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As exchange controls are relaxed, the tax net gets tighter
As outlined in the Budget Review: “Government will be modernising the foreign exchange control system. As a result, a new capital flow management system will be put in place. This new system will move from a ‘negative list’ system to one where all foreign-currency transactions, other than those contained on the risk-based list of capital
AngloGold set for strong annual payout
AngloGold Ashanti has taken full advantage of the buoyant gold price, with a strong rise in first-half earnings and free cash flow positioning it to pay a bigger full-year dividend. It has also cut adjusted net debt by 18% to $1.43 billion and says it has sufficient liquidity to see it through the Covid-19 crisis.
What to consider when accessing your offshore funds to improve cashflow
FNB has seen an increase in a number of its private banking clients with offshore investments bringing them back into the country, as a result of cash-flow constraints brought about by the COVID-19 pandemic and a rocky economic climate. The common perception is that the process of bringing offshore funds back into the country is
Toshiba is officially out of the laptop business
Toshiba quietly exited the laptop business once and for all last week, ending a 35-year run by transferring its remaining minority stake in its PC business to Sharp. Two years ago, Toshiba sold an 80.1 percent stake of its PC business to Sharp for $36 million, and Sharp renamed the division Dynabook. Sharp exercised its
R104 million payday for Telkom top executives
Telkom CEO Sipho Maseko earned a total of R21.8 million for the 2020 financial year. This is a reduction of more than R1 million compared to the R23.2 million he earned over the 2019 period. His 2020 financial year remuneration included: A guaranteed salary of R8.83 million Vested shares totalling R10.53 million Unvested shares totalling
The first-ever space helicopter is en route to Mars, to shoot drone footage
NASA's new Mars rover, which launched on 30 July, has a miniature helicopter tucked inside its belly. Perseverance will be NASA's fifth rover to Mars, but its helicopter stowaway, called Ingenuity, will be the first spacecraft of its kind. About two months after the rover lands, it's programmed to lower the helicopter to the Martian surface, back
Advertorial: Unisa’s College of Science, Engineering and Technology students are widely recognised in the workplace
Recognition of our students is not only based on their qualifications, but also on their work ethic and ability to function independently, with perseverance and self-discipline, at the forefront. Unisa students tend to be more mature, can plan their studies around their work and still have time for family and other commitments. Self-discipline and time
Here's how Uber lost $1.8 billion over the last 3 month
Uber is continuing to bleed cash during the coronavirus pandemic. The chronically unprofitable company lost $1.8 billion over the last three months, with its adjusted net revenues down 29 percent compared to Q2 of 2019. Even Uber’s successful delivery business, which saw revenues grow 162 percent year over year, wasn’t enough to buoy the company’s
Standard Bank supports SA’s youth through #ItCanBe campaign
Standard Bank, as part of the #ItCanBe campaign, is motivating South Africa’s youth to consider their dreams, where they want to be and to push through their hustles, because “with the right level of support, we believe that no matter how big or small your dream is – it can be”. This is according to
Mondi resumes dividend payments
After a resilient first-half, the paper and packaging group, Mondi, has resumed dividends, recognising the importance to shareholders. Mondi has resumed dividend payments after its business proved resilient over the first half of its financial year amid the challenges brought by Covid-19. On top of an interim dividend, it will also pay out last year's
MTN to exit Syria & Iran to focus on being a pan-African telecoms
Cell phone network operator MTN says it is focusing its future strategy on its African markets, where growth has been strong. MTN plans to sell its operations in the Middle East as it focuses on its African business. It is already in advanced talks to dispose of its 75% in MTN Syria and will also
6 Reasons why the Future of Work Virtual Conference is a ‘must-attend’ event for business in Africa
Businesses on the African continent are at a crossroads, with Covid-19 exacerbating existing cracks in the system, creating an urgent need to adopt innovative technologies for future success. CNBC Africa, in partnership with Forbes Africa and prominent sponsors, is hosting a free virtual summit to outline technological opportunities – hosted on Hopin, an online events
SA’s top mining shares rocketed more than 420% in 3 years – and could still run further, analyst says
The past five years have not been kind to investors in most South African shares, with the JSE’s all share index delivering – on average – only 1.4% per year during this time, much less than inflation. But the local market would have looked so much worse without a handful of mining shares. PSG Wealth
Coal-dependent Eskom calls for battery-power storage
South Africa’s state-owned power utility, which relies on coal to generate most of the nation’s electricity, issued a request for bids to build its first battery-energy storage system, according to a tender document seen by Bloomberg. Eskom Holdings SOC Ltd. has received funding from institutions including the World Bank and African Development Bank, which it
Gold Fields rides the bullion rally
The gold producer will report a strong rise in interim earnings as it maintained production amid a rising gold price. Gold Fields says its first-half headline earnings per share are likely to quadruple after it received a higher price for its metal and suffered only minor disruptions as a result of Covid-19. In a trading
Transforming your small business into a smart business
Businesses that survive the COVID-19 pandemic should – now more than ever – strive to be a digital-first business, equipped with technology that can bolster collaboration, information sharing and customer engagement. The pandemic has highlighted the economic, health and social risks of the traditional ways of doing business, and no sector has escaped unscathed. Small
Skywalk Innovations wins big at Nedbank Business Ignite 2020
In light of the financial constraints the corporate world is facing due to Covid-19, Skywalk Innovations, a newly emerging software development company that specialises in developing mobile and web applications seized the opportunity to win the Nedbank Business Ignite challenge 2020. The campaign which aims to empower entrepreneurs to carve out new markets and sustainable
Former Google exec Anthony Levandowski sentenced to 18 months for stealing self-driving car secrets
Controversial engineer Anthony Levandowski, who worked for the Google division that would become Waymo before founding trucking company Otto and selling it to Uber, has been sentenced to 18 months in prison for trade secret theft during his various stints in the self-driving industry. His sentencing closes the book on a multi-year legal saga stemming
Redefining Africa’s workforce through digital transformation
Covid-19 has forced businesses globally to re-evaluate their business models and to adapt to new working environments. As whole industries adjust and new ones are born, many occupations will undergo a fundamental transformation. Technological, socio-economic, geopolitical and demographic developments and the interactions between them will generate new categories of jobs and occupations while partly or
Trematon sells Gansbaai centre
The disposal is line with with its strategy of optimising investment returns. Trematon Capital Investments has reached a deal to sell its 50% stake in a retail centre in Gansbaai in the Western Cape. It owns the property through 60% held subsidiary ARIA Property Group. The centre has Spar as its anchor tenant. It has