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By Lehlohonolo Lehana. Starting a business and becoming your own boss is one of the most daring moves a person could make in their life. Now imagine quitting your very stable job, spending ever last cent of your savings and taking a leap of faith to become an entrepreneur –…
By Lehlohonolo Lehana. The South African Reserve Bank’s Monetary Policy Committee (MPC) has decided to raise the repo rate to 3.75% per annum. Reserve Bank governor Lesetja Kganyago said in a statement on Thursday afternoon, that the rate hike comes against a backdrop of higher inflation, and a host of…
By Jacob Mawela. Emeritus Professor Extraordinaire, Dr Reuel Khoza delivered the fourth edition of the Dr Sam Motsuenyane Annual Lecture at the University of Pretoria’s Aula auditorium in Hatfield on November 12, 2021. A series in recognition of the contributions the Winterveld-based white-haired sage and pioneer of Black South African…
By Lehlohonolo Lehana. Black Friday, traditionally the biggest shopping day of the year for many retailers, takes place on Friday 26 November. Shoppers who have continued working throughout the pandemic may be in search of luxury goods, while others will be on the lookout for household basics at bargain prices.…
By Lehlohonolo Lehana. Heineken agreed to buy South African wine and spirits maker Distell Group Holdings for 2.2 billion euros (R38.4 billion), creating a new regional group to compete with larger rival Anheuser-Busch InBev and spirits giant Diageo. The Dutch brewer made an offer of R180 a share that’s been…
By Lehlohonolo Lehana. Finance minister Enoch Godongwana has voiced his concern over the state of power utility Eskom, pointing to studies that show that there have been more power cuts than ever before under current chief executive, André de Ruyter. Godongwana told the Sunday Times that the current boss was…
By Lehlohonolo Lehana. Eskom CEO Andre de Ruyter says the power utility is on track to split its generation and transmission divisions by the end of the year, although some government and regulatory approvals are still pending. President Cyril Ramaphosa announced in 2019 that the debt-laden company would be split…
By Lehlohonolo Lehana. Banking Group Absa axes Sipho Pityana as lead independent director with immediate effect. In a statement late on Friday, the Absa board said: "Shareholders are informed that the Absa Group and Absa Bank boards have resolved that Sipho M Pityana will cease to be lead independent director…
By Lehlohonolo Lehana. Finance minister Enoch Godongwana tabled his maiden medium-term budget policy statement (MTBPS) on Thursday (11 November), reporting better than expected finances for South Africa – but against the bleak reality that the country has little room to manoeuvre in the budget. According to Godongwana, global markets are…
Business Reporter. South African Airways (SAA) says it is working Mango Airlines and its business rescue practitioner to resolve the challenges facing the low cost airline. This after reports suggested that SAA and Mango were at odds over the funding required to resuscitate Mango through business rescue. Mango Airlines is…
By Lehlohonolo Lehana. Finance minister Enoch Godongwana will deliver his maiden Medium Term Budget Policy Statement (MTBPS) at 14h00 on Thursday (11 November). Godongwana is largely expected to continue on his predecessor Tito Mboweni’s path towards fiscal consolidation and growth stimulation. Economists hope to see the new finance minister prioritise…
Business Reporter. The South African Revenue Service (SARS) collection rates have once again recorded positive growth,collecting a gross R1.55 trillion in the past year. Addressing Parliament on Tuesday, SARS Commissioner Edward Kieswetter that this comprised of a net of R1.25 trillion of the revenue estimate and that is R38 billion…
Business Reporter. MTN Group Ltd’s shares surged in Johannesburg after the wireless carrier edged closer to gaining a lucrative mobile-money license in Nigeria, more than two years after submitting an application to the authorities. The continent’s largest telecommunications company jumped as much as 19% and was up 10% at 3:35…
Staff Reporter. Amazon Web Services has completed its first operational solar project in South Africa. Located in the Northern Cape, the 10 megawatt (MW) solar project will supply renewable energy to AWS data centres and contribute to South Africa’s 2030 renewable energy goals, the group said in a statement on…
Business Reporter. Old Mutual’s private equity arm is in talks to buy Long4Life, the South African investment company founded by entrepreneur Brian Joffe, according to people familiar with the matter. The buyout firm has funds available that could go toward an acquisition of the Johannesburg-based group, said the people, who…
Business Reporter. The department of Mineral Resources and Energy (DMRE) has announced massive price increases for November, which will see fuel prices reach record highs across the board as of Wednesday. At midnight on Tuesday, the price of petrol will go up by R1,21 per litre, and R1,48 for diesel.…
By Lehlohonolo Lehana.. Transnet recorded its first annual loss in more than a decade as revenues plummeted due the impact of the Covid-19 pandemic as well as operational issues, the state-owned logistics company said. The "trying financial year" resulted in an R8.4bn loss down from a R2.9bn profit in the…
By Lehlohonolo Lehana. The Public Investment Corporation (PIC) has fired CFO Matshepo More after she was suspended with full pay. More was "subjected to a number of investigations," and two weeks ago the board was given a report compiled by an advisory panel that found her guilty of dereliction of…
Business Reporter. Technology services provider EOH has published its financial results for the year ended July 2021, revealing a return to operating profit of R147 million, from a R1.3 billion loss in FY2020. EOH said its work to close out legacy contracts and make targeted disposals over the past two…
By Lehlohonolo Lehana. Optique means "Optical" in French, a collective noun describing what the team at Optique do as Optometrists. At Optique, they continually strive to make eye care more accessible and easier to understand. They make going to the optometrist interesting, exciting, and professional, and their goal is to…
Staff Reporter. Uber has teamed up with the IEC to ensure that transportation will not be a problem for South Africans who intend to vote in the municipal elections next Monday, November 1. The election initiative will cover the cost of two trips, with a limit of R35 each. Of…
By Lehlohonolo Lehana. JSE-listed technology company Altron on Monday reported interim results for the six months ended August 2021, showing revenue up by 2% to R3.5 billion. Operating profit was up by 71% to R173 million, while headline earnings per share increased 238% to 11 cents per share. The company…
By Lehlohonolo Lehana. Eskom has published its summer load shedding forecast for 2021/2022, with the power utility warning that its system is likely to remain severely constrained for the near future. Presenting its system outlook on Monday (25 October), Eskom’s Group Executive for Transmission, Segomoco Scheppers, said that this is…
By Lehlohonolo Lehana. The International Monetary Fund (IMF) expects South Africa’s economy to grow by 5% in 2021, reflecting a better-than-expected growth in the year’s first half. In its latest regional outlook for the Sub-Sahara region published on Thursday (21 October), the group warned that this growth could slow significantly…
Staff Reporter. Retailer Pick n Pay has published its financial results for the six months ended 29 August 2021, with the group reporting solid results after a period impacted by the Covid-19 pandemic and social unrest. Group comparable earnings per share increased 90.9% year-on-year, while sales growth increased by 4.1%…
By Bloomberg. The world’s richest countries are courting South Africa as a model of how to transition to a more climate-friendly future from a dependency on coal. While $5 billion (R73.7 billion) of cheap loans and grants are on offer as a first step, transforming Africa’s most industrialized economy demands…
Staff Reporter. Mid-month data from the Central Energy Fund (CEF) shows that fuel prices could see significant increases in November on the back of the global energy crisis and a weaker rand. The data made available by the CEF to 14 October shows an under-recovery in both petrol and diesel…
Staff Reporter. Ethiopian Airlines (ET) has signed an interline agreement with Johannesburg-based airline, Airlink, to allow passengers to enjoy seamless travel with a single ticket and lower fare tickets between points within the carriers’ networks. Passengers can book through their itineraries on both airlines easily, the airline said. The partnership…
By Lehlohonolo Lehana. Finance minister Enoch Godongwana has clarified Treasury’s position on South Africans who change their tax residency, saying it is incorrect to call the recent amendments 'exit taxes'. Answering in a written parliamentary Q&A this week, Godongwana said that these amendments address many long-standing inequities in South Africa’s…
By Lehlohonolo Lehana. The International Monetary Fund (IMF) has published its latest growth outlook for the world’s major markets, with the group forecasting that the global economic recovery is set to continue, despite the resurgence of Covid-19 in parts of the world. Fueled by the highly transmissible Delta variant, the…
Staff Reporter. The ongoing steelworker strike is likely to lead to job cuts, further hammering an industry that’s been in decline for several years, according to the country’s main employer body. The week-long walkout by as many as 300,000 members and allies of the National Union of Metalworkers of South…
By Lehlohonolo Lehana. The impact of the COVID-19 pandemic, as well as other prevailing circumstances, has prolonged the negative impact of the Public Investment Corporation’s (PIC) future financial results. The warning has been fired by the PIC’s board of directors in the corporation’s 2020/21 Integrated Annual Report released last week.…
By Lehlohonolo Lehana. The National Consumer Commission has urged consumers to return 100% Apple juice produced by Pioneer Foods. Acting National Consumer Commissioner, Thezi Mabuza, said the supplier informed the Commission of the precautionary recall of both LiquFruit and Ceres 100% apple juice. "Consumers who have these products must not…
Staff Reporter. The Department of Energy has published the official fuel price adjustments for October, showing a minimal petrol prices decrease for motorists at the pumps. Mid-month fuel price data showed a possible decrease in fuel prices; however, the key factors in determining costs reversed their beneficial positions over the…
By Lehlohonolo Lehana. Finance minister Enoch Godongwana says government is focused on rebuilding South Africa’s economy. However, there are several necessary structural reforms that must be implemented to get things back on track and improve private investment. Addressing a national investment dialogue on Thursday (30 September), Godongwana said that at…
Staff Reporter. Nearly a week after taking to the skies following an 18 month hiatus, South African Airways (SAA) has signed a memorandum of cooperation with Kenya Airlines which SAA says will, in the long term, form the basis for the establishment of a "Pan-African Airline Group". According to SAA,…
By Lehlohonolo Lehana. Retirement is perhaps the most misunderstood stage of our lives - we normally think of it as a time to settle down when we're too old to work. But what if you were to imagine it as the next big adventure in your life, a coming time…
Staff Reporter. US-based carrier United Airlines has announced a new codeshare agreement with regional airline Airlink as part of an expansion into South Africa. The new agreement, which is subject to government approval, will offer one-stop connections from the US to more than 40 destinations in Southern Africa, the group…
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…
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