Tebogo Malaka, the chief executive of the Independent Development Trust (IDT), has been placed on a precautionary suspension following a forensic investigation into a problematic R836 million oxygen plant project. While no official finding of misconduct has been made against her, the suspension, which began on Friday, 1 August 2025, is intended to allow for an uninterrupted investigation. The suspension follows the completion of a forensic report by PwC, which was commissioned in January 2025. According to Public Works and Infrastructure Minister Dean Macpherson, the report was made public on 29 July. It recommended disciplinary action against Ms Malaka, citing…
Author: Staff Writer
The Johannesburg Stock Exchange (JSE) has delivered an impressive profit performance for the first half of 2025, fuelled by strong equity market activity and a surge in mining shares. As South Africa’s largest stock exchange, the JSE recorded an 11.8% rise in revenue to R1.65 billion, while net profit climbed 13.2% to R557.8 million. This growth was largely powered by robust results from its core business areas – Capital Markets, Post-Trade, and Information Services – all posting healthy revenue gains. Together, they underpinned the exchange’s expanding and diversified earnings base. Although newer business units are still finding their feet, the…
One of South Africa’s most high-profile corporate leaders, Phuthi Mahanyele-Dabengwa, has sold over R239 million worth of Naspers shares in a single day. The transaction took place on 30 July, with 42,305 shares disposed of at a weighted average price of R5,663.84 per share. Naspers said the sale was to cover tax liabilities and related expenses. These share options relate to incentive schemes awarded between 2020 and 2023. The gains across these tranches amount to roughly R150 million, with a calculated tax bill of about R43 million based on capital gains tax estimates. While she sold the bulk, Mahanyele-Dabengwa still…
Shoprite Holdings, a major retailer, expects its annual earnings to increase by more than 20%, largely due to strong performance from its core South African supermarkets. The company’s omnichannel growth strategy, which blends online and in-store shopping, has been a key factor in this success. The retailer forecasts headline earnings per share (HEPS) for the 52 weeks ending 9 June to rise between 15.2% and 25.2%, reaching 1,372.0p to 1,491.2p. For continuing operations, HEPS is expected to grow by 9.4% to 19.4% compared to the previous year. Total group sales from continuing operations are projected to increase by 9% to…
Apple has officially hit a jaw-dropping milestone – the tech giant has now sold over 3 billion iPhones since launching the iconic device in 2007. According to Apple CEO Tim Cook, the figure was revealed during the company’s Q3 earnings call. It took nine years to sell the first billion iPhones, a feat reached back in 2016. Now, nine years later, Apple has managed to double that, selling another 2 billion units in the same amount of time – proving that the iPhone’s popularity shows no sign of slowing down. But while Apple celebrates record-breaking iPhone sales, there’s been some turbulence on Wall Street.…
South Africa’s Railway Safety Regulator (RSR) has officially appointed Brian Monakali as its new CEO, bringing much-needed leadership stability to the country’s rail sector after more than two years without a permanent chief executive. The appointment, effective from 1 August and approved by Cabinet, comes at a crucial time as the RSR rolls out the new Railway Safety Act and works to transform rail regulation and operations across the country. Monakali is no stranger to the rail industry. With over 25 years of experience across mining, logistics, and heavy industry, he’s held key executive roles at organisations including Transnet Freight…
A devastating tragedy struck the Gondwana Private Game Reserve in the Western Cape when its CEO and co-owner, FC Conradie, was fatally trampled by an elephant during a routine morning on the property. The 39-year-old conservation leader, known for his deep commitment to wildlife and habitat protection, died on Tuesday, 22 July. According to police in KwaNonqaba, the fatal incident occurred at around 8am. Witnesses say the elephant suddenly charged while Conradie was nearby, leading to his untimely death. Emergency responders were called, but he was declared dead upon their arrival. The elephant involved in the attack has since been…
Jaguar Land Rover’s long-serving CEO Adrian Mardell is stepping down after more than 30 years with the company. Mardell, who took the top job in November 2022, has chosen to retire following what was described as a transformative stint at the helm of the British luxury carmaker. His departure comes after a record-breaking period for JLR, which posted its highest profits in a decade, eliminated a substantial £5bn debt burden, and recorded its strongest operational performance in recent memory. Before becoming CEO, Mardell had served as the company’s CFO since 2019 and played a critical role in a major repositioning…
Puma has announced the appointment of Andreas Hubert as its new Chief Operating Officer (COO), with the role taking effect from 1 September 2025. The move marks a major reshuffle in the company’s leadership structure as it aligns key operational functions under a single executive. The 49-year-old industry veteran will oversee Global Sourcing Operations, Sustainability and Product Development, as well as IT and Logistics. By consolidating these areas under the COO, Puma aims to streamline decision-making and enhance cross-functional efficiency. Previously, these responsibilities were scattered across the CEO, CFO, and Chief Product Officer portfolios. Andreas brings nearly two decades of…
South Africa is edging closer to a potential removal from the Financial Action Task Force’s (FATF) greylist following a critical two-day assessment visit by the FATF Africa Joint Group this week. The inspection, which took place in Pretoria on Tuesday and Wednesday, marks the final step before the global financial watchdog decides in October 2025 whether to delist the country. Officials from government, financial institutions, and various non-bank financial sectors met with FATF representatives to discuss the progress South Africa has made in tackling money laundering and terrorist financing. National Treasury has confirmed that the delegation concluded their visit with…