Forbes.com released a list of Africa’s 20 most powerful business people yesterday (they do like a list over there at Forbes) and it wasn’t too hard to pick up a trend on the list of the continent’s commercial high flyers – no less than 12 of them are South African. Are we awesome, or what? We’ve got the full list, including our Mzansi business powerhouses, after the jump!
The Eastern Cape education crisis deepened yesterday as it was announced that Modidima Mannya had resigned as Eastern Cape education department head. Eastern Cape Premier, Noxolo Kiviet, made the announcement and said the agreement was “in the best interest” of education in the province.
Signs suggest that Facebook is looking to have its initial public offering launch on on May 17th, assuming that the Securities & Exchange commission rubber-stamps all of the social network’s paperwork – including documents concerning Facebook’s recent billion-dollar acquisition of Instagram. Facebook is set to be initially valued at around $100 billion.
But the miners he left jobless at Aurora mines will not get a cent from him. The embarrassment for the Zuma and Mandela family names continues as Zondwa Mandela’s assets are expected to be attached next. Mandela has been charged with fraud, too.
Capitec shares rose to close at a new high of R214,76 yesterday. The bank also recently announced a dividend of 300c per share, showing why it isn’t surprising that analysts have happily placed “buy” recommendations on the stock.
“People power has brought down governments in North Africa; it can surely stop this assault on our living standards.” Cosatu has shown it doesn’t mess around when it comes to voicing its opinion. But will the “mother of all protests” against e-tolls actually make any difference?
Further concerns over the potentially large number of jobs that could be lost as a result of government’s proposed booze advertising ban, have been aired. Government is still mulling over its draft bill – which has been labelled draconian – but either way, the health department is determined to clamp down on the industry.
It’s about monitoring and enforcing adherence to the “government brand”, Manyi says. The advertising of all government departments would likely be centralised in his office very soon. The predictable news emerged while Manyi was speaking at a community media indaba on Saturday.
A recent study by South African student magazine, Student Village and the Department of Marketing and Retail Management at UNISA has shed some light on the consumer habits of South Africa’s 850 000 university, technikon- and college-going students. The skinny on South Africa’s student spending, after the jump!
If you’re looking for a job, don’t even think seeking your fortune in Europe. Unemployment rates across the Eurozone – the countries which use the euro – continue to climb and in February were at their highest level since the introduction of the single currency in 1999. Spain has been worst hit, with the unemployment rate amongst its under-25 population rising to an alarming 50.5% in February.
Greg has done it. He is now earning more than he would have been earning if he hadn’t exposed the rotten core of ethical detachment at Goldman Sachs. There was a bidding war for the rights to publish Greg’s memoir, and a division of the Hachette Book Group, Grand Central, outbid Penguin to get them.
Greg Smith, the South African-born ex-Goldman Sachs executive who resigned this month, and went on to launch a scathing attack on Goldman’s culture in the New York Times, is seeking a deal to write a book about his experiences there.
After South African-born Greg Smith sent a scornful resignation op-ed to the New York Times last week, Goldman Sachs will now undertake a company-wide email review. They’ll be searching for terms like “muppet”, and other things that may help to reveal disgruntled employees.
This really is quite something. One might even say a “trend” is occurring. Following the publication of a whistleblowing letter by an ex-Goldman Sachs employee in the New York Times, a second honest banker has emerged. He works at JPMorgan Chase, and wrote his letter to the US Commodity Futures Trading Commission.
Goldman Sachs lost $2,2 billion of its market value yesterday after Greg Smith – a South African-born Goldman “big shot” in Europe – chose to resign and write an opinion piece letter about Goldman’s corporate culture to the New York Times.
In an effort to increase awareness around debit and credit card safety, Visa and First National Bank (FNB) have teamed up to highlight the importance of card security to better educate consumers and protect them against fraud. Through an annual campaign running this year from the 13 – 16 March 2012, the Visa FNB Card […]
The liquidators of Aurora Empowerment Systems, which is accused of asset-stripping bankrupt Pamodzi Gold, amongst other dubious activities, will lay charges of fraud this week against Nelson Mandela’s grandson, Zondwa. President Jacob Zuma’s nephew should probably also look forward to facing some music.
Every year at Budget Speech time, South Africans get concerned with how much we’ll have to cough up for petrol and beer in the year to come. These are worthy concerns, but there’s much more to the budget says Karin Muller, Head of Growth Market Solutions at Sanlam. For starters, tax changes affect how much […]
Microsoft has launched a fascinating attack on Google Apps. In this instalment, Microsoft uses the American television series, Moonlighting, which aired during the mid 1980’s, to give us the spoof: Googlighting. Microsoft asks: “What happens when the world’s largest ad sales business tries to sell productivity software on the side?” It’s Microsoft Office versus Google Apps.
Every responsible adult knows it is their responsibility to listen to the annual Budget Speech delivered by the minister of Finance at the Opening Of Parliament, and to understand the changes to national policy and ramifications of said speech. Despite this, Minsters of Finance the world over stick to an unspoken rule – make the […]
Today, Euro zone finance ministers will meet to decide whether Greece has done enough to warrant a huge bailout loan of €130 billion. Greece needs the loan in order to avoid bankruptcy midway through March, when a massive repayment on its governmental debt must be completed.
Cape Town’s new tallest building is set to start taking shape as construction group Murray and Roberts have been awarded the R1,6 billion contract to build the Portside Project. It’s set to stand at 130 metres tall, comprising of 32 floors, and will house 52 000 square metres of office space for 3 000 people.
South African Airways has asked the government, sorry, the taxpayer that doesn’t get a say, for a recapitalisation of about R6 billion to fund operational costs, growth strategy and a fleet renewal for the coming future. Why? Because it would post a loss this financial year if this doesn’t happen, and growth is important.
American and European regulators have approved Google’s purchase of handset maker Motorola Mobility. The deal is worth a reported $12,5 billion and Google is said to be pleased at acquiring 17 000 new patents, and a further 7 500 patent applications as part of the deal.
Three Indian politicians, among them a women’s affairs minister, resigned after two of them were caught watching what was thought to be porn on a mobile phone belonging to another minister during a session of state parliament on Tuesday. They’re also members of one of the more morally conservative parties.
Capetonians: it’s that time of the year again when the City of Cape Town closes many of its roads for the opening of Parliament. As part of the pompous affair and fashion extravaganza, President Jacob Zuma will also deliver his all-important State of the Nation Address.
In the December business quarter, Apple’s iPhone business generated $24,4 billion of revenue. Microsoft’s whole company, from Windows to Office to servers to Xbox, generated just $20,9 billion.
Preparation at the site designated for the Chapman’s Peak four-lane toll plaza and office complex began last week, with official construction beginning this week. Estimates put completion of the complex to happen around Easter next year.
Facebook, the world’s largest social-networking service, could file for its initial public offering as early as Wednesday this week. It’s a move that has been on the cards for some time, but the rumour pot is now starting to boil more consistently.
And guess who’s got a finger in that pie? None other than convicted fraudster, Tony Yengeni. Granted it probably won’t be a very big warship, if we can really even call it that, but it has the potential to cost even more than the four frigates we bought as part of the controversial 1999 R60 billion arms deal.