Sparks strike a representation of cryptocurrency Bitcoin in this illustration taken November 24, 2024.
Image: REUTERS/Dado Ruvic/Illustration
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From boardroom shakeups and billion-dollar bets to the latest tech breakthroughs rewriting the rules, The Company Brief is your front-row seat to the stories moving markets and mindsets.
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Bitcoin hits an all-time high above R2.3 million
Bitcoin, the world's largest cryptocurrency by market value, hit a record high on Sunday and was up nearly 2.7% at $125,245.57 (R2,305,508) at 05:12 GMT. Bitcoin's previous record was $124,480 (R2,290,432) in mid-August, buoyed by friendlier regulations from US President Donald Trump's administration and strong demand from institutional investors. The cryptocurrency had risen on Friday for an eighth straight session, bolstered by recent gains in U.S. equities and inflows into bitcoin exchange-traded funds.
Almost 1 billion Salesforce records stolen, hacker group claims
Cybercriminals connected to a recent string of ransomware attacks on major British retailers said they had stolen almost 1 billion records from cloud technology giant Salesforce by focusing on companies that use its software. A group calling itself "Scattered LAPSUS$ Hunters" told Reuters it had obtained the Salesforce records, and said they contain personally identifiable information. The group also claimed responsibility for the hacks of Marks & Spencer, Co-op and Jaguar Land Rover earlier this year.
Africa’s oil and gas sector poised for new exploration boom, say industry leaders
Africa’s oil and gas industry could be entering a new era of exploration, underpinned by breakthroughs in seismic imaging, enhanced subsurface datasets, and faster permitting processes, according to experts speaking at Africa Energy Week (AEW): Invest in African Energies 2025 in Cape Town. Emmanuelle Garinet, Vice President of Exploration Africa at TotalEnergies, said advances in seismic and subsurface technologies were transforming the continent’s exploration outlook, particularly in frontier basins such as Namibia. She noted that Namibia’s success illustrates how modern data tools can reduce exploration risk and unlock new hydrocarbon provinces. By contrast, South Africa’s permitting system has faced delays due to legal challenges, a problem she described as “unacceptable” given limited budgets for global exploration.
PIC suspends investment head, Kabelo Rikhotso, with immediate effect
Africa’s biggest asset manager, the Public Investment Corporation (PIC) of South Africa, has suspended its Chief Investment Officer, Kabelo Rikhotso, with immediate effect following misconduct allegations raised in a whistleblower report. In a statement, the PIC described the suspension as a precautionary measure aimed at ensuring “a fair, objective and independent investigation into these allegations.” The corporation emphasised that the move “does not constitute a finding or pronouncement of wrongdoing” on Rikhotso’s part. The PIC did not disclose details of the allegations. Rikhotso declined to comment when contacted by Bloomberg News.
Uncertainty looms over social grant payments as Postbank at odds with Sassa
The South African Postbank has taken issue with the South African Social Security Agency (Sassa) over what it describes as a unilateral decision to extend their Master Service Agreement (MSA) by three months, arguing that the matter should instead be determined by a Ministerial Inter-Governmental Committee (IMC). Last week, Sassa announced a three-month extension to the notice period for the termination of the MSA with Postbank, saying the move would provide “time and space” for the executive authority to deliberate on issues between the two entities and offer guidance. However, Postbank maintains that the decision undermines a presidential directive made after a high-level government meeting, where it was agreed that an IMC would be established to resolve the dispute. In a statement last week, Postbank said the existing agreement should remain in force until the IMC is formally constituted and has deliberated on the matter.