Luke Fraser

Gauteng

Journalist at BusinessTech

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Articles

South Africa’s most popular pizza chain opening a new outlet every other week

3 weeks ago | businesstech.co.za | Luke Fraser

Debonairs Pizza was founded by two university students in the 1990s and is now one of the largest restaurant chains in the country. The restaurant chain’s history dates back to 1991 when Craig MacKenzie and Andrew Harvey opened the first Debonairs Pizza restaurant at Park Lane Spar in Pietermaritzburg. From the first day, the company offered free delivery, the first to do so in South Africa, with it done in style, wearing a tux and a bow tie.
Huge new shopping mall coming to South Africa in R5 billion government development

3 weeks ago | businesstech.co.za | Luke Fraser

Construction has started on the Leratong Mixed-Use Development in Gauteng, which will include thousands of housing units and a massive shopping centre. The new development was launched by Gauteng Premier Panyaza Lesufi, MEC for Human Settlement Tasneem Motara and Mogale City Mayor Lucky Sele. The new R5 billion public-private partnership forms a public-private partnership between Mogale City and Trendville Investments.
South Africa’s Shein and Temu competitor breaks even two years ahead of schedule

3 weeks ago | businesstech.co.za | Luke Fraser

The Foschini Group has set a record for annual results for the year ended March 2025, with the company’s online marketplace BASH now profitable ahead of schedule. TFG CEO Anthony Thunström said that the group’s improved operating leverage is a key driver of its standout results. “The positive result underscores our relentless focus on market share growth, margin improvement and cost management,” said Thunström. “Our Africa business led the charge with exceptional results in the second half.
Once-off boost for Multichoice

3 weeks ago | businesstech.co.za | Luke Fraser

MultiChoice expects to see positive earnings for the 2025 financial year, boosted by the sale of its insurance business to Sanlam. In a trading statement, the group said that the current period has seen unprecedented financial disruption for economies, corporates and consumers across sub-Saharan Africa. This is due to weaker exchange rates, elevated inflation and interest rates, and power supply issues.
Major South African retailer that added over 1,600 new stores in 4 years

3 weeks ago | businesstech.co.za | Luke Fraser

Mr Price has seen a rapid expansion in its store network since the start of the network, with the company benefiting from three major acquisitions over the period. Mr Price surpassed 3,000 stores during the year ended 29 March 2025, opening 184 stores across its 15 trading chains, expanding its total store footprint to 3,030 stores. The new stores highlight the rapid expansion of Mr Price stores since mid-2021, which were fuelled by strategic acquisitions and further investment in existing brands.
South Africa’s new driving laws and demerit system are not live

3 weeks ago | businesstech.co.za | Luke Fraser

Reports are circulating that the South African AARTO has become effective in South Africa, but the Road Traffic Infringement Agency (RTIA) says it is fake news. The Administrative Adjudication of Road Traffic Offences (AARTO) is set to introduce a new demerit system where motorists would pay a penalty and incur demerit points when a traffic infringement occurs. Motorists will begin with no points and accumulate demerits when necessary.
Fidelity offers private fire services as municipal options collapse

3 weeks ago | businesstech.co.za | Luke Fraser

The Fidelity Services Group is expanding its SecureFire service, marking yet another private sector expansion into a service that the state has failed to run efficiently. Fidelity SecureFire is a subscription-based private fire response network. It originally started as an initiative in Gauteng in September 2023, a week after a fire engulfed an illegally occupied government-owned building in Marshalltown, Johannesburg.
Historic South African company crawling out of business rescue

3 weeks ago | businesstech.co.za | Luke Fraser

Tongaat Hulett Limited is making progress with its Business Rescue plan, with the sugar giant appointing a new CEO to see it through the last mile of the process. Tongaat Hulett’s history dates back to 1892, when the Tongaat Sugar Company was founded in Hulett’s sugar business. Over the years, the company expanded into an international agricultural powerhouse.
One thing stopping the rand from reaching R16 to the dollar

3 weeks ago | businesstech.co.za | Luke Fraser

The rand should be valued at R16 to the dollar, but the currency’s fortunes won’t improve until the economy strengthens. The rand has fluctuated around the R18/$ mark recently, with the US Dollar’s weakness expected to continue in the near future. Investec Chief Economist Annabel Bishiop said that sentiment has improved recently, which has boosted riskier assets, while the USA also seems amenable to reducing its tariffs via negotiations.
Massive R4 billion loss for SPAR

3 weeks ago | businesstech.co.za | Luke Fraser

The SPAR Group has recorded a R4 billion loss in its interim results, as the group looks to sell its British and Swiss businesses. In the group’s results for the six months ended 28 March 2025, the group classified SPAR Switzerland and its British business AWG as discontinued operations. These businesses recorded aggregated post-tax losses of R4.4 billion, which included impairments of R4.2 billion.