Sanlam has the green light to launch a bank next year, with a surprising partner behind it
Sanlam has regulatory approval to sell its clients transactional banking from early 2027, and the bank behind the counter belongs to somebody else.
Business Bagel News
Daily news from the Business Bagel desk — the markets, money and company stories shaping South Africa, reported fast and kept clear.
Apple's new iPhones cost $100 more, and so does almost every other new phone this year
The same hundred dollars landed on the iPhone, the Pixel and the Samsung fold this year, and South Africa has not been told what any of it costs in rands.
Big story
Petrol is heading for a record in October, and the answer on offer is a refinery in Durban
South Africa refines less of its own fuel every year, which is exactly how a war on the other side of the world reaches a pump in Gauteng.
The company behind Cartier has given Johann Rupert's son a deputy chairmanship, and split the job in two
Anton Rupert gets the committee that decides what the luxury houses make, and Bram Schot keeps governance.
The company that runs OR Tambo made a R1.2 billion profit and still could not get a clean audit
ACSA pays tax, turns a profit and takes no bailouts, and the Auditor-General has still flagged R400.3 million it should not have spent the way it did.
FNB's owner is paying out its biggest dividend ever in the same year its profit went backwards
FirstRand's earnings fell for the first time in six years, and the whole of the damage was done by a car-loan scandal in Britain.
Eskom has dropped the fines and moved the solar deadline, but it can still cut you off
Three of the four pressures on households with rooftop solar have been withdrawn, and the one Eskom kept is the one nobody has tested in court.
Libstar's headline earnings fell by nearly a third, and the part that grew was Greek yoghurt
Cheese and yoghurt carried the perishables side while the shelf-stable half fell over, and the market-share figure everyone quoted is not in any filing.
The V&A Waterfront earns nearly three times as much per square metre as everything else Growthpoint owns
One Cape Town precinct out of 453 properties, and it charges close to triple the rate of the rest of the portfolio.
Big story
Altron just switched on a national security system for Zambia's government, and has put no price on it
A Johannesburg-listed company built the layer that lets Zambia sign things online, and no value for the contract has been disclosed anywhere.
South Africa's cherry growers just got into China, and their whole crop would barely dent the demand
China buys more cherries than anyone. South Africa grows about a thousandth of the world's exports, and has just been let in.
Takealot has taken its own logo off its delivery boxes for the first time in fifteen years
For Heritage Month the boxes are arriving in twelve languages, with a live website behind every one of them.