Bonitas Medical Fund has announced its strongest financial results to date, reporting a solid increase in membership, exceptional investment returns and a further strengthening of its reserves. For the year ended 31 December 2024, Bonitas has grown its membership to 731 576 beneficiaries, securing its place as the second-largest open medical scheme in South Africa. It also delivered a 13.4% return on investment of members’ contributions, which is nearly double the 7.7% achieved the previous year and well above the strategic target of CPI plus 3,5%. With reserves at R9 billion, solvency of 38,6%, hospital tariff savings of R532 million,…
Author: Staff Writer
The Private Infrastructure Development Group (PIDG) today announced the launch of the PIDG Sustainability and Impact Report 2024, highlighting that since 2002, PIDG-supported projects have mobilised a total of USD 47.2 billion, including USD 29.8 billion from the private sector. In 2024, PIDG secured a total of USD 5.5 billion in investment across 25 projects, with USD 4.1 billion invested by the private sector. PIDG mobilisation figures were announced on the sidelines of London Climate Action Week, where the Group plays a key role in bringing the financial industry together to accelerate climate action and sustainable development. The PIDG Sustainability and Impact…
Built to inspire confidence on every road and in every moment, the Kia Sorento continues to set new benchmarks for large family SUVs. With cutting-edge design, advanced efficiency, and a flexible interior built for real life, the Sorento isn’t just leading Kia’s local SUV line-up—which includes the Sonet, Seltos, and iconic Sportage—it’s redefining what South Africans can expect from a premium family vehicle. Available as a seven-seater (with individually folding third-row seats), the new Sorento offers peace of mind to people with busy, fast-paced lifestyles. Paul Turnbull, CEO of Kia South Africa, comments: “The Sorento’s evolution over the past few…
Lesaka Technologies, the JSE- and Nasdaq-listed fintech group, saw its shares surge 7.4% to R75.20 after announcing a R1.1bn acquisition of digital bank Bank Zero. The deal, structured through a mix of new shares (valuing Bank Zero at R1bn) and R91m in cash, marks Lesaka’s strategic push to disrupt South Africa’s traditional banking sector. Bank Zero’s zero-fee, app-based model—boasting 40,000 funded accounts and R400m in deposits—will integrate with Lesaka’s fintech platform, enhancing its consumer and merchant services. The acquisition brings key leadership continuity, with Bank Zero’s chair Michael Jordaan joining Lesaka’s board and CEO Yatin Narsai retaining his role. Jordaan emphasised the “strong symmetry” between both…
Mercedes-Benz South Africa has announced a significant leadership change, with Abey Kgotle set to become co-CEO alongside Claudius Steinhoff from 1 December 2025. Kgotle, currently the executive director of human resources and corporate affairs, will replace Andreas Brand, who is moving to a global role within Mercedes-Benz AG in Germany. With over two decades of experience across mining, manufacturing, and public sector roles, Kgotle brings a wealth of expertise to the position. His previous board roles at Daimler Trucks and Mercedes-Benz Financial Services, along with his current position as chair of the Automobile Manufacturers Employers’ Organisation, make him a strategic…
New data released by international ride-hailing platform, inDrive, shows that the country’s 50 top earning drivers on the platform are earning above-average monthly income. According to figures from the first half of 2025, the top 50 earning drivers on the platform each made an average of R27,120.35 per month, totalling R162,722.11 over the six-month period assessed. The data comes at a time when South Africa’s official unemployment rate increased to 32.9% in the first quarter of 2025, with many citizens turning to flexible gig work to make ends meet. The data also notes an increase in the number of trips completed by…
Small business development specialist, Edge Growth, hosted their first ever Investee Day on 4 June in Johannesburg. Invitations were extended to small businesses that have been part of the Edge Growth ecosystem and investment portfolio through various funding and mentorship platforms, with guests having the opportunity to gain valuable insights from industry experts on the essential strategies for scaling a business. Attendees were treated to a wealth of real-life business lessons and expert insights, designed to equip them for the next phase of their growth journey. In addition to the educational content, the event offered powerful networking opportunities, allowing business…
Standard Bank has demonstrated robust performance in the first five months of 2025, maintaining steady growth despite global economic uncertainties. The group reported a 10% increase in headline earnings in rand terms, with mid-teens growth on a constant currency basis. While currency fluctuations impacted results, this effect is expected to ease in the second half of the year. Return on equity remained within the target range of 17%-20%, reflecting the bank’s ability to navigate volatile market conditions, including shifting trade policies and geopolitical tensions. Operational momentum remained strong across both South African and African markets, driven by a well-diversified business…
The Advertising Regulatory Board (ARB) has sided with Premier FMCG in a packaging dispute, ruling that JCJ Sweets’ BOZZA toffees unlawfully mimic the iconic design of Premier’s CHAMPION toffees, a brand with a legacy stretching back to 1940 when it launched as Wilson’s CHAMPION under Nestlé. Despite a 2011 ownership change, CHAMPION’s red, black, white, and yellow oval-label design remains distinctive. Premier accused JCJ Sweets of deliberately copying CHAMPION’s packaging, citing BOZZA’s similar color scheme, typography, and yellow oval label with white edging. The term “Bozza,” meaning “boss” in South African slang, was argued to evoke CHAMPION’s branding, potentially misleading…
KwaZulu-Natal Finance MEC Francois Rodgers has unveiled the province’s new digital Supply Chain Management (SCM) system, which aims to reduce wasteful expenditure, fraud, corruption, and bias in government procurement processes. Speaking at the official launch in Pietermaritzburg on Tuesday, Rodgers announced that KwaZulu-Natal is the first province in South Africa to implement such system, which is set to be piloted during the management of the province’s R158 billion budget in the 2025/2026 financial year. Rodgers acknowledged that the province has experienced numerous challenges linked to manual procurement system, which he described as a major source of irregularities. “Generally, the root…