South Africa is considering a 20% tax to curb online gambling
Treasury estimates that, under current levels of activity, the new tax could generate over R10 billion in additional revenue annually for the national government.
Business
Transnet reaches R600m settlement with Nedbank amid ongoing state-capture recovery efforts
The dispute was linked to contracts and financial arrangements concluded during the period of alleged state capture under former president Jacob Zuma.
Eskom turnaround gains momentum as S&P lifts credit ratings
Eskom said it plans to strengthen its long-term sustainability and energy security efforts to support South Africa’s growth and the wider sub-Saharan region.
Tanzania revives long-delayed $10 billion Bagamoyo Port
The Bagamoyo port forms part of a larger special economic zone that is expected to include industrial parks, logistics facilities, and integrated transport infrastructure.
Zimbabwe’s Kingdom Hotel set for revival after US$30M acquisition by UAE investor
The Kingdom Hotel, a 294-room landmark overlooking the Zambezi and a short distance from Victoria Falls, shut its doors in early 2023 following a lengthy lease impasse with former operator.
South Africa ends G20 presidency with review calling for slimmer, stronger forum
Through the review, South Africa positions the G20 for a more disciplined and agile second cycle of presidencies.
Revolut appoints seasoned SA banker Gaby Magomola to lead African expansion
Revolut described Magomola as one of South Africa’s most respected banking pioneers, bringing deep expertise in finance, governance and economic transformation.
Standard Bank, Africa’s biggest lender, opens office in Cairo to boost Africa–Middle East trade
Standard Bank says Egypt’s economic momentum is unmistakable, and the bank aims to play a meaningful role in supporting that trajectory.
Vodacom partners with Starlink to expand high-speed broadband access across Africa
In 2024, Elon Musk claimed on social media that Starlink’s operating licence had been denied in South Africa because he is White.