Auditing firm KPMG SA was a “willing participant in State capture” and its leadership hasn't fully grasped the magnitude of what they were involved in, according to former finance minister Pravin Gordhan. He was in conversation with radio host Eusebius McKaiser on CapeTalk on Tuesday morning.
Energy storage technology company redT energy has sold fourteen 40 kWh energy storage units to remote critical communications infrastructure sites across Botswana. The locations currently have no connection to the grid and will use 11 kW of solar panels per site as the sole form of generation. redT’s units will be used to store a proportion of the solar energy generated during daylight hours for use during the evening.
Members of the Afrikaanse handelsinstituut (AHI) have adopted a new memorandum of incorporation and a new name, the Small Business Institute (SBI). “We would be proud if, over time, SBI becomes synonymous with credible research and public positions on all matters of interest to small business. Apart from a few hundred corporations and State-owned entities, over 95% of all businesses fall into this category,” SBI president Bernard Swanepoel said in a statement.
WhereIsMyTransport is expanding its reach to the rest of Africa. WhereIsMyTransport is a technology company that collects and connects public transport data, centralising regularly updated information about a city’s formal and informally run public transport networks (minibus taxis included) on its open platform, thus providing a single data platform for a city’s public transport ecosystem.
A R300-million equity and debt funding commitment letter has been signed between JSE-listed WG Wearne and Milost Global. Subject to certain terms and conditions, Milost will invest R50-million through the subscription of ordinary shares in Wearne and lend and advance it R250-million in convertible notes.
The integration of Gemfields is beginning to realise cost benefits, Pallinghurst reported on Tuesday when it reiterated its transformation into a long-life operating mining company from being a former closed-end investment vehicle. In presenting half-year results of the company on Tuesday, Pallinghurst restated its conviction that the restructuring and integration of Gemfields would materially Improve the company’s trading liquidity and promote a re-rating of the enlarged group.