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Ster-Kinekor Appoints Motheo Matsau as a New Acting CEO

Ster-Kinekor Appoints Motheo Matsau as a New Acting CEO

Ster-Kinekor Theatres has announced the appointment of Motheo Matsau as its new acting CEO. Matsau, who was appointed as Deputy CEO in September 2019, will take over the reins effective 1 November 2020 from Ryan Williams, who has served as CEO from January 2018. Matsau has been with the company since May 2016 and was...

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Biz Headlines: Christo Wiese resigns as Shoprite chair after 41 years & Two women take CEO, CFO positions at Spur + More

Biz Headlines: Christo Wiese resigns as Shoprite chair after 41 years & Two women take CEO, CFO positions at Spur + More

Two women take CEO, CFO positions at Spur Val Nichas has been appointed as the new CEO of the Spur Corporation, which also owns Panarottis, John Dory’s, RocoMamas and Hussar Grill. Nichas was formerly the managing executive for quick service restaurants at Famous Brands, which owns Steers, Debonairs Pizza, Wimpy, Mugg & Bean, Fishaways and...

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Today’s Biz Headlines: Capitec Profit Decline, SAA Rescue Package & PPC Reports Strong Gains

Today’s Biz Headlines: Capitec Profit Decline, SAA Rescue Package & PPC Reports Strong Gains

Capitec profit slumps 78%, but client income has recovered Capitec’s headline profit fell by 78% to R650 million in the six months to end-August. The group impaired R5.8 billion for bad debts, and rescheduled payments for R7.5 million in loans. “Banking clients’ income was negatively impacted by the lockdown and decreased by 25% in April 2020...

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Today’s Biz Headlines: Mzansi lost more than 2m jobs in lockdown, ArcelorMittal on Recovery Plan & Big cut in diesel Prices Expected

Today’s Biz Headlines: Mzansi lost more than 2m jobs in lockdown, ArcelorMittal on Recovery Plan & Big cut in diesel Prices Expected

More than 2 million jobs lost in lockdown South Africa shed 2.2 million jobs during the second quarter, according to Statistics South Africa. While the employment figures reflected the largest decline in employment between the second and first quarter since 2008, Stats SA on Tuesday said unemployment fell substantially as well, decreasing by 2.8 million...

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Decentralizing Traditional Finance: Bridging CeFi and DeFi

Decentralizing Traditional Finance: Bridging CeFi and DeFi

CeFi and DeFi Explained With Bitcoin’s 10th birthday come and gone, developers and entrepreneurs are now looking to take a bigger bite out of the banking industry. Over the last 10-years, the crypto market has been largely aligned with the global banking system in the form of centralized financial services. In fact, only a handful of decentralized exchanges have existed...

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Uber wins long-running court battle over Operating in London

Uber wins long-running court battle over Operating in London

Uber won a long-running legal battle on Monday that will allow it to continue operating in London, a major victory for the ride-hailing app that has repeatedly clashed with the city’s transport authorities and its traditional cabdrivers. A judge on Monday said that Uber had overcome “historical failings” and was now a “fit and proper”...

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Tech titan Amazon launches a ‘personal shopper’ service for men’s fashion

Tech titan Amazon launches a ‘personal shopper’ service for men’s fashion

Amazon  is introducing a personal shopping service for men’s fashion. The service, now available to Prime members, is an expansion of the existing Personal Shopper by Prime Wardrobe, a $4.99 per month Stitch Fix rival, originally aimed at women. With Personal Shopper by Prime Wardrobe, an Amazon stylist selects an assortment of fashion items that match a...

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Energy Minister Gwede Mantashe says Eskom will buy Power from IPPs

Energy Minister Gwede Mantashe says Eskom will buy Power from IPPs

Energy Minister Gwede Mantashe said electricity from independent power producers (IPPs) must be purchased by Eskom and programmes will target connection to the grid as soon as reasonably possible. Energy Minister Gwede Mantashe has officially confirmed that government now intends to buy 6,800 megawatts of solar and wind power. The plan is outlined in the...