Vodacom has spent R4 Billion rand over the last four years on power generation related costs
Vodacom reported their full year numbers to the end of March 2023 today. The international businesses and the companies ability to take advantage of a weaker rand made up for a subdued result in South Africa as the economy continues to be hampered by severe electricity shortages. This year alone Vodacom has spent R300 million on fuel, batteries and generators.
Pick n Pay Chairman Gareth Ackerman takes a hard line on South Africa’s energy crisis
In his introductory comments at Pick n Pay's year end results the Group's Chairman Gareth Ackerman commented: "As outlined in our announcement this morning, in recent months we have spent around R60-million per month on diesel. It is an extraordinary challenge to manage a business on this basis. Without this unnecessary cost, our Result would have beaten our own forecasts and those of many external commentators. Shockingly, 37% of the cost of each litre of diesel we have bought – over half...
Renergen Boss Stefano Marani talks to the huge benefits of a Nasdaq listing for their shareholders
Renergen Boss Stefano Marani talks to the huge benefits of a Nasdaq listing for their shareholders Renergen Limited reported full year results today for the first time as a producer rather than an explorer. The Helium and natural gas producer cut its loss by more than a fifth in its year to end-February. Renergen, which began production in September, said revenue surged just over 388% to R12.7 million to end-February, with its loss after tax falling 21% to R26.6 million. The company, valued...
South African Banks will spend R700 Billion over the next 4 years on Sustainable Finance
South African Banks will spend R700 Billion over the next 4 years on Sustainable Finance Anneke Lund Executive Sustainable Finance at Standard Bank recently participated in an Energy symposium which put women at the centre of solving for South Africa's energy crisis. Lund highlighted that South African Banks have publicly pledged to spend R700 Billion in aggregate over the next four years on Sustainable Finance. Standard Bank itself has committed to R250 billion rand over this time frame with a R50...
MTN Group announces resilient results despite multiple macro economic challenges.
MTN Group announces resilient results despite multiple macro economic challenges. MTN Group President and CEO Ralph Mupita says ending load shedding in South Africa is not a short term game adding that it may take up to five years to overcome electricity shortages. Mupita stresses that we need to take steps now to ensure that we do indeed recover from what is currently a desperate situation. MTN services 289.1 million customers across 19 countries. Watch more episodes of the C-Suite.
Standard Bank Group CEO Sim Tshabalala is in the C-SUITE as the Group reports stellar results
Standard Bank Group CEO Sim Tshabalala is in the C-SUITE as the Group reports stellar results An upbeat Sim Tshabalala presented excellent full year results to the end of December 2022 for the the banking giant today. Operations outside of South Africa performed exceptionally well and now make up a whopping 36% percent of the overall group. Two things weigh on Tshabalala when it comes to South Africa's outlook namely: Infrastructure and Power. Watch more episodes of the C-Suite.
Group Chief Executive of Sanlam Paul Hanratty is in the C-SUITE
Group Chief Executive of Sanlam Paul Hanratty is in the C-SUITE Speaking on the announcement of Sanlam Group's Full year results Group CEO Paul Hanratty said "It's been an incredibly difficult 12month period but we are optimistic that the environment will start improving from late 2023 to early 2024 and then we are ready to go! " Watch more episodes of the C-Suite.
Top CEO says South Africa’s Grey-Listing is just another own goal in a long list of own goals.
Top CEO says South Africa's Grey-Listing is just another own goal in a long list of own goals. Momentum Metropolitan CEO Hillie Meyer on the announcement of the company's half year results stresses how difficult it is to do business in South africa whether you are a large corporate, an SME or a consumer. Meyer says Momentum Metropolitan stands ready to help solve the country's problems if Government extends a hand. Watch all our videos for In The C-Suite.