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Pepkor is betting R21 billion on banking South Africa's cash economy
The retailer behind Pep and Ackermans is merging Flash and Shop2Shop into a payments business aimed at the country's R1 trillion informal market.
Companies
The deals, results, leadership and strategy of the companies shaping South Africa.
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South Africa's weight-loss jab market is about to get a lot more crowded
The country's medicine regulator is weighing a dozen generic copies of the drug behind Ozempic and Wegovy, and cheaper prices should follow.
South Africa's state bank is hunting an investor for a private-island resort
The Industrial Development Corporation has spent about R430m on a five-star Mozambican getaway, and now it wants a partner to help finish it.
Everyone Is Talking About the De Beers Sale Except Anglo
A Botswana cabinet minister told parliament that Anglo American has picked a buyer for De Beers, Namibia's mines minister says that is incorrect, and Anglo itself is saying nothing at all.
Editor’s pick
The Fibre Deal That Cost Pensioners R100 Million
South Africa's state pension manager paid half of a R200 million commitment to a small lender financing fibre subcontractors, stopped the rest when red flags appeared, and laid criminal charges; the first R100 million has not come back.
The R700 million sieve behind Sasol's best year in five
Sasol spent R700 million taking the rocks out of its own coal, and Secunda promptly turned in its highest annual output in five years.
Samsung Watched Apple Hand Out a Credit Card for Seven Years. Now It Has One.
Samsung's first US credit card, issued by Barclays and running on Visa, pays 5% back on Samsung purchases and lands inside Samsung Wallet on the same day as its next big phone launch.
Editor’s pick
Aspen Won The Right To Sell An Ozempic Copy It Cannot Yet Make
Health Canada has approved Aspen's copy of Ozempic, but the supplier of its key ingredient has halted production until at least late October, leaving the company with a licence and no launch date.
Editor’s pick
Down To One Saltzman
Saul Saltzman has resigned from the Dis-Chem board after a 25-year career at the company, leaving his father Ivan as the only member of the founding family still holding a seat.
BP is selling off some of the startup bets it spent 20 years making
The oil major is offloading most of its venture portfolio to Nordic investor Verdane, a quiet unwinding of its energy-transition experiment.
African Bank's buying spree has caught up with it as job cuts announced
The lender wants to cut up to 1,200 jobs and close 90 branches after acquisitions left its costs running ahead of its income.
Big story
Cartrack’s subscriber growth sped up when many expected it to slow down
A record 142,472 new subscribers in three months pushed owner Karooooo to record profit — even as a stronger rand worked against it.