Star 2025-10-10

Leila Fourie, the dynamic leader of the Johannesburg Stock Exchange (JSE), has announced her retirement as Group Chief Executive Officer effective 31 March 2026. As Fourie prepares to step down, the JSE Board has appointed Valdene Reddy, the current Director of Capital Markets, as the new Group Chief Executive Officer effective 1 April 2026. The Board expressed confidence that Reddy's extensive industry expertise and strategic insights will enable the JSE to navigate the challenges of an evolving financial landscape successfully. Since her appointment in 2019, Fourie has guided the JSE through a significant transformation, characterised by strategic innovation, operational resilience, and, notably, a strong commitment to inclusive leadership. Fourie's tenure has not only been defined by robust financial outcomes but also by a fervent dedication to sustainability and regulatory excellence.…

Speculation has incorrectly linked the Public Investment Corporation’s (PIC) suspension of its chief investment officer (CIO), Kabelo Rikhotso, to its investment in AYO Technology Solutions. These matters are quite distinct, and this is a deliberate strategy to use AYO as a distraction. Rikhotso, CIO in Africa’s largest asset manager since May 2022, was placed on precautionary suspension following a whistleblower report alleging misconduct within the PIC. The suspension stems from internal governance concerns raised in that report and makes no reference to AYO. According to an official PIC statement, the suspension is interim, procedural, and effected under applicable labour legislation and internal policies to ensure a fair, objective, and independent investigation. “Rikhotso’s suspension follows allegations of misconduct that were levelled against him through a whistleblower report. Effected in line with…

The Competition Commission said Thursday it has approved the acquisition by asset management firm Differential Capital of Murray & Roberts (M&R) subsidiary TCCA, a company that owns Cementation Africa and other mining contracting businesses, without conditions. Differential Capital operates in South Africa and manages investments - retirement funds and hedge funds - on behalf of its clients. M&RL’s business rescue practitioners (BRPs) said in their latest creditors' update that the Differential Capital transaction to aquire M&RL's last major asset, its mining engineering operations, is a key component of the business rescue plan. “The BRPs and Differential Capital continue to work and make progress towards the conclusion of definitive agreements and towards the fulfilment of suspensive conditions. The South African merger application was filed with the Competition Commission in the last…

Motor vehicles, parts & accessories, and transport equipment registers highest growth rate, expanding by 4.7% year on year South Africa’s manufacturing sector remained under pressure in August, with output contracting by 1.5% year-on-year, extending July’s revised 1.3% decline. The continued slump means the sector is likely to drag on overall economic growth in the third quarter. Data from Statistics South Africa (Stats SA) released on Thursday showed that the largest negative contributors were the basic iron and steel, non-ferrous metal products, and metal products and machinery division, which contracted 5.9%, and the food and beverages division, which fell 3.0%. Stats SA’s Director of Industry Statistics, Nicolai Claassen, said that weaker production in the food and beverage industry was a notable drag on output as it fell by 3% year-on-year. "On…

The business community in South Africa is hoping that the upcoming G20 Summit in Johannesburg will pivot actionable solutions and proactive strategies to tackle Africa’s $100 billion financing gap. This comes as South Africa in November will host the annual Summit of the Group of 20 (G20) sovereign countries, the European Union (EU) and the African Union (AU) in response to developments in the global economy. The G20 is responsible for creating the foundation for global economic stability, a vital catalyst for economic development and implementing consequential global commitments such as the Pact for the Future and the 2030 Agenda for Sustainable Development (Agenda 2030). The Business 20 (B20), which serves as the official G20 dialogue forum with the global business community, is of the view that South Africa’s G20…

The Road Freight Association (RFA) has reviewed the recently released White Paper from Port of Gauteng and it notes that the developers have targeted a very ambitious project to address the huge shortfalls in the current logistics network, especially around rail and multi-modal operations involving rail, as well as the fundamental necessity of involving and allowing the private-sector to drive the integration of logistics. The R50 billion project represents a pivotal opportunity to address the systemic inefficiencies crippling South Africa’s economic arteries, particularly the Durban-Gauteng freight corridor. The RFA has long championed an integrated, multimodal logistics network where road and rail function as collaborative partners, not competitors. The vision outlined in Port of Gauteng White Paper, “to create a premier trade gateway that restores balance to our supply chain”, resonates…