Clicks to sell off its drug manufacturing unit
Clicks Group, a diversified retailer, has announced plans to sell its stake in Unicorn Pharmaceuticals, its manufacturing subsidiary. This decision follows a Constitutional Court ruling in March 2023 that barred Clicks from owning pharmacies while producing its own generic drugs. As a result, the Department of Health halted processing new pharmacy license applications until Clicks […]
Pepkor’s fintech business seeing surging growth
Pepkor, South Africa’s leading listed clothing retailer, is experiencing robust growth in its fintech division, which saw a 24.5% increase in the half-year ended 31 March 2024.In its interim results for the period, released on Tuesday, the company disclosed that its FinTech segment revenue has now reached R5.8 billion. This growth significantly contributed to Pepkor’s […]
Tiger Brands reports decline in first-half revenue
Tiger Brands has experienced a difficult six months, citing the shift in leadership, a tough market landscape, and consumer spending limitations as primary factors. On Monday, Tiger Brands announced an 11% rise in headline earnings per share (Heps) and a 9% increase in its interim dividend for the six months ending 31 March 2024. However, […]
Vodacom and Orange in talks to share network infrastructure
Vodacom is currently negotiating with France’s Orange SA to form a strategic alliance in Africa aimed at exploring infrastructure collaborations to reduce costs on the continent, according to sources with knowledge of the situation. The telecommunications giants are examining potential partnerships in shared markets such as Egypt and the Democratic Republic of Congo, and are […]
Capitec now boasts a client base equal to the combined total of Standard Bank, Absa, and Discovery Bank
Capitec Bank has achieved a remarkable milestone, now serving as many clients as the combined total of Standard Bank, Absa, and Discovery Bank. Additionally, Capitec’s revenue from transaction fees per customer has significantly increased compared to a decade ago. With 22 million active clients as of the end of February—an impressive 10% growth from the […]
Steers-owner, Famous Brands reports lower profits
Famous Brands, the owner of Steers, announced on Monday that for the year ending February 29, 2024, their full-year revenue grew by 8% to R8 billion, and cash from operations rose by 13%. However, the company experienced a 6% decrease in operating profit and a 5% drop in headline earnings per share (Heps). The decline […]
Checkers Sixty60 now goes beyond groceries
Shoprite Checkers announced on Friday the beta launch of an upgraded Sixty60 app, designed to allow customers to shop from a selection of over 10,000 Hyper products and arrange same-day deliveries within a 60-minute window. The beta phase, which involves real users testing the app in a live environment to identify any potential issues before […]
Balancing between savings and investments
Understanding the distinction between saving and investing is crucial for building a robust financial plan. Saving involves putting money aside in low-risk accounts for future use, while investing entails buying assets with the aim of generating higher returns over time. Each serves a unique purpose in achieving financial stability and growth. A balanced financial plan […]
MTN sweats over currency devaluation in Nigeria
MTN’s latest quarterly report paints a mixed picture, with challenges stemming from currency devaluation in key markets like Nigeria. Despite a 52.8% decline in revenue from Nigeria, largely due to currency weakness, MTN demonstrated resilience with a 11.1% growth in group service revenue in constant currency terms. The company invested R5.4 billion in its networks […]
Discovery Invest has given R20 billion back to investors since 2007
Discovery Invest has returned R20 billion to investors through its shared-value rewards program since its inception in 2007. The company recently announced new investment products, including the Secure Capital Annuity and a Bitcoin Fund, catering to local clients. The Secure Capital Annuity guarantees income for life and offers a unique thirteenth cheque each year, helping […]