Patrice Motsepe’s African Rainbow Minerals (ARM) has secured a major financial hedge on its stake in Harmony Gold, signalling potential plans for future acquisitions. The deal involves ARM hedging 18 million Harmony shares—about 24% of its holding—through a structured “collar” agreement. This move boosts ARM’s liquidity while allowing it to retain upside potential if Harmony’s share price rises. ARM remains Harmony’s second-largest shareholder, keeping its strategic 12% stake intact. The transaction comes as gold prices soar, with Harmony’s stock surging nearly 70% this year. The collar agreement works in two parts: ARM buys a put option at R234.85 per share…
Author: Staff Writer
Karooooo CEO Zak Calisto has announced plans to sell R1.3 billion worth of shares in the company he founded. The transaction involves 1.5 million ordinary shares priced at $50 each, totalling $75 million. While this reduces his personal stake, Calisto will remain the largest shareholder with 58% ownership. The deal includes an option for underwriters to buy an additional 225,000 shares, which could slightly lower his holding to 57.27%. Despite the sale, Calisto’s control over the company remains secure due to a voting agreement with chief sales officer Juan Marais. The agreement ensures that even if Calisto’s ownership dips below…
MTN Zakhele Futhi (MTNZF), the telecom giant’s empowerment scheme, has successfully raised R3 billion through a strategic share placement that’s reshaping black economic participation in SA’s corporate sector. The special-purpose vehicle sold 23.77 million MTN shares – representing 1.26% of total shares – at R128 each through an accelerated bookbuild managed by Rand Merchant Bank and Morgan Stanley. This pricing represented a careful balance: a 2.8% discount to that day’s closing price but a 2.8% premium to the 30-day average, ensuring fair value for both sellers and institutional buyers. The transaction’s proceeds will first settle MTNZF’s outstanding preference share debt…
With many South African companies preparing for financial year-end in June, the spotlight is once again on financial reporting – a business function that, while often taken for granted, holds enormous sway over strategic decisions, stakeholder trust and regulatory compliance. Yet many finance teams are still struggling with outdated, manual systems that slow them down and increase the risk of error. “Late or inaccurate reporting isn’t just an admin issue. It’s actually a business risk,” says Alwyn Pretorius, General Manager at Infinitus Reporting Solutions. “When reports are delayed there’s a huge ripple effect through the business. For one thing, leadership…
The Construction Industry Development Board (cidb), in partnership with the Department of Public Works and Infrastructure (DPWI), is proud to announce the launch of the Nationwide Contractor Outreach and Development Programme. This transformative initiative kicks off in Pietermaritzburg, KwaZulu-Natal, on 13 June 2025, and is aimed at empowering emerging contractors across South Africa’s construction sector. The programme is designed to strengthen the capabilities of emerging contractors through workshops, interactive sessions, and expert-led discussions focused on enterprise readiness, access to funding and bridging the gap between training and real industry opportunities. Speaking ahead of the launch cidb CEO, Bongani Dladla, said: “Through…
South Africa’s advertising watchdog has ruled against MTN for deceptive marketing of its ‘Shesh@600’ data promotion. The Advertising Regulatory Board (ARB) found the campaign misled consumers by prominently advertising 600GB of monthly data for R399 without clearly stating that half required reliable 5G coverage. This comes after a customer complaint revealed the offer actually consisted of two separate 300GB bundles – one at full 5G speeds and another capped at 20Mbps. The regulator determined MTN violated advertising standards by creating unrealistic expectations, particularly since many areas lack stable 5G connectivity. While MTN pointed to fine print in its terms and…
SPAR South Africa is set for a major leadership shake-up as long-serving CEO Max Oliva steps down after three decades with the company. Oliva, who guided the retailer through pivotal moments including the COVID-19 pandemic and major digital transformations, will now take the helm at McDonald’s South Africa. His departure comes at a time of strong performance for SPAR, with the company well-positioned in the competitive retail sector. During his tenure, Oliva rose through the ranks to lead SPAR’s largest division, leaving behind a legacy of resilience and innovation. He successfully implemented transformative technologies like SAP while maintaining the company’s…
Telkom has announced the appointment of Beauty Apleni as the new CEO of Openserve, its wholesale fibre and infrastructure division, effective 1 July 2025. Apleni, a seasoned Telkom executive with over 25 years of experience in the ICT sector, will take over from acting CEO Selby Khuzwayo, who stepped in after Althon Beukes’ departure in December 2024. Her promotion comes as Openserve reports steady growth, with fibre revenue up 5.9% and a market-leading 50.4% connectivity rate. Apleni’s extensive background within Telkom includes key roles in consumer sales, technology, and strategy, most recently serving as Chief of Staff for Group Strategy…
Telkom has announced its first dividend payment in four years, marking a significant turnaround for the telecommunications giant. Shareholders will receive a total payout of R1.3 billion, comprising an ordinary dividend of 163 cents per share and a special dividend of 98 cents. The company’s share price jumped over 7% following the news, reflecting investor confidence in its recovery. This milestone comes after years of financial strain, with Telkom’s latest results showing strong growth in mobile and fibre services driving its improved performance. Key financial metrics underscore Telkom’s resurgence. Adjusted headline earnings per share nearly doubled to 660.2 cents, while…
Finance Minister Enoch Godongwana’s latest budget speech made a headline announcement that should prompt immediate attention from all of us as taxpayers: SARS has been allocated R4 billion to fund an aggressive debt collection strategy. This will see over 1 000 dedicated debt collectors being hired by the organisation as it simultaneously ramps up its use of data analytics and AI to pursue outstanding tax debt. The goal? Recover an estimated R50 billion in unpaid taxes annually. This latest news from SARS is not a subtle shift. It marks a new chapter in SARS’ approach to enforcement: one that brings…