Appearing as if ‘dipped in black,’ Range Rover today previews the Range Rover Sport SV Black, featuring exquisite and uncompromising attention to detail. Building on the Range Rover Sport SV’s reputation as the ultimate luxury performance SUV, this introduction – which will be available to order later in 2025 – celebrates the timeless appeal of an all-black aesthetic, building on a specification already hugely popular among Range Rover Sport clients. Distinctive black finishes, including for the first time, the Range Rover SV roundel and brand badges on the front grille, deliver a bold and defiant interpretation of stealth-like, sporting luxury.…
Author: Staff Writer
South Africa’s International Relations Minister Ronald Lamola has identified key obstacles blocking private investment in developing nations, with policy instability and weak institutions topping the list. Addressing the 4th International Conference on Financing for Development in Seville, Spain, Lamola explained how frequent regulatory changes and inconsistent frameworks create uncertainty that discourages long-term commitments from investors. The minister stressed that without stronger protections and predictable policies, growth potential remains limited. Lamola outlined multiple economic challenges, including inflation pressures, currency fluctuations and mounting debt, which reduce governments’ capacity to attract business investment. He proposed solutions such as improved fiscal management, expanded local…
With more than 2.7 million cars sold, the Volvo XC60 has surpassed the iconic Volvo 240 as the best-selling Volvo model ever. Since its debut in 2008, Volvo Cars’ mid-size SUV has remained a favourite among customers, appealing to a wide range of drivers who value safety, quality and a premium driving experience. Initially built exclusively in Europe, the XC60 later became the first global Volvo model to also be produced in China, supporting local sales. In 2018, it was named World Car of the Year. The current generation XC60 introduced plug-in hybrid drivetrains to a broader audience, and it…
Multichoice CEO Calvo Mawela has secured a $2 million (R35 million) pay package after steering the company from a R4 billion loss in 2024 to a R1.8 billion profit in 2025. The group’s financial recovery was largely driven by the R3.4 billion sale of its 60% stake in insurance arm NMSIS to Sanlam, contributing to a R5.2 billion pre-tax profit. Cost-cutting measures, including R3.7 billion in savings—surpassing the R2 billion target—and a stronger rand further bolstered the bottom line. However, revenue fell 9% to R50 billion amid economic pressures across Africa. Despite the profit surge, Mawela’s total remuneration dropped from…
The National Treasury and SARS have begun publishing monthly reports on tax debt collection, marking a significant step toward financial transparency. This initiative, announced in Monday’s statement, provides detailed breakdowns of outstanding tax debts owed to SARS (receivables) and refunds due to taxpayers (payables). The move follows Finance Minister Enoch Godongwana’s May budget speech commitment to strengthen revenue collection through improved monitoring and public accountability. As part of this enhanced collection drive, SARS will receive R7.5 billion in additional funding over the medium term to ramp up debt recovery efforts. Treasury projects these measures will yield between R20 billion and…
South African Airways (SAA) has emerged from its troubled past to become a growing contributor to the country’s economy, according to Transport Minister Barbara Creecy. Presenting her department’s budget vote in Parliament, Creecy highlighted the airline’s remarkable turnaround from near-collapse during the state capture era to its current position of financial stability. The national carrier, which was placed under business rescue and temporarily grounded, has restored domestic, continental and international routes while achieving profitability for the first time since 2012. The minister revealed impressive economic projections for SAA, citing an Oxford Economics Africa study showing the airline contributed R9.1 billion…
The ferromanganese smelter at Cato Ridge Works in KwaZulu-Natal will cease operations by the end of August, resulting in job losses for 600 employees. Assmang, jointly owned by African Rainbow Minerals and Assore, confirmed the closure decision this week, citing unsustainable financial losses at the facility. Persistently low manganese prices combined with soaring operational costs have made the smelter unviable. Electricity prices have increased by 930% since 2008, creating insurmountable challenges for the operation. The 310 permanent staff and 290 contract workers affected will be retrenched as part of the wind-down process. Company representatives stated that even potential electricity tariff…
Standard Chartered announced today its Global Market Outlook for the second half of 2025, projecting a constructive but volatile environment for investors worldwide. The Bank sees significant implications for Middle East investors, driven by expectations of a softer US dollar, resilient global equity markets and improving prospects for emerging-market assets. The report highlights that global macro conditions remain mixed. In the United States, growth continues to be supported by resilient consumption and fiscal stimulus, though trade and policy uncertainty may temper momentum in the second half of the year. In Europe, fiscal easing increasingly offers support, but structural challenges persist…
South Africa’s sophisticated investors are increasingly turning from traditional listed markets to alternatives, supporting Westbrooke Alternative Asset Management’s new *WDO UK fund in partnership with Rand Merchant Bank (RMB). The fund now has £155m (R3.8 billion) of capital available for investment in hybrid capital transactions across the UK lower-middle market. The popularity of the offering reflects a broader trend among South African ultra-high net worth individuals and families who are seeking refuge from volatile public markets and looking offshore for uncorrelated investments in hard currency that deliver equity-like returns with lower risk. “The traditional 60/40 (equities and bonds) portfolio allocation is simply not…
JSE-listed ADvTECH, Africa’s leading private education provider, is pleased to announce the appointment of John Sikiotis to the role of Group Chief Operating Officer (GCOO), effective 1 August 2025. Sikiotis brings a wealth of experience in strategy, IT, business development and commercial leadership across a wide range of industries in multiple geographies including Africa, the Middle East and Asia. He is a qualified CA(SA) and holds the professional designation of Chartered Financial Analyst. He is also a member of SAICA. The new role of GCOO has been established to support ADvTECH’s dynamic growth and expanding operations locally and internationally. “John’s…