Mineral Resources and Energy minister Gwede Mantashe will tender proposals to build new nuclear capacity in South Africa.

Value fashion and homeware retailer Mr Price announced on Wednesday that it is acquiring 70% of the owner of Studio 88 Group, which includes the SideStep, John Craig, Skipper Bar brands, for R3.3 billion.

Angola raised US$1.75 billion in overseas debt, becoming the second African nation after Nigeria to tap the Eurobond market since the start of the war in Ukraine.

South African Airways (SAA) still has about R1 billion in revenue from ticket sales stuck in Zimbabwe which it can't get as the southern African country continues to battle a liquidity crisis.

The ongoing Covid-19 outbreaks suggest that a hybrid way of working could become the norm, says Boston Consulting Group (BCG) and Spencer Stuart – an executive search and leadership consulting firm.

South Africa has seen a sharp decline in the number of new coronavirus cases since the Omicron-driven peak in December 2021, but analysts and the government are warning of a possible fifth wave of infections in the coming weeks.

MTN has retained the number one place on the ranking of the most valuable South African brands in the world, according to the latest Brand Finance report.

The leading telecoms brand value has surged this year, returning to growth after a disappointing result in 2021. MTN’s value (up 34% to R59.8 billion) has extended its lead over second-ranked Vodacom (up 5% to R29.9 billion) meaning that MTN’s brand value is now worth almost exactly double Vodacom’s brand value.

While the introduction of new regulations in have slowed growth in Nigeria, the number of MTN subscribers across the African continent increased by 2.9 million this year, to over 272 million subscribers globally.

The full ranking for 2022 is as follows:

  1. MTN – R59.8 billion
  2. Vodacom – R29.9 billion
  3. Standard Bank – R23.4 billion
  4. FNB – R23.4 billion
  5. Absa – R21.3 billion
  6. Multichoice – R17.5 billion
  7. Woolworths – R17.3 billion
  8. Shoprite – R15.7 billion
  9. Nedbank – R15.1 billion
  10. Mondi – R15 billion

The aggregate value of the top 50 South African brands grew by 15% this year, from R452 billion in 2021 to R519 billion in 2022. Similarly, the aggregate value of the top 100 South African brands grew by 17% this year, from R488 billion in 2021 to R570 billion in 2022.

This increase in brand values reflects significantly improved revenue forecasts in a future of lessened COVID-19 harm, and the likelihood of reduced civil unrest in key markets for South African brands.-bustech 

Absa Life, the first bank insurer to predict that the fifth wave of Covid-19 infections might be around the corner, says it nonetheless expects the trend of milder illness to continue.

Warren Buffett’s Berkshire Hathaway Inc. bought a stake in HP Inc. valued at more than US$4.2 billion. Shares of the laptop maker surged as much as 10%.

The South African department of communications and postal services is finalising plans to transition the Postbank into a full-service bank.

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