Quick reads for this week

Personal Finance highlights the quick reads for this week. Picture: Timothy Bernard, Independent Newspapers.

Personal Finance highlights the quick reads for this week. Picture: Timothy Bernard, Independent Newspapers.

Published Jun 23, 2024


MTN Business secures three-year transversal contract with National Treasury

MTN Business has announced that it has secured a three-year RT29 transversal contract with the National Treasury to enhance and implement smart electricity and water technology in 257 municipalities across the country.

MTN said the contract would see MTN Business supplying, delivering, installing, managing and maintaining end-to-end smart metering solutions.

Charles Molapisi, the CEO of MTN SA, said: “We are deeply committed to playing a significant role in providing leading digital solutions for South Africa’s progress. Digital technologies have become fundamental to everyday life, and our ambition is to ensure that these technologies touch the lives of our government, customers and businesses in various ways.

“This solution will not only bring value and impact to municipalities but will see our households and businesses reaping the benefits of a modern connected life.

“It’s clear that this partnership will bring about significant benefits that will take South Africa one step further towards achieving a technologically advanced and economically developed electricity and water systems that will ensure South Africa's usages remains sustainable for future generations.”


Absa set to acquire the domestic Wealth and Personal Banking and Business Banking business of HSBC Mauritius

Absa Group has announced that it has obtained regulatory approval from key regulatory authorities to acquire the domestic Wealth and Personal Banking and Business Banking businesses of the Hong Kong and Shanghai Banking Corporation Limited (HSBC), Mauritius branch.

The group said the transaction included the assets and liabilities of approximately 38 000 retail customers and about 400 small and medium enterprises from Business Banking, along with relevant employees.

“This transaction is aligned with Absa’s strategy to be a diversified franchise and its ambition to be a leading pan-African bank. With a strong emphasis on transparency and diligence, respective project teams from HSBC Mauritius and Absa Mauritius are working in close collaboration to ensure a seamless on-boarding for the new customers and colleagues alike. The official transition is planned to begin in the next few weeks,” the group said.

Absa Mauritius managing director Ravin Dajee said: “Now that the regulatory approvals have been obtained, this transaction enters a new stage. We will continue to collaborate with HSBC to ensure a seamless transition. Regular communication has been planned throughout the journey to provide timely information and support the transition. We look forward to on-boarding both the new customers and colleagues.”


Nepoworx, in partnership with Harambee, unveils a Work Readiness Programme

Nepoworx, in collaboration with Harambee Youth Unemployment Accelerator, has announced the launch of its first iteration of the Youth Work Readiness Programme in solar installations for 120 young South Africans.

The groups said the initiative invited 100 youth aged 18 and 35 who were not in employment, education or training. Additionally, a further 20 slots were reserved for experienced small business owners whose businesses had an electrical or renewable energy focus and were at the point of growth where they could absorb additional youth labour. The 120 beneficiaries were invited to submit their applications through the SA Youth platform.

“Upon completion of their training, the 100 beneficiaries will be placed in different fields of employment to undergo a 12-month internship programme that will allow them to gain practical work experience.

“Having completed that, both the 100 unemployed youth and the 20 small business owners will receive a PV Green Card confirming their qualification as solar installers,” the groups said.

For more information about the programme and how to get involved, applicants can visit: https://www.nepoworx.com/partners.