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Absa CEO Arrie Rautenbach to step down

Absa has appointed long-serving executive Arrie Rautenbach as its new CEO, replacing Daniel Mminele, who resigned last year after clashing with the banking group’s board.

World News

The ongoing decline in the number of fixed lines in service in South Africa, a trend that has been evident for more than a decade now, is a “big concern” for Telkom, but is the result of fixed-to-mobile substitution more than the cost of line rental. That’s according to the group’s chief operating officer

Big companies are splashing unprecedented amounts of cash into e-retail in South Africa, with the likes of online merchandiser Takealot.com recently raising R1bn of investment for expansion in the country and sub-Saharan Africa, and Naspers ploughing R5,6bn into e-commerce around the globe