Business

By Lehlohonolo Lehana. The South African Reserve Bank’s Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 3.5% per annum. In a statement on Thursday afternoon (23 September) Reserve Bank governor Lesetja Kganyago said that the decision follows largely unchanged inflation expectations and even with continued…
Staff Reporter. French media company Groupe Canal+ has acquired additional shares in MultiChoice, taking it from 12% to more than 15%, it said in a shareholder statement on Thursday (23 September). Groupe Canal+ SA is a French film and TV studio and distributor which owns the Canal+ French TV channels.…
Staff Reporter. African Bank has confirmed that one of its appointed professional debt recovery partners, Debt-IN, was targeted by cybercriminals in April 2021. At the time, expert security advice concluded that there was no evidence that the ransomware attack had resulted in a data breach – however, Debt-IN is now…
Staff Reporter. The Competition Tribunal has given the green light to the acquisition of Burger King South Africa (BKSA) by a private equity fund. Licence owner, Grand Parade Investments, can now move ahead with the disposal of the brand to pan-African private equity firm Emerging Capital Partners (ECP) – pending…
By Lehlohonolo Lehana. Fitch Ratings says that South Africa’s economic prospects are improving, thanks to a better than expected financial performance in the second quarter – but it warns that crucial social and political issues remain. Fitch said in a note on Tuesday (21 September), that a robust economic performance…
By Lehlohonolo Lehana. Mid-month data from the Central Energy Fund (CEF) shows that fuel prices could decline in October, bringing welcome relief for motorists. The data made available by the CEF to 16 September shows an over-recovery in both petrol and diesel prices, pointing to a possible drop of between…
Staff Reporter. South Africans living abroad should be aware of the seriousness of the South African Revenue Service (SARS) dealing with non-compliance, says specialist tax advisory Tax Consulting SA. "Provided that you are working abroad and have not ceased your tax residency, while not filing tax returns or declaring your…
Staff Reporter. Friday 24 September is Heritage Day, and for many South Africans, this is an appropriate time to reflect on the assets that they’ve built up over years, and possibly generations. In these uncertain times, it’s important to re-evaluate the value of your assets, and to determine how best…
Staff Reporter. South African Airways will need a more modern fleet to be competitive on routes outside its home continent following the Covid-19 crisis, according to interim Chief Executive Officer Thomas Kgokolo. The state-owned airline used to generate revenue on trips to cities such as London and Frankfurt, but its…
Staff Reporter. FirstRand Ltd, Africa’s biggest bank by market value, is ending its funding of new coal-fired power stations immediately and will halt the financing of new projects to mine the fuel over the next five years. The Johannesburg-based lender joins its peer Nedbank Group Ltd in making such commitments…
Business Reporter. Businesses in need of funding can register on the Telkom website while South Africans can also use this online portal to make their pledges. South Africa recently witnessed civil unrest that led to the destruction of infrastructure, looting, and violence that severely impacted many small and medium businesses…
Staff Reporter. Dozens of companies appealed to UK prime minister Boris Johnson to ease restrictions on travel from southern Africa that are hampering trade. The limits on movement are jeopardising the competitive advantage the UK has, which stem from its historical, cultural and economic links with Africa, the businesses said…
By Lehlohonolo Lehana. The Financial Sector Conduct Authority (FSCA) has imposed a R50 million administrative penalty on Viceroy Research and its partners for peddling false and misleading information about Capitec Bank in 2018. The penalty, said the authority in a statement on Wednesday, was imposed jointly and severally payable by…
By Lehlohonolo Lehana. Reserve Bank governor Lesetja Kganyago says South Africa should adopt an inflation ‘point target’ of around 3% or 4% with a margin of error on either side, instead of the 3% to 6% target range used currently. In a public lecture at Stellenbosch University on Tuesday, Kganyago…
Staff Reporter. The Central Energy Fund (CEF) has signed a memorandum of understanding with chemicals and energy giant, Sasol. The MOU is aimed at securing future gas supply options and infrastructure critical to the gas market. The agreement comes at least two months after the CEF announced that its subsidiary,…
By Lehlohonolo Lehana. The South African economy recorded its fourth consecutive quarter of growth, expanding by 1.2% in the second quarter of 2021. This followed a revised 1.0% rise in the first quarter of the year. The transport, storage and communication industry increased by 6.9% in the second quarter and…
Staff Reporter. South Africa’s consumer confidence improved slightly in the third quarter from the three months prior, a survey showed on Monday, helped by pent-up demand for big-ticket purchases such as cars and electronic appliances after vaccination drives. The consumer confidence index (CCI), sponsored by First National Bank (FNB) and…
By Lehlohonolo Lehana. The Public Investment Corporation, Steinhoff International Holdings N.V. (SIHNV) and Steinhoff International Holdings Proprietary Limited (SIHPL) –together referred to as Steinhoff – have entered into a settlement agreement to support the implementation of the Steinhoff global settlement. In a statement, the Public Investment Corporation (PIC) said the…
By Lehlohonolo Lehana. Eskom said that the Covid-19 pandemic negatively impacted its financial performance for the period ended March 2021, with sales volumes down 6.7%. It reduced its gross debt by R81.9 billion – a 16.9% reduction – to an outstanding debt of R401.8 billion. The organisation’s debt remained unsustainable,…
Business Reporter. Royal Bafokeng Holdings is buying a stake of almost 7% in Dis-Chem from the Saltzman family, who founded the pharmaceutical retailer. Dis-Chem was founded in 1978 by pharmacists Ivan and Lynette Saltzman, who are lowering their shareholding in the group from above 50% to around 31% through a…
Business Reporter. Month-end data from the Central Energy Fund (CEF) shows an over-recovery in fuel price adjustments, which points to a slight drop in prices at the pumps next week. The CEF data shows an over-recovery of between 11 and 15 cents per litre and petrol and 24 cents per…
By Lehlohonolo Lehana. Woolworths on Thursday (26 August) reported financial results for the 52 weeks ended 27 June 2021, showing a 9.1% increase in turnover to R78.8 billion. The group highlighted a 'strong operational and financial performance', notwithstanding the ongoing impacts of Covid-19 over the year, resuming a dividend payout…
By Lehlohonolo Lehana. South African Airways will resume flights on 23 September, more than 15 months after it was grounded by Covid-19 and business rescue. The national carrier said that voyager bookings and travel credit voucher redemption will be available from 6 September 2021. The airline will initially operate flights…
Staff Reporter. Woolworths chief executive for South Africa, Zyda Rylands, will retire from the role from 30 September 2021, the group said on Monday (23 August). While Rylands announced her early retirement from the leadership position, at the board’s request, she has agreed to stay on at the company until…
By Lehlohonolo Lehana. As of Friday, 20 August, individuals 18 years and older can book a Covid-19 vaccination at their nearest participating Clicks Pharmacy through the group’s new online booking portal. Before booking an appointment on the Clicks online portal, eligible individuals first need to register on the Department of…
Business Reporter. Image Supplied. The Coega Development Corporation (CDC) plans to establish a unit to drive sustainable growth of the Coega Special Economic Zone (SEZ) and external services on the infrastructure delivery programmes, which include operations in the rest of the African continent. As a player with a global outlook,…
Staff Reporter. Standard Bank has started constructing in-store branches in select Pick n Pay outlets as part of a new partnership between the two companies. Pick n Pay said that the branches will initially be available in a few stores across the Western Cape and Gauteng A number of services…
Staff Reporter. @Istock. Statistics South Africa published its Consumer Price Index (CPI) for July 2021, with inflation edging lower to 4.6% in July from 4.9% in June and 5.2% in May. In July, the monthly increase in the consumer price index (CPI) was 1%, the highest monthly jump since July…
Business Reporter. In a highly unusual development, the JSE remained closed by midday on Wednesday. Significantly high trading volumes yesterday, 17 August 2021, due to large corporate actions, including a record day of value traded in Equities, trading R145 billion (vs R71 billion in December 2017) has resulted in the…
Staff Reporter. Levi Strauss & Co. South Africa today announced that Woolworths will now feature an exciting range of Levi's® from the world's leading denim brand. This is a great opportunity for the iconic brand to partner with one of SA's leading retailers and help them expand their casual clothing…
By Lehlohonolo Lehana. UAE-based airline Emirates has announced a new agreement with regional airline Airlink as part of its ongoing expansion into South Africa. The deal will give travellers to and from South Africa access to more than 40 domestic and regional destinations in Africa, Emirates said. Emirates resumed its…
Staff Reporter. Mid-month data from the Central Energy Fund points to another petrol price increase in September, however, the price of diesel is forecast to come down. The CEF data shows a slight under-recovery for both petrol grades, pointing to a 2 to 7 cents per litre hike, while diesel…
Staff Reporter. Image Supplied. Sanlam says it paid R4.75 billion in total claims in 2020, with R3.97 billion for death and funeral claims; R398.9 million for disability, loss of income and impairment claims; and R386 million for severe illness and injury claims. Petrie Marx, Product Actuary at Sanlam Individual Life,…
Staff Reporter. Eskom has welcomed the amendments to section 2 of the Electricity Regulation Act, which it says will assist in creating a stable electricity supply for South Africa. Mineral resources and energy minister Gwede Mantashe gazetted the amendments on Thursday (12 August), allowing individuals and businesses to install up…
Staff Reporter. Sanlam and MTN Group on Thursday (12 August) announced a strategic alliance to distribute Sanlam Group insurance and investment products across Africa, further developing MTN’s mobile financial services business. The alliance, the operator said in a statement, will build a digital insurance and investment business, which will be…
Staff Reporter. Quick service restaurant KFC South Africa, has launched Chat Commerce – a chat-ordering channel, which allows customers to place and pay for an order via WhatsApp. The fast-food chicken chain said its platform is 100% automated and leverages natural language processing. "As a consumer-led organisation, we understand the…
By Lehlohonolo Lehana. @Moneyweb. National Treasury has warned members of retirement funds not to withdraw their funds, unless retiring, resigning or retrenched from work, as the funds are legally not empowered to allow pre-retirement withdrawals, until the law is enacted. Giving more details on the approach and planned timelines concerning…
By Lehlohonolo Lehana. Eskom is in talks to raise about R33 billion from at least five development finance institutions to help fund its partial exit from coal-fired power generation. The money would be used to help the company re-purpose coal power plants into sites that could produce renewable energy, gas-fired…
Staff Reporter. File Photo. Telkom has appointed Serame Taukobong as group chief executive designate. The telecommunications group said that Taukobong’s appointment will take effect from 1 October 2021. He will assume the group chief executive role after Sipho Maseko’s official exit on 30 June 2022. Taukobong is a member of…
By Lehlohonolo Lehana. Telkom says that active mobile customers on its network increased 36.3% year on year to 16.1 million. It said in a trading update for the quarter ended June 2021, that mobile data revenue grew 11.1% supported by growth in mobile broadband customers – up 30.9% to 10.5…
Staff Reporter. "Neuralink is developing ultra high bandwidth brain-machine interfaces to connect humans and computers" – we can read on the company’s website. Billionaire entrepreneur Elon Musk’s brain-chip start-up, Neuralink, has raised US$205-million (R3-billion) in a funding round led by Dubai-based venture capital firm Vy Capital, with participation from Google…
By Lehlohonolo Lehana. Discovery Health offices in Sandton, Johannesburg. Picture: Gallo Images. Discovery Life says that being vaccinated against Covid-19 is now an additional consideration in determining life insurance premiums and benefits for new clients. "Clients with new polices who indicate that they are unwilling to be vaccinated may, unfortunately,…
By Lehlohonolo Lehana. Eskom chief executive Andre de Ruyter laid out a funding plan to help the company, which generates the bulk of South Africa’s power from coal, transition away from the use of the dirtiest fossil fuel. De Ruyter said the company is proposing a multi-lender loan facility from…
Staff Reporter. The end of month data from the Central Energy Fund points to a sizeable increase in petrol and diesel prices for August. The group’s data shows an under-recovery of between 76 and 80 cents per litre for petrol, and around 47 cents per litre for diesel. Petrol 95: …
By Lehlohonolo Lehana. Capitec Bank chief executive officer Gerrie Fourie says the bank aims to fill around 300 positions over the next few months. At a time when many companies are shedding jobs in the wake of the Covid-19 pandemic and incessant low economic growth, Capitec is making room for…
By Lehlohonolo Lehana. South Africa’s week of unrest earlier in July could shave as much as 0.7% off the country’s headline GDP growth in 2021, impact consumer spending, and slow the pace of economic recovery, says S&P Ratings. The credit ratings firm said in a research note on Monday (26…
Staff Reporter. Anglo American Platinum (Amplats) declared a record interim dividend as higher platinum group metal (PGM) prices combined with strong operational performances on mining and refining. Amplats, which is an Anglo American subsidiary and one of the world’s leading PGM producers, declared a number of financial records for the…
By Lehlohonolo Lehana. Tiger Brands is recalling 20-million canned vegetable products at a cost of between R500m and R650m, over safety concerns due to potentially defective cans. Shares in Africa’s biggest food producer fell as much as 6% before pulling back slightly to trade 4% lower at R194.81 as at…
Staff Reporter. Mango Airlines, the low-cost arm of state-owned South African Airways (SAA), will be placed into business rescue, says SAA interim chief executive Thomas Kgokolo. Speaking to ENCA on Monday, Kgokolo said that the decision was taken by Mango’s board and the government, adding that consultation with labour groups…
By Lehlohonolo Lehana. Telkom group chief executive officer Sipho Maseko will step down on 30 June 2022. In a shareholder statement on Friday morning (23 July), the telecommunications group said that the process to appoint a successor is well underway and a designated group chief executive officer will be announced…
By Lehlohonolo Lehana. The South African Reserve Bank’s Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 3.5% per annum. The decision was unanimous. In a statement on Thursday afternoon (22 July) Reserve Bank governor Lesetja Kganyago said that despite steady improvements in vaccination rates, stronger…
By Lehlohonolo Lehana. Pick n Pay group chief executive Pieter Boone has called for president Cyril Ramaphosa to lift the country’s restrictions on the sale of alcohol. Boone said that the easing of restrictions will be especially beneficial to those businesses that have been severely impacted by recent looting and…
Staff Reporter. Ratings agency Moody’s has downgraded five of South Africa’s largest metropolitan municipalities, citing concerns around liquidity and finances. In a notice this past weekend, Moody’s said that the affected municipalities include: The City of Ekurhuleni; The City of Cape Town; Nelson Mandela Metropolitan Municipality; The City of Johannesburg;…
Staff Reporter. With all the disruptions caused by the widespread civil unrest across our country, many banks have been forced to close their branches and Cash in Transit services have been suspended impacting ATMs nationally. From a banking perspective there has never been a better time to switch to online…
Staff Reporter. The Shoprite group says that some of its stores have been impacted by looting and violence in parts of Gauteng and KZN, but that outlets in other parts of the country are continuing to operate as normal. In a statement on Thursday (15 July) the group, which owns…
By Lehlohonolo Lehana. As South Africa begins to pick up the pieces in the wake of civil unrest and public looting that has gripped Gauteng and KwaZulu-Natal over the past week, investors will be tracking the aftermath and the government’s response on how it intends to get the economy back…
Staff Reporter. Pick n Pay says that some of its stores have been impacted by looting and violence in parts of Gauteng and KZN, but that outlets in other parts of the country are continuing to operate as normal. However, in areas that have been hit by the looting, these…
Staff Reporter. Nedbank has joined forces with Amazon Web Services (AWS) to provide free cloud computing skills development and job training to unemployed youth through the AWS re/Start programme. AWS re/Start is a free, 12-week training programme, covering fundamental AWS Cloud and practical career skills. Through scenario-based exercises, hands-on labs,…
Staff Reporter. The Department of Energy has published the latest fuel price adjustments for July 2021, showing a hike in prices across the board. This is how fuel prices will change on Wednesday, 7 July 2021: Petrol 95: increase of 26 cents per litre; Petrol 93: increase of 29 cents…
By Lehlohonolo Lehana. Airline operator Comair says it is temporarily suspending all scheduled kulula.com and British Airways flights for three weeks. This follows the announcement by president Cyril Ramaphosa of a move to an adjusted Level 4 lockdown and the prohibition on all non-essential travel in and out of Gauteng,…
By Lehlohonolo Lehana. Africa’s oldest central bank celebrates its centenary just as it started – steering South Africa through an economic crisis. Born out of a banking crisis caused by unusual financial and monetary conditions during World War I, the South African Reserve Bank opened its doors on 30 June…
Staff Reporter. Motorists should prepare themselves to pay more at the pumps in July, with month-end data from the Central Energy Fund (CEF) showing a sizeable under-recovery in fuel prices. The CEF data shows an under-recovery for all grades of petrol and diesel, pointing to an increase of between 17…
By Lehlohonolo Lehana. As part of its continued commitment to South Africa’s youth, MultiChoice Group has extended its partnership with the Youth Employment Service (YES) to assist with the recruitment and training of 300 learners. Started by President Cyril Ramaphosa three years ago, the YES initiative calls on business to…
Staff Reporter. The prospect of a harder lockdown in South Africa could see it lose out on potential Northern hemisphere travel and tourism in the coming weeks – while international travel suspensions and restrictions remain in place as the country gets hit by a third wave of infections. The latest…
By Lehlohonolo Lehana. Annual headline inflation climbed above the 4.5% midpoint of the South African Reserve Bank’s monetary policy target range, accelerating to 5.2% in May from 4.4% in April, data from StatsSA shows. This is the highest reading since November 2018 when the rate was also 5.2%, the stats…
Staff Reporter. Naspers reported a 24% rise in profit for the year that ended 31 March, boosted primarily by the performance of its investment in China’s Tencent Holdings, the company said on Monday. Africa’s biggest company by market capitalisation reported core headline earnings per share of US$8.14, up from $6.56…
By Lehlohonolo Lehana. Caption:Vodacom CEO Shameel Joosub. The upcoming Trialogue Business in Society Conference focuses on post-pandemic solutions for society. At the G7 Summit that has just taken place in the United Kingdom, the UK’s Prime Minister, Boris Johnson, expressed the need for nations to ‘build back better’ after the…
Staff Reporter. Mid-month data from the Central Energy Fund points to another small drop in petrol prices in July – though diesel vehicle owners can expect a further hike. The CEF data shows an over-recovery for both 93 and 95 petrol, with prices expected to drop between 3 and 6…
Staff Reporter. Retailer The Foschini Group (TFG) on Thursday reported an operating loss of R719.2 million for the year ended March 2021, hit hard by the impact of the Covid-19 pandemic and resulting lockdowns in the various territories in which it operates. This was down from an operating profit of…
Staff Reporter. Multichoice Group has reported a boost in earnings for the year ended March 2021, growing profit to over R10 billion and adding 500,000 subscribers in South Africa. The group published its full year results on Thursday (10 June), showing a 4% increase in revenue to R53.34 billion from…
Staff Reporter. The Western Cape government has welcomed the European Commission’s registration of Rooibos in its lists of Protected Designations of Origin (PDO) and Protected Geographical Indication (PGI). According to a statement released by the EU delegation to South Africa, the country’s favourite tea is the first African food to…
Staff Reporter. The Southern African Venture Capital and Private Equity Association (SAVCA) says the Competition Commission’s decision to block a major transaction due to BEE concerns will set off alarm bells for future investors. Last week, the commission formally blocked pan-African private equity firm Emerging Capital Partners (ECP) from purchasing…
By Lehlohonolo Lehana. Huhtamaki, a global key advanced manufacturer of sustainable packaging solutions, is setting up a new manufacturing unit in KwaZulu-Natal in South Africa to serve its existing and new egg packaging customers in the KwaZulu-Natal area with a broad range of locally produced packaging solutions. The new facility…
Staff Reporter. South Africa’s main stock gauge climbed for a fourth day, rising 0.5% by 09h46 in Johannesburg, as gains by iron ore producers, Richemont and banks countered weakness in gold and platinum producers and local market giant Naspers. The key index is poised for its longest streak of monthly…
Staff Reporter. Motorists can expect good news at the pumps in June with the price of petrol set to decrease. However, other fuel users will pay more when the Department of Mineral Resources and Energy announces adjusted fuel price for June, the Automobile Association (AA) of South Africa said. The…
Staff Reporter. Grocery retailer Woolworths has announced plans to open its first standalone liquor store – WCellar. The first store will act as a standalone concept adjoining the food market of the Woolworths Nicolway branch in Bryanston, Johannesburg. The aim is to open another WCellar store in the Gauteng region,…
Staff Reporter. South Africa’s cash-strapped state companies may struggle to refinance their debts, requiring the government to provide support, finance minister Tito Mboweni said. The 10 most-indebted state firms have an estimated R289.9 billion ($21 billion) in loans maturing by the end of March 2025, Mboweni said in a written…
Staff Reporter. People are feeling more positive about dealing with the pandemic now that more healthcare workers and senior citizens are being vaccinated – but financial caution is still the name of the game, warns personal finance website Just Money. "Keep tabs on your personal information when getting your jabs,"…
Staff Reporter. Telecoms operator Telkom on Monday (24 May) published its financial results for the year ended March 2021, showing a recovery in full-year headline earnings, spearheaded by its mobile division. Group revenue grew marginally by 0.4% to R43.22 billion in a challenging operating environment. The group’s mobile business was…
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 (20 May) Reserve Bank governor Lesetja Kganyago said that the decision was unanimous, given a 'balanced' economic outlook and inflation forecast. Speaking…
By Lehlohonolo Lehana. Liberty's claim statistics for 2020 show a significant increase in retrenchment and mortality claims following the beginning of the COVID-19 pandemic and hard lockdown in April, which had a substantial impact on the country's economy. In 2020 Liberty paid out R6.34 billion in claims to its individual…
Staff Reporter. Ratings agency Moody’s says that low economic growth and rising debt burden in South Africa could see socioeconomic tension intensify and impede policy reforms. In a research note published on Tuesday (18 May), the agency said that the country’s credit profile was balanced, with its low level of…
By Lehlohonolo Lehana. Heineken, the world’s second-largest brewer, is in talks to acquire South African wine and spirits maker, Distell Group. Distell, the owner of brands including Amarula, Savanna, Hunter’s Dry, Durbanville Hills and Nederburg, said in a statement on Tuesday (18 May), that it has been approached by Heineken…
Staff Reporter. JSE-listed technology company Altron on Monday (17 May) announced its financial results for the year ended February 2021, showing an 18% decline in headline earnings per share to 31 cents per share. Earnings before interest tax and depreciation (EBITDA) was down 8% to R1 billion, and revenue was…
Staff Reporter. Mid-month data from the Central Energy Fund points to a marginal petrol price hike in June, while diesel could see a more sizeable increase. The CEF data shows an under-recovery for both 93 and 95 petrol, with prices expected to rise no more than a few cents per…
Staff Reporter. The South African Reserve Bank (SARB) is anticipated to keep interest rates at historic lows in May, data from a new Reuters poll shows. South Africa’s Monetary Policy Committee (MPC) will meet next week, with a rates announcement expected on Thursday (20 May). All 25 economists surveyed by…
Staff Reporter. In the wake of the pandemic, many face the reality of their meticulous credit records being negatively affected by the whirlwind of last year’s economic instability. Landlords and tenants alike have been affected due to income loss, leading to missed bond payments, downsizing and, unfortunate, if unavoidable evictions.…
Staff Reporter. The Shoprite Group has opened applications for two of its bursary programme for the 2022 academic year. The bursaries offer students in the fields of pharmacy and retail business management an unparalleled opportunity to further their studies. Students will then be given a chance to then go on…
Staff Reporter. Moody’s Investors Service skipped its scheduled review of the country’s sovereign credit rating on Friday, but issued a note indicating that "no ratings were updated for" South Africa. The could mean that the agency needs more time to assess South Africa’s economic prospects amid the Covid-19 vaccine roll-out…
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…
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