Company News in Brief

White House staff told not to place bets on prediction marketsWhite House staff were warned last month not to use insider information to place bets on predictions markets.The email was sent to staff on 24 March, a day after US President Donald Trump announced a five-day pause on his threat to attack Iranian power plants and energy infrastructure.It referred to press reports that raised concerns over government officials using non-public information to place bets on platforms like Kalshi or Polymarket.White House spokesman Davis Ingle told the BBC that "any implication that Administration officials are engaged in such activity without evidence is baseless and irresponsible reporting."The Wall Street Journal first reported the email on Thursday.Ingle also said that all federal employees are subject to government ethics guidelines that prohibit the use of insider information for financial gain."The only special interest that will ever guide President Trump is the best interest of the American people," he added.The BBC has contacted Kalshi and Polymarket for comment.-BBC NewsEasyEquities fuels strong earnings growth at Purple GroupPurple Group reported a strong rise in earnings for the six months to 28 February 2026, with earnings per share up 21% and profit before tax increasing 33.3% to R78.7 million.Revenue grew 8.8% to R258.5 million, with operating expenses increasing by a modest 0.5% to R161.1 million.The Easy Group division, which includes platforms such as EasyEquities, EasyETFs, EasyAssetManagement and EasyTrader, was the main performance driver, with revenue up 18.5% and profit before tax jumping 66.3%.Client assets rose 41.2% to R94.9 billion, with active clients reaching 1.24 million.Retail inflows increased to R8 billion with growth increasingly being driven by “what existing clients do over time, not just by how many new ones join,” it notes.Charles Savage, CEO of Purple Group, describes this as a “defining moment” in the company’s journey.“The numbers are doing the talking,” he says. “The question coming into the year was simple: could we compound off a record FY2025? The answer is now clear.”In the period under review, the group also launched ZARU, a rand-backed stablecoin.It also expanded to the Philippines, launching EasyEquities in partnership with GCash. The group aims to have half a million active users by 2027.Looking ahead, the group cautions that the environment “may be less supportive”, but stresses that the business is not reliant on “tailwinds”.-Moneyweb FIC gets new chiefFinance Minister Enoch Godongwana has appointed Thabiso Thiti as director of the Financial Intelligence Centre (FIC) for a five-year term, effective 15 April 2026.Thiti replaces Advocate Pieter Smit, who has served as acting director since September 2023.FIC zones in on companies’ geological footprints to combat money launderingCan the new NPA leader restore confidence in prosecutions?Thiti brings over 20 years of senior experience in the public sector, spanning trade and industry advisory, the justice cluster, national security and intelligence operations, and strategic management.He is currently deputy director-general for institutional development and support at the Department of Justice and Constitutional Development, a role he has held since April 2023.He served as head of The Office of Interception at the State Security Agency from 2020 and 2023, and held several senior roles within the agency between 2006 to 2018.-Moneyweb

Company News in Brief

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Namibian Sun 2026-05-21

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Company News in Brief

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Namibian Sun 2026-05-21

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