Meta Platforms has cut plans to hire engineers as CEO Mark Zuckerberg warned employees to brace for a deep economic downturn.

The board of JSE-listed technology group Mustek has appointed Hein Engelbrecht as its new CEO with immediate effect.

Shares in Alviva Holdings leapt higher on Thursday after the group received an offer from a black-led consortium to buy it out.

JSE-listed Datatec has agreed to sell its Analysys Mason business for as much as £210-million, with the proceeds to flow directly to the group’s shareholders.

Futuregrowth Asset Management, a South African fixed-income money manager with R193-billion of assets, is raising a fund to invest in start-ups.

The rand tumbled on Thursday to its lowest level since October 2020 as electricity cuts renewed pressure on the currency.

The crisis at Eskom is getting worse, with the state-owned utility set to implement stage-6 power cuts until midnight on Friday.

Growthpoint Properties has said it’s running out of diesel to operate generators at some of its buildings as the country grapples with the escalating crisis at Eskom.

Nkwe Platinum and South Africa Zijin Platinum have contracted MTN and Huawei to build what the parties are calling Southern Africa’s first 5G-enabled “smart metal mine”.

The Internet service provider industry in South Africa is fed up with confusing regulations from communications regulator Icasa over ownership rules.