Browse every article
1,115 articles · 1 filter applied · Reset filters
Best crossover SUVs for under R400,000 in South Africa
Crossovers have grown in popularity among South African motorists over the years, in part because they have more clearance than standard hatchbacks, allowing their drivers to handle the challenging terrain and pothole-ridden roads that South Africa has to offer. Another advantage of crossovers is that they provide more space than a hatchback while remaining relatively
Calls for the establishment of state-owned construction companies have been renewed
Construction industry associations have expressed serious reservations about the proposed state-owned construction company's ability to address the country's infrastructure backlog. This follows a debate last week in the National Council of Provinces (NCOP) on the "Creation of provincial and municipal owned-construction companies to eradicate infrastructure backlog and abolish tenders”. Mmabatho Mokause, chief whip of the
Extortion'mafia' strikes SA's nearly R1 trillion mining sector
A threatening letter, a derailed train, closed roads, burned vehicles, and workers imprisoned Extortion, according to some of the world's largest mining companies, is a problem in South Africa. Covid sent Africa's most industrialised country — home to the world's largest deposits of metals ranging from platinum to chrome and manganese — into its deepest
What R6 million houses look like in South Africa versus the United Kingdom, Ireland, the Netherlands, and Australia
Global interest rate increases and rising inflation have made purchasing a home more difficult this year, regardless of where new homebuyers are looking. The latest interest rate hike by the South African Reserve Bank (SARB) in late November raised domestic interest rates by 75 basis points, bringing the prime lending rate to 10.5%. As a
Big changes for South African schools – these are the laws that are being accepted and rejected
The basic education portfolio committee has summarised the feedback received so far on proposed changes to South Africa's school laws. The committee summarised the main points of approval and opposition to the Basic Education Laws Amendment Bill (BELA), which aims to make a slew of changes to South African schools, in a presentation this week
What's next in the South African president's cash-in-sofa scandal?
‘We can assure South Africans that they have a head of state that is firmly focused on the task at hand,’ his spokesman Vincent Magwenya said. A scandal that has put South African President Cyril Ramaphosa's grip on power to the test and roiled the country's bond and currency markets has yet to be resolved.
Absa warns of impending writedowns after a good year for loans and deposits
Absa, South Africa's fourth-largest lender, says a recovery in its life insurance business and rising interest rates have contributed to a double-digit revenue increase so far in its 2022 fiscal year, but it is seeing strain on consumers as a result of more difficult conditions, and impairments are rising as well. Absa said in an
Gungubele warns that if car manufacturing does not decarbonize, SA could lose 100,000 jobs
South Africa's manufacturing sector must urgently transition to producing electric vehicles, or around 100 000 jobs could be lost in the next five years as key export destinations phase out petrol and diesel vehicles, according to Minister in the Presidency Mondli Gungubele. The European Union has given local vehicle exporters until 2030 to decarbonize the
Grant payments have been halted at ATMs for the time being as a criminal network targets the system
Social grant recipients who use Postbank or the SA Social Security Agency's (Sassa) gold cards will be unable to withdraw funds from ATMs in December, the agency announced on Tuesday. Postbank and gold cardholders will be able to withdraw funds only from retail merchants. Sassa said in a statement that the shutdown was caused by
The South African economy surprised with strong growth in the third quarter
South Africa's economy grew faster than expected in the third quarter, avoiding a recession despite record load shedding. The economy expanded by 1.6% in the three months to September 30, after contracting by 0.7% in the previous quarter due to the KwaZulu-Natal floods. A technical recession is defined as two consecutive quarters of a shrinking
Despite rising interest rates, Nedbank says credit demand has increased
Nedbank claims to have increased lending, and as interest rates rise, the green bank is reaping substantial net interest income. On Monday evening, the banking group issued a trading update for the ten months ending October 31, 2022. Despite the fact that the South African economy lost momentum in the second half of the year
Diesel prices have been reduced significantly, while petrol prices have risen
The price of 93 and 95 unleaded petrol will rise by 59c per litre on Wednesday, while diesel will fall by between R1.52 and R1.57 per litre. In Gauteng, 95 petrol will cost R23.46 per litre beginning Wednesday, up from R20.29 a year ago, but down from a high of R26.74 in July. The Gauteng
First in Africa, a Durban doctor performs cutting-edge surgery on a chronically ill patient's arteries
A doctor at Lenmed's eThekwini Hospital and Heart Centre performed a medical first for the continent, performing a groundbreaking surgery that will revolutionise treatment for patients living with chronic conditions. Dr. Vinesh Padayachy performed an orbital atherectomy, which sands away calcium or plaque buildup in the arteries that is difficult to remove. A 67-year-old woman
Delta Airlines launches a new direct route between Cape Town and Atlanta
Delta Airlines will launch a new direct route between Cape Town and Atlanta in the United States on Saturday, December 3. Since December 2006, the airline has operated direct flights between Atlanta and Johannesburg. The direct flight between Cape Town and Atlanta will be part of a new seasonal triangular route that will begin with
Sanlam and Absa have officially formed South Africa's largest black-owned asset manager
Sanlam and Absa have officially joined forces to form South Africa's largest black-owned asset manager. In October 2021, the two companies announced their intention to merge to form an asset management firm second only to Ninety One in size. The combined assets of Sanlam Investments and Absa Investments – which included Absa Asset Management, Absa
South African finance laws are changing dramatically, with tighter regulations for estate agents, casinos, and cryptocurrency
Enoch Godongwana, Finance Minister, has amended the Financial Intelligence Centre Act (FICA), which affects a variety of financial and non-financial institutions. The National Treasury attempted to patch up legislative gaps in a slew of recent amendments and promulgations after an international watchdog, the Financial Action Task Force (FATF), discovered gaps allowing terrorist financing and money
The ANC responds to Dlamini Zuma's call for Ramaphosa to step down amid the Phala Phala saga: 'She does not speak for the party'
While there was nothing wrong with members of the ANC's National Executive Committee speaking on the findings of the Phala Phala report, according to Pule Mabe, their views did not represent those of the ANC. He was speaking to eNCA after Nkosazana Dlamini Zuma called for President Cyril Ramaphosa to step down in an interview
Rand is under pressure as a result of the findings against Ramaphosa
The rand fell more than 1% to R17.38 today, after closing on a three-month high on Wednesday, as fears that President Cyril Ramaphosa would be recalled gripped markets and frightened investors. This comes after an independent panel of experts appointed by Parliament and chaired by retired Chief Justice Sandile Ngcobo found Ramaphosa may have a
S&P remains cautious on SA due to the Eskom debt transfer, grants, and the 2024 election
Although Standard & Poor's reaffirmed South Africa's credit rating two weeks ago, the government's decision to take over some of Eskom's debt, as well as rising civil servant and social welfare bills, pose credit risks. On November 18, the US credit rating agency affirmed South Africa's 'BB-/B' long- and short-term foreign currency sovereign credit ratings,
Murray & Roberts has agreed to sell its stake in Gautrain for R1.38 billion
Murray & Roberts (M&R), an engineering and construction firm, has agreed to sell its 50% stake in Bombela Concession Company, the operator of Gautrain, for R1.38 billion. The sale to Intertoll, based in Amsterdam, comes amid disruptions to its order book and cash flows. The agreement covers a 33% stake in Bombela held by M&R