Shoprite goes to Kenya whilst volatility hits its bottom

By: SATopShops Africa’s largest retailing group Shoprite is pressing ahead with its continental expansion, with Kenya being its latest target despite encountering tough trading conditions due to economic/currency volatility across different markets over the past few years. On reporting 3.1% growth in turnover to R145.3 billion (About $10 billion) in the 12 months to July … Read moreShoprite goes to Kenya whilst volatility hits its bottom

ANC: Competition authorities must have powers to break up monopolies

SATopShops South Africa’s  ruling party, the African National Congress (ANC), has called on the country’s parliament to fast track the processing of the Competition Amendment Bill which promises to introduce drastic measures of tackling the domination of the key sectors of the country’s economy by a few  firms. Key propositions from the bill include enhancing … Read moreANC: Competition authorities must have powers to break up monopolies

Comair hopes to jump-start growth after renewing partnership with Sabre

SATopShops Comair, the JSE listed airliner which operates kulula.com and a British Airways franchise from South Africa has renewed its systems service relationship with Sabre Corporation. The NASDAQ listed global travel technology provider, Sabre Corporation, provides Comair with passenger reservations system, commercial systems and operations systems. Comair has used Sabre’s technology since 2012. The new … Read moreComair hopes to jump-start growth after renewing partnership with Sabre

How to get a free B-BBEE certificate via the CIPC website: A step by step guide

PBM Small enterprises can now apply and be issued with a Broad Based Black Economic (B-BBEE) certificate via website of the Companies and Intellectual Property Commission (CIPC) and as part of the CIPC’s e-services. Lunched on 1 April 2018 the B-BBEE certificate service works in the following manner. The following conditions apply: Only directors of companies … Read moreHow to get a free B-BBEE certificate via the CIPC website: A step by step guide

Yekani, a black industrialist candidate, gets R400 million support

Ujuh Reporter Yekani Manufacturing is a 100% black-owned ICT electronics and manufacturing company has received a total of R400 million governmental support structured as R350 million from the Special Economic Zones Fund and a R50 million grant for machinery under the Black Industrialists Programme. Operating from the East London Special Economic Zone (ELIDZ), Yekani currently manufactures … Read moreYekani, a black industrialist candidate, gets R400 million support

Retailing group, Massmart, sees red and is cutting jobs

SATopShops Massmart, the parent company of mainstream retailers like Game, Makro, Builders Warehouse, Dionwired, Rhino Cash & Carry, Trident, Cambridge Food and Jumbo, is seeing red and has resorted to a massive rationalisation process that includes cutting down jobs. The group estimates that its earnings for the six-month period to June, before taking the restructure costs … Read moreRetailing group, Massmart, sees red and is cutting jobs

Diversity will also be served as powerful Olufunke Ighodaro takes up Massmart post

SATopShops Massmart, the Johannesburg based retailing group which is controlled by global American giant Walmart, announced some changes to its board including the appointment of Olufunke Ighodaro as non executive director and a member of audit and risk committees. Ighodaro joins a board chaired by Kuseni Dlamini and in addition to her formidable experience and expertise, brings … Read moreDiversity will also be served as powerful Olufunke Ighodaro takes up Massmart post

South African Airways: On the suspension of SA Express’ operations

SATopShops Following the suspension of SA Express operating license over maintenance-related safety issues, its parent company South African Airways said it has noted the decision by the aviation regulator to suspend all South African Express flights. The South African Civil Aviation Authority (SACAA) grounded South African Express flights after uncovering 17 non-compliance areas, five of which are … Read moreSouth African Airways: On the suspension of SA Express’ operations

Regulator grounds South African Express over safety concerns

SATopShops South Africa’s state owned regional airliner, SA Express, has been grounded after the regulator discovered that the entity had breached maintenance-related safety measures. The grounding was effected by the South African Civil Aviation Authority (SACAA) which said it has uncovered serious non-compliance, 17 in total, of which five are categorised as Level 1 breaches. … Read moreRegulator grounds South African Express over safety concerns

Tiger Brands financials hit after listeriosis crisis

SATopShops The listeriosis haunted South African food manufacturing giant, Tiger Brands, has suffered a R365 million hit in its income statement due to efforts to shake off the listeriosis crisis emanating from one of its processed meat plant. The  JSE listed firm could incur more devastating costs as it faces legal suits from victims of the listeriosis … Read moreTiger Brands financials hit after listeriosis crisis