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Zena Brand Builders, an innovative outdoor media company based in the Eastern Cape, is making waves under the visionary leadership of CEO of Zena Brand Builders Yonwaba Pangeni. As a young South African woman breaking new ground in an industry traditionally dominated by established media giants, Yonwaba’s tenacious approach and dynamic leadership are transforming the …
As the winter chill sets in, there’s nothing quite like wrapping your hands around a steaming cup of coffee. Whether it’s the warmth seeping into your fingers or the rich aroma enveloping you, coffee is a winter staple for many. However, with the growing concern for environmental sustainability, our beloved takeaway coffee habit faces scrutiny. …
Talented young SA scientists to attend prestigious scientific conference in Germany
As the country celebrates Youth Month, the Department of Science and Innovation (DSI) has announced that eight young South African postgraduates will be attending the 73rd Lindau Nobel Laureate Meeting dedicated to physics.
Hosted in Lindau, Germany, from 30 June to 5 July 2024, the conference will gather approximately 600 young scientists from across the globe alongside 30 Nobel Laureates.
This year’s scientific programme will focus on three key themes, quantum physics and quantum technologies, physics-based solutions to the energy challenge, and artificial intelligence in physics.
The young students come from higher education institutions including the University of Venda, University of Cape Town (UCT), North West University (NWU) and the University of South Africa (Unisa).
Funded by the DSI and implemented by the DSI’s entity the Academy of Science of South Africa (ASSAf) is the official partner of the Lindau Foundation nominating young scientists to attend the annual Lindau Nobel Laureate Meetings.
“The meetings are a forum for young scientists to engage substantively with Nobel Laureates on research and overall career management aspects,” the department explained.
ASSAf is hosting a pre-travel event this week where the eight young scientists will engage with alumni from previous meetings to learn from their experiences and the opportunities that arise through participating in these esteemed, life-changing meetings.
“They will also receive training in science communication for effective communication of scientific information to non-specialist audiences.”
DSI Acting Director-General, Daan du Toit, has expressed the department’s immense pride in these eight exceptional young locals, saying this was a remarkable achievement and a testament to the calibre of the country’s emerging scientific talent.
“The Lindau Meetings provide a unique opportunity for these young researchers to engage with Nobel Laureates and fellow participants from around the world, fostering invaluable connections, exchanging ideas, and gaining insights from some of the brightest scientific minds,” Du Toit said.
He believes that participation in such a globally renowned event highlights South Africa’s commitment to nurturing excellence in science and innovation, reinforcing the importance of investing in the next generation of scientists and supporting their endeavours to contribute to society meaningfully.
“Support for young South African scientists to participate in the Lindau Meetings and other international young scientists’ fora forms part of the department’s strategic investment in science diplomacy capacities.
“The connections that young South African scientists foster during these meetings will equip them well for future international collaborations and global knowledge networks, reinforcing global solidarity through science,” he added.
Youngsters that will attend the annual conference:
Dr Bambesiwe Mbesi May, PhD graduate in Chemistry at Unisa.
Mr Tsebesebe Nkgaphe Tebatjo, PhD candidate in biomedical engineering at UCT.
Ms Sarah McKee, PhD candidate at NWU based at the South African National Space Agency.
Dr Bertus Van Heerden, post-doctoral researcher in biophysics at the University of Pretoria.
Ms Modjadji Rebecca Letsoalo, Master’s student in physics, focusing on material sciences, at the University of Venda.
Ms Anna Chrysostomou, PhD candidate in high-energy physics theory at the University of Johannesburg and the Claude Bernard University Lyon 1.
Dr Mosima Bernice Kgomo, post-doctoral research fellow at Unisa.
Ms Mosidi Mokoena, Master’s candidate at UCT and hosted by the biophotonics research group at the Council for Scientific and Industrial Research. – SAnews.gov.za
Gabisile
Fri, 06/21/2024 - 11:10
Whether you’re managing a hotel, a lodge, a mining camp, or simply outfitting your home with the best, the quality of your bedding plays a crucial role in ensuring comfort and satisfaction. From bed wraps to duvet cover sets, every detail counts in creating an exceptional sleep environment. In this blog, we will explore the …
Where brands are launched, trends are set and the future of design is shaped: 100% Design Africa is the peak of innovation and inspiration, igniting passion and pushing boundaries in the world of design. This beacon of contemporary design, well known as a launch pad for exciting new products and rising local brands, as well …
Department acknowledges that the appointment of Open Water, which also probed the Ace Magashule Free State housing scandal, was irregular
World leaders congratulate President Ramaphosa
Leaders around the world have rallied behind President Cyril Ramaphosa and offered their congratulations after his inauguration as President of South Africa for a second term, on Wednesday.
Yesterday, international and local guests filled the Union Buildings’ Nelson Mandela Amphitheatre in Pretoria to witness President Ramaphosa take his oath of office.
This, after he was re-elected to serve for a second term on Friday last week at the first sitting of the National Assembly since the highly contested elections in May where he won 283 votes, against Economic Freedom Fighters leader Julius Malema who received 44.
United States Ambassador Reuben Brigety congratulated Cyril Ramaphosa on his inauguration as the President of South Africa.
“Witnessing your vibrant democracy is an honour,” he wrote on X, formerly known as Twitter.
Speaking to SAnews yesterday, the diplomat described the Presidential inauguration as “historic” and wished the seventh administration all the best as it works for the good of the nation.
Meanwhile, United States President Joe Biden applauded President Ramaphosa on his re-election as President of South Africa.
President Biden commended all the political parties for working together to form a government of national unity (GNU).
“I also send my warm wishes to the people of South Africa. This year – as South Africa celebrates 30 years of all citizens having the right to vote – they have demonstrated the enduring power of government of the people, by the people, and for the people.
“I look forward to the United States and South Africa continuing our work together, to expand economic opportunity, invest in clean energy solutions, and demonstrate that democracy delivers,” President Biden added.
Zimbabwe President Emmerson Mnangagwa, who attended the swearing-in ceremony, took to X to wish South Africa’s First Citizen all the best as he leads the new administration.
“Today, I had the immense honour of attending the Presidential inauguration of His Excellency, President Cyril Ramaphosa.
“Congratulations, President Ramaphosa, on this remarkable achievement. It is a privilege to be part of this historical event and I look forward to working with you for the continued strength and unity between our nations,” he wrote.
Prime Minister of India Narendra Modi and Russian President Vladimir Putin congratulated President Ramaphosa on his re-election.
“Warm congratulations, Excellency Cyril Ramaphosa on your re-election as the President of the Republic of South Africa. I look forward to working with you to further strengthen the India-South Africa strategic partnership,” said the Prime Minister of India.
On Monday, Russian President Vladimir Putin had a telephone conversation with President Ramaphosa to congratulate him on his re-election.
“The President expressed hope that Russia and South Africa would continue their joint work to further strengthen their strategic partnership across the board. Vladimir Putin also sent a congratulatory telegram to Cyril Ramaphosa,” his Office said on his official website.
Nigerian President Bola Tinubu also extended his warm congratulations to the President on his re-election.
He applauded South Africans on the peaceful and successful conduct of the General Elections.
“While wishing President Ramaphosa a successful term in office, President Tinubu calls for the strengthening of bilateral ties between Nigeria and South Africa as strategic partners in Africa for the overall advancement of the continent,” Special Adviser to the President, Chief Ajuri Ngelale, added. – SAnews.gov.za
Gabisile
Thu, 06/20/2024 - 12:13
Neil Matthews, a 46-year-old businessman from Gardens, Cape Town, is pioneering a vital initiative to combat gender-based violence (GBV) in South Africa—where the rates of violence against women and children are among the highest globally. At his day job at YAXXA, a business solutions company, Matthews is leveraging his professional resources and personal passion to …
International community looks forward to working with new administration
International and local guests who have travelled far and wide for the Presidential inauguration have started to fill the Union Buildings Nelson Mandela Amphitheatre to witness President-elect Cyril Ramaphosa take the oath of office.
The Union Buildings is a hive of activity with ordinary citizens and national and foreign dignitaries, including Heads of State and government.
Top politicians, including party leaders have already arrived, along with former Presidents who are expected to join the proceedings.
The Union Buildings is awash with South African flags for the occasion, as emotions run high for some attendees who are here to observe the ushering in of the seventh administration since the dawn of democracy.
President-elect Ramaphosa was re-elected to serve for the second term on Friday last week at the first sitting of the National Assembly since the highly contested elections of 29 May where he won 283 votes, against the Economic Freedom Fighters’ leader Julius Malema who received 44 votes.
The Union Buildings, which serve as the official seat of the South African government and houses the offices of the President of South Africa, evokes a sense of excitement and hope.
Diplomatic relations
The United States of America’s Ambassador to South Africa, Reuben Brigety described the Presidential inauguration as “historic”.
“It’s a great honour to be here on this historic day for the inauguration of Cyril Ramaphosa and the beginning of the seventh administration,” he told SAnews on Wednesday.
Brigety stated that the relationship between the United States and South Africa is strong - adding that he hopes to emphasise several things even more this year.
The ambassador expressed anticipation for the 'Atlanta Phambili' initiative, aimed at advancing the positive bilateral relationship between the United States and South Africa.
“It will take advantage of the rich ecosystem that the US city, Atlanta, brings; to advancing our affirmative agenda at everything from healthcare, trade and investment, job creation and so on. So, we wish the seventh administration all the best as it works for the good of the nation of the people of South Africa,” he said.
Meanwhile, Swedish Ambassador to South Africa, Hakan Juholt, expressed his excitement about attending the President-elect’s swearing-in ceremony.
“We were together with the people of South Africa fighting for democracy and now we’re together celebrating democracy.”
He believes that the solutions to today’s diverse problems can be found through collaboration between and within nations.
“This new coalition that we’re looking forward to meeting... This is something that the rest of the world will look into and learn from. This is an exciting day, and we think, from Sweden, an old democracy, that South Africa has shown how mature this young democracy is. We’re very proud to be close friends to the people of South Africa,” he said in an interview with SAnews.
Measures in place and programme of the day
A stone’s throw away, at the South Lawns, crowds are still pouring into the capital to welcome their new President.
Some hundreds of law enforcement officers are stationed in Pretoria with roads in the centre of the city locked down.
With the extensive security measures put in place, the ceremony will feature musical performances from the Mzansi National Philharmonic Orchestra and a congratulatory praise poem by Ntombhi Ya Mutsonga.
The South Africa National Defence Forces’ Chaplain General, Brigadier Ernest Thabo Masweu, will lead interfaith prayers.
President-elect Ramaphosa is expected to take the stage just after 11 am.
The guests will join in the national anthem followed by the salute flight and 21-round gun salute before the President-elect takes his oath and delivers the much-anticipated inaugural speech. – SAnews.gov.za
Gabisile
Wed, 06/19/2024 - 09:30
South African countries performed well on their financial inclusion, between 2011 and 2021. Progress is partly attributed to rapid adoption of digital financial services including mobile money, according to financial experts at a webinar on the African Financial Sector Southern Africa.
Organized by the Economic Commission for Africa (ECA) in partnership with West African Economic and Monetary Union (WAEMU), the webinar is part of a Series themed, Regional Dialogues on the African Financial Sector - regional profile.
The aim of the regional profiles is to provide detailed information on the countries' financial sectors, documenting recent trends, progress, challenges, and opportunities for a deeper financial sector.
In her opening remarks Eunice Kamwendo, ECA's Director of the Subregional Office for Southern Africa noted the potential for growth, innovation and sustainable investments in the financial sector in Southern Africa.
“Southern African region's financial sector faces financial challenges that include liquidity issues, debt distress, limited access to financial services, high levels of informality and regulatory constraints; Despite these challenges, it is important to prioritize the development of the financial sector to create stability, mobilize domestic resources and foster a stable environment for investment,” said Ms. Kamwendo.
Presenting a report on the demographic economic landscape of the Southern African region, Andrew Bamugye, Senior investment manager SME, Trade and Development Bank said the banking sector in Southern Africa has remained solvent with adequate capital; banking liquidity remained sufficient, with most banks seeing profitability between 2021 and 2023.
“The challenge in the banking industry in the region is the strong interconnection between the banking system and non – banking financial institutions and foreign markets, which leads to the risk of contagion,” said Mr. Bamugye.
He proposed that governments should increase fiscal space by expanding government revenues through diversification of the tax base and simplification of tax systems to reduce the exposure of banks to sovereign risks.
Punki Modise, Chief strategy and sustainability officer, ABSA Bank highlighted the varying levels of debt to GDP ratios across African countries and noted that some countries such as Kenya, Ghana, Kenya and Egypt have adopted unsustainable debt strategies. She also emphasized the importance of project preparation and bankability in the private sector.
“Authorities should enhance competition in the banking systems through the promotion of new players especially those that help to improve financial inclusion,” she said.
In addition, she said banks operating in Africa need to have a more end-to-end approach to risk management, considering bankability at all stages.
On capital markets most countries in the Southern African region have a low market capitalization. The Johannesburg stock exchange, which is the leading stock exchange in Africa has a market capitalization of $1022.8 trillion representing 133% of GDP in 2023, against 51.9% of Mauritius and 18.6% of Namibia.
A lack of liquidity characterizes the bulk of the South African stock market and the breadth of the stock market in the region remains limited.
Furthermore, a small, listed number of companies and corporate bonds tend to dominate the fixed income market while the proportion of government bonds in the normal value is much higher.
“A deeper pool of insurers is required for the acceleration of green bonds growth in the region especially among corporate borrowers,” said Mr. Bamugye.
According to the experts attending the meeting, the pension fund penetration remains low in most Southern African countries. However, the high pension penetration rate in South Africa, Namibia and Botswana were the result of good investment returns on the funds, based on a diversified investment strategy coupled with a strong asset allocation process,
Bernard Yen, Actuary and managing director Aon Solutions Ltd, Mauritius highlighted the challenge of encouraging people in the formal sector to save and discussed the importance of structural changes to increase participation in pension funds.
He suggested that structural changes such as tax incentives and simplified registration processes could drive participation. He also emphasized the need for a multi-faceted approach to increase pension fund participation in the region.
“Countries should explore ways to increase participation of informal sector workers in multi-employer pension funds,” he added.
On the question of tapping into southern African SMEs, participants noted that the majority are financially constrained and face a lack of skills in corporate governance, financial management and often contend with high collateral requirements.
Mr. Bamugye noted the need to help SMEs develop bankable business plans and called for streamlining government support programs towards them.
He emphasized the importance of blended finance structures to address the challenges faced by SMEs in the region including the need for risk capital and conditionality and use of unfunded guarantees to unlock local liquidity.
He acknowledged the obstacle of bank credit access in the region particularly for SMEs and encouraged innovative and creative solutions to promote financial inclusion advising that countries should continue to explore innovative instruments and blended approaches to solve SME credit access problems.
Distributed by APO Group on behalf of United Nations Economic Commission for Africa (ECA).
In South Africa’s bustling business landscape, where efficiency and productivity are paramount, job management software has emerged as a crucial tool. This software is revolutionizing how businesses operate, offering advanced solutions to manage tasks, projects, and workflows effectively. Here’s a closer look at the transformative impact of job management software in South Africa. Revolutionizing …
In today’s fast-paced business environment, the management of facilities is a critical component for the smooth operation of any organization. From office buildings and factories to hospitals and schools, effective facilities management ensures that these spaces are safe, efficient, and conducive to productivity. Facilities management software is transforming how businesses in South Africa handle this …
In the fast-paced world of plumbing, managing jobs effectively is crucial for maintaining high levels of customer satisfaction and operational efficiency. Job management software has emerged as a game-changer for plumbers, streamlining various aspects of their work, from scheduling and invoicing to customer communication and inventory management. This article explores the benefits of job management …
By Pieter Nienaber (Compliance Africa at Crown Records Management South Africa): The role of CEOs has expanded beyond conventional boundaries, embracing a deeper sense of responsibility – one that transcends profit motives to encompass ethical stewardship. As businesses grapple with records management, privacy concerns, and regulatory compliance, the ethical imperative for CEOs becomes increasingly apparent. …
Pretoria, Centurion, and Midrand – Appliance Repairs Centre, a leading appliance repair company with over 38 years of industry experience, understands the frustration of dealing with a washing machine that shakes violently during the spin cycle. This common issue not only disrupts your laundry routine but can also cause damage to your appliance if left …
According to the World Health Organisation (WHO), a shocking 99% of the global population is affected by unhealthy air. Added to that, research also shows that noise pollution is now linked to increased risks of heart disease, stroke and dementia. These alarming statistics underscore the urgent need for both businesses and individuals to take action …
Youth challenged to find innovative solutions for water problems
Water and Sanitation Deputy Minister, David Mahlobo, has challenged the youth to help find solutions to the global water woes.
Mahlobo made the call during the Wetskills Challenge Awards Ceremony held at Inkosi Albert Luthuli International Convention Centre in eThekwini on Wednesday.
The Deputy Minister officiated the Wetskills Challenge, a two-week programme for students and young professionals with a passion for water from all over the globe to work in transdisciplinary and transcultural teams on challenging water cases.
The participants’ challenge is to find innovative solutions for the water challenges facing the world.
Several teams competed for the number one spot and came up with solutions to various topics, including water security within the green hydrogen industry; developing a business model for non-governmental organisations, and innovative sanitation solutions in schools.
Speaking at the event, Mahlobo reminded the youth that science must be used for humanity, and that they will help to find solutions to the global water woes.
Mahlobo said he trusts that with the calibre of young men and women who participated in the challenge, the future of the water sector is in good hands.
“Your trade is about humanity and humanity is to improve conditions. We all have shared aspirations and dreams.
“We all want to live in peace and harmony, with development. At this point, we are carrying a treasure and inheritance for the next generations, as we inherited from our forebearers,” Mahlobo said.
He called on government to create opportunities for the ideas presented to be realised, and to foster talent and innovation.
“What we need to do is to support you in implementing the strategies you have come up with, and create pace for your development and an opportunity to pilot these ideas. As government, we need to say, ‘now that the seed has been planted, how do we water and nurture it?',” Mahlobo said.
The Deputy Minister congratulated the winners who came up with solutions to the pit latrine problem in rural areas in South Africa.
Emerald Reddy, Rafael Tembe, Shongile Chauke and Tasmiyah Ismail presented a study that investigates integrating the innovative Larvae'd toilet system with the existing WASH solution in South Africa's rural schools.
The proposed solution aims to resolve these facilities with sustainable and hygienic sanitation solutions.
The team said the innovation will leverage community involvement and the use of recycled materials.
The initiative also ensures students health and safety, and explores business for those who will be supplying for the schools. – SAnews.gov.za
GabiK
Fri, 06/14/2024 - 08:52
SevenC, a leading IT infrastructure and network service provider striving to identify and make available the best possible ICT strategies for its clients’ unique needs, examines critical aspects of digital transformation, IT security, and how to budget for IT success effectively. “Digital transformation is the process of integrating digital technology into all aspects of your …
KZN working towards a permanent solution for flood victims
The KwaZulu-Natal Provincial Government is working towards a permanent solution for the people affected by the recent storms.
“We are working closely with the eThekwini Municipality and the Provincial Department of Human Settlements to find quick solutions for sheltering those affected. SASSA [South African Social Security Agency] continues to capture applications for Social Relief of Distress food vouchers in response to the devastating storm in uThongathi,” KwaZulu-Natal Premier, Nomusa Dube-Ncube, said on Thursday.
Mop-up operations continue in eMagwaveni settlement, as residents rebuild their homes in uThongathi. The area was hit by a devastating tornado, resulting in the loss of lives, livelihoods, and properties.
Meanwhile, eThekwini Municipality Mayor, Mxolisi Kaunda, said the temporary repairs of the Southern Aqueduct, in the south of Durban, will be completed in September this year.
Kaunda, accompanied by Deputy Mayor, Zandile Myeni and Human Settlements and Infrastructure Deputy Chairperson, Bheki Mngwengwe visited the aqueduct on Thursday to assess the progress on the replacement of the aqueduct.
In April this year, Kaunda introduced a contractor to commence with the replacement of the 30km bulk pipe, which supplies water to areas such as uMlazi, KwaMakhutha, Folweni, Chatsworth and Shallcross.
“While the R1.2 billion project is underway, the contractor is also doing temporary repairs on the existing pipeline to ensure that there is reliable water supply in the southern areas.
“The temporary repairs will be completed in September this year. The completion of the project will take 24 months,” Kaunda said.
Once completely repaired, the pipeline will improve water supply to the south of Durban areas. – SAnews.gov.za
GabiK
Fri, 06/14/2024 - 08:58
New dispensation needed to improve water and sanitation service provision
Water and Sanitation Minister, Senzo Mchunu, says a new dispensation is needed in the water and sanitation sector to certify proper water management and propel the country to greater heights that will realise water security for future generations.
Mchunu was speaking at the Water Institute of Southern Africa (WISA) Conference, currently underway at the Inkosi Albert Luthuli International Convention Centre, Durban.
The three-day WISA Conference has brought together over 1 500 academics, professionals, industry experts and law makers in the water and sanitation fields to discuss key issues and challenges in the water sector.
The 2024 conference, held in partnership with uMngeni-uThukela Water, aims to discuss and come up with sustainable solutions to the challenges within the water sector.
Mchunu said the current state of water and sanitation services has challenged government and its partners to turn things around, and set high standards for the water and sanitation sector.
“To a certain extent, water resource management has not received the attention it deserves, and the reality is visible with the deterioration of the water quality of our rivers.
“This is mainly due to pollution emanating from mining activities, industry, agriculture and to a greater extent, from dysfunctional municipal wastewater systems,” Mchunu said.
In an attempt to address this problem, Mchunu said the department has established a national anti-pollution structure that will work with the department to curb pollution of the country’s rivers and dams.
The Minister emphasised that water resource management is more than just a technical challenge, but a societal imperative.
“Water resources are the lifeblood of our nation, underpinning our health, our economy, and our environment,” Mchunu said.
Catchment Management Agencies
During the conference, Mchunu launched four Catchment Management Agencies (CMAs).
They are the Limpopo-Olifants, Vaal-Orange, Pongola-Umzimkulu, Mzimvubu-Tsitsikamma Catchment Management Agencies.
They will be working alongside the already existing Breede-Olifants and Inkomati-Usuthu CMAs.
The establishment of the CMAs is in line with the provisions of the National Water Act (NWA) and the National Water Policy for South Africa to enhance decentralised decision-making in managing water resources, in an integrated manner, at a local level.
The agencies will be responsible for the protection, use, development, conservation, management, and control of all the water resources in a water management area (WMA) at the catchment level.
They also ensure participative management, good water governance and integrated planning, and improving co-operative governance of the country’s water resources in order to achieve the objectives of the National Water Act, equity, accessibility and government’s commitments to improving service delivery.
These responsibilities require that all spheres of government, water users and communities in the water management area work with CMAs as partners.
In acknowledging the effects of climate change, Mchunu said the department is an important contributor to building a climate-resilient future through continuous strategising and effective provision of water and sanitation services.
“CMAs, at local level, will bring together stakeholders to build capacity around creating a climate resilient environment. We are confident that the rationalisation will still achieve the Integrated Water Resources Management (IWRM) principle of decentralisation of water resource management to local level and contribute to the transformation of the water sector,” Mchunu said. - SAnews.gov.za
GabiK
Thu, 06/13/2024 - 11:31
Shoprite Group opens pathways to job opportunities for unemployed youth This Youth Month, the Shoprite Group is calling on unemployed and unskilled South Africans, aged 18 to 34, to apply for specialist training and education programmes to increase their employability in the retail sector. A staggering 45,5% of South African youth grapple with the reality …
Reload Logistics (www.ReloadLogistics.com/), a leading provider of end-to-end supply chain solutions, proudly unveils its new brand identity to better align with its innovative, modern approach to logistics. Founded in 2007, Reload has been strategically amassing assets across major routes and ports in Sub-Saharan Africa to provide clients with the most flexible and accessible solutions in the market.
The new brand embodies Reload's commitment to constant innovation, ensuring clients receive the most efficient and forward-thinking solutions for their cargo. This fresh visual identity reflects the company's ongoing commitment to innovation and excellence in the supply chain sector.
Reload Logistics is rapidly accelerating its growth with an already vast asset portfolio, including warehouses, trucks, and rail capabilities across all major routes and ports in Sub-Saharan Africa, providing end-to-end services to global clients. In addition to the rebranding, several key developments will enhance Reload's capabilities and service offerings:
Expansion of RGT Warehouse in Zambia: The RGT facility in Zambia has expanded to a total storage capacity of 80,000 sqm, with 60,000 sqm of covered storage and a 20,000 sqm secure bonded yard. This expansion provides Reload Logistics' clients with more efficient cargo handling and ample space for diverse commodities.
Sulphur Bulk Terminal in Richards Bay: Reload has invested in a 50,000 sqm Sulphur Bulk Terminal in Richards Bay, South Africa. This strategic addition complements the company's extensive portfolio, which includes a fleet of over 1,000 trucks, 200 wagons, and more than 1 million sqm of warehousing space across 13 countries.
Acquisition of Five Locomotives: To enhance service capabilities, Reload Logistics has acquired five diesel-electric mainline freight and passenger locomotives. These locomotives enable the company to handle larger cargo volumes, ensure timely deliveries, and offer greater routing flexibility while reducing its carbon footprint with energy-efficient technology.
"We are excited to unveil our new brand identity," said Roger Graham, Chief Marketing Officer of Reload Logistics. "This new look represents our growth and innovation. Our expansions and acquisitions underscore our commitment to providing top-tier service enabled by our forward-thinking solutions designed for our clients."
Visit our new website at www.ReloadLogistics.com to explore the refreshed brand and discover how Reload Logistics can provide tailored solutions for your logistics needs.
Distributed by APO Group on behalf of Reload Logistics.
For media inquiries, please contact:
Roger Graham
Chief Marketing Officer
Email: brand@reloadlogistics.com
About Reload Logistics:
Reload Logistics is one of Africa's leading providers of end-to-end supply chain solutions for metals, minerals, soft commodities, and project cargo. With over 1,000 trucks, rail wagons, and more than 1 million sqm of storage, Reload Logistics operates in more than 13 countries, providing seamless freight solutions across Africa, Asia, and Europe. Fueled by cutting-edge technology, Reload Logistics ensures real-time updates for clients in challenging supply chain environments, reaffirming its position as an industry innovator.
MultiChoice Group (www.MultiChoice.com/) demonstrated resilient operational performance for the year ended March 2024 (FY24), delivering a 26% trading profit margin in South Africa, while increasing trading profit in the Rest of Africa by 48%, despite very challenging macro-economic conditions. Clear strategic milestones were reached, with the group successfully launching Showmax 2.0, SuperSportBet and Moment, all of which are now revenue-generating and supporting the group's future growth prospects.
Download document: https://apo-opa.co/4cj3eXQ
“Four years after setting out a clear strategy of building Africa's entertainment platform of choice and investing in services to support a broader ecosystem, our three core segments are now fully operational: video entertainment, interactive entertainment and fintech. Our focus now shifts to building on these solid foundations to drive growth in these new areas, and on further enhancing business efficiency across our operations.
While we are not alone in feeling the challenges of a weak consumer environment, I am proud of the speed and effectiveness of the team in implementing strategic actions to retain customers, safeguard cash generation and drive costs savings which surpassed our targets. It is the strength of this team, the quality of the underlying business and the clarity of our strategy which underpins my confidence in delivering on our potential,” said Calvo Mawela, MultiChoice Group CEO.
Some key points for the past financial year:
MultiChoice is by far the largest producer of original content on the African continent. In FY24, the group again produced over 6 500 hours of local content and its local content library now has more than 84,000 hours of content, a 12% increase YoY.
The highlight for the year was Shaka Ilembe, which launched on Mzansi Magic in June to become Africa's biggest TV series. Filmed entirely on location in South Africa, it was created through the skills and contributions of over 8 000 people. The premiere episode attracted over four million viewers and was the top-performing show with an audience share of over 45% in its time slot.
Other content highlights of the year was Reyka (season 2), Devil's Peak and White Lies on linear (co-produced with Fremantle, Canal +, Abacus Distribution and BBC Studios-owned Lookout Point) and Spinners, Original Sin: My Son The Killer, and Catch Me a Killer, on streaming. Across Africa, the group launched 3 new proprietary channels - in Ethiopia (Maaddii Abol), Uganda (Pearl Magic Loko) and Mozambique (Maningue Magic Kool) while also producing content in Africa's 4th most spoken language, Oromo.
SuperSport broadcast 34 490 live events during the year – arguably more live sport than any other broadcaster in the world. Highlights included the Rugby World Cup in France, the Cricket World Cup in India, a second SA20 season in South Africa, AFCON, FIFA Women's World Cup in New Zealand and Australia, as well as the Netball World Cup in Cape Town.
SuperSport Schools more than doubled its registered user base during the year. The fast-growing platform displayed more than 49 000 hours of live programming across 43 different sports codes, covering 900 school sport festivals and events, featuring more than 1 100 schools, and over 14 500 teams.
SEGMENTAL REVIEW
South Africa Pay-TV (MultiChoice South Africa)
Due to a strong focus on retention initiatives, the decline in active subscribers in South Africa was limited to 5%, despite the challenging environment. The base now stands at 7.6 million households. Power outages experienced on 275 days of the year further discouraged potential subscribers without backup power.
Although the Premium bouquet is trending toward a stable base given the targeted retention efforts, the premium customer tier (which includes the Premium and Compact Plus bouquets) declined by 8%. The mid-market Compact base, which is most exposed to the macro-economic challenges, was down 9%, while the mass-market tier was 2% lower due to pressure in the Family base, the impact of loadshedding, and reduced decoder subsidies.
A consequent 3% decline in subscription revenues and softer advertising income weighed on the segment's total revenues (-2% to ZAR33.6bn), but was partially offset by strong traction from new revenue streams, especially the insurance business (NMSIS) which reported a 35% increase in premium revenue to almost ZAR1bn. Several interventions to reduce costs enabled the SA business to achieve a trading margin of over 26%.
Rest of Africa Pay-TV (MultiChoice Africa)
The business in the Rest of Africa faced the toughest macro-economic conditions in its core markets with high, double-digit inflation and extreme depreciation of local currencies, (especially in Nigeria, Angola, Kenya and Zambia) which impacted USD revenues by 32%.
The active subscriber base declined to 8.1m, but effective retention efforts contributed to an improved subscriber mix.
Due to the challenging market dynamics, the short-term focus of this business shifted from subscriber growth to safeguard profitability and cash flows. Several cost-saving initiatives were implemented, including scaling back significantly on decoder subsidies (-46% YoY or ZAR1.3bn), and reducing SG&A costs by ZAR500m. These interventions enabled the Rest of Africa business to increase trading profit by 48% YoY to ZAR1.3bn.
Sub-Saharan Africa SVOD (Showmax)
FY24 was a pivotal year for Showmax as it relaunched across 44 markets in sub-Saharan Africa on Peacock's world-class platform, which is 4K/HDR and ATMOS ready. Almost 100% of the eligible customer base was migrated to the new Showmax platform, and 88% of those migrated had reactivated their accounts in the seven weeks to year-end.
Alongside local content from M-Net, Mzansi Magic, Africa Magic and Maisha Magic, Showmax ramped up its local content, releasing 59 original movies and series in SA, Nigeria, Kenya and Ghana (FY23: 48). Popular shows that drove viewership included Tracking Thabo Bester, Koek, The Mommy Club, Youngins, Red Ink, Adulting, Outlaws and Real Housewives of Durban in South Africa, Cheta'm, Real Housewives of Lagos, Dead Serious, Wura and Flawsome in Nigeria, and Single Kiasi and Second Family in Kenya.
Showmax revenues for the year grew by 22% (+22% organic) to ZAR1.0bn, while trading losses increased to ZAR2.6bn. These losses came in below the expected range of ZAR3-4.0bn. As noted before, due to the partnership agreement signed in 2023, 30% of Showmax's funding requirements is contributed by Comcast.
Technology (Irdeto)
Irdeto's strong execution, enabled it to become the market leader in managed security services for video with a 22% market share. It also saw significant success in combatting piracy, taking down some 30 000 streaming piracy services during the year. Revenue increased by 17% (7% organic) driven by external customers across video entertainment, gaming and connected transport, with some additional uplift from a weaker ZAR against the USD. Disciplined cost management supported a 23% trading margin.
Irdeto shipped its first keyless solutions to leading customers, including one of the largest fleet operators in the US market. This resulted in a revenue increase of 119% YoY in the connected transport division, with revenue from new services now representing a combined 35.7% of total revenues.
Sports betting and interactive entertainment (KingMakers)
KingMakers reported strong growth in the online business in Nigeria, with monthly active users up 37% YoY and online gross gaming revenues up 26% YoY in constant currency. New products were also launched, including BetKing Casino and BetKing FootballGO, a virtual football sportsbook service.
Revenue of USD147m was affected by the weak Naira, while the business reported a positive EBITDA of USD2m. At the end of its December year-end the business had a retained cash balance USD113m to fully fund its growth initiatives.
KingMakers launched the SuperSportBet business in South Africa in January 2024. Its pre-game shows and live feed integration with SuperPicks, as well as the Playbook preview show were key drivers of uptake, further supported by SuperSportBet becoming the official betting partner of local soccer clubs, Kaizer Chiefs and Orlando Pirates.
Fin-tech (Moment)
After being founded during FY23, Moment officially launched in FY24. The business played a vital role in the Showmax relaunch stepping up to fill a critical payments gap. In January this year, Moment also began processing MultiChoice's payments for DStv, reaching a milestone of processing USD85m in payments in early March 2024.
To-date, Moment has processed local and cross-border card payments in 44 Showmax markets and is already accounting for more than 20% of Group's payment volumes. It also joined real-time payment networks in 18 countries, including South Africa, and is currently piloting instant payment and account activation for DStv.
The business raised an additional USD22m of funding, with MultiChoice contributing USD8m. As a result, Moment is now valued at USD82m and MultiChoice owns a 26% stake.
FUTURE PROSPECTS
The linear video-entertainment business remains the mainstay of the group's operations and provides a valuable base from which to expand its service offerings. The new streaming, interactive entertainment, fintech and connectivity services are having a positive impact on the business, and more importantly, on the lives of its customers. Going forward, the group will focus its efforts on scaling Showmax, Moment, SuperSportBet, as well as on driving growth in insurance (NMSIS), DStv Internet and DStv Stream.
To counter the challenges around an uncertain economic recovery globally and across the group's operating footprint, the group will continue to drive business efficiency and cost optimisation, with an increased cost savings target of ZAR2bn.
Not only should this mitigate the ongoing impact of currency volatility and consumer weakness on performance, but together with the company's strategic plans to continue adapting its platforms to cater to customers' evolving needs, it positions the group well to prosper once currencies stabilize and economies rebound.
Distributed by APO Group on behalf of MultiChoice Group.
MultiChoice Group Contact Details:
Litlhare Moteetee
Senior Manager: Corporate Communications
Litlhare.Moteetee@Multichoice.co.za
Meloy Horn, Head of Investor Relations
Mobile: +27 82 772 7123
meloy.horn@multichoice.com
About MultiChoice Group:
MultiChoice Group (MCG), listed on the Johannesburg Stock Exchange (JSE), is a leading provider of entertainment and related consumer services, with an expanding ecosystem, underpinned by scalable technologies, and a track record now spanning almost 40 years. MCG provides video entertainment products and services through its linear and streaming platforms to 23.5m households across 50 countries on the African continent and continues to grow by producing and acquiring the best local, sport and international content and offering tiered subscription packages and aggregated streaming services to its customer base. MCG's superior technology capabilities enables it to continue innovating around distribution, digital and payment solutions and content security to offer the best customer experience across the continent. Reaching up to 100 million individuals on a daily basis, the MultiChoice Group is using its scale and distribution to expand its platform to include sports betting and interactive entertainment, fin-tech services, household services (focused on internet connectivity and emergency response services) and ed-tech. Irdeto, MCG's technology business, provides platform cybersecurity services which protect over 6bn devices and applications globally for some of the world's best media and technology brands, as well as clients in the connected industries sector.
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