SANRAL Director Resignation Sparks Governance Reorganization Amid Infrastructure Projects

Business News, Capital Markets, Investing News, Stock Market /
  • Ms. Noluphumzo Leonora Noxaka resigns from SANRAL’s Board, effective July 2, 2024.
  • SANRAL initiates reconstitution of sub-committees following Noxaka’s departure.
  • Engagement with National Treasury and Department of Transport underway to fill board vacancies.

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Tongaat Hulett Equity Plan: Vision Investments to Acquire 97.3% Stake Amid Delisting Risks

Business News, Capital Markets, Finance News, Investing News, Stock Market /
  • Tongaat Hulett Limited implements a business rescue plan involving an equity subscription.
  • Vision Investments will acquire 97.3% of THL’s share capital through the subscription.
  • Shareholders face potential delisting risks despite plans to retain THL on the JSE.

Tongaat Hulett Equity Plan: Vision Investments to Acquire 97.3% Stake Amid Delisting Risks Read More »

Clicks Group Sells Unicorn Pharmaceuticals, Clears Path for New Licenses Amid Legal Resolution

Business News, Capital Markets, Finance News, Investing News, Stock Market /
  • Clicks Group will sell its stake in Unicorn Pharmaceuticals to comply with a Constitutional Court judgment.
  • The sale will allow the Department of Health to issue new retail pharmacy licenses to Clicks Group.
  • The divestment supports Clicks Group’s expansion in providing accessible healthcare across South Africa.

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Land Transport Trends: Freight Volumes Drop 6.5%, Passenger Journeys Surge 38.1% in April 2024

Economy /
  • Freight volumes declined by 6.5% in April 2024 compared to April 2023, with income slightly down.
  • Income from freight transportation rose by 2.1% in the three months ending April 2024.
  • Passenger journeys soared by 38.1% in April 2024, accompanied by a 17.1% income increase.

Land Transport Trends: Freight Volumes Drop 6.5%, Passenger Journeys Surge 38.1% in April 2024 Read More »

Brait PLC Reports Strong Financial Year with Key Assets Showing Robust Growth and Profitability

Business News, Capital Markets, Finance News, Investing News, Stock Market /
  • Brait PLC’s FY 2024 results showcase impressive growth and profitability across key assets.
  • Virgin Active’s EBITDA surged to £80 million, up from £33 million in September 2023.
  • Premier recorded a 19% EBITDA growth to R2.1 billion, with a leverage ratio of 0.9x.

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Lightning-Fast Delivery Service

Takealot Launches Lightning-Fast Delivery Service in Cape Town

Business News, News /
  • Takealot has expanded its on-demand delivery service, TakealotNOW, to cover several areas in the greater Cape Town region, offering customers a curated selection of products delivered within an impressive 60-minute timeframe.
  • This expansion reflects Takealot’s commitment to meeting changing consumer preferences and habits, providing swift delivery and convenience beyond traditional grocery-focused services.
  • The integration of TakealotNOW into the Mr D app marks a significant milestone, enhancing convenience for customers and offering complimentary deliveries to TakealotMORE subscribers, reinforcing Takealot’s position as a leader in South Africa’s e-commerce landscape.

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Rand Defies Political Turbulence,

Rand Defies Political Turbulence, Strengthens Amidst Economic Uncertainty

Government, News /
  • Rand Resilience Amid Political Uncertainty: Despite wavering support for the ruling ANC, recent polling indicates continued favor for the party, bolstering the rand’s stability amidst political turbulence.
  • Analysts Assert ANC Dominance: Economic experts emphasize the ANC’s enduring significance in South Africa’s political landscape, attributing the rand’s strength to the party’s historical legitimacy and grassroots support.
  • Global Factors Impact Rand: External influences, particularly oil prices surging to $88.70 per barrel, contribute to the rand’s performance, highlighting the currency’s vulnerability to international market dynamics and geopolitical tensions.

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