between Starsight Energy (https://StarsightEnergy.com/) and SolarAfrica (https://SolarAfrica.com/) is a case in point. Customers in Eastern, Southern and Western Africa can access our comprehensive mix of cost-effective solutions that provide power security and carbon reduction. These include solar energy, battery storage, wheeling, and energy management, among others.
The future is bright. If 2023 was anything to go by in terms of transformation for the energy sector, 2024 will be marked by accelerated innovation and a collective commitment to harnessing the full potential of renewable energy that holds the promise of a more resilient, more sustainable, and more tightly connected energy future for Africa.
Distributed by APO Group on behalf of Starsight Energy.
British American Tobacco (BAT) is one of the top 5 dividend earners on the JSE. British American Tobacco (BAT) primarily invests in products related to the tobacco industry, though they are making strides towards diversifying their portfolio. Here’s a breakdown of their product categories and the profit they generate: Tobacco Products: Cigarettes: The core of …
Fractional share investing is a way to buy tiny portions of a company’s stock, instead of needing to buy whole shares. Imagine a slice of pizza: instead of buying the entire pizza (one whole share), you can just buy a slice (a fractional share). In South Africa companies like Easy Equities are masters of the …
Investing in the stock market has traditionally been associated with hefty sums and the ability to buy entire shares of your desired companies. However, platforms like Easy Equities are shaking things up by making ownership accessible to everyone through fractional share purchasing. Let’s delve into the exciting world of part stock investing and unpack the …
Fabricating six massive reactors that are over three stories high in Gauteng and then transporting these more than 2 500 kilometres to a mine in the Democratic Republic of Congo (DRC) – where all 3265 parts fitted perfectly, with not even one of the 26 900 bolts out of place – is a massive achievement. This …
The Organisation Undoing Tax Abuse (OUTA) believes that it is of utmost importance to ensure that the SABC has strong legislation and policies that govern it to enable the entity to restore public trust and to guarantee editorial independence. It is an undeniable fact that the SABC has been plagued, for years, by financial instability …
British American Tobacco (BAT), the tobacco giant, remains a controversial yet alluring option for income-seeking investors. Its high and consistent dividend yield beckons, but navigating the ethical considerations and regulatory headwinds requires careful thought. Here are some strategies to consider when investing in BAT: For Dividend Hunters: Direct Buy and Hold: The classic approach: directly …
