Star 2025-01-17

PPC’s plans hailed as a show of confidence in the South African economy JSE-listed PPC’s plans to construct a new R3 billion state-of-the-art integrated cement plant in the Western Cape, in a show of confidence in the economy, forms part of its aim to regain market share that it has been losing for years as well as regain volumes in terms of production. The company, which is 130 years old having started operations on the outskirts of Pretoria in 1892, announced on Thursday that Sinoma Overseas Development Company would be constructing the plant, which should be commissioned by the end of 2026, subject to board approval. The new “super” plant will replace two other plants, which are 40 years old, and currently push out 1.5 million tons via three kilns…

President Cyril Ramaphosa will lead a powerhouse delegation representing South Africa at the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland with an eye on profiling South Africa’s G20 Presidency. The country’s Finance Minister, Enoch Godongwana, speaking at a pre-WEF breakfast briefing session on Thursday, said, “For the first time in many years, his Excellency Cyril Ramaphosa, will lead the South African delegation. This presents a golden opportunity to not only strengthen South Africa’s visibility on the world stage, but to also profile our G20 Presidency. “Under the theme of Solidarity, Equality, and Sustainability, our G20 Presidency reflects the essence of South Africa’s vision for global leadership.” At this year’s edition of WEF, the key theme is “Collaboration for the Intelligent Age”. Godongwana said, “This gathering underscores the importance…

South African Airways (SAA) has confirmed that the national carrier is unaffected by the disruptions caused by the re-entry of SpaceX rocket components, while the Air Traffic and Navigation Services (ATNS) says it is fully aware and prepared to manage such disruptions. "We can confirm that the re-entry of SpaceX rockets is outside the SAA flight schedule. No impact is expected for SAA. The SAA team is continuously monitoring the situation," Khaya Buthelezi, the communications manager at SAA said yesterday. The Air Traffic and Navigation Services (ATNS) has also confirmed that it is up to speed with the disruptions caused by the re-entry of SpaceX rocket components, after Australian airline Qantas reported several delays on its Sydney to Johannesburg route. Qantas stated it had to delay several flights on the…

The global economy will likely face significant challenges in 2025, with 56% of chief economists surveyed expecting conditions to weaken. This was the outcome of the latest Chief Economists Outlook from the World Economic Forum (WEF). The WEF holds its annual meeting in Davos, Switzerland, on Monday. Only 17% of the economists foresaw an improvement, pointing to heightened uncertainty in key regions, and the need for measured policy responses worldwide, the authors of the reported said. “The latest Chief Economist’s Outlook reveals a global economy under considerable strain,” said WEF Head of Economic Growth and Transformation Angus Collins. The economists believed that the US is poised for a short-term boost – with 44% of them predicting strong growth in 2025, up from 15% when they were asked in August last…

Rayhaan Survé, the deputy chairman of Sekunjalo Investment Holdings (SIH) and the Survé Family Office, said in an interview yesterday that the World Economic Forum (WEF) 2025 presents great opportunities to engage global leaders and learn new technologies to benefit South Africa. Survé will participate in WEF, which is expected to take place from 20 to 24 January next week in Switzerland. In an interview with Business Report, Survé also highlighted the importance of growing young entrepreneurs in South Africa and addressing climate change. A hub for global ideas Survé said that WEF is an incredible gathering of amazing minds around the world, and he is always humbled to be a part of it. “I've had the experience of the economic forum over the last few years, and it's always…

It’s twenty-twenty-thrive and you’ve decided you’ll finally take the leap and start your own business. Or perhaps you have been flirting with a promising side hustle for some time, and you’re ready to turn your part-time gig into a full-time thing. For those who have chosen to journey down the rewarding path of entrepreneurship, it is important to keep in mind that it typically brings with it an entirely different set of financial challenges and priorities than those you may have known as a salaried employee. It is important to understand what these are so that you can safeguard your personal financial well-being. Without the security of employment and the benefits it can provide – such as paid annual and sick leave, partly subsidised medical and retirement contributions, etc –…