SA’s R1.5-billion bill with no rules

SA’s R1.5-billion bill with no rules

South Africa is paying renewable energy producers hundreds of millions of rand to stop generating, and no rule anywhere in the electricity rule book governs how that money is recovered or who ultimately carries it. That is according to energy regulator Nersa, which told TechCentral that the framework meant to manage the country’s shift to…

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FirstRand ups stake in Optasia in R1.5-billion deal

FirstRand ups stake in Optasia in R1.5-billion deal

Banking group FirstRand has increased its shareholding in JSE-listed fintech Optasia to 26.1% after acquiring an additional 6% stake in a deal worth about R1.48-billion. The banking group purchased 74.1 million ordinary shares at R20 each on 25 March from an entity owned by Bassim Haidar, Optasia’s founder and non-executive director. The transaction follows FirstRand’s…

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