Namdia, Namibia’s state-run diamond marketing company, has suspended its CEO, Alisa Amupolo, along with two other senior officials, following a massive diamond heist on January 18. The raid at Namdia’s headquarters in Windhoek resulted in the tragic death of security supervisor Francis Eiseb ¹ ²[3). The suspensions are part of an internal investigation to uncover the events surrounding the crime and improve future security measures. There’s speculation that the raid might have been an inside job, especially since security upgrades were reportedly ignored ¹. The Namdia board insists that the suspensions are a precautionary measure to protect the integrity of…
Author: Staff Writer
Anglo American Platinum has announced a massive dividend payout of R15.7 billion (approximately $856 million USD) to its shareholders. This brings the total dividend for 2024 to R71.75 per share. The company is preparing for a major change, as its parent company Anglo American plans to sell its controlling stake in Anglo American Platinum. This is part of a larger restructuring plan announced last year. Anglo American has already sold some of its shares in Anglo American Platinum to increase the company’s independence. The demerger is expected to be completed by June this year, with Anglo American reducing its stake…
Spotify founders Daniel Ek and Martin Lorentzon have made a huge profit by selling some of their shares in the company. They sold over 2.5 million shares last year, making around R15.7 billion. Ek, the CEO of Spotify, and Lorentzon still own around 16% of the company, which is worth around R343 billion. They have been selling some of their shares to invest in other businesses, including artificial intelligence and climate-focused startups. Spotify’s shares have increased in value by 239% since the start of last year, making it one of the best-performing tech companies. The company has been growing rapidly,…
Aliko Dangote, Africa’s richest man, is investing R6.2 billion to expand the Mugher cement plant in Ethiopia. The plant, which started operating in 2015, has faced challenges due to violence in the region. Despite this, Dangote has successfully repaid loans and made a profit. The expansion plan aims to double the plant’s annual capacity to 5 million tons. Dangote expects the project to be completed within 30 months. Additionally, he plans to establish a new cement grinding unit with a capacity of 3 million tons per annum. Dangote Industries will also invest in the Omo Kuraz sugar factory in collaboration…
Novare, the South African based multi-disciplinary asset manager and ReElement Technologies Corporation, a subsidiary of American Resources Corporation (NASDAQ:AREC) and a leading provider of rare earth minerals refining solutions, have announced $ 100 million (R1,8 billion) rare earth and critical battery elements refining facility in Africa. Development of the facility is expected to begin in the second half of 2025. This milestone agreement representsa pivotal step toward establishing Africa’s first critical and rare earth element refining facility, focused on producing high-purity elements essential for advanced technologies in both the commercial and defense sectors. The facility will useReElement’stechnology to produce high-purity lithium carbonate,…
The African School of Governance (ASG), a transformative institution dedicated to redefining leadership and governance across Africa, officially launched on January 14, 2025, in Kigali, Rwanda and opened recruitment for itsInaugural Cohort for 2025/2026. The landmark event marked a significant step in ASG’s mission to empower the next generation of African leaders and innovators in all sectors across the continent. The Grand Launch convened with distinguished leaders, policymakers, academics, and stakeholders from across Africa and beyond to celebrate the establishment of ASG as a pioneering school of governance, Co-Founded by H.E. Paul Kagame, President of Rwanda, and H.E. Hailemariam Desalegn, former Prime Minister of Ethiopia. H.E. Hailemariam Desalegn said, “The launch of the African School of Governance and the opening of recruitment for its inaugural cohort mark a defining moment in Africa’s commitment to leadership excellence. By cultivating a newgeneration of leaders and policy research innovators across all…
Sony Group Corporation (“Sony”) will exhibit at CES® 2025, taking place in Las Vegas, Nevada, from Tuesday, January 7 (PST), under the theme “Creative Entertainment Vision,” outlining the long-term vision for Sony’s aspirations over the next decade. Hiroki Totoki, President, COO, and CFO of Sony Group Corporation, took the stage at Sony’s press conference held on Monday, January 6. Alongside a diverse lineup of speakers, he introduced several foundational initiatives leading toward Sony’s “Creative Entertainment Vision,” including new solutions that promote creative freedom, such as a new vehicle processing system and the latest innovations for spatial content creation. Additionally, Sony…
Get ready to connect, collaborate, and catapult your business to new heights! Registration for Meetings Africa 2025, the continent’s most influential business events trade show, is now open. The event, which will run from 24 to 26 February 2025 at the Sandton Convention Centre in Johannesburg, will be the epicentre of African business events excellence, bringing together exhibitors, buyers, trade professionals, and future leaders from across the globe. Bjorn Hufkie, General Manager: MIC Sales at South Africa National Convention Bureau Officer, a business unit of South African Tourism, says the 19th edition of Meetings Africa will be more than just a trade…
The countdown has begun for one of the most anticipated events on the automotive calendar – the official introduction of MG to South Africa. The timing could not be more fitting. Just over one hundred years ago, MG pioneered the creation of the popular sports car, giving millions around the world an attainable slice of MG magic. When Morris Garages was created by British motoring pioneer William Morris, it was his General Manager Cecil Kimber, who was working behind the scenes to produce faster cars with a sportier look. To do this, Kimber re-bodied and tuned up contemporary Morris car…
The Mediclinic Baby App, which supports expectant mothers through pregnancy and beyond, has won the Best Educational Solution at the 2024 FNB App of the Year Awards. In an environment where medical advice, both reliable and questionable, can be overwhelming, the Mediclinic Baby app has been designed to support new and expectant mothers, offering valuable tools such as pregnancy milestone tracking, mood journaling, an ovulation calculator and a tool for capturing cherished moments. By blending convenience with medically approved resources and expert advice, the app makes navigating the journey of motherhood simpler and more reassuring. “Winning the award for Best Educational…