Abey Kgotle
NEW CEO FOR MERCEDES-BENZ S.A.
Mercedes Benz South Africa has a new CEO.
He is Abey Kgotle – current executive director for HR and corporate affairs.
News 24 reports that this follows the resignation of current co-CEO Andreas Brand, who takes on a new role at Mercedes Benz HQ in Stuttgart.
In his new role, Brand will be responsible for seven Mercedes-Benz AG manufacturing operations, including the plant in East London.
RAMAPHOSA BACKS EQUITY EQUIVALENTS
President Ramaphosa has expressed his support for extending the use of equity equivalent programme for foreign investors to the broadband telecommunications sector.
This follows the recent proposal by Telecoms minister Solly Malatsi.
Were it to become law, it would open the way for Elon Musk’s satellite-based internet service Starlink to come to South Africa.
Speaking in the National Council of Provinces and quoted by Engineering News, Ramaphosa said Malatsi’s proposal was very much in line with our laws. He added that it had not been designed to open the door for Musk.
SANTAM LAMENTS FAILING INFRASTRUCTURE
South Africa’s biggest short-term insurer - Santam – says its biggest worry now is the country’s decaying infrastructure and stagnant economic growth.
These are hurting the insurer’s business.
Santam says worsening road, rail, port, power and water infrastructure are resulting in higher claims.
CAPITEC BACKS SCHREIBER, FEE INCREASE
South Africa’s biggest bank by customer base – Capitec – is backing Home Affairs Minister Leon Schreiber over the new R10 real-time identity verification fee.
Schreiber gazetted the decision last week and immediately drew fire from Tyme Bank, which accused him of targeting the poor.
As we reported yesterday morning, Schreiber hit back at Tyme Bank CEO Coen Jonker, accusing him of profiteering.
Capitec has backed the increase says the stability of the Home Affairs system needs to be improved.
Home Affairs says the system has been underpriced for over a decade and was running at a loss.
