Business

Staff Reporter. Retail pharmacy Clicks says it plans to acquire the retail pharmacy business of Pick n Pay, including 25 in-store pharmacies which will be rebranded to Clicks. Clicks is the largest retail pharmacy network in the country and the acquisition will increase its national presence to 632 pharmacies. In…
Staff Reporter. Credit rating agencies Moody’s Investor Services and S&P Global Ratings are expected to release their rating reviews for South Africa on 7 May and 21 May respectively – with Nedbank analysts warning that further downgrades are likely. In a research note published this week, Nedbank said that Fitch…
Staff Reporter. Many of us have experienced that sinking feeling when we realise we've been conned. If you're lucky, you may have lost only a battered old wallet containing a few banknotes. Others may not be so fortunate. Media regularly carry reports of highly experienced business leaders who've lost substantial…
Staff Reporter. Fuel prices have made a turnaround from last month, with across-the-board price reductions in all fuel types expected when the Department of Mineral Resources and Energy announces adjustments for May. This is according to the Automobile Association (AA), commenting on unaudited month-end fuel price data released by the…
By Lehlohonolo Lehana. The most important part of understanding how Public Relations (PR) can help your business and brand is to get educated on the role PR plays and where it fits into your marketing plan. Understanding marketing, the different tactics and what each delivers, must inform your strategy so…
Staff Reporter. SA Express to remain in provisional liquidation until 28 July 2021. The Pretoria High Court has granted another extension after Numsa brought an application opposing final liquidation. The airline has been mired in turbulence over the past year with the liquidation cloud hanging over its operations. Meanwhile South…
By Lehlohonolo Lehana. While South Africa’s economy is seeing a rebound, post-Covid-19 lockdown, it is lagging behind other comparable countries, says Finance minister Tito Mboweni. Speaking at the Rotary Africa Centennial Conference on Sunday (25 April), Mboweni said South Africa’s real GDP per capita stopped growing in 2007 and has…
Staff Reporter. The South African Reserve Bank (SARB) will introduce the Authenticated Collections (AC)/DebiCheck project from 1 May 2021 as part of its modernisation of the national payment system (NPS). This project, which is a first of its kind, seeks to address the increasing levels of abuse in the debit…
Staff Reporter. State-owned domestic airline Mango is facing financial uncertainty, raising questions about how much longer it can stay in the air. A delay in government funding means that the airline is set to stop operating from 1 May, and enter into business rescue. Travel agencies have now begun advising…
Staff Reporter. MTN and a consortium led by Vodafone have bid for telecommunications licenses in Ethiopia, as wireless service providers look to tap the last remaining large market in the world. Ethiopia will take a few days to review the technical offer and then open the financial bids, said Brook…
Staff Reporter. State-owned domestic airline Mango says that it cannot pay staff salaries, raising questions about how much longer it can stay in the air. The airline’s financial issues have been exacerbated by delayed funding from government, with the Department of Public Enterprises meeting with Mango’s board this weekend about…
Staff Reporter. Pharmacy group Clicks said Thursday that it plans to roll out 40 new stores in the coming financial year as a part of a R745 million capital investment programme. The listed company said it is also working closely with government departments and organisations involved in the national vaccine …
Staff Reporter. Photo Supplied. The Distell Group has published a voluntary performance update for the nine months ended 31 March 2021, detailing how South Africa’s alcohol bans have impacted its operations. In a shareholder statement, Distell’s management said it elected to issue a performance update to provide provisional guidance to…
Staff Reporter. A snapshot survey by personal finance website JustMoney has revealed that the majority of respondents are stressed by debt. A positive finding, however, is that people are shopping around for the best interest rates, and there's a growing awareness of debt counselling and other debt solutions. JustMoney Marketing…
By Lehlohonolo Lehana. Daniel Mminele is stepping down as CEO of Absa Group and Absa Bank at the end of April 30, 2021. Mminele’s departure brings to an end a stint that just lasted 15 months, after he took the job following being a South African Reserve Bank deputy governor.…
By Lehlohonolo Lehana. @AbsaGroup. Banking group Absa says it is in discussions with its chief executive Daniel Mminele on a ‘suitable separation arrangement’ as he steps away from the group. The bank’s announcement follows a report from BusinessDay on Tuesday that Mminele is set to step down due to disagreements…
Staff Reporter. South African financial markets are unlikely to be severely disrupted as global central banks normalise policy, and a balanced inflation outlook means domestic interest rates can stay low, Governor Lesetja Kganyago said. Kganyago told Reuters in an interview that even if capital outflows did materialise as other central…
Staff Reporter. Mid month data published by the Central Energy Fund points to yet another petrol price hike in May – though at lower levels recorded over the last few months. The CEF data shows an under-recovery for both 93 and 95 petrol, with prices expected to rise between one…
Staff Reporter. Image Supplied. The African Bank Group has announced the appointment of Kennedy Bungane as chief executive officer, and as an executive director of the bank and holding company African Bank Holdings Limited. His appointment, effective 14 April 2021, follows approval from the Prudential Authority, it said. "Kennedy brings…
Staff Reporter. Technology services company EOH on Wednesday (14 April) published its unaudited results for the six months ended January 2021, showing an operating profit of R59 million, up from a prior R915 million loss. Revenue, however, declined 29% to R4.376 billion from R6.194 billion before. EOH chief executive officer,…
By Lehlohonolo Lehana. Capitec bank has declared an annual dividend of 1,600 cents ($1.10) per share on Tuesday, when it also reported a 27% decline in full-year profit. Capitec had already flagged in March that its profits for the year could drop by up to 29% as a result of…
Staff Reporter. There is no doubt that there are many benefits to buying your own wheels. For many people, it's the convenience of being able to travel whenever you want. And for some, a car is a necessity for work, or because public transport is not readily available. But what…
Staff Reporter. Pick n Pay published a trading and earnings update, with the group currently finalising its financial results for the 52 weeks ended 28 February 2021. The retail group said that it was happy with its financial performance in a ‘difficult year’, delivering turnover growth of 4.3% over the…
By Lehlohonolo Lehana. South Africa’s super wealthy individuals have recovered the losses suffered during the Covid-19 pandemic – with many finding themselves in a stronger position prior to the virus. Forbes has published its annual Billionaires List for 2021, tracking the wealth of the world’s richest people over the last…
Staff Reporter. Eskom has confirmed that it is involved in a contractual dispute with the South African arm of Oracle Corporation, which is contracted to provide a number of technical services to Eskom. Oracle first claimed it had been underpaid by an amount of approximately R7.3 billion, which underpayment is…
Staff Reporter. The Department of Energy has published the latest fuel price adjustments for April 2021, showing a massive increase at the pumps for motorists. The following changes will take effect from Wednesday, 3 March 2021: Petrol 95: increase of R1.00 per litre; Petrol 93: increase of 95 cents per…
By Sandy Carter, VP, Partners and Programs, Worldwide Public Sector, AWS. Helping startups succeed, from inception to IPO, has been an integral part of Amazon Web Services (AWS) since our beginning. Today, more startups build on AWS than any other cloud provider, and many of our customers and partners started…
Staff Reporter. The Independent Communications Authority of South Africa (Icasa) has announced new regulations aimed at promoting historically disadvantaged South Africans in the ICT sector. In a directive published on Wednesday (31 March), the regulator said that the purpose of these regulations is to promote equity ownership by historically disadvantaged…
By Lehlohonolo Lehana. Sanlam announced today that it would reboot its business to become a purpose-led organisation and brand, focused on giving millions of Africans the chance to live with financial confidence. In the next two to three years, the continent's largest non-banking financial services group plans to catalyse this…
Staff Reporter. The Automobile Association (AA) says it expects a further hefty hike in fuel prices in April, with 95 ULP heading into record territory when the Department of Mineral Resources and Energy makes the official adjustment next Wednesday (7 April). The additional 27 cents to the General Fuel Levy…
By Lehlohonolo Lehana. The Franchise Co., which has some of South Africa’s leading food brands in its stable, has set its sights on developing a whole new category of entrepreneurs by offering the country’s first franchised mobile restaurant. The travelling restaurant will give entrepreneurs an affordable opportunity to break into…
Staff Reporter. Nthabeleng Likotsi, the founder of cooperative Young Women in Business Network (YWBN), will be the first woman to own a mutual bank in SA after being approved by the SA Reserve Bank (SARB). Born and bred in Botshabelo, Free State, from a family of entrepreneurs. Her parents have…
By Lehlohonolo Lehana. The South African Reserve Bank’s Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 3.5%. In a statement on Thursday afternoon (25 March) Reserve Bank governor Lesetja Kganyago said the decision to hold the rate was unanimous among MPC members. However, he said…
Staff Reporter. Struggling black-owned restaurants, catering and accommodation establishments that have been hit hard by the devastating impact of COVID-19, now have an opportunity to get back on the road to success with the Sekela Hospitality Support Programme. In an effort to bring some relief and lift the spirits of…
By Lehlohonolo Lehana. South African Airways (SAA) administrators are preparing to wrap up work on the dormant state airline after more than 15 months, yet questions over its future viability remain as the Covid-19 crisis depresses demand. SAA is close to being "both solvent and liquid," with remaining issues including…
Staff Reporter. A year on from the start of Covid-19, food and basic household items are becoming increasingly expensive in South Africa. Groceries and non-alcoholic beverages are some of the biggest contributors to inflation and, worryingly, there have even been steep hikes in staples like bread, rice, fruit and vegetables…
Staff Reporter. With small business being touted as the genesis of the recovery of the local economy post COVID-19 setbacks, Glencore Ferroalloys has stepped up its support of local entrepreneurs through the roll out of Enterprise and Supplier Development (ESD) Hubs across major mining communities in South Africa. Staying true…
Staff Reporter. Digital retail bank TymeBank continued to acquire new customers in the second half of 2020, onboarding 2.66 million customers at the end of December 2020, with approximately 50% of customers actively using their accounts. This is according to the financial report of Patrice Motsepe’s African Rainbow Capital Investments…
Staff Reporter. Financial services group Nedbank said Wednesday (17 March) that it delivered an improved financial performance in the second half of 2020. Headline earnings for the year ended December 2020 declined by 56.5%, to R5.4 billion, compared to a decline of 69.2% in the first half. Headline earnings for…
Staff Reporter. South Africa’s private sector must be allowed to secure vaccines on their own to speed-up the slow roll out of Covid-19 shots, according to the head of the continent’s biggest grocer. Shoprite "would certainly purchase for our employees to get those front-line people vaccinated as quickly as possible,"…
Staff Reporter. Mid-month data from the Central Energy Fund points to a big hike in fuel prices in April, following sizeable increases in the first three months of 2021. The CEF data shows an under-recovery across the board, with prices expected to rise around 90 cents per litre for petrol,…
Staff Reporter. The South African Mint, an agency of the South African Reserve Bank, has announced the circulation of a new R2 coin. "The wait is over! We are happy to announce there is a new R2 circulation coin you will soon be seeing in your change. The final edition…
Staff Reporter. Unilever announced it will adopt a clearer mission surrounding inclusive beauty standards across all its beauty and personal care brands' packaging and advertising globally. This is part of the launch of the multinational's Positive Beauty vision and strategy, and in response to making products that cater to all…
Staff Reporter. Statistics South Africa’s latest gross domestic product (GDP) data shows that the country’s weaker economy continues to be outpaced by population growth. On Tuesday (9 March), the statistics body published its GDP numbers for the fourth quarter of 2020, showing that South Africa’s economy is projected to have…
Staff Reporter. Photo Credit:123RF/Anyaberkut. UAE-based airline Emirates has announced that flights from South Africa will remain suspended until 20 March 2021. This is in line with government directives that restrict the entry of travellers originating from South Africa into the UAE, the airline said in a notice published on its…
By Lehlohonolo Lehana. Hurun Report has published its annual rich list, ranking over 3,200 billionaires from 68 countries – including South Africa. Despite the disruption caused by Covid-19, the past year has seen the biggest increase in wealth of the last decade, the group noted, featuring a stock markets boom…
Staff Reporter. The Department of Energy has published the official fuel price adjustments for March, showing a big hike for both petrol and diesel. The following changes will take effect from Wednesday, 3 March 2021: Petrol 95: increase of 65 cents per litre; Petrol 93: increase of 65 cents per…
By Lehlohonolo Lehana. For many of us, Finance Minister Tito Mboweni’s budget speech this week offered hope that we could be optimistic about our immediate financial futures. The rand and South African bonds rallied thanks to some increased investor confidence, and Mboweni has pledged to try and reduce South Africa’s…
By Lehlohonolo Lehana. Finance Minister Tito Mboweni has forecast growth of 3.3% this year on hopes that a well-managed vaccination program, to fight the COVID-19 pandemic, will help lift the economy. It should be said of course that this positive sounding figure comes on the back of last year's GDP…
Staff Reporter. Photo Credit: Kulula.com South African airline Kulula says it will resume domestic operations at Lanseria International Airport from 1 April 2021. The group will service its Durban and Cape Town routes with a limited schedule, adding additional frequencies over the next couple of months. Customers are now able…
Staff Reporter. The start of the year is a great chance to reboot your personal finances – and that starts with a renegotiation of your insurance policies. Insurers are completely open to this, yet many consumers don't know it's an option. "A consumer can renegotiate their short-term insurance policy as…
Staff Reporter. Photo Credit:123RF/Anyaberkut. Middle-Eastern airline Qatar Airways has announced plans to expand its flight operations in South Africa. The group said that by March 2021 it plans to operate 28 weekly flights from the country, including: Cape Town will see an increase to 7 weekly flights; Durban will see…
Staff Reporter. The North Gauteng High Court ruled that Eskom Holdings SOC Ltd can recover R10 billion ($681 million) from consumers, enabling the state power utility to raise electricity tariffs by 16%. The ruling comes after Eskom and the National Energy Regulator of South Africa reached an agreement on the…
Staff Reporter. Top 5 Tips for Renting a Container Renting containers has increased in popularity as businesses and individuals discover their value as a versatile storage solution with a multitude of functions and innovative uses. If you have decided to rent a container, but find yourself wondering where to start,…
Staff Reporter. Nestle SA is adding its first vegan milk chocolate to its products as the world’s biggest food company expands beyond meat alternatives. The Swiss food giant will start offering plant-based KitKat bars this year, called KitKat V, according to Alexander von Maillot, head of Nestle’s confectionery business. The…
Staff Reporter. Photo Credit: Gallo Images. Government has identified three equity partners for South African Airways (SAA) and will make a decision on which one to pick in the next month or so, says Public Enterprises minister Pravin Gordhan. In an interview with Bloomberg, Gordhan said that the interim SAA…
Staff Reporter. Buying a home is probably one of the most important - and expensive - purchases many people will make. It usually requires a long-term financial commitment in the form of a bond to cover the cost of the home. While most buyers have an idea of how much…
Staff Reporter. Mid-month data from the Central Energy Fund points to another hike in fuel prices in March, following sizeable increases in the first two months of 2021. The CEF data shows an under-recovery in prices across the board, expected to rise around 55 cents per litre for petrol, and…
Staff Reporter. For all of South Africa’s economic struggles, the rand looks set to mark its 60th birthday holding fast as the weather vane of emerging-market confidence. The currency — once a global pariah — punches above its weight. The latest Bank of International Settlements global foreign-exchange report, released in…
Staff Reporter. A year in, the impact of COVID-19 is not only being felt by couples physically and emotionally, but it is also exposing incompatibility in personal finances. There’s plenty of fuel available for a money fight. Living and working in close proximity becomes even harder if your spouse has…
Staff Reporter. Credit ratings agency Moody’s has warned of a number of financial issues facing South Africa in the run-up to finance minister Tito Mboweni’s budget speech later this month. In November 2020, Moody’s cut the nation’s foreign- and local-currency ratings to Ba2, two levels below investment grade, from Ba1.…
Staff Reporter. Having long-lasting symptoms after Covid-19 is dubbed "long Covid" or "long-haul Covid". Employers should be taking note of how this will affect worker productivity and medical incapacity in the workplace, say Anton Engelbrecht, Alexander Forbes Senior Health Risk Consultant and Myrna Sachs, Head of Alexander Forbes Health Management…
Staff Reporter. Coca-Cola Beverages South Africa (CCBSA) has increased its Broad-based Black Economic Empowerment (B-BBEE) ownership to a revised 20% target, with a significant worker ownership component. "This updated agreement will result in employees increasing their current holding of around 5% in CCBSA to an approximate 15% shareholding in CCBSA,"…
Staff Reporter. Mobile operator MTN said in a trading statement on Friday (5 February), that it anticipates strong earnings for the year ended December 2020. The group advised shareholders that headline earnings per share (HEPS) growth is expected to be between 50% and 70% (or 234 cents to 328 cents).…
Staff Reporter. A process is underway to appoint a permanent board for the Public Investment Corporation (PIC) following the departure of some board members. "The shareholder is working on the appointment of a permanent board. The PIC is stable and continues to deliver on its clients’ mandates, " the PIC…
Staff Reporter. Q4 2020 Debt Index: borrowing increased by 32% to supplement eroding incomes. Payment holidays and successive repo rate reductions provided South African consumers significant relief in 2020, but for those reliant on unsecured debt the respite has proved short lived. This is one of the findings from a…
Staff Reporter. Bus company Putco is set to retrench 214 staff members as a result of financial distress. Putco spokesperson Pride Anozie says restrictions to the passenger carrying capacity impacted its profit margin. "I think the rationale around the whole things is purely due to the pandemic itself, Covid-19, which…
Staff Reporter. Photo Credit:123RF/Anyaberkut. Emirates has suspended flights to and from South Africa until 28 February. Flights were meant to resume on Friday. The airline will share updates on South African flights in the upcoming weeks. In the meantime, the airline urged affected customers to contact their travel agent or…
Staff Reporter. The Gautrain Management Agency (GMA) has placed the procurement of its additional rolling stock and depot enhancement project on hold until further notice. The decision was taken in the light of the significant impact that the Covid-19 pandemic and the various lockdowns have had on passenger demand on…
Staff Reporter. Photo Credit: Gallo Images. The Department of Public Enterprises says that South African Airways (SAA) could exit administration at the end of March on the back of fresh funding and a possible equity partner. In a presentation parliament on Wednesday (3 February), the department said that the signing…
Staff Reporter. Banking group Absa has announced its new fee structure for 2021, following a full pricing review. The bank’s fee changes historically align with South Africa’s other big banks – Standard Bank and Nedbank – which would typically see price changes come into effect from 1 January of any…
Staff Reporter. The Department of Energy has published the latest fuel price adjustments for February, showing sizeable increases for all grades of petrol and diesel. The following changes will take effect from Wednesday, 3 February: Petrol 95: increase of 81 cents per litre; Petrol 93: increase of 81 cents per…
Staff Reporter. South Africa’s largest health club chain Virgin Active says that a move to adjusted level 3 lockdown restrictions at the end of December 2020, has led to lower usage rates and an increase in member terminations. The group’s holding company, Brait, said in a note on Monday (1…
Staff Reporter. By now the festive break is a faded memory and even some of your best-intentioned resolutions haven’t made it through January. Perhaps that’s why it’s best to wait until February – when you’re confronting life’s realities, not to mention the possibility of an extended Level 3 lockdown –…
Staff Reporter. Ster-Kinekor Theatres is entering voluntary business rescue, the group’s board announced on Friday (29 January), aiming to rehabilitate the company as it continues to suffer due to the Covid-19 pandemic and lockdown. The group said that up until February 2020, the business was profitable and highly cash generative,…
Staff Reporter. South Africa will grow even more dependent on imports for its fuel needs as the country’s refining sector faces an uncertain future, says Avhapfani Tshifularo, executive director of the South African Petroleum Industry Association (SAPIA). In an interview with S&P Global Platts, Tshifularo said all six of the…
Staff Reporter. Retail group Clicks says that it will be shutting down Musica in South Africa, after several years of decline. Clicks acquired the brand in 1992, where it was a leading entertainment brand in the country for many decades, Clicks said. However, despite a shift in more recent years…
By Lehlohonolo Lehana. Qatar Airways has signed an interline agreement with domestic airline Mango, further expanding its presence in South Africa as the largest international carrier to operate from the region. The agreement with Mango will provide passengers with seamless connectivity via Johannesburg and Cape Town to one international destination…
Staff Reporter. South Africa’s economy, which was struggling before the Covid-19 epidemic, is now reeling and the consequences are dire for consumers burdened with debt as well as salary cuts, retrenchments and businesses closing. Benay Sager, chairman of the National Debt Counsellors’ Association says that for many people in this…
Staff Reporter. Photo Credit: Pixabay. South African Breweries (SAB) says the ripple effect of South Africa’s third alcohol ban is being felt throughout its beer value chain, and that it is nearing its maximum storage capacity at its nine brewing facilities. The company said in a statement on Monday (25…
Staff Reporter. File Photo. African Bank has on Monday announced that Basani Maluleke has resigned as the group’s chief executive officer and as an executive director, to pursue other career opportunities. Maluleke will serve out her notice period until 30 April 2021, during which time she will be available to…
By Lehlohonolo Lehana. File Photo. The Monetary Policy Committee has decided to keep the repo rate unchanged at 3.5% per annum, Reserve Bank Governor, Lesetja Kganyago, has announced. Speaking during a virtual media briefing on Thursday, Kganyago said during the MPC meeting, two members of the committee preferred a 25…
Staff Reporter. Photo Credit: Pixabay. Heineken SA, owner of beer brands Amstel and Windhoek, has become the first major company to cut jobs as a result of SA’s third alcohol sales ban, which has stopped trade since late December. Europe’s biggest brewer, which is among SA’s main investors, said it…
Staff Reporter. File Photo. British Airways (operated by Comair) has introduced new booking options, giving customers the flexibility to change the dates and destination of a booking without any change fee. The airline’s book with confidence commitment allows customers to adapt to unforeseen circumstances as they need to. They can…
Staff Reporter. File Photo. Local headlines have made for sombre reading over the last week, and early indications are that things are likely to get worse before they get better. In a research note published on Monday (18 January), Stellenbosch University’s Bureau for Economic Research (BER) pointed to the country’s…
Staff Reporter. Photo Credit: Pixabay. SAB has cancelled a R2.5 billion capital investment in South Africa following government’s third ban on alcohol sales. This brings the brewer’s cancelled capital expenditure in the country to R5 billion since the first alcohol bans were introduced in March 2020. The cancelled investments relate…
Staff Reporter. Mid-month data from the Central Energy Fund (CEF) points to another large fuel hike for South African motorists in February, following a significant increase in January. The CEF data shows an under-recovery in prices across the board, expected to rise around 78 cents per litre for petrol, and…
By Lehlohonolo Lehana. Photo Credit:123RF/Anyaberkut. UAE-based airline Emirates says that it will temporarily suspend all flights to and from South Africa. The airline said in a statement on Thursday (14 January), that the suspension will run from Saturday (16 January) to 28 January 2021 due to operational reasons. It did…
Staff Reporter. Retail group Pick n Pay has announced that its chief executive officer Richard Brasher will retire, and will be succeeded by Pieter Boone. The changes take effect from 21 April 2021. Boone is a former chief operating officer of Metro AG, and a retailer with extensive international experience.…
Staff Reporter. While it has been a volatile year for many industries, the crypto economy is ending the year on a high note. The positive movement in the adoption of cryptocurrencies, regulatory discussions, and developments, as well as several large names in retail and institutional finance dipping into crypto ownership…
Staff Reporter. January can be a very long month for many South African families seeking to stretch December paycheques until the first payday of the New Year. Typically, this is because many companies pay their employees early in December, but this year making it to the end of January is…
Staff Reporter. The World Bank has published its Global Economic Prospects report, detailing how the Covid-19 pandemic has impacted the growth prospects of South Africa and other countries heading into 2021. One of the key findings of the report is how the pandemic has impacted per capita income, with many…
Staff Reporter. Photo Credit: Getty Images. South African-born Elon Musk is now the world’s richest person after Tesla’s shares surged 7.9% on Thursday (7 January). The climbing share price has boosted Musk past Amazon founder Jeff Bezos on the Bloomberg Billionaires Index, a ranking of the world’s 500 wealthiest people.…
Staff Reporter. The Department of Energy has announced the official fuel price adjustments that will come into effect on Wednesday, 6 January 2021. All grades of fuel will see prices increases this month, with petrol climbing between 40 cents and 43 cents per litre, and diesel increasing by 54 and…
Staff Reporter. Fuel prices are expected to significantly increase in January, month-end data from the Central Energy Fund shows. The data shows that petrol prices could be increasing by 39 and 43 cents per litre, while diesel prices could be up by between 54 and 55 cents per litre. According…
Staff Reporter. Discovery Health says funding has been set aside for its members to get the Covid-19 vaccine as it throws its weight behind the country's bid to source a cost-effective supplier. Timelines have not yet been confirmed as the medical insurance giant is in "extensive" negotiations with other private…
Staff Reporter. Photo Credit: Getty Images. British and European Union negotiators sealed a Brexit trade deal on Thursday, just a week before the United Kingdom finally leaves the orbit of the 27-nation bloc, its biggest trading partner. But unusually among trade deals, businesses will face more bureaucratic hurdles than they…
Staff Reporter. Fitch Ratings Agency has upgraded five South African banks Long-Term Ratings to AA+ with a stable outlook. The five banks are Absa, Investec, Nedbank, Standard Bank and FNB. This reflects an improvement in their creditworthiness relative to the best credits in the country. Debt ratings (where applicable) have…
Staff Reporter. After an exceptionally difficult year, consumers may be tempted to reward themselves this Christmas. Resisting the urge to go overboard and spending sensibly could mean a better 2021, especially given that there’s still a lot of economic uncertainty. Benay Sager, Chief Operating Officer at DebtBusters, South Africa’s leading…
Staff Reporter. Splashing out over the festive season as a reward for making it through 2020 might be tempting, but some restraint could ensure the Christmas cheer lasts into the New Year. According to the National Debt Counselling Association (NDCA), many South Africans’ festive season shopping sprees result in them…
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