South Africa has 95 gigawatts of wind off its coast and no legal way to lease the seabed
A World Bank framework puts the resource at 95 gigawatts, and the first project still cannot be commissioned before 2035.
Business Bagel News
Daily news from the Business Bagel desk — the markets, money and company stories shaping South Africa, reported fast and kept clear.
Mining bosses have hired Rothschild to build South Africa a R6.7 billion motorsport complex north of Cape Town
Neal Froneman's consortium wants a grand prix on Swartland farmland, and Toby Venter already owns the circuit that held the last one.
Six of the ten things the Reserve Bank watches to read the economy went the wrong way in July
The Reserve Bank's forward-looking index fell 0.9% in July, its second monthly drop, with slower money supply growth and fewer building plans doing most of the damage.
The man who put the first bitcoin on an African listed balance sheet has resigned over R301 of shares
Warren Wheatley says three trades of 50 shares cost him a R5 million penalty and a twenty-year ban, and he is still fighting the finding.
Balwin built the beach lagoons in Joburg and Pretoria, and it has just left the stock exchange
Shareholders backed the R2.26 billion take-private with 98.48% of the vote, and the government pension fund is now the money behind the developer.
Pick n Pay has hired its next chief executive from Woolworths, and he only starts in February
Spencer Sonn takes the chief executive-designate title on 1 February 2027 and works alongside Sean Summers for fourteen months before the handover.
Editor’s pick
Google wants you to buy a new laptop for Gemini, and four of the five cost over $1,000
Pre-orders opened this week for Googlebook, an Android laptop built to make your phone and your computer behave like one machine.
Big story
Meta's Muse does not chat with you, but opens a browser and does the shopping itself
Meta's new agent app has been downloaded faster than ChatGPT was at the same age, on one firm's narrowed comparison, and nobody outside Meta yet knows whether people are using it.
South African diesel has climbed R9.32 a litre this year, and the next increase lands on 7 October
Wars involving Iran and Ukraine have taken refined fuel out of the global market, and the South African pump price is set off what the world charges for it.
Aveng turns over R26.4 billion a year, and the whole company is worth R545 million on the JSE
Fraser Wyllie becomes chief executive of the 137-year-old contractor on 1 October, the third person in the chair in nine months.
A South African bank has broken even on 100,000 customers, where rivals needed more than 2 million
Bank Zero made money for the first time in August, less than five years after it opened, on a banking platform it wrote itself for under R300 million.
Vumatel's owner cost Remgro R93 million last year, and this year it added R319 million
Vodacom's arrival inside Maziv turned Remgro's fibre arm from a drag into a contributor, and only four months of it are in the numbers.