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You are here: Home / Archives for South Africa

South Africa

13 June 2024

From ‘casual drinking’ to rehab: How one local man managed to get his life back

Location: MyPR

For as long as he could remember, Dudley Stops (58) had enjoyed a drink in social settings, whether it was camping, at a braai with friends, or on the golf course. However, everything changed after Covid-19 when he was forced to face the reality of his situation – he was an alcoholic. “When lockdown started, …

Read moreFrom ‘casual drinking’ to rehab: How one local man managed to get his life back
12 June 2024

New law proposed to stop SLAPP suits

Location: News

The Centre for Applied Legal Studies and Right2Protest hope legislators will adopt it to protect journalists and activists

Read moreNew law proposed to stop SLAPP suits
12 June 2024

Royalties in the Music Industry are a primary source of revenue

Location: Entertainment, MyPR

Music rights for artist, record labels and distributors. How income is generated for music royalties from different avenues. The different streams of income for royalties generated from music. The music industry is known for producing the most talented artists in the world. Producing hits after hits which have been soundtracks to many people’s lives well …

Read moreRoyalties in the Music Industry are a primary source of revenue
12 June 2024

Passing of Malawi Vice President mourned

Location: News

Passing of Malawi Vice President mourned

President Cyril Ramaphosa has, on behalf of the government and people of South Africa, offered his condolences to the government and people of the Republic of Malawi on the passing of Vice President Dr Saulos Chilima.

Chilima and nine others died when the aircraft they were travelling in crashed on Monday.

“This is a moment of tragedy in which we are united with the people of Malawi as you mourn the passing of a youthful leader who advanced the aspirations of his country and of our youthful continent from his position in Malawi’s Presidency.

“This is a loss felt across our country and region and we pray that the people of Malawi will be blessed with the fortitude and peace required in this moment of deep sadness and national mourning,” President Ramaphosa said in a statement on Tuesday.

The Presidency added that President Ramaphosa also offered “his deep condolences to Vice-President Chilima’s family”.

“President Ramaphosa’s thoughts are also with His Excellency President Lazarus Chakwera and the Cabinet of the Republic of Malawi,” the Presidency said. – SAnews.gov.za

 

NeoB
Wed, 06/12/2024 - 09:02

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Read morePassing of Malawi Vice President mourned
12 June 2024

5 Key security features investors should look for in residential estates

Location: MyPR

Safety and security remain a top consideration for property investors in South Africa, with estate developments remaining in high demand. While estates often lead the way in security measures, it’s important to understand exactly what features are effective in keeping homes and residents safe. “Gated estates continue to attract attention for all the right reasons, …

Read more5 Key security features investors should look for in residential estates
12 June 2024

President Ramaphosa signs three bills into law

Location: News

President Ramaphosa signs three bills into law

President Cyril Ramaphosa has in terms of Section 79(1) of the Constitution assented to and signed into law the National Land Transport Amendment Bill, the Economic Regulation of Transport Bill and the Municipal Fiscal Powers and Functions Amendment Bill.

This in accordance with Section 79(1) of the Constitution.

The National Land Transport Amendment Bill

According to the Presidency, the National Land Transport Act was brought to the President’s desk in 2020 but was sent back to the National Assembly for reconsideration.

“The revised Bill amongst other seeks to amend the National Land Transport Act, 2009, to insert certain definitions and amend others and provide for non-motorised and accessible transport.

“The amendments bring the Principal Act up to date with new developments and provide for certain powers of provinces and municipalities to conclude contracts for public transport services. It further expands the powers of the Minister to make regulations and introduce safety measures,” the Presidency said.

The Economic Regulation of Transport Bill

The Economic Regulation of Transport Bill seeks to create economic growth and welfare in South Africa “by promoting an effective and productive transport sector”.

“That includes establishing a Transport Economic Regulator responsible for regulating prices in the transport sector, investigate complaints, monitor and enforce compliance in the transport sector.

“The Bill further seeks to establish a single regulatory body to focus on the economic regulation of the transport industry,” the Presidency stated.

The Municipal Fiscal Powers and Functions Amendment Bill

The Municipal Fiscal Powers and Functions Amendment Bill according to the Presidency, “seeks to regulate the power of municipalities to levy development charges”.

“It also establishes a system for the municipalities to impose levies for land development applications as a condition for granting or approval of such an application for persons to use or develop land in a municipality.

“The Bill empowers municipalities, where authorised by national legislation, to impose taxes, levies and duties appropriate to local government,” the Presidency concluded. – SAnews.gov.za

NeoB
Wed, 06/12/2024 - 09:13

764 views
Read morePresident Ramaphosa signs three bills into law
12 June 2024

Siqalo Foods Celebrates Hospitality Entrepreneurs with “Share” Networking Event

Location: MyPR

Siqalo Foods, manufacturer of popular spreads such as Rama and Flora in South Africa, hosted beneficiaries of its Sekela Hospitality Support Programme (Sekela HSP) on Monday 3rd June 2024, at a special, “Share” networking event. Held at the company’s office in Westville, recipients were invited to meet with the team from Siqalo Foods that has …

Read moreSiqalo Foods Celebrates Hospitality Entrepreneurs with “Share” Networking Event
12 June 2024

The Future of Gumtree SA is Local

Location: Entertainment, MyPR

June 2024 , Cape Town, South Africa -Since late 2022, Gumtree SA has been entirely SA-owned for the first time. “Becoming locally-owned, hosted and controlled has been a significant strategic boost for Gumtree South Africa (SA)”, says Marcus Badach, Chief of Staff at Gumtree South Africa. “This localisation and the resultant agility have made a …

Read moreThe Future of Gumtree SA is Local
12 June 2024

Clearworld Suppliers In Partnership With Sanpellegrino And Acqua Panna Launch Groundbreaking Upliftment Scholarship Programme With Sommeliers Academy In South Africa

Location: MyPR

Clearworld Suppliers along with Sanpellegrino and Acqua Panna have collaborated with the Sommeliers Academy, to introduce the pioneering Upliftment Scholarship Programme in South Africa. This initiative aims to elevate the standard of service in South African restaurants and bar venues to an international level. Administered by the Sommeliers Academy, this dynamic Scholarship Programme is designed …

Read moreClearworld Suppliers In Partnership With Sanpellegrino And Acqua Panna Launch Groundbreaking Upliftment Scholarship Programme With Sommeliers Academy In South Africa
12 June 2024

Reload Logistics Unveils New Brand Identity and Major Expansions

Location: Business
Reload Logistics

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.

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12 June 2024

Tennis SA And American Express To Host Wimbledon Fan Park In Johannesburg: The Amex Tennis Town

Location: MyPR

Following the announcement of their multi-year partnership in March 2024, Tennis South Africa (TSA) and American Express are pleased to host the Amex Tennis Town, a fan park during The Championships, Wimbledon 2024. American Express is operated in South Africa through its licensee Nedbank. The Amex Tennis Town will be held from 5 to 14 …

Read moreTennis SA And American Express To Host Wimbledon Fan Park In Johannesburg: The Amex Tennis Town
12 June 2024

South Africa’s Constitution charts our way

Location: News

South Africa’s Constitution charts our way

By Michael Currin

South Africa recently concluded its seventh democratic general elections, ushering in a new chapter in our democracy, as there was no outright majority winner. While this may in some regards feel like unchartered waters for many South Africans and will require political parties to work together in a new way through a government of national unity, this is not entirely new territory for our nation. Above all, this period will be guided by our world acclaimed Constitution, which lays the foundation for a democratic and open society in which government is based on the will of the people.

The Constitution was designed to create an environment for all South Africans to work together in the interest of advancing our nation and the rights of her citizens. It enshrines the rights of every South African and explains our obligations as citizens to each other and the country within those rights.

Importantly, in this period following the elections, the Constitution sets out specific timelines within which members of elected political parties must be sworn in as new lawmakers and within which the National Assembly must sit and elect the Speaker and President. The first sitting of the National Assembly must occur no more than 14 days after election results are declared.

As the legislative authority of the Republic, the National Assembly must ensure a government by the people by choosing a President, who must within five days, then assume office by swearing or affirming faithfulness to the Republic and obedience to the Constitution at an inauguration ceremony. The Constitution empowers the President to appoint the Deputy President and Ministers and assign them functions. 

These precepts of the Constitution have long been a foundation upon which we have built our nation and continues to guide our actions in the administrative processes of our democracy. We once again lean on our nation’s founding document for direction, stability and certainty.

Moreover, our Constitution empowers government and society at large to take steps to promote equality by advancing people who have been disadvantaged by unfair discrimination.

It is regarded as one of the most progressive in the world and many of its provisions are based on the Freedom Charter. The charter was adopted in 1955 in Kliptown following wide consultation with thousands of people about the South Africa they would like to live in. Its preamble is incorporated in the Constitution.

While South Africa is a diverse country it is strengthened by a common heritage and common values as outlined in the Constitution. Our social cohesion as a nation is informed and rooted within our Constitution. It shows how South Africans can unite and work towards a common goal.

The Constitution anchors our vision of a “South Africa that belongs to all who live in it, united in our diversity”. Without a high degree of social cohesion and without unity of purpose it is difficult to envisage South Africa overcoming the obstacles that stand in the way of prosperity and equity.

It is important to stress that our Constitution does not solve problems in themselves; however, it gives us a platform to solve problems. It contains checks and balances to ensure accountability and the protection of the rights of citizens are adhered to and respected.

As the country continues on its democratic journey towards a new administration, the work of the State, will not be impacted. Our service delivery programmes continue in line with commitments in the Strategic Plans and Annual Performance Plans of government departments. The Constitution compels officials in all institutions of public administration to be accountable to the people they serve.

South Africans can therefore rest soundly, knowing that our democracy remains robust and strong in line with our Constitutional commitments. As we prepare to enter our seventh administration, let us make the tenets of the Constitution part of our daily lives to build a better nation.

*Michael Currin is the Deputy Director-General: Intergovernmental Coordination and Stakeholder Management at GCIS

Janine
Wed, 06/12/2024 - 10:39

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Read moreSouth Africa’s Constitution charts our way
12 June 2024

One Mpox patient passes away, while four are still in recovery

Location: News

One Mpox patient passes away, while four are still in recovery

Health Minister Dr Joe Phaahla has announced that one of the five Mpox patients in South Africa passed away on Monday at Tembisa Hospital in Gauteng.

This comes after two cases were confirmed in Gauteng and three in KwaZulu-Natal.

“In all cases, patients are males aged between 30 to 39 years without travel history to the countries currently experiencing an outbreak, which suggests there is local transmission of this infectious disease in the country,” the Minister said on Wednesday.

According to the Minister, the deceased was originally from KwaZulu-Natal but has not been at home since December last year. 

The Minister made these announcements during a media briefing on Wednesday centred on the management of the monkeypox outbreak in the country. 

Phaahla stated that all cases were classified as severe cases, as per the World Health Organisation (WHO) definition requiring hospitalisation.

The patients have comorbidities and have been identified as key populations, including men who have sex with men (MSM).

The Minister told the media that one of the patients has since been discharged, one is isolating at home, while two are still in hospital. 

Phaahla explained that the sequencing analysis of three of the cases revealed Mpox clade IIb, a variant dominant in the multi-country and post-outbreak, which began in 2022. 

The last time South Africa recorded positive cases of Mpox was in 2022, when five cases were confirmed in the Western Cape, KwaZulu-Natal, Limpopo and Gauteng, with no cases reported in 2023.

“So, the one in our country is consistent with the multi-country outbreaks in various parts of the world and different from the strain variant in the DRC,” he explained. 

Contact tracing 

The National Institute for Communicable Diseases (NICD), the Minister said, continues with epidemiological and surveillance activities to identify cases for investigation to estimate the magnitude of disease through systematic data collection and analysis. 

He told the media that 38 contacts were identified in KwaZulu-Natal, while one of the patients indicated to have had sexual contact with multiple partners, including both males and females.

Meanwhile, the Outbreak Response Team have embarked on contact tracing and case finding in the affected provinces.

“Encourage people who may know that in one way or another have been associated with someone with the disease or showing any symptoms of skin lesions or rashes to approach their nearest health facility.”

Vaccine

Currently, there is no registered treatment for Mpox in South Africa. 

However, the Minister said the WHO recommends using Tecovirimat, also known as TPOXX, for treating severe cases, such as in individuals with a CD4 count of less than 350.

He announced that the department has obtained TPOXX via Section 21 South African Health Products Regulatory Authority (SAPHRA) approval on a compassionate use basis for known patients with severe disease.

The Minister said they are still looking at obtaining vaccines and considering various options, including who will be the priority target in terms of immunisation. 

However, he believes that high-risk groups should be prioritised, including sex workers, MSM, healthcare workers, and laboratory workers. 

The department, working together with partner organisations, has intensified both targeted and public awareness to empower the citizens with crucial information related to Mpox. 

The Minister also emphasised the importance of managing stigma for key populations at risk, while there have been no recommendations for any travel restrictions.  

“I think one can safely say that, especially for adults, anybody who develops those kinds of eruptions on their skin, even if you may think it might be chickenpox, even young people, should seek medical attention.” 

He said government endeavours to prevent any further deaths. 

“We already have one fatality and he was quite sick, and were informed that even though the antiviral agent because of the severity of the sores, he could not swallow his treatment and died within a few days.” – SAnews.gov.za 
 

Gabisile
Wed, 06/12/2024 - 12:50

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Read moreOne Mpox patient passes away, while four are still in recovery
12 June 2024

Pesticides are polluting Western Cape rivers all year round

Location: News

Studies of three river catchments have found an association between pesticide exposure and poorer brain function in children

Read morePesticides are polluting Western Cape rivers all year round
12 June 2024

MultiChoice reports resilient performance while expanding its platform

Location: Business
MultiChoice Group

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:

  • Subscriber base: Given the challenging consumer environment, overall active subscribers declined by 9%. This was mainly due to a 13% decline in the Rest of Africa business, with Nigeria, Angola and Zambia most affected, while the South African business was more resilient, declining by only 5%.   
  • Group revenue: increased by 3% on an organic basis. However, due to weaker local currencies and consumer pressure, reported Group revenue declined by 5% to ZAR56.0bn.
  • Subscription revenues: grew by 2% on an organic basis. However, on a reported basis, subscription revenues declined by 7% due to a weaker Naira.
  • Group trading profit: increased 24% on an organic basis, despite the additional ZAR1.4bn investment in Showmax to drive future growth. After factoring in the ZAR4.5bn impact related to foreign exchange weakness, reported trading profit declined by 21% to ZAR7.9bn.
  • Positive operating leverage: Given the positive impact of the lower expenditure (including ZAR1.9bn in cost savings and ZAR1.5bn in reduced decoder subsidies), the group achieved positive operating leverage of 4.3% (i.e. a 3.3% organic revenue increase against a 1% organic reduction in operating expenses).
  • Adjusted core headline earnings: Higher realised hedging gains and benefits from a narrower gap between official and parallel Naira rate, was more than offset by the weaker trading profitability, resulting in adjusted core headline earnings (which now includes losses on cash remittances after tax and minorities) decreasing by 20% to ZAR1.3bn.
  • Free cash flow: amounted to ZAR589m, impacted by lower profitability and the  ZAR1.7bn in Showmax platform payments.
  • Retained cash and cash equivalents: ZAR7.3bn in cash (before short-term commitments) and access to ZAR4.1bn in undrawn borrowing facilities provides significant headroom and flexibility to fund opportunities.

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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12 June 2024

Unleashing Innovation – The 2024 BCX Digital Innovation Awards Ignite South Africa’s Tech Future!

Location: MyPR

Unleashing Innovation: The 2024 BCX Digital Innovation Awards Ignite South Africa’s Tech Future! 12 June 2024, Centurion: The BCX Digital Innovation Awards are back, and this year’s event promises to be more thrilling than ever! Celebrating its sixth anniversary, the competition has evolved into the premier stage for trailblazing technology professionals and forward-thinking organisations across …

Read moreUnleashing Innovation – The 2024 BCX Digital Innovation Awards Ignite South Africa’s Tech Future!
12 June 2024

Ignition Group Sponsors Local School’s First Digital Library

Location: Entertainment, MyPR

June 2024, Durban KwaZulu-Natal –  Since 2022 Ignition Group (Ignition) has been working in conjunction with The Learn Project on the Book Corners and School Library initiative.  “We believe that by supporting literacy and reading programmes for foundation phase, learners at less privileged schools get the base they need to participate in and benefit from …

Read moreIgnition Group Sponsors Local School’s First Digital Library
12 June 2024

Baartman Lives The Dream In The Big Apple

Location: Sport

NEW YORK: Proteas seamer Ottneil Baartman is living the dream after a staggering ICC Men’s T20 World Cup debut earlier this...

Read moreBaartman Lives The Dream In The Big Apple
12 June 2024

June in Jozi hots up with inaugural Mzansi Food & Drink Show

Location: MyPR

11 June 2024 – Set to become South Africa’s biggest culinary extravaganza, the Mzansi Food & Drink Show will rock the Kyalami International Convention Centre from 15 to 17 June 2024. The brainchild of RX Africa, the company behind some of the country’s premiere events, including Decorex, Comic Con Africa, Africa Travel Week and FAME …

Read moreJune in Jozi hots up with inaugural Mzansi Food & Drink Show
12 June 2024

Mokoka set for Absa RUN YOUR CITY DURBAN 10K – his final race before the Olympic Marathon

Location: MyPR

With less than two months until the Olympic Games commence in Paris, three-time Olympian Stephen Mokoka has confirmed that the iconic Absa RUN YOUR CITY DURBAN 10K on Sunday 7 July 2024, will be his final race before competing in the Olympic Marathon five weeks later. “The Absa RUN YOUR CITY DURBAN 10K is going …

Read moreMokoka set for Absa RUN YOUR CITY DURBAN 10K – his final race before the Olympic Marathon
11 June 2024

BMA refutes claims of inefficiency at ORTIA

Location: News

BMA refutes claims of inefficiency at ORTIA

Border Management Authority (BMA) Commissioner, Dr Michael Masiapato, has refuted claims regarding the functionality and efficiency of the OR Tambo International Airport (ORTIA) passenger movement processing system.

The BMA has noted with concern several erroneous reports suggesting that systemic transitions are taking place at ORTIA in Gauteng. The authority said these false reports have caused unnecessary concern among travellers and stakeholders.

Masiapato denied the allegations and reaffirmed the authority’s commitment to maintaining a robust, secure and efficient border management system.

“The current processing systems at BMA Immigration services is fully operational and designed to handle the high volume of traffic efficiently.

“There are no system challenges at ORTIA or any of our ports, contrary to the claims made in the public domain. Our records indicate that average processing times at ORTIA remain within acceptable international standards.

“We continuously monitor and analyse processing times to identify and address any potential bottlenecks,” Masiapato said.

The BMA said it prioritises law enforcement activities at all ports, as well as the safety and security of all individuals entering and exiting the country.

“Our systems incorporate advanced security features to detect and prevent unauthorised entry. The BMA also collaborates closely with various stakeholders such as Airports Company South Africa and customs authorities to ensure a seamless border management process.

“We encourage the public to rely on official communications from the BMA for accurate information,” the BMA said in a statement. – SAnews.gov.za

Edwin
Tue, 06/11/2024 - 09:04

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Read moreBMA refutes claims of inefficiency at ORTIA
11 June 2024

Pandor believes BRICS has opportunity to shape a ‘refreshed’ global order

Location: News

Pandor believes BRICS has opportunity to shape a 'refreshed' global order

The world is at a crucial turning point, requiring decisive leadership and innovative ideas, and BRICS has a unique opportunity to influence a refreshed global order.

This is according to International Relations and Cooperation Minister, Dr Naledi Pandor, who spoke in Russia on Tuesday.

“The BRICS bloc is a legitimate voice of the global South regarding global governance reform. We also remain a critical player in global agenda setting for economic, political and social cooperation,” Pandor said. 

The Foreign Ministers from the expanded BRICS (Brazil, Russia, India, China and South Africa) group of nations met for a two-day meeting focused on current international relations, global governance reform and conflict resolution.

The meeting, chaired by Russian Foreign Minister Sergey Lavrov, is the first since the bloc expanded in 2023 to include Egypt, Iran, the United Arab Emirates, Saudi Arabia and Ethiopia. 

The Minister believes that the expansion of BRICS is evidence of the bloc’s growing importance and the critical role of cooperation in collectively promoting the shared interests and values of emerging and developing countries.

“It also signals our hunger for a body in the globe that embraces progressive ideals and seeks to alter the current nature of international relations to a more inclusive, equitable and development-oriented world.”

She told her colleagues that the “current complex divided global environment” demands that BRICS continue to advocate for multilateralism to play a critical role in fostering stability and cooperation in times of significant geopolitical uncertainty.  

“Therefore, for our collective, multilateralism remains the only solution to successfully address global challenges such as poverty, inequality, underdevelopment, climate change, migration, disease, human trafficking, terrorism, and hunger, and to ensure an environment of sustainable peace and continuous development.  

“I am convinced that our mutually beneficial cooperation through BRICS uplifts communities instead of increasing their vulnerability,” she added. 

The Minister said it is evident that the world is currently falling short of achieving the development goals outlined in the 2030 Agenda for Sustainable Development. 

This, she said, was due to increased economic risk for the most vulnerable and persistent low growth for those with the greatest need. 

“We have to urgently accelerate our collective action to achieve the 2030 Agenda for Sustainable Development.” 

South Africa, Pandor stressed, is committed to a successful Summit of the Future. 

“We are convinced that it could support efforts that bridge the development divide and provide new solutions to tomorrow’s challenges. 

“We believe the summit presents an opportunity to revitalise the multilateral system and fulfil our promises to reform the current system of global governance to make it more representative and inclusive for everyone,” Pandor said. – SAnews.gov.za 

 

Gabisile
Tue, 06/11/2024 - 13:07

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Read morePandor believes BRICS has opportunity to shape a ‘refreshed’ global order
11 June 2024

Call to end Palestinian suffering

Location: News

Call to end Palestinian suffering

South Africa will continue to do everything within its power to preserve the existence of the Palestinian people as a group, and to end all acts of apartheid and genocide.

This is according to the International Relations and Cooperation Minister, Dr Naledi Pandor, who spoke in Russia on Tuesday.

The Foreign Ministers from the expanded BRICS (Brazil, Russia, India, China and South Africa) group of nations met for a two-day meeting focused on current international relations, global governance reform and conflict resolution.

Pandor told her colleagues that South Africa welcomes the order by the International Court of Justice (ICJ) of 24 May 2024, ordering Israel to halt military action in Rafah. 

“We see the provisional measures ordered by the court thus far as a signal of a decisive victory for the international rule of law and a significant milestone in the search for justice for the Palestinian people. 

“Nevertheless, the injury to International Human Rights Law, inflicted by Israel, remains significant. We, therefore, call on the Office of the Prosecutor of the International Criminal Court to also act to ensure accountability for those committing war crimes.” 

The meeting, chaired by Russian Foreign Minister Sergey Lavrov, is the first since the bloc expanded in 2023 to include Egypt, Iran, the United Arab Emirates, Saudi Arabia, and Ethiopia.

Pandor reiterated South Africa’s call for a two-State solution, which is of the view that it would bring lasting peace and address the root causes of the ongoing Israel-Palestine conflict. 

“A solution is long overdue, and an agreement must urgently be negotiated. The agreement must result in the establishment of an independent and viable Palestinian State, based on 1967 borders with East Jerusalem as its capital that exists side by side, in peace and security with Israel.” 

She also echoed the country’s firm support for the full membership of Palestine as a member State of the United Nations (UN).

“Please allow me also to again emphasise the urgent need for BRICS to contribute to the reform of the UN Security Council. The inability of the Security Council to act and respond effectively to conflict situations such as in Gaza further supports the sentiments of this urgent call to reform.” 

She called on all UN member States to support Africa’s call for the historic injustice committed against the continent to be “remedied” through an acknowledgement of the role it plays in current global affairs.

Delaying reform of the Security Council, she said, presents serious negative implications for the multilateral system, undermining the credibility of global peace and security and threatening to reverse the gains made in the past 78 years.

“Please allow me to conclude my intervention today with a sincere call to all of us to capitalise on the current opportunities for partnership in this meeting and to tackle global challenges that stand in our way towards a stronger and more empowered global South in a stable multipolar world.” – SAnews.gov.za

Gabisile
Tue, 06/11/2024 - 13:37

86 views
Read moreCall to end Palestinian suffering
11 June 2024

Mining is destroying crucial Eswatini nature reserve

Location: News

The mine has the king’s blessing but no environmental authorisation

Read moreMining is destroying crucial Eswatini nature reserve
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