South Africa is confronting a serious challenge with the illicit alcohol trade, which has ballooned to an estimated R25.1 billion. This surge not only threatens public health but also results in a staggering R16.5 billion loss in tax revenue over the past year. The Drinks Federation of South Africa has raised concerns about the increase in illegal alcohol sales, now accounting for 18% of the total market—meaning nearly one in five drinks consumed is illicit. Industry leaders are calling for urgent action to combat this issue. Experts describe the illicit trade as a form of organised crime and advocate for…
Author: Staff Writer
Absa Bank’s handling of the recent leak of confidential information has drawn significant attention, particularly due to its connection to the early retirement of former CEO Arrie Rautenbach and the broader context of governance and transformation challenges at the bank. Background on the Leaks and Disciplinary Action In May 2025, Absa Bank commissioned an independent forensic investigation conducted by ENS Forensics, a reputable third-party firm, to probe allegations of serious misconduct involving the unauthorised disclosure of confidential company information. The investigation concluded with prima facie evidence of misconduct, specifically linked to leaks about former CEO Arrie Rautenbach’s abrupt early retirement,…
The South African automotive market is preparing for the arrival of iCaur, a new Chinese vehicle brand from the Chery Group, set to launch in the first quarter of 2026. This brand promises to offer distinctive models that stand out in a crowded marketplace. Originally known as iCar in China, the name has been altered to iCaur for global markets due to trademark issues. Established in 2023, iCaur aims to inject a playful and user-centric approach into the electric vehicle sector, as stated by the brand’s marketing manager for South Africa. While the full line-up of vehicles for the local…
The South African National Roads Agency (Sanral) has successfully secured a loan worth R7 billion from the New Development Bank (NDB). This funding is aimed at supporting a range of projects within the toll portfolio. Following the approval of a R16.5 billion borrowing limit in March 2024, which included a R7 billion guarantee for this loan, Sanral is poised to enhance key economic corridors, especially along the N2/N3 routes in KwaZulu-Natal and the N1. The loan will take effect once all standard conditions are fulfilled. Additionally, Sanral plans to utilise the unused portion of the borrowing limit to seek further…
Hong Kong’s privacy watchdog is investigating a data breach at Louis Vuitton that impacted around 419,000 customers. The leak exposed personal details such as names, passport information, addresses, email addresses, phone numbers, shopping habits, and product preferences. The issue came to light after Louis Vuitton’s French headquarters detected suspicious activity in its computer systems on 13 June 2025, with the breach affecting Hong Kong customers confirmed on 2 July. The company reported the incident to Hong Kong authorities on 17 July. The investigation will examine whether Louis Vuitton delayed notifying authorities about the breach. No complaints or inquiries have been…
Sibanye-Stillwater has strengthened its US operations with the $82 million acquisition of North Carolina-based Metallix Refining, a specialist in recycling precious metals from industrial waste. The deal provides the South African mining giant with additional processing capacity and proprietary technology, boosting its global recycling capabilities. CEO Neal Froneman highlighted the strategic value of the purchase, noting significant synergies with Sibanye’s existing recycling business. The move comes as Sibanye positions itself to benefit from US policies favouring domestic critical mineral production. With platinum and palladium classified as essential for America’s clean energy transition, the company’s US operations gain added protection from…
BP has named Albert Manifold, the former CEO of Irish building materials giant CRH, as its new chairman. The appointment of the energy outsider comes as the British oil major seeks to reset its strategy and restore investor confidence following years of underperformance. Manifold will officially succeed Helge Lund in October, stepping into the role at a time when BP is reducing its focus on renewables and fending off speculation around potential breakups or takeovers. During his 11-year tenure at CRH, Manifold oversaw a nearly fivefold rise in the company’s share price and a strategic shift that included moving its…
The Capital Hotels, Apartments and Resorts is continuing its strong growth streak with the expansion of its existing properties. This development forms part of The Capital Hotel Group’s broader national growth strategy, which includes the expansion of the Capital Trilogy property in Pretoria, Capital Pearls Shore in Durban, as well as the opening of an exciting new hotel in Gqeberha, making it the group’s first property in the Eastern Cape. A smart play in a surging sector: Tourism continues to be a vital engine for the South African economy, contributing 3.3% to national GDP in 2024, with foreign arrivals approaching 9 million. The…
Diageo, the global spirits conglomerate behind brands like Johnnie Walker and Guinness, has announced the immediate departure of CEO Debra Crew. The company stated the exit came through mutual agreement, though no specific reasons were provided for the sudden leadership change. Chief Financial Officer Nik Jhangiani will serve as interim CEO while the board searches for a permanent replacement. Crew’s departure marks the second abrupt CEO transition in two years for the London-based drinks giant. Crew took the helm in 2023 following the tragic death of predecessor Sir Ivan Menezes, having previously led Diageo’s North American operations. Her tenure saw…
In a landmark move to shake up the African bakkie market, Nissan is launching the return of its South African-manufactured Navara Stealth after a nearly six-year hiatus. The new model debuted to 120 motoring journalists, content creators, partners and employees during a three-day briefing in Magaliesberg from 08 to 10 July 2025. The Navara has long set the benchmark for everyday reliability, versatility, and capability in Africa. The new Stealth builds on this reputation with a sharper, more assertive presence tailored to drivers who expect more from their double-cab. The powerful Navara variant is built for drivers who need a…