Latest news with #Nedbank
Eyewitness News
8 hours ago
- Business
- Eyewitness News
Nu Metro hoping to revitalise movie-going experience
JOHANNESBURG - Cinema corporation Nu Metro hopes to revitalise the movie-going experience for all South Africans. Through various partnerships and theatrical expansions, Nu Metro is on a bid to prove its slogan, 'We're more than just movies, we're an experience', true. The corporation held an event for media and stakeholders last Wednesday to discuss and unveil what sets it apart from its competitors. This includes partnerships with other corporations to bring down the steep ticket prices. Many have bemoaned this as the reason they're unable to watch the film industry's latest offerings. These include partnerships with Absa Rewards, Nedbank, Momentum, Sanlam, African Bank, Vodacom, and Clientèle. 'Our prices, if you're using the partners, have actually gone down [since 2019]. Our strategic move after Covid was to bring in more partners to make it [ticket prices] more affordable... So, really, for a family of four you're looking at R270 for tickets and R180 for Coke and popcorn. It would've cost you more in 2019,' said Nu Metro business analyst Menen Muthial. However, a drawback they might experience is that moviegoers will need to be members of these corporations to access these discounts, potentially alienating an audience who may, for example, prefer a Nu Metro-specific discount deal that doesn't require a third party to use. 'At the end of it, the benefits are there, and it's not only a movie benefit that sits with these partners… It's a basket of value that you get, but the choice is yours,' Andries Basson, the operations executive Nu Metro, said. Another offering from Nu Metro, seemingly more targeted towards families, is its ongoing collaboration with Bounce Inc, an indoor active entertainment company that it likens to an 'urban playground environment'. The collaboration aims to target 'underused cinema spaces', transforming them into smaller Bounce experiences at top malls across South Africa. It will also be integrating the two juggernauts through symbiotic giveaways and prizes and integrating loyalty programmes where spending at one earns rewards or discounts at the other. 'We're flipping the script on what it means to 'go to the movies'. It's not just popcorn and a seat any more. Now you can jump, play, explore, and connect - all under one roof,' it said in a statement. Nu Metro also offers experiences such as different cinematic viewings with its 4DX theatres, it's 3D Xtreme theatres, and the introduction of its ScreenX theatre in Gateway in Durban, an 'African-first' which it said will 'drop you into the middle of a film, as it is intricately engineered to bring moviegoers closer to the action'. Additionally, consumers can host and attend events at Nu Metro cinemas, be catered to a VIP viewing experience, a kids-only viewing experience, and host birthday parties. 'Nu Metro isn't just about watching movies - it's about the experience. With bold investments and a clear vision, the cinema group is reaffirming what audiences across South Africa already know: cinema is well and truly alive,' the statement said.
Business Recorder
13 hours ago
- Business
- Business Recorder
South African rand steady before retail sales data
JOHANNESBURG: The South African rand was little changed in early trading on Wednesday, before the release of the country's retail sales data later in the day. At 0659 GMT, the rand traded at 17.89 against the dollar , about 0.2% stronger than Wednesday's close. Statistics South Africa will publish May retail sales data at 1100 GMT, shedding light on consumer spending patterns in one of Africa's biggest economies. Economists polled by Reuters predict retail sales will rise 4.4% year-on-year in May, after a 5.1% increase in April. South Africa's rand and stocks slip as lower commodity prices weigh 'Retail sales probably remained relatively robust,' said Nedbank economists in a research note, though they expect a marginal growth of 2.0%. 'The more subdued inflationary environment, lower interest rates, and easing debt service costs have lifted real wages and discretionary spending,' said the note. South Africa's benchmark 2035 government bond was slightly weaker in early deals, as the yield rose 1 basis point to 9.87%.
IOL News
17 hours ago
- Business
- IOL News
Nedbank scores legal victory in R15 million loan dispute
The court found there were no reasonable prospects that Baba's appeal would succeed and ruled that he must repay the loan, along with interest and legal costs. Nedbank has won a court case won in an ongoing legal battle after the Western Cape High Court dismissed an attempt by Moussa Baba to appeal a judgment holding him liable as surety for a R15 million property loan. The court found there were no reasonable prospects that Baba's appeal would succeed and ruled that he must repay the loan, along with interest and legal costs. Baba had signed as surety and co-principal debtor when Bestinver Company South Africa bought property in Hyde Park backed by a R15 million loan from Nedbank. When Bestinver defaulted on repayments in 2020, the bank called in the loan. Because of the surety agreement, Baba was responsible for the full amount, plus interest and attorney-and-client costs. In trying to overturn that ruling, Baba argued that the loan had effectively been paid off when R14 million was deposited into Nedbank's attorneys' trust account. That money had been paid by Elite Vision, a company owned by the Baba family. After Bestinver bought the property, the company went into liquidation and another Baba family owned company, Elite Vision, agreed to buy the house.
Reuters
a day ago
- Business
- Reuters
South African rand inches up before local mining data, US inflation print
JOHANNESBURG, July 15 (Reuters) - The South African rand edged up in early trade on Tuesday before the release of local mining production figures and as investors awaited U.S. inflation data due later in the day that could give clues on the Federal Reserve's interest rate path. At 0702 GMT, the rand traded at 17.8125 against the dollar , 0.5% firmer than Monday's close. Statistics South Africa will publish May mining production numbers (ZAMNG=ECI), opens new tab, (ZAGLD=ECI), opens new tab at 0930 GMT. Production fell 7.7% year-on-year in April, but analysts polled by Reuters and Nedbank economists expect it to have fallen by a smaller margin of 5.4% and 2.1% respectively this time around. "Despite marginal improvements, logistics remain a significant hindrance to production, particularly in the current context of subdued commodity prices and soft demand," Nedbank economists said in a research note. The greenback last traded flat against a basket of currencies as investors awaited U.S. consumer price data for June due at 1230 GMT on Tuesday. South Africa's benchmark 2035 government bond was flat in early deals, with the yield at 9.885%.
Zawya
5 days ago
- Business
- Zawya
South Africa's business elite: This is your moment to shine
The 24th annual Nedbank Oliver Top Empowerment Awards, returns on 31 July 2025 at the prestigious Sandton Convention Centre, celebrating the organisations driving real transformation, empowerment and inclusive economic growth in South Africa. With entries closing in just one week, this is your final opportunity to stand among the nation's most powerful brands and visionary leaders. Join the icons of industry: You'll be in world-class company alongside sponsors such as Nedbank, The South African Local Government Association (SALGA) and this year's participants, including renowned names like Old Mutual, Nestlé, Sasol, Sanlam, Mondi Group, and Schneider Electric together with over 700 VIP delegates, ranging from C-suite leaders to senior government stakeholders. The evening promises to be a celebration of impactful initiatives and transformative leadership. Past keynote speakers and Lifetime Achievement Award recipients have included President Cyril Ramaphosa, former President Thabo Mbeki, Mr Trevor Manuel, Dr Mathews Phosa, Dr Anna Mokgokong and Professor Thuli Madonsela, among other national icons making this a stage where legacy meets leadership. Why leading companies enter: Being named a winner or finalist at the Nedbank Oliver Top Empowerment Awards places your brand in a league of excellence - boosting investor confidence, attracting top-tier talent, and giving you marketing firepower that translates into long-term growth. Your win becomes a badge of honour, a powerful story of purpose, and a competitive edge in a fast-moving market. Your platform for national recognition Whether you're a JSE-listed company, multinational enterprise, or one of South Africa's Top 500 companies, this is your opportunity to take the spotlight and showcase your commitment to empowerment and transformation.
