KENYAN STARTUP STRIKES GOLD Chpter, a Kenyan social commerce startup, has raised $1.2-million in funding to expand its AI-powered conversational commerce platform across Africa. The platform helps businesses sell more on social media platforms like WhatsApp and Instagram.

Shoprite opened 292 stores in the past 12 months, including 63 new format stores The retailer now operates a total of 3,639 stores in nine African countries - Mozambique - South Africa - Zimbabwe - Botswana - Eswatini - Namibia - Lesotho - Zambia - Angola

BOEING BUYS OFF STRIKE Boeing is offering its employees a 25% pay increase over four years to avoid a strike. The union representing the workers has endorsed the proposal, calling it the best contract ever negotiated. The deal includes improved benefits and gives workers more

BMW & TOYOTA PARTNERSHIP BMW and Toyota are teaming up to develop hydrogen-powered vehicles. They plan to release a range of cars with fuel cell systems, including BMW's first mass-produced hydrogen car in 2028. The companies will also work together to improve hydrogen

Rwanda has begun construction on Kigali Innovation City (KIC), a $300-million project aimed at becoming a leading African tech hub. Full story tinyurl.com/4kc3cj2z

ADANI'S AIRPORT PLANS GROUNDED A Kenyan court has stopped the government's plan to let Adani Airport Holdings operate the main airport in Nairobi for 30 years. The court is reviewing the deal, which critics say is unconstitutional and not good value for taxpayers. The

FIRSTRAND ACHIEVES 4% GROWTH FirstRand made more money this year, earning R37.9-billion, up 4% from last year. They had to set aside R3-billion for a UK problem but still did well. They also gave shareholders more dividends, up by 8%. Their businesses in South Africa and

SIBANYE TO CUT JOBS Sibanye-Stillwater reported a R7-billion loss for the first half of 2024, compared to a profit last year, due to falling platinum prices. They plan to reduce production at their Montana mines by 45% to save costs. This decision will cut 800 jobs. Despite

LESAKA PROFITS SOAR IN 2025 Lesaka Technologies, previously Net1 UEPS Technologies, reduced its losses by 48% to R326.1-million for the year ending in June. Revenue increased 11% to R10.6-billion. The company's consumer division showed impressive growth, with earnings rising

UIF COMMISSIONER SUSPENDED, AGAIN UIF Commissioner Teboho Maruping has been suspended due to his involvement in an irregular R5-billion job scheme with Thuja Capital. This is his second suspension, following a 2020 Covid-19 relief fund investigation. The R5-billion deal aimed

PWC HIT WITH R1.1BN FINE PwC was fined over R1.1-billion and banned in China for six months due to its failure to spot significant financial issues in Evergrande, China’s largest real estate firm, before its 2021 collapse. Chinese regulators criticised PwC for neglecting due

AFC FUNDS AFRICAN STARTUP BOOST Itana, a digital zone in Nigeria, has teamed up with Accelerate Africa to help new businesses grow. They offer tools and support for startups to expand across Africa. Itana provides easy business setup, tax benefits, and more. Africa Finance

SA’S STARLINK DELAYS CONTINUE Elon Musk’s Starlink is in talks with the South African government to launch its satellite internet service. President Cyril Ramaphosa discussed potential investments with Musk, urging him to invest in South Africa, where Starlink still needs

IT’S RAINING PROFITS African Rainbow Capital (ARC), led by Patrice Motsepe, has invested an additional R295-million in TymeBank and telecom company Rain. Rain, known for its affordable mobile services, reported R2.5-billion in earnings and saw a R598-million value gain.

FUEL PRICE CHAOS NATIONWIDE The Nigerian National Petroleum Company (NNPC) announced petrol prices will vary across the country, ranging from N950 (R37.40) in Lagos to N1,019 (R40.60) in Borno, due to logistics costs. Prices are no longer government-controlled but set through

CHAIR APPOINTMENT Muriel Dube has been appointed as the chairperson of Sasol Background ➡️Joined Sasol board in 2018 as an independent non-executive director. ➡️Holds an MSc from Oxford in environmental change and management, with extensive experience in sustainability and

OCEANA’S LUCKY RUN Oceana saw strong performance for the 11 months to August 25, driven by higher fish oil sales at its US-based Daybrook and consistent demand for Lucky Star. However, South African and Namibian horse mackerel businesses underperformed. Improved margins from

KENYA-GERMANY DEAL EXPLAINED Kenya and Germany signed a migration and mobility agreement, but confusion arose after reports claimed 250,000 Kenyans would benefit, a figure Germany denies. The deal promotes skilled worker mobility, education, and vocational training without

CEO ORDERED TO PAY R22M The Labour Court dismissed a claim by Joyce Mogale, ex-CEO of National Health Laboratory Service (NHLS), for unfair dismissal and instead ordered her to pay R22-million due to procurement irregularities. Mogale and the late CFO, Sikhumbuzo Zulu, were

R12 BILLION TENDER ON ICE APM Terminals is challenging a R12-billion contract awarded by Transnet to ICTSI, a Philippines-based company, for a 25-year Durban port project. APM argues Transnet's tender process was flawed and unconstitutional. Transnet counters that the deal is