Group’s | Purple

Purple Group’s Mark Barnes on selling R200m stake

Purple Group founder Mark Barnes is selling his 17.5% share in the company. Barnes unpacks the deal for BizNews, telling founder Alec Hogg that he will remain a significant investor in Purple Group.Mark Barnes on the EasyEquities deal:[EasyEquities] was brought to me by Charles Savage and his team. I became principal investor in what was…

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AK-47 Gunmaker Sets Sights on Digital Currency

Kalashnikov firearms manufacturer has expressed its desire to switch to settlements using digital currency. Digital currency continues to be a hot topic in Russia and now, one of the country’s most well-known brands is getting into the fray. While the Kalashnikov firearms company might not exactly be a household name, their most famous product, the…

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Banking and Financial Services Reignite the European Industry Region

Digital technology firms such as Backbase, SmartMessage, Abaka, and Creatio joined the foremost edition of Finnovex Europe to formulate evolutionary strategies for re-igniting the banking and Financial Services Industry (FSI) of the European Region. The Leading Summit on Financial Services Innovation and Excellence, which kicked off from May, 24 – 25, 2021 on the host’s…

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Polygon Saw 1,102% Growth in TVL, BSC TVL Recorded 50% Decrease in May

DappRadar’s latest report shines a light on a number of key areas of the decentralized finance (DeFi) sector, including the popularity spike of Polygon (MATIC) and the continued success of non-fungible tokens (NFTs).  A few general market numbers from the report include one million unique active wallets in the blockchain industry. Of those one million…

Prosus | targets

Prosus targets online learning with R25bn Stack Overflow takeover – With insights from The Wall Street Journal

The Daily Insider: Prosus CEO Bob van Dijk has been under pressure recently, primarily from professional investors fretting the group’s cash is not being applied productively. That might change after last night’s surprise news that Prosus has secured the R25bn takeover of Stack Overflow, a hugely popular online venue for techies. The website is one…

Briefing | Flash

Flash Briefing: Sanral spends billions to recover e-tolls motorists won’t pay; Gold Fields big solar project; Eskom; Shoprite

Listen on iTunes The South African National Roads Agency Limited (Sanral) has spent an estimated R5.3bn on trying to recover e-tolls from motorists who are unwilling and unlikely to pay, an analysis from the Organisation Undoing Tax Abuse has showed. Sanral‘s latest annual report shows the agency spent an estimated R508m on collecting e-tolls, which brought in…

Capitec’s | Gerrie

Capitec’s Gerrie Fourie: “Covid was an extraordinary event” in response to remuneration backlash

Capitec’s chief executive Gerrie Fourie formed part of last night’s BizNews Power Hour, outlining the reasoning behind shareholder backlash over the implementation of the remuneration policy, which was voted down by shareholders at the company’s annual general meeting last week. Executive remuneration is always a touchy subject. It becomes extra-touchy when many of the country,…

full-time | teacher

From full-time teacher to leading businessman – WeBuyCars executive director Faan van der Walt

WeBuyCars is the biggest car-buying service in South Africa. In September, Transaction Capital bought 49.9% of the business from the van der Walt brothers. Last week the stake was increased to 74.9%. Faan van der Walt joined the BizNews Power Hour to chat about the deal and told host Alec Hogg about the beginnings of…