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DINEO FAKU dineo.faku@inl.co.za ANGLO American plc’s chief executive of almost a decade, Mark Cutifani, has been lauded for his leadership in the South African mining industry and beyond after the 104-year-old company announced that he would be stepping down. Anglo American said yesterday that South African Duncan Wanblad, 54, would be its new chief executive, signalling a new chapter for the globally diversified mining company with South African roots. “There has been no greater privilege for me than leading Anglo American and our incredible people. Together, we have transformed our competitive position and led the way towards a very different future for mining – a safer, smarter future that delivers enduring value for all our stakeholders,” Cutifani said. Cutifani, an Australian businessman, who took the helm nine years ago, placed…
Edward West edward.west@inl.co.za RENERGEN, the domestic producer of gas and helium, saw its share price soar for a second consecutive day yesterday, after it announced a 600 percent increase in its methane and helium reserves at its flagship Virginia Gas Project. The independently confirmed reserves will give the project, the only onshore gas project of its kind in South Africa, the capacity to supply a constrained global helium market and to supply methane to the local renewable energy markets. Helium is used in the medical sector, space travel and superconductors, and in the manufacture of microchips, fibre-optic cables and other electronic equipment, among a variety of other uses. The share price increased by 15.5 percent to R40.71 yesterday morning after Renergen announced the increased reserves. On Tuesday the…
Dineo Faku dineo.faku@inl.co.za DIS-CHEM, the JSE-listed beauty and pharmaceutical retailer, recorded market share gains across its core categories during the half-year ended August, underscoring growth trajectory. Dis-Chem, which opened its 200th store last month, yesterday posted market share gains in dispensary, health care and nutrition, personal and beauty care, as well as baby care segments. “Despite a tough economic environment with the pandemic and deepening economic recession, the group has achieved positive results, continued to take market share in all categories and delivered strong cash generation,” chief executive Ivan Saltzman said. During the 12 months ended August 2021, 18 Dis-Chem and three Baby City stores were opened, resulting in 199 Dis-Chem and 35 Baby City stores at the end of August 2021. “These stores together with the Baby City stores…
Edward West edward.west@inl.co.za QUILTER, the UK-based investment and wealth management group, said yesterday that it would return £350 million (R7.36 billion) to shareholders and retain £90m for investment from the proceeds of the sale of Quilter International. With the sale of Quilter International, the reshaping of the group’s perimeter was complete, and they were “able to pivot to a strategy which embraces growth and efficiency,” chief exeutive Paul Feeney said in a statement yesterday. He said the £90m would help fund the group’s simplification programme and to invest in longer-term revenue growth initiatives, including the building of a hybrid advice distribution channel and further digitalisation. The £350m proposed return to shareholders was expected to comprise an estimated £25m contribution to the full year dividend from a pro rata…
Akinwumi A Adesina FOR COP26 to be a breakthrough moment we must translate climate adaptation ambition into concrete action. The science is clear: Africa is not ready for anticipated future climate impacts. This week the African Development Bank Group and the Global Center on Adaptation, in partnership with the African Union, co-hosted an event that brought together African and G20 leaders with heads of international organisations. Our focus was the critical challenge of adaptation in Africa, a continent that has contributed the least to carbon emissions and climate change, but is the most vulnerable. Perennial and unusual weather patterns including floods, cyclones, droughts, desertification, soil degra- dation, and locust infestations pummel vast areas of the continent. For millions of Africans, life is simply unbearable. The effects of climate change…
Dineo Faku dineo.faku@inl.co.za KAELO Holdings, the private healthcare provider, said this week that it hopes its partnership with Dis-Chem will make it easier to reach the 12 million employed South Africans, and their dependants, who don’t have medical aid cover. Dis-Chem acquired a 25 percent stake in Kaelo for R195 million and the transaction received the green light from the Competition Commission in October, paving the way for the unique partnership to become effective this month. Kaelo’s chief executive and one of its founders, John Jutzen, said the partnership with Dis-Chem was a boost to its footprint and would change the way in which its products were distributed by enabling customers to sign up at Dis-Chem pharmacies as opposed to only via payroll deductions. Kaelo, meaning “guardian” in…
