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1 week ago | 
businesstech.co.za | Luke Fraser
SPAR is also progressing with the proposed sale of its businesses in the UK and Switzerland. As per its annual results presentation in November 2024, the group announced its intention to conduct a strategic review of its European operations following the disposal of its Polish business. The group is now exploring divestment options for SPAR Switzerland and AWG in South West England.
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1 week ago | 
businesstech.co.za | Luke Fraser
The latest report from the Auditor General shows that most of South Africa’s municipalities have poor financial management, with seven receiving the worst possible outcome for several years in a row. The AG’s 2023-24 report on local government audit outcomes showed that only 41 municipalities (16%) obtained clean audits. Although 59 municipalities were able to improve their audit outcomes from 2020-21, 40 have regressed.
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1 week ago | 
businesstech.co.za | Luke Fraser
The average nominal take-home pay in South Africa dropped for the second month in a row, with eyes now turning to the Reserve Bank’s interest rate decision this week for any hope of relief. The nominal average take-home pay declined to R17,495 in April 2025, down 2.0% from R17,846, said Shergeran Naidoo, BankservAfrica’s Head of Stakeholder Engagements.
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1 week ago | 
businesstech.co.za | Luke Fraser
After escaping the business rescue, AutoZone has already taken several steps to improve the business. AutoZone is a distributor of auto parts, spares and car accessories in South Africa, with over 150 retail stores and 1,400 employees. Despite its widespread network, the group was placed into business rescue proceedings in July 2024 as it could not pay off its debts when they became due. The company achieved rapid growth, leading to its takeover by a private equity firm in 2014.
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1 week ago | 
businesstech.co.za | Luke Fraser
Air France is returning its seasonal direct flight between Cape Town and Paris for the upcoming summer season. From 15 December 2025 to 12 January 2026, Air France will operate daily nonstop flights between Cape Town and Paris, just in time for South Africa’s summer season and Europe’s peak holiday period.
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1 week ago | 
businesstech.co.za | Luke Fraser
Tiger Brands, whose brands include Koo, Energade Jungle Oats, Ace, and many more, has given shareholders an extra R1.8 billion via a special dividend due to a large increase in earnings. In its interim results for the six months ending 31 March 2025, the group said its strong results reflected management’s ability to drive growth in a challenging consumer environment. Although early signs of economic recovery provided some relief, consumers remain under pressure and seek value.
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1 week ago | 
businesstech.co.za | Luke Fraser
Johann Rupert-controlled Reinet Investments is sitting on a massive pile of cash following the sale of its large stake in British American Tobacco (BAT). The company, which the Ruperts manage as general partners, is one of three investment funds controlled by the Rupert patriarch, who acts as the executive chairman. The family’s wealth was built on tobacco, with Rupert’s father, Anton Rupert, establishing a tobacco company, Voorbrand Tobacco Company, roughly 80 years ago.
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1 week ago | 
businesstech.co.za | Luke Fraser
Asset manager Coronation has seen a slight increase in earnings, but it warns that South Africa’s low economic growth will continue to strain savings and investments. In its interim results for the six months ended 31 March, the group said the period was marked by heightened uncertainty primarily due to trade tariffs and protectionism in the USA. In South Africa, global tensions were exacerbated by disagreements in the Government of National Unity (GNU) over the 2025 Budget.
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1 week ago | 
businesstech.co.za | Luke Fraser
Shopping malls in Gauteng and KwaZulu-Natal saw below-inflation rent growth at the start of 2025 despite the country’s already incredibly low inflation levels. This is according to the latest Clur Shopping Centre Index, which tracks the performance of 5.4 million sqm of space at over 130 shopping centres in South Africa and Namibia. The index showed that the community and smaller retail centres continued to lead in growth in Q1 2025, while larger malls lag.
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1 week ago | 
businesstech.co.za | Luke Fraser
South African mining giant Harmony Gold is looking to acquire Australia-based MAC Copper for over R18 billionMAC Copper has only one asset in the CSA Copper Mine, roughly 700 km from Sydney, New South Wales. “The acquisition of the CSA Copper Mine in Australia is significant as it introduces a high-quality, established underground producing copper asset to the Harmony portfolio,” said CEO Beyers Nel.
