New Business

Aspiring filmmakers in densely populated Diepsloot, north of Johannesburg, now have a real shot at making their movie dreams come true, with the opening of the first film studio in the township on Wednesday.

WhatsApp could soon be the leading social network on South African mobile phones, with more than half - or 10.6-million - of the country's urban adults now using the instant messaging service, according to researchers World Wide Worx and Fuseware.

The government has launched an updated bio-economy strategy that seeks to harness partnerships with industry and academia in order to accelerate the development of bio-based services, products and innovations in South Africa.

The Western Cape film industry contributed R3.5-billion to South Africa's gross domestic product in 2006/07, a new study finds. It also created around 8 500 jobs in the province and over 300 000 tourist "bed nights" across the country.

With 77% of the global platinum supply, South Africa is set to reap the rewards of record demand for the metal as vehicle manufacturers install more pollution-control devices, according to Johnson Matthey, the world's largest distributor of platinum group metals.

A huge blow has been struck against cellphone theft in South Africa with the signing of an agreement between the country's cellular service providers, Business Against Crime and the SA Police Service that will render all reported stolen cellphones useless.

Africa's biggest stock exchange, the JSE, is opening its doors to foreign listings, a move expected to boost the value of the local bourse and create new opportunities for African businesses.

The department of trade and industry, with funding from the World Bank, has established the Black Business Supplier Development Programme, aimed at fast-tracking small and medium black-owned enterprises with potential for growth into the mainstream of the economy.

The Industrial Development Corporation, a government-owned development finance institution, has signed a US$125-million loan agreement with a number of international commercial banks.

The department of trade and industry has launched a Competitiveness Fund that provides financial support to qualifying entrepreneurs, allocating grants that cover up to 50% of their running costs.