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Every year, the Fast Company, one of the most famous media brands in the world, releases a list that honors the businesses that make the most significant impact on the industry and culture, showing different ways to do it good in a fast changing world.
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The World's Most Innovative Companies (MIC) list is Fast Company's signature franchise and one of the most anticipated editorial efforts of the year. It provides a blueprint and road map for the future of innovation in the most dynamic sector of the economy.
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Fast Industry editors and writers are looking for the newest businesses on the planet and across multiple industries. They also judge the choices received through the application process.
Today, the new installment of the World's Most Innovative Companies (MIC) list is officially out and the 2020 MIC list features 434 businesses from 39 countries, with more than a few African companies of he stood next to Snap. , Microsoft, Tesla, Spotify, and Canva on the list.
Among the African countries represented in the list of the Most Innovative Companies in the world are Kenya, Nigeria, Senegal, and South Africa.
Twiga is an online business-to-business (B2B) platform that sources directly from farmers and delivers to urban retailers. Twiga connects farmers and traders to authentic, reliable, modern products and provides a complete supply chain in Kenya for quality production in urban areas. Twiga actually entered the 50 Fastest Innovative Companies for 2020.
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MPedigree has developed a quality solution to the problem of counterfeit goods: embedding a unique code in the product label, which sellers can send to the manufacturer to verify that the item is genuine. The startup, which currently operates in dozens of countries, works with some of the largest pharmaceutical companies in the world to detect counterfeit drugs. It also enables traceability for seeds and other agricultural products in Africa.
Copia Global provides a consumer catalog ordering and delivery system intended to serve customers in developing countries. The service uses mobile technology and a network of agents that act as distribution points, allowing rural and urban consumers to access a wide range of quality products at reasonable prices.
PiggyVest calls itself West Africa's first online "Savings and Investments" app. It was first launched as "Piggybank.ng" on January 7, 2016 as a banking-only platform before expanding its offerings to include low-risk/no-risk investments. PiggyVestis in its mission 'to empower everyone to manage and grow their own finances' and the platform is very popular among millennials.
MPost stands for "Mobile Post Office". The platform allows mobile phone users to make their phones work as mobile offices, allowing people to make their mobile number their official postal address. With it, the user accesses the Mail Service through his mobile phone. Launched in late 2019, the service alerts users when emails arrive, which they can receive or send.
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Tizeti is a fast growing Wireless Internet service provider in Lagos, Nigeria, providing unlimited high speed Wi-Fi access to residential and business customers using wide area Wi-Fi. Tizetiis builds Wi-Fi solar base stations to provide affordable unlimited internet service. The project is in Lagos, Ogun and Rivers State in Nigeria, and the start is already in Ghana.
Founded in 2016 by Sarah Diouf, Tongoro is a brand that is ready to enter the development of Senegal. The Tongoro fashion brand has been worn by celebrities such as Beyoncé and featured in
. Diouf uses the label to showcase local fabrics and techniques, as well as the work of African makers and weavers, built to international standards.
Lumkani is a social enterprise launched by South African Students in 2014 to deliver networked heat detectors to reduce the risk of fire in rural and urban areas. Technology companies also distribute insurance products to financially disadvantaged families and businesses in cities and informal settlements. Lumkaniseeks to promote business and social practices that respect people, ensure sustainability and create value.
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Kobo360 is a technology-based digital logistics platform that integrates end-to-end transportation services to help cargo owners, truck owners and drivers, and cargo receivers achieve supply chain management effective. Ife Oyedele II and Obi Ozor founded the company in 2016.
Launched in 2019, 54gene uses human genetic data collected from various African populations, to improve the development, availability, and effectiveness of medical products that will benefit Africans and the entire population of the world. Supported by international investors, 54gene aims to facilitate the discovery of new medicines and diagnoses that are more beneficial for Africans. The once mighty AngloGold Ashanti has dropped from the list of SA's Top 10 mining companies, replaced by Royal Bafokeng Platinum, according to the 2021 PwC SA Mining Report released on Tuesday.
"The gold sector has experienced the largest negative share price movements as a result of falling gold prices and lack of investor confidence in the precious metal," the report said.
"Furthermore, gold is still ranked as the most preferred commodity in June 2021 and this is reinforced by the downgrade by AngloGold Ashanti and Gold Fields."
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Strong iron ore price movements saw Kumba Iron Ore rise to second place, on the back of a record financial performance.
In terms of rankings, Impala Platinum is the biggest climber, moving from sixth position to replace AngloGold Ashanti in the top three, after its stock turnover more than doubled between June 2020 and June 2021.
In addition to Impala Platinum, Sibanye-Stillwater moved from fifth to fourth place. Both increases in rankings are due to platinum group metal (PGM) prices.
Higher prices for PGM and iron ore are the main driver behind the 63% increase in mining revenue for the year to June 2021, according to the report.
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Mining has been one of the most resilient sectors of the SA economy, benefiting from an average 71% increase in PGM prices and 48% increase in iron ore prices. These high prices helped offset the decline in production that occurred at the start of the hard lockdown in March 2020.
There was a 13% increase in mining production over the previous year, with diamonds, manganese ore and chromium leading the way. Diamond production increased by 30% annually, while coal production decreased by 6%.
Steel prices rose by more than 200% from the previous year and this was largely influenced by China's rapid economic recovery and the opening of other global steel markets.
A total distribution of R76 billion was made for the year to June 2021, up from R43 billion in the previous year. Impala Platinum paid R11 billion (2020: R0.9 billion) in dividends for the year to June 2021, while Kumba gave R25 billion (2020: R19 billion) to shareholders.
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Although gold mining companies are struggling to break into the top 10 list of companies by market share, Harmony increased its revenue by 42%, mainly due to a 26% increase in production and a higher average gold Rand price more than.
"The excellent business performance has put the mining industry in a very strong business position," said Andries Rossouw, PwC Africa head of energy, resources and materials.
“Debts have generally been repaid and returns to shareholders have reached record levels of rand for many companies. The fiscus has benefited from direct and indirect taxes and mining taxes to the extent that it can support continued economic support during the pandemic.
"Remaining free cash flow and available cash resources leave mining companies with attractive capital allocation decisions," Rossouw added.
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"The plan will include expansion and new development, acquisitions, strengthening local infrastructure and host communities, product development, and investment up and down the value. The effectiveness of the process requires a long-term sustainable strategy.
Ciaran Ryan is a Johannesburg-based freelance writer with a background in finance and mining, having previously led a gold mining operation in Ghana. He currently writes for a number of SA and overseas newspapers on issues ranging from mining to investment.
CPI ex OER The Consumer Price Index excluding owner's regular rent (CPI ex OER) measures monthly changes in prices for various consumer goods excluding owner's regular rent which measures changes in owner-occupied home prices.
The RepoTarif is where the Reserve Bank lends money to the country's commercial banks and is regulated by the Reserve Bank's Monetary Policy Committee.
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The prime loan interest rate is the interest rate that a commercial bank will charge a customer when offering a loan (home loan or car finance).
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