Top 5 Business News Za Stories You Need to Know Today
In today’s rapidly evolving business landscape, staying up-to-date with the latest news and trends is crucial. Given the dynamic nature of the industry, keeping track of everything that’s happening can sometimes be challenging. That said, we’ve curated a list of the top five business news Za stories that are worth knowing today.
1. MTN Group Limited reports increased earnings; eyes Ethiopian telecoms license
MTN Group Limited, the South African multinational mobile telecommunications company, recently reported an increase in earnings in the first half of the year. The company generated a half-year service revenue of $5.5 billion, up by 15.9% from 2020. MTN Group Limited is now looking to expand its operations further in Africa by acquiring a local telecoms license in Ethiopia.
2. Sibanye Stillwater acquires major stake in Australian gold miner
South African mining company, Sibanye Stillwater, acquired a 50.1% stake in Australia’s leading gold mining company, Salt Lake Mining Pty Ltd. As a result of the acquisition, Sibanye Stillwater is now the majority shareholder and operator of the Western Australian gold mine, delivering more than 60,000 ounces of gold each year.
3. Reunert sells its Nashua Mobile business to Huawei
Reunert, a diversified electronic group in South Africa, announced the sale of its Nashua Mobile business to Huawei, the Chinese telecoms giant. Nashua Mobile is considered a significant asset, and Huawei’s acquisition will enable the company to leverage its own network infrastructure in South Africa.
4. Adcorp Holdings faces legal challenges over its employee equity scheme
Adcorp Holdings, the JSE-listed workforce solutions company, has been accused of not paying employees their rightful share under the company’s employee equity scheme. Adcorp’s employee equity scheme allows staff to participate in the company’s shares, and a group of current and former employees have taken the company to court after allegations surfaced that they were not paid for their participation.
5. TymeBank raises additional funding to expand further
South Africa’s TymeBank recently raised an additional $109 million in funding from its existing investor, African Rainbow Capital. The digital bank plans to use the funds to expand further into the South African market and offer more innovative banking products.
In conclusion, these are some of the top business news Za stories you need to know today. Each story represents a different sector of the economy, showcasing the diversity of South Africa’s business landscape. From MTN’s expansion plans to TymeBank’s funding, these news stories exemplify the dynamism of the market. Keeping up-to-date with such developments can help businesses make informed decisions and stay ahead of the competition.
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