Exxaro Resources has lost yet another senior executive, continuing a period of intense leadership disruption. The mining group announced the departure of its chief coal operations officer, Kgabi Masia, following what it described as a mutual and amicable separation. Masia had served less than three years in the role. His exit follows earlier reports that he had been placed on precautionary suspension during a work trip overseas due to allegations related to coal contract tampering. The company moved swiftly to assure stakeholders that operations will continue smoothly under the acting leadership of Mervin Govender. Meanwhile, Exxaro’s board, along with its…
Author: Staff Writer
Gold Fields has kicked off 2025 with an impressive first-quarter performance, buoyed by a surge in the global gold price and a sharp rebound from earlier weather-related disruptions. The company reported a 19% year-on-year increase in gold output, reaching 551,000 ounces for the three months ending March. This production boost came from stronger showings across several of its global sites, including mines in South Africa, Western Australia, and Peru. With operations back on track, the group is confident in meeting its annual gold production target of between 2.25 million and 2.45 million ounces. Financially, the miner is in a healthier…
Toyota South Africa Motors (TSAM) is excited to record a 24.4% industry market share in new vehicle sales for April, reflecting a 0.8% increase from March 2025 (23.6%). Toyota’s sales performance of 10 363 units correlates with naamsa’s views that despite the significant headwinds the automotive industry continues to face, the new vehicle market persisted in its quest of recovery. The latest stats from naamsa reported aggregated domestic sales of 42 401 units in April 2025 – a notable year-on-year increase of 11.9% from units sold in April 2024. A staggering 87.9% (37 258 units) represented dealer sales. According to…
Tensions are escalating between the KwaZulu-Natal (KZN) provincial government and Finance Minister Enoch Godongwana over how to repay over 220,000 Ithala Bank depositors. Ithala, a historic black-owned financial institution in the province, is under threat of liquidation due to alleged regulatory breaches. Customers have been locked out of their accounts since January, prompting urgent efforts to find a repayment solution. Minister Godongwana reportedly wrote to the Reserve Bank governor proposing a R2 billion government guarantee to cover depositor funds, with repayments facilitated by a private-sector financial institution. The catch? He allegedly never consulted the provincial leadership, despite hinting that the…
Vertiv, a global provider of critical digital infrastructure and continuity solutions, announced a strategic restructuring of its operations across Africa to enhance and expand its market presence and customer engagement. Under this new structure, the organisation streamlined its focus on Africa into four distinct regions, led by regional directors as follows: · Northwest Africa – Zineb Kamri, based in Casablanca, Morocco. · Northeast Africa – Ehab El Hefnawy, based in Cairo, Egypt. · Central-Southern Africa – Gary Chomse, based in Johannesburg, South Africa, with regular operations from Lagos, Nigeria. · Eastern Africa – Rohan Patil, based in Nairobi, Kenya. The regional directors report directly to Vertiv’s managing director for Africa, Wojtek Piorko,each with…
Mercedes-Benz South Africa (MBSA) proudly presents uLuntu Lwethu (“Our Community” in isiXhosa), a compelling docuseries that honours the people shaping the brand from within. Conventionally defined by its products and prestige, uLuntu Lwethu focuses on the human stories behind the brand and its contribution to society and transformation during its 67 years in the country. MBSA CEO and Executive Director: Manufacturing, Andreas Brand, commented: “The uLuntu Lwethu docuseries honours the individuals who daily strive to build the world’s most desirable cars. Through the portrayal of their stories, we wish to celebrate the many who contribute to one of South Africa’s most productive sectors of…
After initially reacting positively to Trump’s election, the US equity market began to shift dramatically in the first quarter of 2025. On April 2nd, Trump announced a series of tariffs that vividly brought to life the narratives he had championed during his campaign and early time in office. The US Economic Policy Uncertainty Index has soared to levels only previously seen during the COVID-19 outbreak in 2020, leaving investors, policymakers, and market leaders alike wondering what’s next? The negative market reactions to these tariffs, coupled with growing concerns over potential withdrawals of economic support, have significantly amplified the uncertainty. As…
Capitec Bank’s robust financial performance in 2025 has significantly rewarded its top executives, with outgoing CEO Gerrie Fourie earning over R104 million in total remuneration. This figure, among the highest on the Johannesburg Stock Exchange, includes R86 million in short- and long-term incentives. The bank’s share price surged by 52%, outstripping rival banks, while headline earnings grew by 30%. These achievements, driven by strategic initiatives, boosted the company’s market value and justified substantial executive payouts. The remuneration committee highlighted the effectiveness of the bank’s pay structure in fostering exceptional leadership and sustainable growth, emphasising its performance-driven approach. Beyond executive rewards,…
Heineken Beverages, the Dutch brewing giant’s South African arm, is grappling with persistent challenges as beer and cider sales volumes continue to decline. Formed in 2023 through a merger of Heineken’s South African operations, Distell, and Namibia Breweries, the company reported only modest organic revenue growth in the first quarter of 2025, driven by a low-single-digit percentage increase. However, overall volumes fell significantly, with beer and cider sales dropping sharply in South Africa due to an intensely competitive market. Meanwhile, Namibia showed resilience, with strong growth led by Windhoek Lager. The company also highlighted efforts to integrate its operations and…
The world’s leading consumer electronics brand, Sony is proud to announce its latest partnership with Open Window, a leading creative arts Institution in South Africa. Founded in 1993 as an art school, Open Window has since expanded into creative arts and technologies, offering courses in film, design, photography, animation, and game development. As the first institution in the country to train students with Sony’s Cine Alta next-generation Cameras the Burano, Open Window is offering its students a rare opportunity to gain hands-on experience with professional-grade tools. This initiative, further supported by Visual Impact—a leading provider of digital and high-definition broadcast…