Transcript

Good day, and welcome to Just a Moment News. I’m Erika, and here are today’s headlines for August 15, 2023.

First up, Absa, a South African bank, has seen a significant increase in customers falling into debt during the first half of this year. This is due to higher interest rates and a rising cost of living. As a result, the bank has experienced a 260% surge in bad debt charges for home loans. The credit loss ratio for home loans has also grown, and approval rates have deteriorated across the industry. Despite these challenges, Absa managed to achieve a 2% rise in headline earnings. However, earnings in the South African domestic market fell by 17%…

Moving on, the Ballito Junction regional mall in KwaZulu-Natal is undergoing a R120 million upgrade to become a mixed-use development. The upgrade includes the addition of retail and office spaces, as well as the inclusion of international brands Krispy Kreme and Starbucks. This development is seen as enhancing the work environment and adding to the shopping and dining options in the area. The project is expected to be completed by the end of November…

In other news, Johann Steynberg, the CEO of Mirror Trading International (MTI), a South African crypto trading firm, has been sentenced to three years and six months in prison in Brazil. Steynberg was found guilty of using a forged identity document and has been fined R595,000. MTI was labeled a pyramid and Ponzi-type scheme after promising high returns to investors. The collapse of the company led to the processing of more than 46,000 bitcoin, making it the largest pyramid scheme in South Africa’s history…

The Department of Health has launched a WhatsApp chatbot called Young Africa Live to support and advise young people on various topics. The chatbot aims to provide a safe space for youth to discuss issues they might feel hesitant to talk about in person. However, the chatbot has some shortcomings in terms of providing context in its answers. The platform offers 24/7 advice and connects users to health resources and practitioners…

MTN South Africa, part of the MTN Group, has experienced a 1.9% growth in service revenue despite challenges such as load shedding and interest rate hikes. The company invested heavily in network resilience to overcome power cuts, resulting in a 3.9% growth in subscribers. However, there was a concerning drop in outgoing voice revenue. In the fintech sector, registered mobile money users increased, but active users grew by just 1.2% year on year. The enterprise business of MTN South Africa saw a 9.3% growth in service revenue…

Lastly, the Alliance of Motion Picture & Television Producers has made a new offer to striking screenwriters, addressing issues such as crediting humans instead of artificial intelligence for screenplays and sharing viewer data with writers. Key figures like Netflix’s Ted Sarandos and Walt Disney Co.’s Bob Iger are pushing for an agreement with the Writers Guild of America. The offer also includes better residual payments and proposed salary increases. Negotiations are ongoing as the strike has halted new film and scripted TV production…

That’s all for today’s news. Thank you for joining me on Just a Moment News. I’m Erika, and I’ll see you next time.

Keywords - moment, daily, news