Treasury beefs up plan to get South Africa off the grey list
National Treasury has opened new draft regulations in a bid to prevent money laundering and the financing of terrorism as the nation tries to get off the Financial Action Task Force’s (FATF’s) greylist. In February, South Africa was put on the greylist by the FATF for failing to implement effective measures to counteract money laundering and […]
Floyd Shivambu Faces Salary Docking After VBS Bank Revelations
The Economic Freedom Fighters (EFF) Member of Parliament, Floyd Shivambu, is set to face consequences for not disclosing three payments he received from the now-defunct VBS Mutual Bank. In contrast, the EFF leader, Julius Malema, has been cleared of any wrongdoing due to a lack of concrete evidence. This essay delves into the recent developments […]
30 Days To Approve Mango Airlines Sale Says DPE
The Department of Public Enterprises has announced its intention to appeal a recent court ruling regarding the sale of Mango Airlines. Mango, a subsidiary of the state-owned South African Airways (SAA), has been grounded since July 2021. The North Gauteng High Court issued a ruling in September, directing Public Enterprises Minister Pravin Gordhan to make […]
Capitec’s big plans for mobile – while adding 120,000 new SIMs a month
Capitec chief executive officer Gerrie Fourie, says that the bank is not shopping around for a stake in Cell C, and instead wants to build on the success of its mobile virtual network operator (MVNO), Capitec Connect. To this end, the group wants to put a stong focus on disrupting the mobile data space, while […]
Stats SA Unveils Explosive Job Market Resurgence
Statistics South Africa (Stats SA) recently released data indicating a significant upswing in formal non-agricultural sector employment during the second quarter of the year, marking a noteworthy milestone as it surpassed the 10 million job mark. The quarterly addition of approximately 39,000 new jobs was complemented by a striking year-on-year growth rate that nearly tripled […]
The Renaming of William Nicol Drive to Winnie Mandela Drive
The City of Johannesburg recently made headlines when it officially renamed William Nicol Drive to Winnie Mandela Drive, in a move aimed at addressing historical injustices and promoting social cohesion. This decision, however, has stirred up a debate regarding the allocation of resources in a city facing numerous challenges, including road maintenance and service delivery. […]
Big interest rate decision for South Africa – what to expect
The South African Reserve Bank(SARB) is expected to keep interest rates where they are, but there is still a risk that they could rise. Investec Chief Economist Annabel Bishop said that there is a risk that the SARB’s Monetary Policy Committee (MPC) hike rates by 25 basis points, especially after the US Fed raised its […]
Red flags for landlords in South Africa
TPN Credit Bureau has released its Vacancy Survey for the second quarter of 2023, revealing the most popular rental bracket in South Africa right now. According to the latest TPN Vacancy Survey, the national vacancy rate – the number of vacant properties – increased from 6.19% in Q1 2023 to 7.27% in Q2, representing a […]
5 ‘hidden’ costs in South Africa that you should keep tabs on
Amidst the current cost of living crisis, many South Africans are trying to cut down on expenses – but five costs may be escaping the attention of even the most attentive South Africans. “South Africa’s diverse economy and a vast range of industries can make it difficult to keep up with everything one has to […]
Big storm brewing over Treasury’s budget cuts
Some of South Africa’s biggest trade unions have called for strikes over the proposed budget cuts by the National Treasury to be announced in the Medium-Term Budget Policy Statement (MTBPS), which unions say would be detrimental to workers and the poor. The City Press reported that Saftu and Cosatu heads called on all unions, workers, and the […]
