John James “Jim” Volkwyn will step down from MultiChoice’s board of directors effective Wednesday, adding to the series of recent exits among directors with consulting arrangements with the company. MultiChoice, Africa’s largest pay TV provider, has faced scrutiny from investors over governance issues linked to consulting relationships held by several current and former board members. As the group navigates a takeover bid from French broadcaster Canal+, it announced that Volkwyn chose not to stand for re-election at the annual general meeting (AGM) on August 28, leading to his retirement effective the same date. Volkwyn’s association with MultiChoice spans over 33…
Author: Staff Writer
Vodacom South Africa announced on Tuesday that the Constitutional Court will hear its application for leave to appeal in the protracted Please Call Me case. This legal battle, which has been ongoing for 16 years, involves a dispute with former employee Nkosana Makate, who is seeking a substantial payout. According to Vodacom, the Constitutional Court has issued a directive to consider its application for leave to appeal alongside the company’s appeal against the Supreme Court of Appeal (SCA) ruling. This latest development comes after Vodacom’s February filing for leave to appeal the SCA’s decision, which required the company to make…
Sanlam, a leading financial services group, has overcome the last regulatory challenge in its R6.5 billion acquisition of Assupol, as it aims to solidify its position in South Africa and expand further across the continent and into India. On Tuesday, the Competition Tribunal approved the merger with conditions, although specific details of these conditions have yet to be disclosed. This approval follows the Competition Commission’s recommendation two weeks prior, which advised the deal proceed with the stipulation of a three-year moratorium on retrenchments. Once finalized, Assupol will join Sanlam’s retail mass cluster but will continue to operate under its own…
Australian mining powerhouse BHP has announced its intention to continue expanding its copper production, despite the setback of its failed bid for Anglo American earlier this year. The Melbourne-based company, which withdrew its offer for Anglo in May following the Anglo board’s rejection of its third attempt in an all-share proposal, has indicated it will not resort to overpaying for acquisitions. Since the failed bid, Anglo American’s share price has risen by over 10%, while BHP’s has similarly declined. This raises questions about whether BHP might reconsider pursuing Anglo once the six-month “put up or shut up” period concludes later…
Artificial intelligence (AI) continues to dominate technology discussions in 2024. Many businesses are eager to harness its potential, but the key to realizing this ambition lies in having a robust data infrastructure. Tejas Mehta, the newly appointed Senior Vice President and General Manager for the Middle East and Africa at Qlik, a global leader in data integration, analytics, and AI, will address these challenges as the keynote speaker at Qlik’s upcoming ‘AI Reality Tour’ in Johannesburg, South Africa. Scheduled for September 17, 2024, the free event will be held at the Indaba Hotel and Conference Centre in Fourways from 08:00…
South African travellers are increasingly rejecting generic holiday packages in favor of tailored, niche travel experiences. Industry experts predict that by 2025, there will be a surge in demand for personalized adventures, solo travels, wellness retreats, culinary tours, and sustainable tourism. Chantal Gouws, General Manager at Flight Centre Independent (FCI), observes: “We’re seeing a marked increase in requests for specialised itineraries. From marine conservation expeditions along the Wild Coast to mindfulness retreats in the Drakensberg, travellers are looking for holidays that reflect their individual passions.” This trend extends beyond South Africa. Globally, the adventure tourism sector, valued at USD 366.7…
In a fiercely competitive market with tight financial constraints, launching a new SUV brand is a bold move. However, Nic Campbell, the newly appointed Vice President of Jetour South Africa, is confident that the brand is set to redefine excellence in the local automotive industry. With over 14 years in the automotive sector, Campbell brings extensive experience from working with international car brands and original equipment manufacturers in South Africa. His deep understanding of stakeholder needs and expectations, combined with insights from the South African market, has positioned him well for this new challenge. Campbell emphasizes the importance of finding…
In the dynamic world of business, South African women are not only breaking barriers but are also setting new standards for success. As we near the end of Women’s Month, we look at seven fierce females who broke the glass ceiling and the valuable advice they share with us. With their relentless determination, innovative thinking, and resilience, these trailblazing businesswomen have carved out spaces of influence and leadership. Their insights, drawn from years of experience, offer a roadmap for navigating challenges and seizing opportunities in the ever-evolving landscape of business. Innovate like a woman! Women are known to be empathetic,…
Achieving gender diversity remains a significant challenge in the Financial Services sector, despite notable improvements in female representation. While progress has been made, Board, CEO, and C-suite positions continue to be predominantly occupied by men. The industry’s commitment to gender diversity may stem from goals like meeting BEE targets, ethical considerations, or recognizing the positive impact of diversity on business performance. Nevertheless, the path to placing women in leadership roles is fraught with difficulties. Understanding the Challenges The obstacles to advancing women into leadership roles can be attributed to a complex interplay of factors. “Those Financial Services companies trying hard…
The BrandMapp survey, a survey of households that earn more than R10,000 per month, asks what concerns keep people awake at night, with 3 of the top 10 impacting STI directly, particularly in terms of claims. The number one concern for South Africans is crime, with Eskom / grid failure ranked sixth, and climate change ranked ninth. Housebreaking is the number one crime in SA, with StatsSA estimating 1.6 million incidences of housebreaking in 2023, representing 5.7% of all households in the country, increasing in the 2023 period by 10%. The rise in housebreaking, which was exacerbated by power cuts,…