Business
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…
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…
Only Motsepe climbed the global wealth rankings – and he’s now the third richest man in the country.
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…
Pay more now, to save more later - how a deposit can improve your chances of buying your dream home.
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…