The 2.8 GD engine, introduced to the LC70 line-up earlier this year is now available in both automatic and manual transmissions on Station Wagon and Single Cab body types. Mated to the Land Cruiser 70 Series’ 2.8-litre four-cylinder turbo-diesel engine, the new manual powertrain joins the existing six-speed automatic and is priced at R887 000 for the Single Cab, and R969 800 for the Station Wagon. Toyota added the new four-cylinder automatic powertrain to the Land Cruiser70 Series lineup in early 2024 as part of a wide-ranging upgrade for the popular four-wheel drive workhorse and has discontinued the previously available…
Author: Staff Writer
With an intentional approach in doing good business, Brenda Khumalo, Founder and Managing Director of Lobengula Advertising was awarded the Standard Bank Top Women Entrepreneur of the Year 2024 award. This recognition comes at a time when Khumalo has been intentional with her agency’s strategic growth marrying innovation and authentic storytelling for her clients in the advertising and marketing industry. Khumalo reflects that this award comes at a time where they as an agency have been celebrating their four year journey since inception. Giving her award acceptance speech Khumalo shares “It’s such a privilege to be presented with this award. I’m grateful for platforms like…
One of South Africa’s bestselling SUVs of all time is set to add a performance-orientated variant to its model line-up. Toyota South Africa Motors (TSAM) has announced that an all-new Fortuner GR-S model will be launched in the first quarter of 2025. Building up on the strong credentials that made Fortuner a household name, the new GR-S version will come with more power and style to complement its exceptional off-road capabilities and versatility. TSAM believes that the new offering will take the legendary Fortuner to new heights. Enhanced with sport-inspired features and aesthetics, an aggressive stance as well as performance-focused…
The Cabinet of South Africa has applauded the new approach to eliminating criminal activities on construction sites, with the introduction of the Durban Declaration at the inaugural National Construction Summit on Crime-Free Construction Site on 19 November 2024. The declaration outlines a powerful series of initiatives that will reshape South Africa’s construction industry. It is projected to drive significant improvements in the construction industry by reducing project delays and cost overruns caused by criminal interference, rebuilding investor confidence in South Africa’s infrastructure sector, creating thousands of jobs through uninterrupted project delivery and the expansion of local enterprises, and stimulating economic…
In South Africa, small to medium enterprises comprise an estimated 20% of gross domestic product and employ approximately 47% of the workforce. These businesses are the doorway to economic prosperity, employment, thriving communities and alleviating poverty. The current macro-economic climate in South Africa is challenging for SMEs. Interest rates, inflation, and unemployment levels continue to fluctuate, with global social and geopolitical uncertainty resulting in exchange rate volatility and slow economic growth rates. There remains an urgent requirement on the development sector to make sure that these SMEs are well prepared to access the kind of funds that they require to…
The Global Energy Alliance for People and Planet (GEAPP) and the Government of Malawi have officially launched the construction of a 20 MW battery energy storage system (BESS) at the Kanengo substation in Malawi’s capital city, Lilongwe. This is GEAPP’s first BESS project in Africa. GEAPP is providing up to $20 million in grant funding to the Electricity Supply Corporation of Malawi (ESCOM) to support the design, procurement, installation, and operation of the BESS site. The Government of Malawi and ESCOM are providing match funding. The planned commission date is in 2025. In Malawi, where as much as 74% of…
As Africa continues its digital transformation, the SIIPS Report 2024— launched in Accra in partnership with AfricaNenda, the World Bank, and the United Nations Economic Commission for Africa (UNECA)—highlights the extraordinary growth of Instant Payment Systems (IPS) across the continent and explores their impact on financial inclusion. With 31 live IPS in 26 countries and another 27 nations preparing to launch their own systems, the report paints a picture of a rapidly evolving financial ecosystem that holds immense promise for Africa’s underserved communities. In just five years, the volume and value of transactions processed through IPS in Africa have grown…
Anglo American Plc has agreed to sell its steelmaking coal business to Peabody Energy in a deal that could reach $3.78-billion (approximately R70-billion). This sale is part of Anglo’s plan to simplify and reduce its operations after rejecting a $49-billion takeover offer from BHP Group earlier this year. The sale will provide Anglo with $2.05-billion in cash upfront, plus $725-million in deferred payments, and potential bonuses based on coal prices and the rehabilitation of its Grosvenor mine. The coal business includes five mines in Queensland, which produced 16 million tons of coking coal in 2023. Anglo previously sold a $1.05-billion…
Barloworld Group reported a 7% drop in revenue to R41.9-billion for the year ending September 30, 2024. Earnings before interest, tax, depreciation, and amortization (EBITDA) also fell 7% to R5.1-billion, while operating profit decreased by 12.6% to R3.8 billion. Despite these declines, Barloworld declared a final dividend of 310 cents per share, totaling 520 cents for the year, a 4% increase from the previous year. The company noted provisions of R180-million related to its acquisition of Barloworld Mongolia and R482-million for inventory and restructuring costs in Russia. Barloworld reduced its debt by 29%, bringing it down to R7.9-billion. The company…
Netcare, a private healthcare provider, announced a 7.6% rise in adjusted earnings per share for the year ending December 30, 2024. The company reported total revenue of R25.2-billion, which is a 6.3% increase from the previous year. Netcare also declared a total dividend of 70 cents per share, up 7.7% from last year. During this period, Netcare bought back 60.4 million shares at an average price of R11.93 each, spending about R722-million. Overall, they have repurchased 84.8 million shares, which is 5.9% of their total shares, at an average price of R12.27. Looking ahead, Netcare is cautiously optimistic about improvements…