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Tag: South Africa

MTN winds down BEE scheme, pay out modest returns to investors
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MTN winds down BEE scheme, pay out modest returns to investors

South Africa’s largest telecoms firm, MTN, will close its Black Economic Empowerment investment vehicle, Zakhele Futhi, on 28 July 2025, marking the end of a nine-year initiative aimed at broadening economic inclusion for Black South Africans. MTNZF shareholders will receive a total payout of $1.10 per share—the value of their initial investment—along with modest gains […]

Temu deepens African footprint with local warehouse launch
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Temu deepens African footprint with local warehouse launch

Chinese e-commerce giant Temu has opened a local warehouse in South Africa, marking its most aggressive move yet in the country since entering the market in early 2024. The new facility promises faster shipping for customers, with some orders now eligible for next-day delivery and others arriving within two days. However, Temu has yet to […]

Takealot revenue rises 15% amid rising Amazon competition
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Takealot revenue rises 15% amid rising Amazon competition

South Africa’s largest online retailer, Takealot Group, recorded a 15% rise in full-year revenue, reaching $872 million (in local currency terms) for the fiscal year ending March 31, according to its parent company, Naspers, on Monday. The growth was underpinned by strategic investments in logistics, improved customer offerings, and the company’s loyalty-based subscription service. However, […]

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S’Africa now Africa’s top fuel importer – Report

Nigeria is no longer Africa’s top importer of refined petroleum products, following increased output from the Dangote Petrochemical Refinery, a new report reveals. According to fresh data from energy consultancy CITAC, South Africa has now taken the lead as the continent’s largest fuel importer—marking a significant transformation in Africa’s downstream oil market. The Dangote Refinery, […]

Agribusiness

35,000 risk job loss in S’Africa over US citrus tariffs

The 31% tariffs imposed by President Donald Trump on South African citrus imports could have significant negative effects on the country’s citrus farms and employment. The tariff increase, part of a broader 10% baseline duty on all imports, could potentially threaten up to 35,000 jobs in the South African citrus industry, according to the farmers’ […]

Ramaphosa pledges to strengthen trade partnership with Nigeria
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S’Africa eases visa rules for Nigerian tourists, business travelers

South African President, Cyril Ramaphosa has announced a significant change in visa requirements for Nigerian tourists. He said that Nigerian travelers can now apply for South African visas without submitting their physical passports. This policy aims to simplify the application process and encourage more tourism and business travel between the two countries. Ramaphosa made this […]

South Africa to alter taxation laws for remote workers
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S’Africa unveils visa reforms to attract skilled workers

The South African Minister of Home Affairs, Leon Schreiber, announced significant changes to South Africa’s visa system on Wednesday. The introduction of a new Remote Work Visitor Visa and a Points-Based System for Work Visas aims to simplify entry processes for foreign workers and investors, according to Bloomberg. These reforms are designed to eliminate bureaucratic […]

US Embassy in Nigeria moves to new visa service provider
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Nigerians to get S’Africa visa in seven days – Consul-General

The Consul-General of South Africa to Nigeria, Prof. Bobby Moroe has announced that instead of the previous six-month processing time, Nigerians who seek to visit the south africa will now receive their visas in seven days. This was disclosed by the envoy to pressmen at the July Breakfast Meeting sponsored by South Africa Airways with […]

Ramaphosa pledges to strengthen trade partnership with Nigeria
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Ramaphosa pledges to strengthen trade partnership with Nigeria

South African President Cyril Ramaphosa has reaffirmed his commitment to maintaining a strategic partnership with Nigeria, following the announcement that South Africa has become Nigeria’s top trading partner in Africa for the first quarter of 2024, with trade exceeding N1 trillion, according to the Nigerian Bureau of Statistics. The South African government emphasized the importance […]

South Africa grants license to 75 crypto companies
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South Africa grants license to 75 crypto companies

South African Financial Sector Conduct Authority on Monday expanded its approval, granting an additional 16 licenses, bringing the total number of licensed crypto companies to 75. This decision followed the submission of 374 applications to the FSCA. In March, South Africa’s financial conduct regulator greenlit 59 operating licenses for cryptocurrency businesses without disclosing the recipients’ […]

S’Africa joins Nigeria, to recall toxic cough syrup
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S’Africa joins Nigeria, to recall toxic cough syrup

The South African Health Products Regulatory Authority has issued a recall for specific batches of Johnson & Johnson’s children’s cough syrup due to elevated levels of diethylene glycol, a harmful substance. The affected batches were distributed in South Africa, Eswatini, Rwanda, Kenya, Tanzania, and Nigeria, as stated in a release on Saturday. This recall follows […]

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