JOHANNESBURG – South African retailer Edcon – owner of well known outlets like Edgars, CNA and Jet – has asked shopping mall owners to give it a two-year 41 percent reduction in rent… in exchange for a small stake in the company, as it battles to survive, according to a Sunday Times report. Citing a […]

South Africa’s famous Sun City was hit by a major hail storm on Saturday that resulted in extensive damage, and several grumpy hotel guests who didn’t feel the hotel was well equipped to handle the storm. Sun City confirmed in an official statement Saturday evening: A hail storm hit the North West region of the […]

Here’s what’s coming up on South Africa’s favourite current affairs show Carte Blanche on Sunday 16 Dec in South Africa. If you’re a South African living abroad – subscribe to Showmax to watch from Tues 18 Dec, and don’t miss out on the 14-day Free Trial. The State of the Nation 2018 In February Cyril Ramaphosa became […]

A South African High Court has passed an important judgment putting a stop to the pervasive practice by companies to mine ancestral lands in rural areas without the villagers’ consent. The case was brought by the community of rural UMgungundlovu, a small cluster of villages that fall under the Amadiba traditional authority on the largely […]

JOHANNESBURG – A debt swap for cash-strapped state power company Eskom would spiral the country into more debt, South Africa’s President Cyril Ramaphosa said on Thursday, adding there was need to look at other options to shore up the company’s balance sheet. Eskom, which has had to implement power cuts due to coal shortages and […]

PRETORIA – Andre Kruger’s stand at Africa’s first ever cannabis exposition displayed an indoor growing tent, complete with state-of-the-art lighting imported from the United States and fittings for a high-tech hydroponic irrigation system. What it didn’t have, however, was a cannabis plant. The four-day expo, which opened in South Africa’s capital Pretoria on Thursday, was […]

Christmas seems to be coming early for South Africans with a drop in petrol prices, today’s ruling that Jacob Zuma must pay for his own legal fees and news from Eskom that it’s unlikely to implement power cuts again until mid-January next year. This is thanks to electricity demands easing over the Christmas and New Year […]

JOHANNESBURG – The South African Reserve Bank will not raise interest rates again until May, according to a Reuters poll, taken after the Reserve Bank surprised many economists last month by adding 25 basis points to borrowing costs. The median forecast in the poll of 25 economists, conducted over the past week, suggests the central […]

The rand is the fourth worst performing currency against the dollar in 2018 and among the most volatile, but it remains a favourite for investors chasing high yields and willing to risk short-term losses for sizeable net returns. Implied volatility on South Africa’s rand rose by its most this week since the last finance minister […]

JOHANNESBURG (Reuters) – South Africa’s Famous Brands said on Tuesday its UK-based unit Gourmet Burger Kitchen (GBK) has closed 14 out of 17 under-performing stores following the approval of a restructuring plan by creditors. A string of British store groups have either gone out of business or announced plans to close shops this year, as […]

President Cyril Ramaphosa has welcomed the North Gauteng High Court judgment upholding the President’s dismissal of Tom Moyane as Commissioner of the South African Revenue Service (SARS). The President ended Moyane’s tenure at SARS in November 2018 following a recommendation by the Nugent Commission of Inquiry into the governance of the revenue service and tax […]

The eThekwini Council in South Africa just spent a whopping R2-million, according to the DA, on a trip to Colombia that never happened. The Durban delegates – all 59 of them! – were unable to board the plane in Brazil for the final flight to Colombia because they didn’t have the correct visas! The Democratic […]

Good news for South Africans as Eskom says it will not implement Stage 1 rotational load shedding today. “Eskom will not implement Stage 1 rotational load shedding from 9am today. The electricity system remains tight and the risk of load shedding still remains high for today should power station units fail to return as planned,” […]

The axed South African Reserve Service Commissioner, Tom Moyane will on Tuesday know his fate as he bids to get his job back at the High Court in Pretoria. Judge Hans Fabricious is expected to hand down Moyane’s judgement. Moyane approached the High Court to have his dismissal overturned and prevent the SARS commission from […]

JOHANNESBURG – The South African government needs to “bite the bullet” and bail out struggling state-run power firm Eskom, which has asked for R100 billion ($7 billion) in government support, the chief executive of Rothschild & Co in South Africa told Reuters. Rothschild advised Eskom in 2008 when it last received a major cash injection […]

JOHANNESBURG – The chairman of KPMG South Africa on Monday appealed for the firm to be seen as a changed business, following months of efforts to regain public trust after becoming embroiled in major corruption scandals. In an open letter published in South African newspapers, KPMG South Africa’s executive chairman Wiseman Nkuhlu said the local […]

JOHANNESBURG  – South Africa’s new national minimum wage will take effect from January 2019, President Cyril Ramaphosa said on Friday, ensuring workers earn at least R20 an hour. Ramaphosa last month signed into law the national minimum wage bill, part of efforts by the government to tackle wage inequality in South Africa. The National Minimum […]

PRETORIA – President Cyril Ramaphosa’s pledge to clean state-run organisations from corruption continued today with South African Energy Minister Jeff Radebe announcing that the government has replaced the entire board of directors of state-run nuclear firm NECSA… and suspended its chief executive (Phumzile Tshelane) over problems with how it was governed. Radebe said the challenges […]

The South African government has welcomed rating agency Fitch’s decision to affirm SA’s long term foreign and local currency debt ratings at ‘BB+’ and maintain the stable outlook, National Treasury said. Fitch’s outlook assessment on Thursday keeps South Africa’s foreign and local currency credit ratings below investment grade (subinvestment). Fitch warned that low growth and […]

JOHANNESBURG – Ratings firm Fitch on Thursday kept South Africa sub-investment grade credit rating steady at subinvestment and maintained its stable outlook, but warned that low growth and rising debt of state-owned firms posed a risk. “South Africa’s ratings are weighed down by low growth potential, sizeable government debt and contingent liabilities,” Fitch said in […]

The Kruger National Park (KNP) on Tuesday unveiled four fantastic activity vehicles that will be used to transport tourists with mobility challenges on game viewing activities. The 14-seater activity vehicles form part of the KNP Visitor Management Plan, and can lift weight up to a maximum of 250 kg. “KNP aims to enhance the recognition […]

JOHANNESBURG – South Africa‘s government is discussing restructuring the debt of state-run utility Eskom but will only give details of what it plans to do next year, Public Enterprises Minister Pravin Gordhan said on Thursday, in comments which sent Eskom’s bonds tumbling. The cash-strapped power firm said this week that it wanted the government to […]

Comments made by Johann Rupert are causing a stir in South Africa, with some accusing the billionaire businessman of “arrogant racism” and others saying he just pointed out the “uncomfortable truth”. Watch the full interview below. Rupert was speaking at the annual PowerFM Chairman’s Conversation, which was hosted by MSG Afrika Group Chairperson Given Mkhari […]

JOHANNESBURG – South Africa’s struggling state-run power firm Eskom now wants the government to take on R100 billion ($7 billion) of its debt as part of a turnaround plan, Eskom Chairman Jabu Mabuza told the Business Day newspaper. Cash-strapped Eskom is struggling to emerge from a financial crisis characterised by declining electricity sales, ballooning debt […]

Cooperative Governance and Traditional Affairs Minister Zweli Mkhize has extended good wishes to Kumkani Zanozuko Tyelovuyo Siqcau and the AmaMpondo people after he was officially recognised as a king. The South African government has issued a certificate of recognition to Kumkani Zanozuko Tyelovuyo Siqcau as the King of AmaMpondo. The king was recognised in terms of the […]