Star 2025-10-29

Engineering and construction group Murray & Roberts Limited (MRL) has confirmed that the Gauteng High Court granted a final liquidation order for its parent company, Murray & Roberts Holdings (MRH), on Monday. In a statement on Tuesday, MRL emphasised that the liquidation of MRH would not affect its ongoing business rescue process, as the two entities are legally and operationally distinct. While MRH functioned as the ultimate holding company, MRL operates as a downstream subsidiary with several intermediary entities between them. The company said the liquidation of MRH does not impact the business rescue proceedings of MRL, which continue firmly on track under the supervision of the duly appointed Business Rescue Practitioners. MRL entered voluntary business rescue on 22 November 2024, following severe liquidity constraints linked to project delays and…

Old Mutual on Tuesday said it had acquired a majority stake in 10X Investments (10X) from Old Mutual Private Equity (OMPE), part of Old Mutual Alternative Investments, and DiGAME Investments (DiGAME) for R2.2 billion. 10X is one of South Africa’s fastest-growing investment firms, with assets under management (AUM) at more than R68bn, servicing over 60 000 clients, with a market-leading position in net flows into passive products, ETFs and smart beta solutions. Old Mutual said this marked an important next step in the company’s evolution as a leader in passive, technology-enabled investment solutions in South Africa. The 10X management will retain a significant stake in the business. The transaction is subject to customary conditions and regulatory approvals, with completion expected in the second quarter of 2026. In 2014, OMPE and…

BAIC South Africa confirmed on Tuesday that the all-new BAIC B30 SUV will be assembled locally at the company’s Coega facility in Gqeberha, marking another significant step in the brand’s long-term commitment to the South African market. The announcement follows the B30’s dynamic first showing at the Festival of Motoring 2025 and comes ahead of its official national launch in November 2025. It said the local assembly will begin shortly after launch, reinforcing BAIC’s strategy to build key models on South African soil and expand the plant’s production footprint. “Localising the B30 is about more than manufacturing - it’s about investing in people, skills, and a sustainable automotive future for South Africa,” said Ameena Hassan, the Brand & PR Manager at BAIC South Africa. “Our Coega facility was built to…

Anglo American pressing ahead with sweeping portfolio simplification and assets disposal Anglo American has reported steady copper production and stronger operational performance across its key mining assets as the company presses ahead with a sweeping portfolio simplification, including the disposal of its diamond and platinum interests. The diversified miner on Tuesday said improved copper grades and higher output from its Quellaveco and Los Bronces operations helped offset a temporary lower production phase at the Collahuasi mine in Chile, which is expected to recover by the end of next year. Duncan Wanbald, CEO of Anglo American, said that in copper, strong operational momentum and higher grades at both Quellaveco and Los Bronces underpinned performance, offsetting the current lower production phase at Collahuasi. Copper production for the quarter to the end of…

The Passenger Rail Agency of South Africa (PRrasa) marked a major step in its modernisation and sustainability drive on Tuesday with the launch of its Solar Renewable Energy Project and the unveiling of Train Set 300 — known as Isitimela Sabantu (The People’s Train) in Durban. Presiding over the launch, Minister of Transport Barbara Creecy said the twin milestones symbolised a new direction for passenger rail in South Africa — one that places sustainability, reliability, and community development at its core. “As we transition towards a modern transport system, sustainability must be at the heart of everything we do. The Solar Renewable Energy Project launched today is one of PRASA’s most forward-looking initiatives, spearheaded by its subsidiary Intersite to transform how we power our operations,” she said. Creecy said solar…

South Africa stands at a crossroads, grappling with challenges that have tested the nation’s spirit and integrity. Yet, within this climate of uncertainty lies a remarkable opportunity: to reclaim the country’s tradition of moral leadership on the global stage. As the country waits for the launch of King V, the next evolution in corporate governance, we are called to consider not just rules and compliance, but the deeper values that define who we are - and who we aspire to become. This is a moment to reflect on the boardroom’s power to shape a future rooted in both responsibility and hope. When the Institute of Directors in South Africa (IoDSA) unveils King V on October 31, 2025, it will not just be another chapter—it will be a defining moment in…