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Celebrating two years of dynamic collaboration, Chery South Africa and the Absa RUN YOUR CITY Series proudly announce a strengthened partnership for 2024. Coinciding with the second-anniversary milestone since Chery’s relaunch in South Africa, this renewed commitment reflects the success and shared vision that have defined the union between Chery and the acclaimed road running …
The development of rural tourism gives visitors a unique experience beyond the traditional sites. On the KZN South Coast, the Agri Tourism Route is one such offering, with the farmlands offering a chance for outdoor adventure and home-grown tastes. Now, the KZN South Coast has another addition to its popular Agri Tourism Route with the …
Solidarity, tolerance and dialogue needed on Middle Eastern conflict
President Cyril Ramaphosa has called for solidarity, tolerance and dialogue in the Israeli-Palestinian conflict currently raging on in the Middle East.
Some 1 200 people in Israel and a further 11 000 in Gaza have been killed since the beginning of the conflict on October 7.
In his weekly newsletter to the nation, President Ramaphosa acknowledged that the conflict has elicited “strong emotions” from those in support of both sides but cautioned that this must not be allowed to divide South Africans.
“As the bombardment of Gaza continues, there have been pro-Palestinian demonstrations around the world, as well as those expressing solidarity with Israel. There have been a number of such events in our own country, convened by civil society organisations, political parties and religious groupings.
“For some, the murder of Israelis and the abduction of hostages on 7 October has further hardened sentiment that Israel has the right to use whatever means at its disposal to defend itself. At the same time, there are others who view the collective punishment of the people of Gaza by the Israeli government as a war crime.
“The conflict between Israel and Palestine has long been a polarising conflict that has deepened divisions in societies and communities way beyond the Middle East. Yet no matter how strong our views on this matter, we must guard against this conflict turning us against each other as South Africans,” he said.
The President called on South Africans, who choose to demonstrate on the conflict, to defer from confrontations with those who oppose their views and commended those who “participated in orderly and peaceful demonstrations in several parts of our country”.
“Our Constitution protects everyone’s right to freedom of opinion and expression, to freedom of association and to demonstrate. It also requires that all demonstrations must be peaceful and that freedom of expression does not extend to the advocacy of hatred based on race, ethnicity, gender or religion that constitutes incitement to cause harm.
“There is no place in South Africa for violence or threats of violence against those who hold contrary views. Nor is there any place for any form of prejudice, racism or chauvinism. As emotive as the Israel-Palestine issue may be for many of our citizens, particularly given our own history of discrimination and oppression, we must not let it deepen divisions between us,” President Ramaphosa said.
Rejecting anti-Semitism
President Ramaphosa firmly denied any accusations that the South African government is brewing anti-Semitic rhetoric in the country.
“Successive democratic administrations have upheld the constitutional rights of all individuals and groups in this country. We have enforced these rights through our courts, including the Equality Court, and through institutions like the South African Human Rights Commission, the Commission for the Promotion and Protection of the Rights of Cultural, Religious and Linguistic Communities, and others.
“It was disappointing therefore to read an article in a leading Israeli newspaper by a representative of a local Jewish organisation suggesting that our government is ‘encouraging pogroms’ against the South African Jewish community. This has never happened in the history of democratic South Africa, nor will it ever be allowed to happen,” he said.
The President emphasised that government’s position on the freedom of the Palestinian people does not translate into anti-Semitism.
“As a government and as a people, we stand firm in our call for justice for the oppressed Palestinian people, for their rights and aspirations to be fulfilled, for the immediate cessation of hostilities, and for there to be accountability for the deplorable killings of civilians in this recent conflict. We maintain that peace will not be possible until Palestinians are free.
“Yet, support for the Palestinian struggle cannot be equated with anti-Semitism. There is no place in our society for anti-Semitism, just as there is no place in our country for prejudice directed against any individual or community on the basis of race, religion, belief, political view or sexual orientation,” he said.
President Ramaphosa insisted that South Africa’s democracy, differing and divergent views are “respected and protected” by the law and citizens’ right to “advocate and demonstrate peacefully, be they pro-Israel or pro-Palestinian, will continue to be upheld.
“As a people with our own painful history of discrimination, racism and prejudice, let us remember our personal duty to be tolerant and respectful of others.
“Let us promote dialogue and meaningful engagement so that, as South Africans, we may work together to support the realisation of just, peaceful and secure future for the people of both Palestine and Israel.
“Above all, let our painful history be a reminder of the heavy cost of a divided nation that has turned against itself. When it comes to freedom, equality and justice, we must be at one,” President Ramaphosa said. – SAnews.gov.za
NeoB
Mon, 11/20/2023 - 10:38
Paul Terna Gbahabo is a research consultant and a PhD graduate in Development Finance at Stellenbosch Business School. Africa, a continent of immense potential, stands at a critical juncture. The call for an industrial revolution is not merely a suggestion but an economic imperative. Africa desperately needs an industrial revolution. Though daunting, it is not …
Initiative seeks to combat alien species
Government has launched a five-year programme worth R2.67 billion to implement the Working for Water Programme, which aims to eradicate invasive alien plants in communities.
Addressing the launch of the Gauteng Working for Water Environmental Programme in Heidelberg, Minister of Forestry, Fisheries and the Environment Barbara Creecy said over the next five years the department aims to create 38 839 work opportunities every year primarily in rural communities.
"Biological invasions by alien plants is a major threat to biodiversity and ecosystem services, water resources and sustainable livelihoods. Invasive species exacerbate floods, droughts and wildfires, and have negative impacts for the forestry and agriculture sectors.
“In short, biological invasions will exacerbate the effects of context of climate change and the extreme weather events associated with global warming. It is for this reason our department is happy today to announce this five-year programme to combat alien species and the damage they do to our land, wetlands and rivers,” Creecy said on Friday.
The South African National Biodiversity Institute’s (SANBI) 2019 Report on Biological Invasions details the impact of invasive species on South Africa’s biodiversity and economy.
Invasive trees use 3-5% of South Africa’s runoff water every year, which is a significant loss for a water-scarce country.
"Many species of invasive plants are also less drought-resistant than indigenous ones and pose a greater fire risk. By displacing indigenous species and creating single species plantations, alien invasive also undermine our country’s rich biodiversity, which in turn negatively impacts our tourism potential.
“Invasive species also interfere in natural processes that can help mitigate the effects of natural disasters through the provision of ecosystem services, examples being the role estuaries, wetlands and indigenous forests play during natural disasters such as cyclones and floods.
“Thus, by clearing waterways and managing the spread of invasive species we are restoring natural habitats and simultaneously restoring ecosystem services that will assist us in the fight against the effects of climate change,” the Minister said.
To ensure sustainable clearing of alien species on a regular basis as well as sustained public employment, the department has made its contracting over a longer five-year period, as opposed to short-term contracts in the previous cycle.
For local small enterprises in rural communities, this also offers a reliable revenue that can assist the enterprises to invest their businesses to ensure future opportunities.
“This means that the Working for Water Programme is growing and is advancing the inclusion of previously disadvantaged enterprises to participate more meaningfully in the value chain of clearing invasive alien species. In this way the Working for Water Programme advances transformation and prioritises the inclusive economy policies of government,” the Minister said.
The department has committed R2.67 billion to clear hectares while creating 194 195 work opportunities over a five-year period.
“Today marks the launch of the Gauteng Working for Water Programme to the value of R152 million to implement projects across the five Gauteng municipalities namely, the City of Tshwane, City of Joburg, West Rand, Sedibeng, and the City of Ekurhuleni.
“In Gauteng, the Working for Water Programme will clear 74 781 hectares over a period of five years, starting from 2023/2024. During this five year period, we are aiming to create 13 615 work opportunities through the EPWP model,” the Minister said.
The department also collaborates with the South African National Parks (SANParks) to implement the Working for Water Programme.
SANParks has been allocated R 947 710 million to create 90 710 work opportunities through clearing 431 237 hectares over a five year period. – SAnews.gov.za
nosihle
Fri, 11/17/2023 - 11:19
PRASA initiative offers commuters fare discounts
The Passenger Rail Agency of South Africa (PRASA) has introduced the #TravelOffPeak campaign, an initiative aimed at promoting travel during off-peak by providing attractive fare discounts to commuters.
“Recognising the importance of promoting reliable transit not only during the weekday rush hours but off-peak too, PRASA is pleased to offer various off-peak discounts across all its operational routes starting from 13 November 2023.”
PRASA GCEO Hishaam Emeran explained that the initiative is part of the organisation’s commitment to encourage the public to use Metrorail services not only during peak hours but also during off-peak periods.
"This is a significant step towards enhancing the commuter experience and saving commuters money by paying lower fares. By choosing to travel during off-peak, commuters will not only enjoy a quieter and relaxed journey but contribute to a more evenly distributed and efficient use of our transportation infrastructure," Emeran said.
Fares are discounted as follows:
These off-peak discounts are applicable between 09h30 and 14h30 weekdays, and during weekends and public holidays.
“PRASA wishes to remind commuters to check their eligibility for discounted fares ahead of their journey. All tickets will be valid on the day of purchase and at off-peak hours.
“It is crucial to note that these tickets should not be used during peak hours, except for scholars in school uniforms, whose tickets remain valid for the entire day.
“PRASA invites commuters to #TravelOffPeak and save while enjoying a more comfortable and cost-effective travel experience to their various destinations,” the agency said. – SAnews.gov.za
nosihle
Thu, 11/16/2023 - 10:24
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SA can expected heat waves this summer
South Africa can expect warmer than normal conditions, with a high chance of the occurrence of heat waves over the interior during the summer season of 2023-2024.
“Temperature wise, the likelihood for warmer than normal conditions is high, with the highest chance over the interior regions of South Africa. From this prediction, it can be inferred that there is a high chance of the occurrence of heat waves over the interior,” South African Weather Service (SAWS) Lead Scientist: Long Range Prediction, Dr Christien Engelbrecht, said on Thursday in Pretoria.
He said South Africa will be affected by the El Niño during the summer season of 2023-2024.
“El Niño events are typically warmer and drier over southern Africa during the summer months. However, current seasonal predictions indicate uncertainty for the typical drier conditions over the north-eastern parts of the country where the current prediction indicates low probabilities for above-normal rainfall.
“Over the remaining parts of the country below-normal rainfall is predicted. Current predictions of the El Niño event indicate that it can become a strong event during the mid-summer months,” Engelbrecht said.
As SAWS continuously monitors the development of El Niño-Southern Oscillation (ENSO), Engelbrecht advised the public to follow the monthly updates of the seasonal prediction as the El Niño event can still manifest its influence and change the outlook of the rainfall prediction to become more in favour of below-normal rainfall.
“It is also strongly advised to follow regular updates of the short-term weather forecasts as well as the observed climatic conditions,” he said.
Following Monday’s severe thunderstorm in parts of Gauteng and Mpumalanga, SAWS explained that it was not an unusual event that can only be attributed to climate change.
Monday’s thunderstorm unleashed a hailstorm in the City of Johannesburg in Gauteng and a tornado in the Lekwa Local Municipality in Mpumalanga.
In the Johannesburg area, Midrand was the hardest-hit, with damages that included shattered windshields of motor vehicles and broken windows of residences.
“Isolated incidents cannot be directly attributed to climate change. An increased probability of ‘normal’ severe weather events is most likely to be the result of climate change. However, this does not mean that specific severe weather events can solely be attributed to climate change. Specifically, the storm in question occurred due to a range of factors favourable for its development,” SAWS Senior Manager: Disaster Risk Management, Tshepho Ngobeni said.
On Monday morning, SAWS issued a Yellow Level 2 impact-based warning, or a high likelihood of minor impacts, for severe thunderstorms for districts and metropolitan municipal areas such as Govan Mbeki District in Mpumalanga and the City of Johannesburg. – SAnews.gov.za
nosihle
Thu, 11/16/2023 - 14:08
SAWS warns of severe thunderstorms
The South African Weather Service (SAWS) has issued a warning for severe thunderstorms resulting in strong, damaging winds and possible large amounts of small hail.
This is expected to cause damage to infrastructure, flooding, damaging winds over the North West, Gauteng, north eastern parts of the Northern Cape, Free State and south western KwaZulu-Natal.
“This warning remains valid until 11pm tonight. In addition, a Yellow Level 1 warning for severe thunderstorms was issued with damaging winds and hail expected over the northern and eastern parts of the Eastern Cape.
“On Friday and Saturday, we expect showers and thundershowers over the central interior extending to the east,” SAWS Senior Manager: Disaster Risk Management, Tshepho Ngobeni.
He was addressing a media briefing in Pretoria on Thursday.
“South Africa, like many other countries across the globe, is prone to hazardous weather events. These include heavy rainfall, severe thunderstorms, droughts, floods, storms and wildfires. Consequently, the need for the people of South Africa to be WeatherSMART cannot be stressed enough.”
He said a WeatherSMART person is safe, more informed, alert, resilient, and has timely access to relevant information and services where matters of weather and climate are concerned. – SAnews.gov.za
nosihle
Thu, 11/16/2023 - 14:40
“We are a diverse group of South African Jews who are dismayed by the situation that is unfolding in Israel and Palestine”
SA, Qatar bolster relations
President Cyril Ramaphosa has deemed his visit to Qatar as significant, saying it serves as an opportunity to discuss and share views on the recent international developments.
“This visit is very significant, not only as an opportunity to strengthen bilateral relations between our two countries, but also to share views on recent international developments.
“The events in Palestine, and the growing deaths of civilians, particularly children, grieves us all. South Africa supports all efforts to secure an immediate and full ceasefire, with talks on a political solution to address the legitimate aspirations of the Palestinian people for statehood,” President Ramaphosa said.
The President was delivering remarks at the Qatar - South Africa Business Roundtable in Doha, Qatar, on Wednesday.
President Ramaphosa is currently on a two-day State Visit in Qatar at the invitation of His Highness Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar.
The visit occurs in the context of three decades of diplomatic relations. The two countries will celebrate the 30th anniversary of establishing diplomatic relations on 11 May 2024. This is President Ramaphosa's first visit to the State of Qatar as Head of State.
President Ramaphosa told the roundtable that while the political relationship between the two countries is strong, much more can be done with each other in areas of trade, investment and economic development.
“For this reason, I am particularly pleased that I have had an opportunity to engage with both the Qatari Business Association and the Qatar Chamber of Commerce earlier. I want to point to five features of the South African economy that offer us the opportunity to build and expand our economic relationship,” he said.
Firstly, the President highlighted that South Africa is Africa’s most industrialised economy with well-established companies.
He told the roundtable that many of these companies are active in the Middle East and Qatar. The President mentioned companies like Sasol in the petro-chemical sector with its advanced technologies and iconic consumer brands such as Nandos and Ocean Basket.
“South African has well developed manufacturing and services sectors. South African agriculture and agro-processing companies are world class, and we can support the Food Security Program of the State of Qatar.
“Beyond these, South Africa is developing its expertise in areas such as pharmaceuticals, the space industry and advanced manufacturing,” he said.
Secondly, the President said South Africa is developing greater market access across the world.
He mentioned that the country has free trade agreements in place with the European Union and the United Kingdom and is about to implement the African Continental Free Trade Area, uniting 54 economies into a large tariff-free market intended to cover 1.3 billion consumers.
In addition, South Africa currently has access to the US market on preferential terms through the African Growth and Opportunities Act (AGOA) and preferential access to certain Latin American markets.
Thirdly, President Ramaphosa emphasised that the African continent has vast resources of critical minerals that will be used as the world embraces cleaner, greener growth.
With Qatar’s experience, technology and capital in the petrochemicals, natural gas and energy infrastructure, President Ramaphosa said government is looking to companies from Qatar partnering with South Africa as it implement its just energy transition.
Fourthly, the President highlighted that the country is embarking on far-ranging economic reforms that provide opportunities for partnerships between foreign investors and domestic firms in South Africa.
He said the energy market is being restructured. The public electricity utility, Eskom, which faced severe challenges, has improved maintenance of its generation fleet and has received debt relief from the State to strengthen its financial position.
“Private energy generation, specifically in renewables, constitutes a growing share of total energy generated. Since the implementation of regulatory changes, the pipeline of private sector generation projects has increased to over 100 projects representing more than 10,000 MW of potential new capacity,” he said.
Fifthly, the President told the business roundtable that the country has a stable legal system, strong protections of property rights, a deep capital market with Africa’s largest stock exchange, and a growing pool of skilled employees.
“South Africa is ready to build partnerships for faster, sustainable and inclusive growth. South Africa is keen to deepen our bilateral relationship with Qatar. We look forward to partnering in sectors such as agro-processing, automotive, aquaculture, manufacturing, hydrocarbons, infrastructure, hospitality and tourism, to mention a few.
“I invite Qatar to join us in developing a portfolio of South African investments that your sovereign wealth fund and your private sector can participate in,” the President said.
President Ramaphosa commended the business delegations from South Africa and Qatar for their engagement, adding that he look forward to successful outcomes. – SAnews.gov.za
DikelediM
Wed, 11/15/2023 - 15:20
MultiChoice Group (MCG, or the group) (www.MultiChoice.com), Africa's leading entertainment company, executed well on its operational objectives during the six months ended 30 September 2023 (1H FY24).
Building on its track record of investing in technology to be ahead of the curve, and to accommodate shifts in consumer video consumption trends to support future growth, the group continued to transition strategically with an increased investment in Showmax, ahead of an exciting re-launch in the second half of this financial year.
“We remain focused on developing our leading entertainment platform that caters for consumer needs across sub-Saharan Africa, on leveraging our footprint to build a differentiated ecosystem and on developing additional revenue streams,” says Calvo Mawela, Chief Executive Officer.
The overall excitement around three world cups, culminating in the Springboks emerging victorious as back-to-back Rugby World Cup champions, supported subscriber activity. A highlight of the interim period was the South African Premium customer base, which grew 5%, a positive trend for the first time in many years.
Although profitability came under pressure due to ongoing power interruptions, cost of living pressures and sharp depreciation in local currencies against the US dollar, the impact was mitigated by a change in focus towards subscriber retention, an improved customer mix, as well as ongoing pricing and cost saving disciplines to protect the resilience of the business. As a result, the group maintained a positive trading profit margin of 3% in the Rest of Africa (a ZAR2.2bn organic improvement YoY) and delivered a 31% trading margin in South Africa.
Salient points for the 1H FY24 period included:
The group continued to deliver compelling local content and enable its audiences to access internationally renowned entertainment shows. Playing a vital role in supporting and developing the continent's wider video entertainment industry, it has increased its spending on local content by 16% YoY, taking its local content library to almost 80,000 hours. Going forward, the group plans to enhance the monetisation of each hour of content produced by leveraging both its linear and streaming platforms.
Several new titles were launched to maintain strong momentum in leading local language programming. In addition to the successful debut of Shaka iLembe on Mzansi Magic; Gqeberha: The Empire replaced The Queen in its time slot; and Umkhoka: The Curse continued to grow in viewership and social media engagement during the period. M-Net launched the higher-end series 1802: Love Defies Time on 1Magic. kykNET introduced a new medical procedural drama, Hartklop, and a new cooking reality show, Kokkedoor: Vuur & Vlam, both of which commanded strong audience share. Big Brother Naija entered its eighth season, delivering record advertising revenues in local currency.
Following on from the success of the FIFA World Cup in FY23, SuperSport yet again demonstrated its ability to deliver an exceptional sport offering, successfully broadcasting three World Cup events in the period — the FIFA Women's World Cup, the Netball World Cup and the Rugby World Cup — followed by the Cricket World Cup, which aired post period-end.
As part of its broader “Here for Her” campaign, SuperSport provided a world-first all-female broadcasting crew to produce the Netball World Cup in Cape Town, which was shortlisted at the Sports Business Awards for “Best Sporting Event of 2023”.
Beyond World Cup coverage, SuperSport's broadcast of the Comrades Marathon in June 2023 was the biggest production in SuperSport's history. The group continued telling the best of local sport stories and is proud of its latest documentary series, Pulse of a Nation, which documents the history of football in South Africa. SuperSport also secured several rights in its portfolio to provide viewers with a wide variety of choice.
MultiChoice also remains committed to making school sport accessible to all levels of society through its SuperSport Schools platform, which grew its user base by 69% over the last six months, providing a valuable stage for identifying the next generation of South Africa's sporting stars.
Operational performance review
South Africa
The challenging consumer environment persisted into 1H FY24. Loadshedding remained the most immediate challenge in terms of subscriber activity, with the number of active days per subscriber declining by 5% due to a significant increase in both frequency and intensity of loadshedding, especially in Q1 of the reporting period. Premium and Compact bases showed improved stability compared to the latter part of FY23.
The group reported a 5% decline in 90-day active customers to 8.6m (3% of which can be attributed to the decision to end the short-term campaigns implemented in the prior year to support customers during loadshedding), with active customers amounting to 7.8m. More stable trends in the mid- and upper segments of the customer base, along with inflation-linked average price increases of around 4%, helped limit the decline in monthly average revenue per user (ARPU) to 2%.
Various initiatives were implemented to protect the economics of the segment and to help offset macro and consumer challenges weighing on the performance of the business into the second half, a period which is typically affected by the seasonally higher cost of the football content rights and festive season promotional activity. Key amongst these was the reduction in decoder subsidies through increased device pricing in our linear business and the relaunch of DStv Stream, which has more than tripled its subscribers since March 2023, albeit off a low base. Encouragingly, over 90% of DStv Stream subscribers added in the period are new subscribers to DStv, who find the connected product without hardware installation more appealing. The pricing and value proposition of the DStv Business Play packages were also recalibrated which led to a 37% increase in month-on-month revenues for this segment in September 2023.
Revenues declined by 3% to ZAR16.5bn, impacted by a 4% decline in subscription revenues and a reduction in decoder revenues due to the shift in strategy, offset by 31% growth in insurance premiums and a doubling of DStv Internet revenues. The segment delivered a trading margin of 31%, with Showmax now reported as a separate trading segment. In absolute terms, the lower revenues and negative operating leverage resulted in trading profit trending 17% lower to ZAR5.2bn, impacted by the ongoing investment in local content and sport, partially offset by cost saving initiatives and reduced decoder subsidies.
Rest of Africa (RoA)
After adding 1.4m new subscribers in FY23, subscriber growth in the Rest of Africa was more subdued in 1H FY24. This was due to the impact of inflationary pressures in key markets like Nigeria, and similar trends to previous periods which followed a FIFA World Cup or northern hemisphere football off-season. A total of 0.1m subscribers were added to end the period at 13.0m 90-day active subscribers. The active subscriber base was broadly stable at 8.9m subscribers and subscription revenues grew 14% organically.
Revenue of ZAR10.5bn was flat (+13% organic) with a weaker ZAR against the USD on conversion, offsetting the impact of weaker local currencies relative to the USD. The RoA segment delivered a trading profit of ZAR330m (+ZAR2.2bn YoY on an organic basis) which was underpinned by specific cost interventions around decoder subsidies and content costs.
Weaker currencies remained a significant impediment to improvements in profitability, with average first half exchanges falling sharply against the USD. The sharp fall of the naira resulted in a large proportion of the previously recognised losses incurred on cash remittances now being recorded in trading profit. The net effect of these forex movements was a negative ZAR1.6bn impact on the segment's trading profit for the period.
Showmax
The Showmax partnership with Comcast (owners of NBCUniversal, Sky and Peacock) was concluded on 4 April 2023 and significant progress has been made in preparing for launch later in this financial year. This service, which is set to benefit from rising connectivity and smart device uptake that enhances accessibility and scalability, will enable MultiChoice to double its customer base and deliver an additional USD1bn revenue in the medium term.
Showmax (now reported separately from the South African segment) saw its active subscriber base increase by 13% YoY, resulting in revenues growing 46% (+45% organic) to ZAR0.6bn. As the group continues to support the existing business and invest behind the new platform, operating costs increased in the short term, resulting in trading losses increasing by ZAR0.5bn to ZAR0.8bn.
Technology segment
Irdeto's external business delivered 17% topline growth (+4% organic) due to the weaker ZAR against the USD, market share gains in its core media security business and the provision of its managed services. Irdeto's connected industries initiatives continue to build momentum, most notably in the Keystone product line where Irdeto secured additional customer wins in the construction equipment space.
Trading profit was affected by once-off restructuring activities in the core media security business as the business adapts to the changing media landscape, and increased by a modest 1% on an organic basis.
On a standalone basis, Irdeto generated revenues of USD98m (ZAR1.8bn), down 7%. Trading profit of USD15m (ZAR0.3bn) was lower than the prior period as a result of the non-recurring benefit from elevated FIFA World Cup orders in the prior year, as well as the restructuring costs.
KingMakers
KingMakers continued to deliver strong underlying operating momentum despite the impact of the weaker naira and challenging macro environment in Nigeria. The business delivered organic revenue growth of 22%, led by strong growth in its online sportsbook which saw active users increase 17% and its revenue contribution grow by 40% YoY. The weaker naira resulted in reported revenues increasing only 2% to USD95m (ZAR1.8bn). KingMakers reported USD10m in EBITDA and narrowed its loss after tax to USD8.6m (ZAR0.2bn) for the first six months to June 2023.
The core development focus for KingMakers was preparations for the soft launch of SuperSportBet in South Africa on 9 November this year. The expertise of the KingMakers team combined with the strength of the SuperSportBet brand and exclusive partnerships uniquely positions the group to leverage the opportunity for future revenue and gain market share in this large and growing addressable market.
KingMakers is focused on optimising the profitability of its agency business and growing its higher-margin online business that, together with the opportunity presented by the new South African business, will support its path to sustainable profitability.
The product and market expansion plans are fully funded with KingMakers having USD134m (ZAR2.5bn) of cash at period end (being June 2023).
Moment (Fintech)
The Moment joint venture made significant progress in integrating with group core payments infrastructure and remains on track to commercialise its local services in 2H FY24.
In addition, Moment prioritised payment service integrations for the Showmax business to support the streaming platform's launch in 2H FY24. The platform is set to deliver returns equal to the initial investment within a 20-month timeframe and will become increasingly important to the success of the group's ecosystem in future, providing simplicity to customer payment options, more integrated rewards platforms and B2B revenue opportunities.
Future Prospects
“MultiChoice has a compelling growth strategy in place, which is partly driven by the opportunity to capture sustainable long-term growth through our targeted investment in streaming and partly by the need to absorb increased external economic pressure on the business and its consumers in the short-term. Our priority is to navigate both sets of demands to ensure the group operates sustainably through the current economic cycle and long into the future, while delivering attractive shareholder returns.” says Mawela.
The focus remains on driving further efficiencies in operating expenditure, as well as working capital and capex decisions, to ensure consistent and optimal returns on all capital deployed. At the same time, the group continues to seek ways to support or improve the economics of the business through pricing decisions, optimising customer mix and content monetisation, as well as calibrating decoder subsidies according to the macro-economic backdrop.
The group is also carefully investing behind nascent or future business lines, taking into account the strategic importance and prospects of success.
“The second half of FY24 will be an important period in our journey to expand our ecosystem beyond Africa's leading linear pay-TV operator into a broader ecosystem of interactive entertainment and consumer services to enable us to double our customer base to 50 million over the next five years. The relaunch of Showmax, combined with KingMakers' entry into the South African market with SuperSportBet, and Moment's platform launch are all important milestones as we accelerate growth and drive additional scale, creating a ‘world of more' for customers and additional value for shareholders.” Mawela concluded.
Distributed by APO Group on behalf of MultiChoice Group.
Private capital takes centre stage at universal access to water summit
Enabling private capital and mobilisation will take centre stage as stakeholders in the water sector gather for the World Bank’s Eastern and Southern Africa Leadership Summit on universal access to water supply, sanitation and hygiene.
Hard on the heels of the week-long 7th Africa Sanitation and Hygiene Conference held in Namibia last week, the Department of Water and Sanitation (DWS) Director-General, Dr Sean Phillips, is participating in the Eastern and Southern Africa Leadership Summit on universal access to Water Supply, Sanitation and Hygiene (WASH), currently underway in Addis Ababa, Ethiopia.
The two-day summit, taking place from 14 - 15 November 2023, will focus on enabling private capital and mobilisation, and will promote critical, tangible inputs on strategies, actions and policy reforms to boost private sector financing and participation of the water and sanitation sector.
The event, which is co-hosted by the Ministry of Finance in Ethiopia and the World Bank, seeks to help identify and seize opportunities to increase private and public funding, and implement the necessary sector reforms to serve all Eastern and Southern African residents still lacking access to WASH.
The discussions at the summit will centre on three strategic actions of systems change, including policy and institutional reforms that promote efficient use of public and private resources; investments that are pivotal for the transformation of the water sector, and country and regional platforms for collaboration.
The summit will build on previous discussions and will advance the dialogue on country plans to accelerate access to WASH, and further provide an opportunity for in-depth discussions to understand the implications of implementing systems change.
The event will serve as an interactive platform for stakeholders, including water sector ministers, finance ministers, development partners, and private sector leaders to discuss opportunities for collaboration.
Phillips said the discussions at the summit will focus on what it would take to reduce existing inequalities in WASH services worldwide and will promote critical, tangible inputs on strategies, actions, and policy reforms to boost private sector financing and participation.
“The high-level ministerial and technical discussions will help identify and seize opportunities to increase private and public funding and implement the necessary sector reforms to serve all Eastern and Southern African residents that are still lacking access to WASH.
“The Department of Water and Sanitation welcomes this initiative by the World Bank to advocate for private funding programmes that will advance the WASH objectives. As you know, South Africa has also committed itself to achieve goal 6 of the Sustainable Development Goals (SDGs), which focuses on the right to water and sanitation services for all,” Phillips said.
The WASH initiative encompasses 18 countries, ranging from fragile and conflict-affected States to middle-income countries.
While the world is progressing towards SDG 6, one of the 17 United Nations SDGs, which advocates for availability and sustainable management of clean water and sanitation for all, most African countries are lagging to achieve this goal.
The sub-Saharan Africa is the only region sliding backward in terms of WASH. Over the last 20 years, access to basic water supply and sanitation has declined, resulting in 37 million more people without basic water supply and 247 million more without basic sanitation.
Despite all efforts being made, these gaps are continuously growing.
The DWS said the implications of limited access to basic water supply and sanitation were discussed at previous events, such as the UN (United Nations) Water Conference in March 2023 and the World Bank-IMF Spring Meetings in April 2023.
“During these high-level events, the African Ministers of Water and of Finance embraced a strategy to effect change that will grant universal WASH access. The ministers have also committed to establish and monitor regional platforms to track progress of the initiative,” the department said. – SAnews.gov.za
GabiK
Tue, 11/14/2023 - 10:53
What exactly do we mean by mine health & safety? The Mine Health and Safety Inspectorate was established in terms of the Mine Health and Safety Act, 1996 (Act No. 29 of 1996). The aim is to carry out the constitutional mandate of the Department of Mineral Resources in order to protect and safeguard the …
In a world where electricity outages can disrupt daily life, Geewiz emerges as a trusted ally, offering a comprehensive range of load shedding solutions that cater to a diverse array of needs. With a commitment to keeping homes and businesses powered up during challenging times, Geewiz presents an impressive array of categories that encompass everything …
Joma Sport, the official technical sponsor of the prestigious Durban International Marathon, has unveiled an exclusive limited-edition Durban International Marathon event shoe, perfectly timed for race day on Sunday, 28 April 2024. “We are thrilled to announce Joma’s role as the technical sponsor of the Durban International Marathon,” says Roger Noades, Director of Joma South …
Measures in place to deal with Diphtheria outbreak
The Department of Correctional Services (DCS) is leaving “nothing to chance” as it deals with the outbreak of Diphtheria at the Pollsmoor Correctional Centre, says it’s National Commissioner, Makgothi Thobakgale.
This after a 19-year-old inmate died and eight other inmates tested positive for the contagious bacterial infection at the Pollsmoor Correctional Centre in the Western Cape.
“We would like to assure the public and stakeholders that we are taking proactive measures to address and contain any possible spread of the disease. The epidemiological investigation on the index case is still ongoing.
“Recognising the potential risks associated with communal living, we have implemented a comprehensive set of measures to mitigate the spread of the disease within the correctional setting.
“We are doing this because we also know that [a] Diphtheria outbreak in a correctional environment requires a coordinated and comprehensive response in order to contain the spread and provide appropriate medical care to the affected individuals,” he said at a media briefing on Monday.
Thobakgale outlined the measures taken which include:
“We are leaving nothing to chance, health education efforts to inform inmates, DCS officials and service providers about the symptoms of Diphtheria, the importance of vaccination, and preventive measures are being amplified. Our health care team is vigilant in monitoring the situation and the infection prevention measures are for every individual in a correctional facility to follow through.
“The situation is calm and under control. No new cases have been reported in the past five days. Hence, we do believe that the measures that we have put in place shall be effective in ensuring the well-being of everyone in our care,” he said.
Roots of the outbreak
Reflecting on the events leading up to the outbreak, Thobakgale explained that the 19-year-old inmate who died, fell ill after being transported back to the facility following a court appearance on October 17.
“When the inmate showed signs of not feeling well, the Correctional Services Health Care officials treated him and a decision was taking that he be transferred to an outside hospital. At the time the inmate showed malaise and respiratory symptoms hence the transfer to Victoria Hospital on 28 October.
“He received further treatment and was tested for Diphtheria and the results came back positive on 02 November 2023. Unfortunately, the inmate’s condition deteriorated and he sadly passed away on 5 November 2023 at the Groote Schuur Hospital,” he said.
Thobakgale said following the inmate’s diagnosis, the department immediately embarked on a contact tracing exercise with some 54 inmates and 15 correctional services officials identified as contacts.
Some eight inmates tested positive.
“[The officials] were tested and released to isolate at home. The provisional results have since came back negative, awaiting confirmatory results.
“As a department, it was important that we act with necessary urgency. The health and well-being of our incarcerated inmates, staff members, and the surrounding community are of utmost importance to us, and we are obligated to ensure a safe and healthy environment.
“Diphtheria is a vaccine-preventable disease, and through…comprehensive measures, we aim to minimize the risk of transmission at Pollsmoor Correctional facility,” he said. – SAnews.gov.za
NeoB
Mon, 11/13/2023 - 12:00
When it comes to the well-being of your furry family members, Bob Martin’s Naturals Calmcare is a trusted ally, offering a scientifically sound and holistic approach to managing stress and anxiety. Cats and dogs, just like humans, can experience stress and anxiety and this can present at different stages in their lives, and as a …
CAPE TOWN: The pioneering mental health initiative launched by Cricket South Africa (CSA) in August 2023 in collaboration with leading mental...
Taking place in the majestic city of oaks this coming Saturday 18 and Sunday 19 November 2023, the Savanna Origin of Trails MTB Experience has become a firm favourite of South Africa’s largest women-only mountain bike club, the esteemed Trail Angels. “Our aim is to introduce more women to the exhilarating world of mountain biking …
Call for Western Cape government to stand with Palestine as it has with Ukraine
This year marks an important milestone for the KZN South Coastâs tourism sector with the popular route map, the Southern Explorer, celebrating its 25th edition. âWeâd like to extend our congratulations to the Southern Explorer team on this impressive milestone and we are looking forward to further promoting the KZN South Coastâs tourism offerings together,â …
SA Military Ombud Office to host the 11th Annual Symposium
The South African Military Ombud Office will gather different stakeholders and role players when they host the 11th Annual Symposium on Friday.
The symposium will be held under the theme: “The role of military ombud institutions in promoting human rights and administrative justice within the military in the African context”.
Military Ombud Lieutenant General (Ret) Vusumuzi Masondo will give a keynote address on the role that the Office plays within the armed forces.
Other speakers on the day will include Dr Moses Khanyile, Director CEMIS, Stellenbosch University; Grace Malera, Ombudsman, Malawi; Advcate Sipho Mantula, Researcher University of South Africa; Steven Ramafoko, Head Legal Services: Independent Police Investigative Directorate; Advocate Vasu Gounden, Founder and Executive Director ACCORD; Major General Eric Mnisi, Adjutant General of Defence Legal Services and Florence Kajuju, Ombudsman Kenya, among others.
Masondo said they had enlisted prominent speakers, ombudspersons and academics who are well conversant with the topics and global events relevant to the symposium.
“The broader objective of this symposium is to discuss the current and future context issues in Africa, the role of our armed forces and how its oversight can be enhanced.
“Furthermore, the discussion will attempt to map out the way forward and explore the possibilities of how the creation of regional and multilateral partnerships can aid in enhancing oversight,” he said.
The Office was created in 2012 with the mandate of investigating complaints by South African National Defence Force (SANDF) members and former members regarding their conditions of service.
Part of the mandate is also investigating the complaints from the members of the public regarding the official conduct of the SANDF when they are on duty. – SAnews.gov.za
Edwin
Thu, 11/09/2023 - 13:13
For the fifth annual edition of the Twyg Sustainable Fashion Awards, a renowned panel of six local and international judges will bring a strong global perspective to the evaluation process. This will be the second year that this same panel will be judging the awards. “We are confident that this dynamic panel, with wide-ranging and …