Star 2025-01-30

Company’s shares were suspended in October 2019 “after a reconstitution of the entire board” Artificial Intelligence (AI) software solutions provider, 4Sight, on Wednesday celebrated the moving of its listing from the JSE’s Alternative Exchange (AltX) to the Main Board under the general category, with its stock trading at 70 cents per share shortly after the market open. The company, which kept its share code of 4SI, was founded in 2013 and was trading at 70c as of Tuesday’s close. Speaking ahead of the blowing of the kudu horn, chairman Kamil Patel said “wow, we’ve done it”. Patel, a Mauritian former professional tennis player, added that the move was a once in a lifetime milestone. “This moment is more like a reward in the way I see it. It reflects hard…

Anglo American will use the $1 billion (around R19bn) cash from the disposal of its steelmaking coal mines in Australia to strengthen its balance sheet as it forges ahead with a new strategy focusing on copper, premium iron ore and crop nutrients. Other assets being disposed of or divested out of under the strategy include Anglo American Platinum, De Beers, among others. Anglo American, whose shares traded 1.28% weaker at R546.92 in afternoon trade on the JSE on Wednesday, is in line for a $4.9bn windfall from the disposal of its steelmaking coal operations. Last year, the company reached an agreement to spin off some of its Australian steel-making coal assets to United States-listed Peabody Energy for $3.77bn. On Wednesday, Anglo American announced the completion of the sale of the…

The African Guarantee Fund (AGF) has launched its Mission 300 Local Currency Guarantee Facility, an initiative aims to mobilise $5 billion (about R92bn) to support energy access projects across Africa. This initiative will facilitate financing for small and medium-sized enterprises (SMEs) within the Distributed Renewable Energy (DRE) sector through strategic partnerships, innovative financing mechanisms, and capacity-building efforts, heralding a new era of energy access across the continent. The unveiling of this facility is part of a broader, ambitious initiative led by the African Development Bank Group (AfDB) and the World Bank Group, aiming to provide electricity to 300 million Africans by 2030. Currently, Africa grapples with an alarming energy access challenge, with approximately 600 million people lacking electricity as of 2023, necessitating an estimated annual investment of nearly $25bn to…

In a move that could stave off a looming crisis in South Africa's steel sector, government and industry sources have confirmed that negotiations are advancing regarding a significant R1 billion rescue package for ArcelorMittal South Africa (AMSA). This initiative, which emerged partially from discussions at the recent World Economic Forum (WEF), aims to salvage the company's longs steel operations, potentially protecting around 100 000 downstream jobs that hang in the balance. Officials from the Department of Trade, Industry and Competition (the dtic) have stated that Minister Parks Tau has assured meetings with AMSA’s Group CEO, Lakshmi Mittal, during the recently-concluded WEF Annual Meetings in Davos, Switzerland. While the specifics of the deal remain under wraps, sentiments from financial sources suggest optimism regarding the Newcastle plant’s future. “Yes, there is credence…

Stocks & Strauss Fund Manager has announced the establishment of the University Technology Fund II (UTF II) in a bid to bolster the commercialisation of groundbreaking research and technology at South African universities. Reaching a significant milestone in December 2024, all agreements have been concluded with a substantial portion of the funds already committed, marking considerable progress towards the ambitious R400 million target fund size. Anchor investors in UTF II include notable names such as the SA SME Fund, Stellenbosch University, and Allan & Gill Gray Philanthropies Africa, reinforcing a collaborative co-investment model built on a shared vision of innovation and advancement. This collective effort strengthens the initiative that boasts additional university participation, including the University of Pretoria, the University of Cape Town, and WITS University, underlining a robust commitment…

The latest preliminary report from the Crop Estimates Committee (CEC), released on Tuesday has raised concerns for some summer crops, particularly wheat and barley, which are forecast to yield less than last season. However, farmers and industry experts cautioned that it was still premature to predict the outcome of the season, emphasising that the forthcoming month of rains will be pivotal for crop viability. According to the CEC’s report, expected production for wheat has been slightly downgraded to 1.925 million tons, reflecting a decrease of 0.52% or 10 100 tons from the previous estimate of 1.935 million tons. The Western Cape, a crucial region for wheat farming, anticipates a yield of 1.067 million tons, which is a 1.69% drop, equating to 18 400 tons less than predicted earlier. For canola,…