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Johannesburg Metro Sinks Deeper Into Financial Quagmire

Location: News

The Freedom Front Plus (VF Plus) could not support the City of Johannesburg’s proposed 2026/27 budget as it fails to address the Metro’s critical financial crisis, allowing it to sink even deeper into a financial quagmire. The budget was tabled against the backdrop of a severe financial crisis: ongoing disputes with Eskom, a scathing letter […]

The post Johannesburg Metro sinks deeper into financial quagmire appeared first on Freedom Front Plus.

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We Have Warned of Johannesburg’s Looming Bankruptcy for a Long Time

Location: News

For years, the Freedom Front Plus (VF Plus) warned Johannesburg’s ANC administration that exorbitant salary negotiations and a culture of non-payment would steer the City straight into bankruptcy. These warnings fell on deaf ears, though, and the consequences are now evident. The controversial R10,3 billion salary increase offered to workers last year to avert labour […]

The post Freedom Front Plus has warned of Johannesburg’s looming bankruptcy for a long time appeared first on Freedom Front Plus.

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A503 Stock Growth WhatsApp Community NOT Associated With JSE or FSCA

Location: News

The FSCA is warning the public against a fraudulent WhatsApp group claiming to be associated with the FSCA and the Johannesburg Stock Exchange. The Financial Sector Conduct Authority (FSCA) cautions the public not to deal with a syndicate operating on WhatsApp and claiming to be associated with the FSCA and the Johannesburg Stock Exchange (“JSE”). …

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Beware: Octodec Invest Ltd (“Octodec”) is NOT Associated with the JSE

Location: Business

Octodec is using JSE’s name (a licensed Stock Exchange) without any approval, creating an impression that it is affiliated to the JSE and that its activities are approved by JSE when this is not the case. JSE legal counsel has confirmed that Octodec is not in any way linked to the JSE. Octodec’s unauthorised use …

Read moreBeware: Octodec Invest Ltd (“Octodec”) is NOT Associated with the JSE

Africa’s Solar Boom: How to Reap the Benefits

Location: Business
CBI-electric: low voltage

With 2.5 gigawatts-peak (GWp) (http://apo-opa.co/4iQtUCp) of solar capacity added across Africa in 2024 and 194.34 GWp expected in 2025, the continent is fast becoming a global hotspot for solar energy growth. Leading this shift are the commercial and industrial (C&I) sectors, where photovoltaic (PV) systems are being installed on-site at businesses, educational institutions, and government facilities to meet their own energy demands.

Dr Andrew Dickson, engineering executive at CBi-electric: low voltage (www.CBi-lowvoltage.co.za), explains that multiple factors are accelerating the continent's switch to solar. “Energy poverty remains a major issue across Africa, with reliable grid electricity reaching only 14% (http://apo-opa.co/4jICofV) of Zimbabweans, for example.”

He adds that unreliable power supply is another key driver. “Persistent nationwide blackouts are affecting countries like Botswana (http://apo-opa.co/3EZvQKM), disrupting day-to-day operations. And in hydro-electric dependent countries such as Zambia (http://apo-opa.co/3RRqvrX), climate change is reducing water levels, leading to lower electricity generation and higher prices.”

Dr Dickson points out that in countries like Namibia which are dependent on electricity imports, affordability is a growing concern, with N$8.8 billion (http://apo-opa.co/3EZvSlS) expected to be spent between January 2024 and December 2025. “As a result, Namibia now has the highest (http://apo-opa.co/3EZvSSU) electricity prices in Southern Africa. Yet it has a unique geographic advantage: its solar PV systems can produce twice (http://apo-opa.co/3EZvSSU) as much electricity as comparable systems in central Europe.”

Some African nations are proactively investing in solar to reduce their grid dependence. “Malawi is rolling out its National Compact for Energy (http://apo-opa.co/3GMlxKC), which creates a competitive framework for private-sector investment in off-grid solar through grants, subsidies, and credit lines that improve access to foreign exchange,” he notes.

Safeguarding solar investments

The shift to solar is also being driven by cost-effectiveness. Dr Dickson shares that on-site solar is now cheaper (http://apo-opa.co/3YDs1BD) than the electricity tariffs paid by C&I clients in at least seven sub-Saharan markets.

Pointing to research by GreenCape (http://apo-opa.co/3Z6UyzC), which found that solar PV can reduce business energy costs by 15%, with a return on investment reached within three to 12 years, he highlights that after that, businesses can benefit from up to 15 years of free electricity.

However, Dr Dickson stresses that unlocking these savings requires protecting system components from damage and disruption. “Voltage spikes caused by lightning or grid instability can seriously damage inverters and batteries. Installing surge protection devices (SPDs) is critical, not just to prevent damage, but also to avoid voiding manufacturer warranties.”

Arcing is another serious threat. “When electrical currents jump across gaps, the heat generated can damage components or even start fires,” he explains. “DC circuit breakers designed specifically for solar systems are essential for mitigating this risk. They're built to handle the direct current generated by PV panels, ensuring safer and more reliable operation.”

Smart tech enables smarter solar use

In addition to physical protection, Dr Dickson advises businesses to embrace smart energy management tools to extend system life and optimise performance. “A smart power indicator can detect grid interruptions and send immediate alerts, helping businesses respond quickly. These systems can temporarily disconnect non-essential high-energy devices during an outage to prevent overload and preserve battery life. At the same time, they ensure that essential systems like security and lighting continue operating during downtime.”

Optimising solar ROI in 2025

He believes that the key to unlocking solar's full potential lies in strategic system design and management. “By combining surge protection, DC breakers, and monitoring tools, businesses can reduce unexpected costs, minimise downtime, and extend the life of their investment.”

“As Africa's solar energy market continues to expand in 2025, organisations have an opportunity to capitalise on its long-term benefits. With the right technologies and safeguards in place, solar is not only a clean energy solution it's a strategic asset that pays off,” concludes Dr Dickson.

Distributed by APO Group on behalf of CBI-electric: low voltage.

About CBi-electric: low voltage:

  • Established in 1949, CBi-electric: low voltage is a manufacturer and supplier of quality low voltage electrical distribution, protection, and control equipment. Previously known as Circuit Breaker Industries or CBI, the company specialises in the design, development, and manufacturing of circuit breakers, residential current devices, surge protection, wiring accessories, and metering products.
  • Headquartered in Johannesburg, South Africa, the company is a subsidiary of renowned JSE listed industrial group Reunert (http://apo-opa.co/4iV5abY), established in 1888, with international operations across Africa, Asia, Australia, Europe, and USA.
  • CBi-electric: low voltage can be found in almost every home and has firmly become a market leader over the last 75 years while supplying products to authorities, utilities, manufacturers, commercial property developers, industrial, mining, telecommunications, and general power distribution applications.
  • In 2021, the brand launched its smart IoT (internet-of-things) home automation range, called the Astute Range.
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Telecoming and MTN Partner to Launch Cloud Gaming in South Africa

Location: News

Telecoming
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  • Both companies extend their collaboration to introduce cloud gaming in South Africa.
  • MTN Cloudplay aims to revolutionize digital entertainment with affordable, high-quality gaming access.

MTN, Africa's leading telecommunications operator with over 290 million subscribers across the continent, announces the launch of Cloudplay, a revolutionary new cloud gaming service, with Telecoming (www.Telecoming.com), a sportech company specializing in developing and distributing mobile experiences for sports and entertainment. This project marks a new milestone in the ongoing collaboration between the two companies.

MTN Cloudplay: A Game Changer

MTN Cloudplay will allow MTN users in South Africa to access a wide range of cloud-based video games, providing a high-quality gaming experience without the need for downloads or high-end gaming consoles. The service will allow customers to stream high-end PC games to their mobile phones, enabling them to play anywhere, anytime.

This service seeks to democratize access to high-quality mobile gaming for the whole family; including various genres which include retro games and exciting popular gaming titles with multi-device gameplay, at an affordable price of only R79 per month.

Jason Probert, General Manager for Digital Services at MTN South Africa shared his thoughts on the collaboration:

"We're thrilled to launch MTN Cloudplay in South Africa. We're committed to enabling our customers to enjoy the benefits of a modern connected life and the advent of 5G means that it is now possible to stream and play games without the need for a PC or console. Customers can use their existing Steam licenses on the service, and have access to more than 300 games on the service for only R79 per month."

Alí Karaosman, MEA Director of Telecoming says "It is very exciting for us to extend our collaboration with MTN, bringing our nearly decade-long experience in this market and supporting the operator in this innovative digital entertainment offering, we are convinced that MTN Cloudplay will revolutionize the way users in South Africa enjoy video games. For Telecoming, this partnership with MTN is a strategic step in our mission to bring esports and innovative digital services to Africa. We are committed to continuing to develop technological solutions that enhance digital leisure for people in the region."

Service Details

MTN Cloudplay is available to all MTN users in South Africa since November 2024. With a vast library of over 340 games from over 50 publishers, this cloud gaming service offers an unmatched gaming experience on any device.

MTN Cloudplay is accessible to MTN subscribers. Users can visit https://Cloudplay.MTN.co.za to explore the platform and enjoy a wide selection of gaming titles.

Highlights

  • Extensive Game Library: Enjoy classics like Contra, PacMan and Mortal Kombat and modern hits like Hogwarts Legacy and Borderlands 3.
  • Bring Your Own License (BYOL): Access games you've purchased on Steam, such as Grand Theft Auto V and Fallout 4.
  • Multi-Device Access: Play on any device and switch seamlessly between them.
  • Low Latency: Experience responsive gameplay with minimal lag.
  • Subscription: Available directly on https://Cloudplay.MTN.co.za or via the MTN Play https://Play.MTN.co.za website for R79 per month.

Distributed by APO Group on behalf of Telecoming.

For MTN Queries​:
Leigh-Ann Chetty
Senior Manager: Public Relations, MTN SA  
Cell: 083 209 1310  
E-mail: Leigh-Ann.Chetty@mtn.com  

Mthokozisi Ndlovu
Senior Manager: External Communications, MTN SA  
Cell: 083 209 2683  
E-mail: Mthokozisi.Ndlovu@mtn.com   

Press Contact Telecoming:
Bárbara González
barbara@bgdiez.es
M. +34 603 578 65

Follow us:                                                                                    
X: https://apo-opa.co/3Z0Fgvs
LinkedIn: https://apo-opa.co/3CA7cz3

About the MTN South Africa:
Launched in 1994, MTN South Africa is a subsidiary of MTN Group, a leading emerging market operator with a clear vision to lead the delivery of a bold new digital world to our customers. We are inspired by our belief that everyone deserves the benefits of modern connected life. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code ‘MTN'. Our strategy is Ambition 2025: Leading digital solutions for Africa's progress.  

About Telecoming:
Telecoming is a sportech company specializing in developing and distributing mobile experiences for sports and entertainment. The firm has been deploying monetization technologies in partnership with telcos since 2008. Telecoming is currently present in 18 countries. Its portfolio includes the official licenses of the leading soccer clubs in Europe and Africa, as well as the main competitions of 12 sports disciplines. Leader in the digital content economy since its foundation, the company has been recognized by the London Stock Exchange as one of Europe's most inspiring organizations. In addition, it is one of Europe's fastest-growing companies, according to Morningstar's 5000 Inc. ranking. For more information, please visit: www.Telecoming.com

Read moreTelecoming and MTN Partner to Launch Cloud Gaming in South Africa

Call for proactive regulations in the media sector

Location: News

Call for proactive regulations in the media sector

The Media Development and Diversity Agency (MDDA) has called for proactive regulations to deal with matters of platform accountability, competition and cases of acquisitions in the media sector.

Citing the Multichoice and Canal+ acquisition, MDDA Acting Executive Manager, Lethabo Dibetso, said the acquisition poses a threat to the sustainability of the community media sector due to the Universal Service Fund (USAF) levy paid by Multichoice. 

According to media reports, the French media giant has bought shares at the JSE [Johannesburg Stock Exchange]-listed broadcaster. 

The MDDA currently receives a majority of its funds from broadcast funders through USAF levies, government grants and interest on investments.

Dibetso explained that Multichoice is one of the biggest contributors to the USAF levy. 

“Should the levy fall through, it will be interesting to see if Multichoice will still be a contributor to the USAF levy and what that means for the sustainability of the community media sector,” Dibetso said on Thursday during a panel discussion on media freedom.

The discussion was hosted by Media Monitoring Africa (MMA) and Government Communication and Information System (GCIS) during the 2024 Media Freedom Festival under the theme: “Media for Democracy: Ensuring Access, Accountability and Integrity in Journalism".

USAF was established under the Electronic Communications Act (ECA) to fund projects and programmes that strive to achieve universal service and access to information and Communication Technologies (ICTs) by all South African citizens.

With the MDDA being in business for about 20 years, Dibetso recognised the continuous support the agency has received from commercial broadcasters through the use of the USAF levy. 

“If it wasn’t for that continuous support, the community sector would be non-existent. In the past 20 years, we have supported the community media sector with non-financial support of more than R20 million; with financial support [of] R600 million, and we have created direct and indirect jobs through supporting the community media sector. 

“We have also assisted with governance training. Governance is critical for the community media sector, and it enables communities to have alternative media platforms,” he said.

Dibetso said there are a lot of community media organisations that have come up with innovative ways to sustain themselves outside of the government grant.

“The economic challenges that the media sector is facing, particularly the print sector, has direct implications for the sustainability of the MDDA and community media.

“The shrinking advertising spend means that a majority of community organisations do not have access to advertising funding.

“The competition by the digital platforms is also taking away from the community media sector, which means that as an organisation we need to knock on different doors to sustain the sector,” Dibetso said.

Ensuring media freedom

He expressed concerns about the lack of mechanisms to protect women working in the media sector.

“We have seen an increase in cyber misogyny in the media. There is an increased attack on women journalists, which poses a challenge for us,” Dibetso said.

Head of Programmes at the MMA, Thandi Smith, echoed Dibetso's sentiments that there ought to be reforms aimed at protecting journalists and media freedom.

“Over the last few years, we have seen an increase in cases against public participation. We have seen prominent cases where these mechanisms are used to silence journalists and clamp down on media freedom,” Smith said.

She said over the last 30 years, the media sector has scored big wins with upholding media principles in policy and litigation areas.

“We have seen how the judiciary has played their part in promoting and upholding media freedom. We saw changes with how media had to apply for permission to cover criminal cases from the presiding judge. That has now changed. The default now is to have open access, unless otherwise stated that it needs to be closed,” she said. - SAnews.gov.za

nosihle
Thu, 10/17/2024 - 12:50

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President Ramaphosa urges US business to invest in SA’s growing economy

Location: News

President Ramaphosa urges US business to invest in SA’s growing economy

President Cyril Ramaphosa has called on US businesses to deepen their investment ties with South Africa, highlighting the country's renewed focus on economic recovery and structural reform. 

Speaking at the SA-US Interactive Business Forum in New York on Monday, the President emphasised the progress made under South Africa's Government of National Unity (GNU) and the vast opportunities available to foreign investors.

He said this is a “timely intervention”, referencing his first visit to the US since South Africa's general elections in May, which led to a coalition government of political parties committed to inclusive growth and job creation.

“The advent of the Government of National Unity has renewed investor optimism in the South African economy. The message I bring to US investors today is that this optimism is well-placed. 

“South Africa is firmly on the road to recovery, and we invite you to be part of this journey. Investments in South Africa are secure. Our business environment is stable. This is supported policy certainty and regulatory safeguards,” the President said. 

He added that South Africa intends to stay the course on the structural economic reform process, on scaling up investment in key infrastructure, and on improving the business operating environment.

The President noted South Africa’s success in attracting investment, revealing that the country had achieved its target of raising R1.2 trillion (approximately USD 63.6 billion) ahead of schedule in 2022. 

 “We have announced a new target of approximately R2 trillion or approximately USD 100 billion over the next five-year period up to 2028. 

“The far-reaching structural reforms we have implemented over the past six years have opened up the country to increased levels of investment that continues to grow,” the President said. 

Ramaphosa particularly underscored the potential in the clean energy sector, which has attracted significant investment, supporting South Africa’s commitment to decarbonisation and energy security. 

"We are equally committed to a Just Energy Transition that is inclusive, that take our developmental needs into account, and that leaves no community behind. 

“We have a supportive and enabling industrial policy that incorporates amongst others expanding the special economic zones, driving export-led growth, and harnessing the potential of the Africa Continental Free Trade Area or AfCFTA. In January 2024 we began preferential trading under the AfCFTA,” he said. 

The President emphasised that the Government of National Unity is furthermore committed to prudent monetary and fiscal policy and to strengthening regulatory and legislative frameworks to combat corruption.

The President also highlighted the importance of strategic partnerships with US businesses, especially in sectors like advanced manufacturing, energy, healthcare, and infrastructure. 

“South Africa and Africa is ripe for investment in financial services, advanced manufacturing, energy, healthcare, infrastructure development, mining, science and technology and other sectors. South Africa is also developing the value chains of the future.

“With substantial reserves of critical energy transition minerals, we are positioning ourselves to be at the forefront of the green energy revolution,” he said. 

He added that as the country with the world’s largest platinum group metal reserves, South Africa has a competitive advantage when it comes to the production of sustainable energy technologies, including electric vehicles, new energy vehicles and renewable energy components.

President Ramaphosa praised the collaboration between the New York Stock Exchange (NYSE) and Johannesburg Stock Exchange (JSE), following the 2022 Memorandum of Understanding. He stated that the partnership between the two stock exchanges “promotes cross-border investment and drives economic growth on a global scale.”

The President further highlighted the US as one of South Africa’s most valued trade partners, noting that bilateral trade totalled USD 17.6 billion in 2022. 

He also praised the impact of the African Growth and Opportunity Act (AGOA) in fostering trade and creating jobs in sectors like automotive, agriculture, and precious metals.

With Africa's population expected to reach 2.5 billion by 2050, President Ramaphosa painted a bright picture of the continent's economic prospects, noting that the African Continental Free Trade Area (AfCFTA) would "drive a wave of industrialisation and create dynamic regional value chains."

“This too presents opportunities for US businesses and investors, and opens up new markets for their goods, products and services. 

“Mutually beneficial trade and investment not only unlocks the dynamism and potential of an entire continent. It will also aid Africa’s efforts to achieve the Sustainable Development Goals,” the President said. 

In closing, President Ramaphosa reassured investors of the stability and security of investments in South Africa. 

“South Africa is open for business. Sustainable and inclusive growth spurs development and creates jobs.

“Together, we can forge a path to shared success and progress, leveraging our combined strengths to achieve enduring prosperity for our people,” the President said. – SAnews.gov.za

 

DikelediM
Tue, 09/24/2024 - 11:01

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Read morePresident Ramaphosa urges US business to invest in SA’s growing economy

Emira’s Biodiversity Project Creates a Brighter Future for Gauteng, Sustaining Nature’s Workforce

Location: MyPR

Gauteng features more sweet-scented and bright yellow flowers this year, heralding the end of winter and welcoming the start of spring. These flowers will also attract pollinators such as bees and butterflies in the province, helping to create a healthy and vibrant ecosystem. This is all thanks to the efforts of Emira Property Fund (JSE: …

Read moreEmira’s Biodiversity Project Creates a Brighter Future for Gauteng, Sustaining Nature’s Workforce

South Africa’s Positive Momentum Bodes Well for Property on the Kzn South Coast

Location: MyPR

The country’s peaceful transition to a Government of National Unity has sparked optimistic sentiment among investors, with interest in KZN South Coast properties one of the positive spinoffs of this economic upturn. Coupled with the unique natural beauty, affordable prices, and idyllic coastal location, interest in KZN South Coast properties is only set to grow. …

Read moreSouth Africa’s Positive Momentum Bodes Well for Property on the Kzn South Coast

The Rise of Apartment Living: 8 Reasons This Is a Growing Trend

Location: MyPR

Downsizing and retirement often go together, and while some might choose a smaller home or maisonette, apartments in secure estates are becoming a popular option for active seniors. This is particularly true for those who want to live on the coast while also enjoying the freedom to travel when they want. “Previously, apartment living in …

Read moreThe Rise of Apartment Living: 8 Reasons This Is a Growing Trend

UsPlus Raises R80 Million From Its Inaugural Listed Bond Issuance

Location: Business
Verdant Capital

Verdant (www.Verdant-Cap.com) has raised ZAR 40 million for Us Plus Limited (“UsPlus”) as a senior unsecured note through UsPlus' JSE-listed social bond. The investment comes from an Africa-focused fund headquartered in Europe and was matched by an equal investment through local funding on the JSE making ZAR 80 million in total through the bond issuance.  Furthermore, in parallel UsPlus drew down ZAR 60 million for a bilateral facility previously arranged by Verdant, making a total of ZAR 140 million of new funding this quarter (approx. USD 7 million).  This substantial funding injection increases the total capital raised for the business by Verdant to USD 22 million in just over 2 years. It underscores market confidence in UsPlus' mission to drive economic growth and social impact in South Africa.

UsPlus, known for its innovative financial solutions tailored for SMEs, is dedicated to enhancing competitiveness and access to finance for small and medium enterprises. This strategic partnership reinforces UsPlus' commitment to fostering sustainable development and economic inclusion in South Africa.

The fresh capital will empower UsPlus to expand its support, particularly to black-owned, women-owned, and youth-owned MSMEs, particularly in underserved provinces. By focusing on sectors such as food security, waste management, and manufacturing, UsPlus aims to create lasting positive changes in local communities by contributing to employment creation, food security and sustainable production.

This collaboration highlights the vital role of social bonds in mobilising capital for impactful projects, and it reinforces UsPlus' position as a catalyst for financial inclusion and economic empowerment in South Africa. The commitment from this latest funding partner and the continued support from local funders are a testament to the crucial work being done by UsPlus to promote sustainable growth and support the nation's SME sector.

This is the fourth investment into UsPlus arranged by Verdant from international development finance institutions and impact investors.

The transaction further solidifies Verdant as a leading advisor and manager for inclusive financial institutions in Africa.

Terms for the transaction were not disclosed.

Distributed by APO Group on behalf of Verdant Capital.

Media enquiries:
Orient Mahonisi
orient.mahonisi@verdant-cap.com

About Verdant IMAP:
Verdant IMAP is a leading investment bank operating on a pan-African focus, specialising in M&A and in private capital markets.  Verdant IMAP is the IMAP partner firm for its region.  IMAP with partner firms in nearly 50 countries, with over 600 M&A professionals, completing over 200 M&A transactions per year, reinforces Verdant IMAP's capability to deliver innovative financial solutions to clients across Africa and around the World. www.Verdant-Cap.com

Source: US Plus Limited, Verdant

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New sales at Renishaw Coastal Precinct spark massive economic reawakening of KZN Mid-South Coast

Location: MyPR

New shopping centre and filling station planned for the precinct Recent sales at 1 300-hectare Renishaw Coastal Precinct have set off a chain reaction of development that will benefit local businesses, surrounding communities and outside investors, further igniting the economic reawakening of the KZN Mid-South Coast. On the morning of Wednesday, 7 August 2024, stakeholders …

Read moreNew sales at Renishaw Coastal Precinct spark massive economic reawakening of KZN Mid-South Coast

Transfer seals the deal for new ownership of The Neighbourhood Square Shopping Centre

Location: MyPR

22 July, Johannesburg. The Neighbourhood Square premier convenience shopping centre in Linksfield, Johannesburg, has transferred into the hands of its new owners Flanagan & Gerard Property Group and Burstone Group (JSE: BTN). Burstone Group partnered with retail real estate specialist Flanagan & Gerard to acquire the strategic retail asset, with each owner holding a 50% …

Read moreTransfer seals the deal for new ownership of The Neighbourhood Square Shopping Centre