IOL Business News – Independent Online

14

IOL Business News – Independent Online

Independent Online, popularly known as IOL, is one of South Africa’s leading news and information websites bringing millions of readers breaking news and updates on Politics, Current Affairs, Business, Lifestyle, Entertainment, Travel, Sport, Motoring and Technology.

IOL also hosts the digital offerings of some of the country’s most prominent newspapers including The Star and Pretoria News in Gauteng, The Cape Times and Cape Argus in the Western Cape and The Mercury and Daily News in KwaZulu-Natal as well as national business publications Business Report and Personal Finance.

  • By Adri Senekal De Wet and Corrie Kruger Dr Kelvin Kemm , a nuclear physicist was appointed as chairperson of the South African Nuclear Energy Corporation (Necsa) in 2016. Adri Senekal De Wet Executive Editor of Business Report and Independent Analyst Corrie Kruger caught up with Dr Kemm for a most informative interview.Koeberg is South Africa’s only nuclear power station and contributes significant amounts of electricity to the grid, with each generator producing 921MW. We asked Dr Kemm for his opinion on the state of the Koeberg Nuclear facility in the light of fake news, misinformation, prejudice and factual situations […]
  • The Development Bank of Southern Africa (DBSA), a development finance institution wholly owned by the South African government, reported a record R3.8 billion net profit in the financial year ended March 31, 2022.In its financial results for the year ended March 31, 2022, released on Friday, the bank said profitability increased by more than 168 percent from R1.4 billion to R3.8 billion in the previous financial year.The bank said it successfully delivered infrastructure to the total value of R33.4bn, of which R15.1bn was infrastructure catalysed.According to the bank, 13 projects were successfully completed at the local government level, while infrastructure […]
  • THE Information Communication Technology Union (ICTU) has expressed its support for Independent Media following Standard Bank’s threat to terminate the company’s banking services.By Riyadh KarodiaICTU’s deputy president Origenous Mogoatlhe and general secretary Vulture Ntuluki met with employees of Independent Media in Cape Town yesterday (WED) to discuss the union’s position on the matter.In an interview with Independent Media, Mogoatlhe expressed his unflinching support for Independent Media and its employees following the decision of South Africa’s big banks to unbank Independent Media, Sekunjalo and other related companies.“We are there to assist in whichever way we can,” said Mogoatlhe. “We cannot allow […]
  • Shares in Grindrod Shipping leapt to a 22 percent high yesterday after it said that it achieved a stellar performance boosted by handysize and UltraMax bulk segments in its second quarter.The shares traded at an intraday high of R384.98, having increased by 305.42 percent in the past year.The global provider of maritime transportation services predominantly in the drybulk sector posted revenues for the three months ended June 30, 2022 of $161.6 million (R2.7 billion); gross profit of $64.6m (R1.088m), with profit for the period at $56.8m (R957m) or $2.99 (R50, 3) per ordinary share.The group declared a gross cash dividend […]
  • Fortress, with R44.9 billion of property assets and which tried unsuccessfully to collapse its dual share structure at a shareholder meeting on Wednesday, said yesterday that it was unable to comply with minimum distribution requirements of a Reit, and it was engaging with the JSE to manage the process.“Fortress’s MOI (memorandum of incorporation) prevents payment of a distribution where distributable earnings is less than the Fortress A distribution benchmark, in respect of that period, which is the case for both the interim and final six-month periods of FY2022,” the company, which is also South Africa’s biggest logistics real estate developer […]
  • RMB has arranged a R1.143 billion gender-linked bond issuance across three-year and five-year tranches, the first such bonds on the continent, for industrial group Barloworld.“The issuance of bonds with gender specific KPIs is testament to our commitment and enables our stakeholders to track our progress in this regard. The KPIs that have been outlined are in line with our diversity and inclusion journey,” said Barloworld finance director Nopasika Lila, in a statement.The bond will be listed on the JSE’s Sustainability Segment.“The gender-linked bonds have been issued in alignment with our gender transformation strategy and something that we as Barloworld are […]
  • As a result of technological developments and financial sector advancements, trading has advanced dramatically in the last decade. Improved execution, reduced latency, and access to markets at traders' fingertips result from continuous changes in the fintech sector. As a result, retail dealers have benefited from market circumstances previously only available to large institutions and investors, thanks to internet trading platforms.The current technological explosion has produced online trading platforms as one of its effects. For traders, high-quality software is available that can set up and execute orders in milliseconds for all of their desired instruments. We'll go over all the essentials […]
  • Standard Bank Group delivered record headline earnings of R15.3 billion for the six months to June 30, up 33 percent on the prior period.This was underpinned by balance sheet and franchise growth. Headline earnings per share increased 37 percent to 936 cents. Return on equity (ROE) came to 15.3 percent, up from 12.9 percent at the same time a year before. The cost-to-income ratio fell slightly to 56 percent from 58.3 percent.An interim of 515 cents per share equated to a dividend payout ratio of 55 percent.Management said the bank had exceeded internal revenue growth expectations, the credit loss ratio […]
  • The energy crunch throttling Europe's fertilizer output is threatening to force the world's farmers to use even less of the nutrients crucial for growing food.Soaring prices of gas, a key feedstock, have already curtailed a quarter of Europe's nitrogen fertilizer capacity, CRU Group estimates. Now, worries are mounting that the crisis will worsen. For Europe, that could mean even less production and more dependence on imports of ammonia, from which nitrogen products are made.That will also have a knock-on impact elsewhere. Faced with higher prices and tighter supplies, farmers may cut global fertilizer usage as much as 7% next season, […]
  • Recently foreign ministers from South Africa and other African and emerging economies met at the G20 Foreign Ministers Summit ahead of the G20 Summit for Heads of State in November. In his speech at the Summit, UN Secretary General, Antonio Guterres, called on world leaders to support developing nations, saying, “We need to work together to bring stability to global food and energy markets and support developing economies.”At the forefront of conversation at this year's summit for Heads of State will be how the world’s wealthier nations can work with emerging economies to drive economic growth.One driver of such growth […]
  • Creating jobs was also at the core of what the National Cycling Academy Forum (NCAF) did since it was looking at ways to support the interests of the cycling sport which was generally not cheap, says the National Cycling Academy Forum (NCAF).Buhle Madlala, the co-founder of this organisation for Rural and Township cycling enthusiasts is aiming to transform the face of cycling, said that they did this because they were not only focused on the high-performance riders and the pathway that would take the raw talent from grassroots to amateur all the way to the high-performance elite.“We have been looking […]
  • Standard Bank’s investment in the Universities South Africa (USAf) Entrepreneurship Development in Higher Education (EDHE) programme has led to the establishment of Economic Activation Offices (EAOs) at 10 South African public universities. EAOs prepare university students for entrepreneurship – helping young South Africans identify independent business opportunities and reducing dependence on the country’s constrained job market.“The creation of small businesses across South Africa can help unlock our country’s economic potential, and combat persistent unemployment,” says Ben Pretorius, Head of the Education Sector at Standard Bank. Currently, however, “the resources available to entrepreneurs are often not suitable for start-ups, or are […]
  • One can often overestimate the relationships you have with co-workers. That’s why people often differentiate between ‘work friends’ and ‘real friends’. However, this does not mean that important and genuine connections that can last a lifetime can not develop in the office. A Chinese woman was left horrified on what was supposed to be the best day of her life as only one out of the 70 colleagues she invited showed up. This is according to Et today, who also reported that the bride and her wedding planner had reserved six extra tables for her colleagues to sit and enjoy […]
  • Though NFTs have been around since 2014, 2021 was the year this novel technology broke through conventions, disrupting the world of collecting.Over the past 12 months, the NFT scene has evolved rapidly. And now there is a real, audited, insured NFT backed by one of the most highly graded, sought-after coin sets South Africa has ever produced. Understand the motivation behind the tokenisation of the R18 million ZAR coin collection and the collaboration between The South African Gold Coin Exchange ( SAGCE) & The Scoin Shop and South African NFT marketplace Momint.SAGCE & The Scoin Shop has over 45 years […]
  • This year’s birthing season for giant pandas at the China Conservation and Research Centre for the Giant Panda, which is located in southwest China’s Sichuan Province, started in March and is expected to last until the end of August.Since June, six pandas at the centre have given birth to cubs. So far, the centre has welcomed 11 new cubs, including five pairs of twins.Recently, a giant panda named Cuicui gave birth to a female cub that weighed 270.4 grams upon birth at the Wolong Shenshuping panda base in Sichuan. The cub has become the world’s heaviest captive panda cub.Related Video:!function(e,t,r){let […]
  • Santam, South Africa’s largest general insurer, has cautioned Western Cape residents to be careful and to exercise extreme vigilance in the wake of expected heavy rains.The SA Weather Service has advised the Disaster Risk Management Centre that Cape Town will experience heavy rain over the coming days. !function(e,t,r){let n;if(e.getElementById(r))return;const a=e.getElementsByTagName("script")[0];n=e.createElement("script"),n.id=r,n.defer=!0,n.src="https://playback.oovvuu.media/player/v1.js",a.parentNode.insertBefore(n,a)}(document,0,"oovvuu-player-sdk");The South African Weather Service has issued a weather advisory, warning that Thursday is expected to be the coldest day of the year, while Friday is expected to be the coldest morning with temperatures recovering slowly during the course of the day. The forecast predicts light snowfalls over the Western Cape […]
  • TymeBank, South Africa’s fastest growing digital bank, is bolstering its business banking offering for Mzansi’s small business owners with a series of new initiatives.TymeBank’s business customers stand to benefit from the launch of a new solution, TymePOS, a mobile point-of-sale app that turns an NFC enabled cellphone into a tap-and-go payment device. As a softpos solution, TymePOS offers the best pricing in the market for merchants of this size. It also has market-leading next-day settlements for merchants (industry standard is seven days). The app is available for download on the Google Play Store, and it will take a TymeBank Business […]
  • Curro Holdings, the independent school provider, grew its average learner numbers by 7 percent to 70 519 learners in the six months to June 30, while revenue increased by 15 percent to R2.06 billion.Earnings before interest, taxation, depreciation and amortisation (Ebitda) increased by 20 percent to R467 million.“The group recorded pleasing increases in learners, revenue, profitability and cash generated during the first half,” chief executive Andries Greyling said. The growth in learner numbers also continued, and by August 1 Curro had enrolled 71 011 learners, he said.Recurring headline earnings increased by 31 percent to R152m. Recurring headline earnings per share […]
  • By Mara GlennieAs the Founder of a national, multi-award winning NPO that assists women and children who have been raped, sexually assaulted and abused.I hereby reach out to you and hope you have space on your platform to publish my open letter to you as a woman editor of a national newspaper. A brutal war against women and children is underway in South Africa.It’s time to unmute. Women face war on our streets, in the workplace, at home, at school, and even at the Post OfficeIt’s time to unmute. Let’s take responsibility and protect the women and children of our […]
  • Johannesburg – Gcwalisa means to fill up or to refill in isiZulu and that is precisely what this retail outlet based in Alexandra, north of Johannesburg, does.Gcwalisa uses a weigh-and-pay trading model, allowing consumers to buy a selection of basic foodstuffs for as little as R5. This concept allows customers to purchase basic food items in variable quantities at a price that suits their budget.Founder Miles Khubeka conceptualised the idea based on his childhood memories and instances when his mother sent him to their local spaza shop to purchase sugar in a mug.Being able to buy two eggs or a […]