South Africa and China on Wednesday signed deals covering emissions technology, electricity transmission and distribution, and nuclear power on the sidelines of the Brics summit. The summit of the Brics group of emerging economies — comprising Brazil, Russia, India, China and South Africa — runs from Tuesday to Thursday in Johannesburg. Brics members are seeking to use the summit to forge the grouping into a counterweight to Western dominance of global institutions.
Author: Staff Writer
Absa, a prominent financial institution, has appointed Luisa Diogo, the former Prime Minister of Mozambique, as a non-executive member of its board. Absa welcomes the appointment of Luisa Diogo to its board, recognizing her exceptional leadership and extensive experience in finance and economics. With her valuable contributions to Absa Bank Mozambique and her distinguished career in public service, Diogo’s appointment reinforces Absa’s commitment to diverse and accomplished leadership.
Harmony Gold, a leading gold producer with operations in South Africa and Papua New Guinea, experienced a nearly 6% increase in its share price after announcing that its underground grade recoveries exceeded expectations and it achieved the upper end of its production guidance for the year ending in June. Harmony Gold’s strong performance, surpassing expectations and benefiting from favorable gold prices, has resulted in a significant boost to its share price. The company’s focus on safe and profitable production, alongside strategic growth initiatives, positions it for continued success in the gold mining industry.
The Isuzu mu-X 1.9-litre diesel, recently added to the range as the base version, surprises with its quiet cabin and impressive performance, defying expectations that a smaller engine would struggle with the larger bodywork. The Isuzu mu-X 1.9-litre diesel offers a compelling package, combining ample space, fuel efficiency, and a range of features to meet the needs of family-oriented customers. Its performance on both highways and city roads, along with its attractive pricing and comprehensive warranty, position it as a strong contender in the SUV segment.
DRDGold, a prominent gold producer, saw a significant increase in annual profit due to the higher gold price in rand, despite experiencing a decline in gold production and sales. DRDGold’s strong financial performance demonstrates its ability to capitalize on favorable gold prices, despite operational obstacles. The company remains focused on addressing licensing and regulatory challenges, improving turnaround times, and optimizing infrastructure to ensure sustained growth and profitability in the gold industry.
Business Rescue Practitioners (BRPs) reveal plans to sell 27 properties from Rebosis Property Fund for a total of R7 billion, as part of a business rescue initiative. Rebosis Property Fund’s sales of these properties mark a significant step in its business rescue efforts. The company seeks to restructure its debt and continue operating as a going concern, with the goal of achieving financial stability and long-term success in the real estate market.
Yota Baron’s achievements and dedication serve as an inspiration for women aspiring to excel in finance and other male-dominated fields. Her hope is for a future where women’s accomplishments are celebrated every day, and gender equality becomes the norm.
Mophatlane’s appointment to Mustek’s board of directors underscores the company’s commitment to strengthening its leadership team and leveraging Mophatlane’s expertise in expanding its operations and influence in the ICT sector.
Adcock Ingram, a pharmaceutical manufacturer, announced higher profits for the year ending June 2023, driven by strong demand for over-the-counter (OTC) and prescription medications despite a challenging economic environment.
Indian Prime Minister Narendra Modi expressed full support for the expansion of BRICS membership during the 15th BRICS Summit in Johannesburg.