Grindrod has announced that its CEO, Xolani Mbambo, will step down at the close of 2025. Mbambo, who took the reins in January 2023, has been part of the freight and logistics group since 2013, previously serving as CEO of Grindrod Freight Services. His earlier career includes a stint at Anglo American. During his tenure, Mbambo led several key strategic moves, including the disposal of non-core assets and the extension of critical terminal concessions at Mozambique’s Ports of Maputo and Matola. He also spearheaded Grindrod’s entry into quayside container handling at Richards Bay port under a 25-year concession. Despite these…
Author: Staff Writer
The Municipal Employees Pension Fund (MEPF) welcomes a court order interdicting Mr. Phumudzo Ndou and Ndou Attorneys from making any defamatory and malicious accusations against the Fund and its administrator, the Akani Retirement Fund Administrators (Akani). This landmark decision was handed down by Judge AJ Raubenheimer of the High Court of South Africa (Gauteng Local Division, Johannesburg) on 11 June 2025, in an urgent application launched by the MEPF and Akani to stop Ndou from making sponsored and unsubstantiated allegations against the Fund and Akani. The Court ruled that the statements and allegations made by Mr. Ndou and his associates…
With major business events like Africa Tech Week in June and the upcoming G20 Summit in November, South Africa is set to welcome a surge in corporate travel. But with airfares climbing and budgets under pressure, many companies are asking how they can still send their teams out without burning through cash. The good news is that smart travel planning means you can do more, spend less and avoid compromising on comfort, safety or professionalism. Here’s how your business can travel better, and spend smarter. Cost-effective business travel isn’t about cutting corners but about making smarter choices. It also helps…
With thousands of female-owned businesses in South Africa struggling to scale due to lack of access to funding, networks, and mentorship, the Woman of Stature Foundation is stepping in with impact. On Thursday, 3 July 2025, the Foundation will host the Professional Collective Summit 2025, an event designed to inspire and equip professional women with the tools they need to thrive and scale their businesses. “With less than 20% of SMEs in SA being female-owned and the failure rate still alarmingly high, initiatives like this are critical to shifting the national economic narrative, says Charlotte du Plessis, CEO and Founder…
In a rapidly changing world where technology, sustainability and innovation are reshaping the job market, preparing our children for the future requires more than just academic success: it calls for intentional guidance and purpose-driven choices. Parents and guardians have a critical role to play in helping children align their study paths with both their passions and the realities of tomorrow’s workplace. Sphiwe Masuku, Head of Brand and Marketing at Fundi, argues that to “future-proof” your child’s education, you need to point them towards skills and vocations that are evolving – not disappearing – and help them to match their strengths and interests…
WhatsApp is finally introducing ads, but with a key limitation—they’ll only appear on the Status section, its version of Instagram Stories. The move, confirmed by Meta, means users will encounter ads after viewing a few Status updates, similar to how ads appear between Stories on Instagram. The company insists it won’t use personal data like messages or call logs for targeting, instead relying on broader signals such as location, language, and followed Channels. Alongside ads, WhatsApp is rolling out monetization options for creators and businesses. Channels, the app’s broadcast feature, will now allow select accounts to offer paid subscriptions for exclusive content, with payments processed…
Vukile Property Fund (JSE: VKE), the leading specialist retail REIT, reported a standout set of results for the financial year ended 31 March 2025, reflecting a transformative year of dealmaking, ongoing operational excellence, and decisive and disciplined capital deployment. Delivering on its market guidance, Vukile achieved 3% growth in full-year funds from operations (FFO) per share and increased its dividend per share (DPS) by 6%. Vukile announced upgraded FY26 guidance, forecasting growth of at least 8% in both FFO per share and DPS. Laurence Rapp, CEO of Vukile Property Fund, comments, “We are pleased to report strong results in a transformative…
The Pretoria High Court has ruled that the Reserve Bank’s Prudential Authority (PA) acted unlawfully by interfering in Absa’s 2021 chairperson nomination process. The judgment found the PA exceeded its powers by informally objecting to Sipho Pityana’s potential appointment over unproven sexual harassment allegations from his tenure at AngloGold Ashanti. While Absa ultimately withdrew Pityana’s nomination citing reputational risks, the court declared the PA’s backchannel communications with the bank—including then-CEO Kuben Naidoo’s direct warnings to Absa directors—violated procedural safeguards under the Banks Act. The case revealed systemic flaws in executive vetting, where regulators bypassed formal processes to influence corporate decisions.…
The Financial Action Task Force (FATF) has confirmed that South Africa has substantially completed all 22 recommended action items outlined in the Action Plan adopted when the country was placed on the organisation’s grey list in February 2023. South Africa was placed on the FATF grey list due to deficiencies in its anti-money laundering and counter-terrorism financing (AML/CFT) regime. During its plenary session held in Strasbourg, France, the FATF made the initial determination that South Africa has substantially completed its action plan and warrants an on-site assessment. The on-site assessment will be to verify that the implementation of AML/CFT reforms…
A KAP executive director has sparked controversy after selling R6.5 million worth of shares just days before the company issued a profit warning. Gerhard Victor, CEO of KAP’s PG Bison division, offloaded 2.6 million shares at over R2.50 each on 6 June. Three days later, KAP announced its full-year earnings would drop by more than 30%, sending shares plummeting 20%. The company insists the sale was part of Victor’s retirement planning and unrelated to the trading update, but the timing has raised eyebrows among investors and regulators. KAP claims Victor, as a divisional CEO, had no prior knowledge of the…