Star 2024-12-18

The capital will accelerate expansion, enhance its technology Brazilian digital banking group, Nubank, a publicly-traded company on the New York Stock Exchange, has invested $150 million (R2.69 billion) in South African-born fintech, Tyme Group. Tyme Group, a global digital banking group head-quartered in Singapore and backed by South Africa Africa Rainbow Capital (ARC), operates two high-growth digital banks: TymeBank in South Africa and GoTyme Bank in the Philippines. The deal with Nubank was part of a successful $250m capital raise. The capital will accelerate Tyme Group’s expansion, enhance its technology platform and strengthen its position in key markets. Its ambition is to be a top three retail bank in South Africa within the next three years, and list on the stock exchange by 2028, said the lead shareholder in Tyme…

International Relations and Cooperation Minister, Ronald Lamola, will today lead a delegation of South African ministers in a bilateral engagement with Mozambique. The objective of this meeting, which will be held in Malelane, Mpumalanga province, is to discuss the challenges faced by the neighbouring country as the post-election turmoil in Mozambique continues to cause disruption. Mozambique has been experiencing widespread incidents of violence and disruption to economic activity since the disputed results of the October 9 general election. According to the department, the South African delegation will consist of key officials from various departments and agencies, including Defence, Home Affairs, Trade, Industry and Competition, Police, Transport, the Border Management Authority (BMA), and the South African Revenue Services (SARS). “The Mozambican delegation will be led by Minister Veronica Dhlovo, who will…

There are persistent risks to South Africa’s mining sector profitability from elevated electricity costs and possibly higher transport costs, as coal and chrome exporters switch to longer and more expensive routes due to the unrest in Mozambique that resulted in the closure of the border between the two countries for days. The Lebombo border post linking South Africa and Mozambique was closed this year due to civil unrest following disputed elections in the neighbouring country. The Minerals Council said yesterday that the closure of the border could lead to a spike in transport costs for South African miners, especially chrome and coal exporters. “Persistent electricity price pressures and rising transport costs may continue to strain mining profitability,” said the Minerals Council economist, Andre Lourens. “The recent closure of border posts…

The sale of one of the largest owners, operators and developers of masts and towers infrastructure in the South African market to a consortium in which Royal Bafokeng Holdings (RBH) has a stake in a R6.75 billion deal gives Telkom even more room to expand its mobile and fibre business. The State-owned telecoms company yesterday said it had received the go-ahead from the Independent Communications Authority of South Africa (Icsasa) to sell its masts and towers business, Swiftnet, to Actis and RBH. Telkom’s shares were flat on the news, but closed 1.7% lower to R34.87 per share yesterday. Actis is a global investor in sustainable infrastructure focused on the energy, infrastructure, and real estate sectors. RBH will have a minimum 30% stake. This was the last regulatory requirement after the…

The crypto market continues to evolve as institutional adoption and innovative financing mechanisms reshape its trajectory. Convertible bonds are emerging as a key tool for crypto companies to raise capital, offering growth opportunities without immediate equity dilution. Over $4 billion has been raised recently for Bitcoin mining and infrastructure expansion, signalling confidence in the sector’s long-term potential. Bitcoin itself is solidifying its role as a financial asset, often viewed more as a reserve asset than a transactional currency. Events like the launch of Bitcoin spot ETF options have heightened market dynamics, with implied volatility surging before stabilising. Companies like MicroStrategy and others with leveraged Bitcoin positions highlight the growing intersection between crypto and traditional finance, where the use of convertible bonds and other instruments enhances yield and attracts capital from…

South Africa has been hit hard by climate change. The projected tipping points, as modelled by scientists, are coming closer to reality – rapidly. The Wits Global Change Institute pegs three alarming tipping points – conditional on our business-as-usual responses to date. The first is a water crisis – the real possibility of a Gauteng Day Zero. This is a combination of many factors. Climate Change – both through altering the local weather patterns with higher temperatures and extreme weather events. This compounds already low maintenance levels of infrastructure, leaving us with a leaking bucket. If this is not bad enough, the administration is not billing and successfully collecting revenue, with this unaccounted-for-water reaching close to 50% in Johannesburg, with Tshwane and Ekurhuleni not far behind, leaving behind a budget…