Star 2025-02-25

SolarAfrica has announced it has reached financial close on the first 114MW component of its flagship utility-scale solar project, SunCentral.,in a stride towards sustainable energy in South Africa. This major achievement, made possible through partnerships with Investec and RMB, involves a hefty investment of R1.8 billion and heralds the commencement of the project’s rollout in the sun-drenched Northern Cape province. Located strategically between Hanover and De Aar, SunCentral is poised for extensive development, anticipated to unfold in three phases. The first phase, comprising three 114MW facilities aggregating to a total of 342MW, aims to deliver renewable energy by wheeling it through South Africa’s power grid to a diverse array of off-takers. As the project evolves into its subsequent phases, the total capacity is projected to reach an impressive 1GW. A…

Prosus intends to acquire all Just Eat Takeaway.com’s shares for €20.30 per share cash via the Amsterdam exchange Prosus's share price fell over 7% on Monday after it announced a large €4.1 billion (R78.96bn) online food delivery company acquisition in Europe, Just Eat Takeaway.com, its second big deal in as many months. The Amsterdam-based Naspers subsidiary said Monday it reached an agreement to acquire Just Eat, to create the fourth largest food delivery group globally. In December, Prosus also announced the acquisition of Despegar, an online travel agency in Latin America, for about €1.62bn. In Amsterdam, Just Eat’s share price shot up 53% on Monday. Prosus plans to acquire all Just Eat’s shares for €20.30 per share cash. The price represents a 49% premium to the 3-month weighted average price…

The South African Poultry Association (Sapa) warned on Monday that South Africa faces an “imminent” bird flu crisis, urging immediate action against Highly Pathogenic Avian Influenza (HPAI). With outbreaks surging in the UK and US—where 1.8 million birds were culled in the UK over three months and 23.2 million killed in the US in December 2024 alone, driving egg shortages and price spikes—the risk is stark. Sapa noted that the virus often migrates with wild birds from Europe to South Africa in winter, amplifying the need for proactive steps. “The disease, which has already spread across Europe, the US, and Argentina, remains unchecked in many countries, signalling that the time to act is now,” it said. “The urgency of addressing this looming crisis cannot be overstated. Without vaccination, South Africa…

By its very definition, a third-party company is effectively one with which a business has a contract in the same vein as a supplier arrangement and is not meant to be involved in its business affairs. However, Steinhoff wasn’t hands off when it came to companies outside of its business conglomerate as, again through a series of complicated transactions and funding deals, it not only provided some funding for deal-making but also used these entities to move money around. One chapter of PwC’s investigation details the complex deal-making involving Campion and its subsidiaries. PwC’s report, the outcome of a lengthy investigation, stated that: “We have identified the Campion Group as an alleged third-party group of companies which the Steinhoff Group has had a business relationship with.” Campion, which was incorporated…

The next chapter of globalisation has begun: What we might call new globalisation. As Donald Trump was being sworn in, Economist Impact published the fifth edition of Trade in Transition, warning that global trade was heading for its most turbulent spell since the 1930s. In the days and weeks following the inauguration, the predictions made in the report have materialised. President Trump unleashed a fresh wave of tariffs, but this time his targets were prepared. China, Canada and Mexico hit back with counter-measures spanning tariffs, export controls and legal action. This tit-for-tat retaliation threatens deeper fragmentation, reminiscent of the trade wars a century ago. The rules-based system is being undermined, giving way to mercantilist confrontation. Trade policy is becoming increasingly transactional, with rules – and exemptions – to match. For…

The SA Canegrowers on Monday welcomed Agriculture Minister John Steenhuisen’s recent commitment to supporting over 24 000 black small-scale sugarcane farmers in South Africa’s multi-billion-rand sugar industry. “These growers in KwaZulu-Natal and Mpumalanga play a vital role in keeping South Africa’s sugar industry alive. In many of these rural areas, small-scale growers are among the few sources of jobs and income, making their success critical to the stability of the economies,” Higgins Mdluli, the chairman of SA Canegrowers, said on Monday. His comments followed Steenhuisen’s Friday night meeting in Mount Edgecombe, north of Durban, with small-scale growers and sugar industry leaders, including the South African Sugar Association (Sasa). There, Steenhuisen affirmed the government’s dedication to these farmers’ sustainability. “I am passionate about the cause of small-scale farmers to ensure their…