Former President Thabo Mbeki Calls for Transparency in Banking Scandal
Former South African President Thabo Mbeki has added his voice to the growing concerns surrounding allegations of price fixing and currency manipulation involving almost 30 commercial banks in South Africa. The banking scandal has recently come to light, with British multinational bank Standard Chartered fined nearly R42 million by The Competition Commission for its admitted […]
Unwrapping Deals and Discounts: Navigating the Black Friday Bonanza in the 2023 Festive Marketplace
The retail sector is bracing for a pivotal moment as the annual holiday shopping extravaganza unfolds in 2023. With the much-anticipated “Black Friday” followed closely by “Cyber Monday,” retailers are deploying an arsenal of strategies to entice consumers into festive purchases. This year, however, the landscape is tinged with economic unease, despite favorable unemployment rates. […]
Nedbank’s Strategic Move: Jason Quinn’s Appointment as CEO and the Bank’s Vision for the Future
In a significant development within the financial landscape of South Africa, Nedbank has appointed Jason Quinn as its new Chief Executive Officer, marking a strategic transition for the bank. The decision, hailed by the board of directors, reflects the confidence in Quinn’s track record and expertise, envisioning a substantial contribution to Nedbank’s legacy both in […]
Elon Musk’s X sues Media Matters over antisemitism analysis
Elon Musk’s social media platform X has sued a left-leaning pressure group that accused the site of allowing antisemitic posts next to advertising. X’s lawsuit alleges that Media Matters for America “manipulated” data in an attempt to “destroy” the platform formerly known as Twitter. Firms including Apple, Disney, IBM and Comcast have paused adverts on […]
African bank hits 4 million customers
African Bank has recorded a profit for the financial year ended September 2023 – rescuing itself from a challenging start to the year. Over the financial year, the group said that it saw a successful acquisition and integration of Grindrod Bank and Ubank assets, liabilities and operations. With the more extensive operations, the group is […]
Controversial SABC Bill takes a major step
Controversial SABC Bill takes a major step The Portfolio Committee on Communications and Digital Technologies has opened the South African Broadcasting Corporation SOC LTD Bill for public comment. The Bill broadly aims to fix the ailing public broadcaster via the following: To repeal the Broadcasting Act of 1999; To regulate the continued existence of […]
Employees are scamming their bosses in South Africa – costing them billions
Employee fraud is costing businesses worldwide billions – including in South Africa – and some experts call the rampant theft a global financial pandemic. Speaking with eNCA, CEO of forensic investigative services company CS Forensics, Christo Snyman, said employee fraud is very likely the most common form of financial fraud in South Africa. These types of […]
Starbucks faces walkout at hundreds of US stores
The union representing thousands of Starbucks workers in the US is staging a walkout on one of the coffee chain’s busiest days of the year. The action comes amid a bitter fight between Starbucks and Starbucks Workers United, which started organising workers at the company in 2021. The two sides are fighting over pay, scheduling […]
Death by half a million cuts — South Africans kiss DStv goodbye
MultiChoice lost nearly half a million DStv subscribers in South Africa in the past year, according to the company’s latest interim results (1H FY2023). As of the end of September 2023, the pay-TV broadcaster’s 90-day active subscribers in its country of origin stood at 8.629 million. This was 486,000 less than the 9.115 million it had at […]
Google’s Strategic Shift: The Unforeseen Withdrawal of Fitbit and Nest Products in South Africa
In a surprising turn of events, Google has decided to halt the sale of Fitbit and Nest products in certain countries, South Africa included. This decision aligns with the company’s broader strategy of adjusting its hardware portfolio to match the regional availability of its Pixel devices. Fitbit, with its longstanding presence in South Africa dating […]
