Every country in the world wants to drive economic progress, no matter how well off they are. Just look at the Netherlands, which is paving the way to a more substantial form of living – and China, where technological innovation is at the fore. South Africa is no different. While the country has certainly moved […]

JOHANNESBURG – South Africa’s Home Affairs Minister Malusi Gigaba has (finally) resigned, the Presidency said on Tuesday. His resignation following calls from opposition parties to stand down in recent weeks over a High Court ruling which found he lied under oath. Gigaba, who was finance minister between March 2017 and February 2018, has denied any […]

If you’re a South African living in the UK or Ireland, you’re in luck if you want to get a regular South African fix – there are heaps of fantastic SA stores, laden with all the best goodies from home… from Mrs Balls Chutney to freshly made biltong and boerewors. This list has been compiled […]

JOHANNESBURG – South Africa’s cash-strapped power utility Eskom said on Monday the risk of nation-wide electricity outages had increased significantly due to a sharp fall in coal stockpiles at five of its power stations. “The risk of load-shedding is there and it’s rising,” said Eskom spokesman Khulu Phasiwe. “In total, we have 11 coal-fired power […]

In the world of smartphones, China has Huawei, Korea has Samsung, while the United States of America has Apple. And soon South Africa will have Mara! Long-time dark horse Africa is now taking centre stage with the announcement of the Mara phone project that is touted to take the smartphone business by storm. Developed by […]

JOHANNESBURG – South Africa’s Discovery Ltd said on Thursday it will issue about 10.9 million new shares to qualifying investors in order to raise R1.85 billion ($132 million) to help fund an acquisition of a stake and assets in soon to be launched Discovery bank. Discovery, which offers health, life and car insurance, was granted […]

JOHANNESBURG – South Africa’s anti-corruption watchdog, the Public Protector, said on Thursday that it was investigating Public Enterprises Minister Pravin Gordhan, a close ally of President Cyril Ramaphosa, for allegedly abusing his powers during his time as finance minister. The watchdog said it was looking into allegations that Gordhan wrongly approved an early retirement package […]

JOHANNESBURG – Credit Suisse has pulled out of South Africa after more than a decade as part of Chief Executive Tidjane Thiam’s bank-wide revamp, three sources with knowledge of the matter said. Wealthy South Africans and a few blue chip SA companies will continue to benefit from Credit Suisse’s services from overseas offices. Switzerland’s second […]

JOHANNESBURG – South African President Cyril Ramaphosa said on Tuesday that closing down state-owned South African Airways (SAA) could collapse the country’s public finances as the government would have to service its debts immediately. Finance Minister Tito Mboweni said last week that his preference would be to close down the debt-ridden airline. But Ramaphosa told […]

JOHANNESBURG – South Africa’s Ministry of Public Enterprises said on Sunday that state-run South African Airways (SAA) should reduce its cost base and prepare for a strategic equity partner in the near future. The Public Enterprises ministry said the airline should stop all fraudulent contracts, address its cost base, discipline those implicated in corruption and […]

CAPE TOWN – South African researchers say they have made bricks using human urine in a natural process involving colonies of bacteria, which could one day help reduce global warming emissions by finding a productive use for the ultimate waste product. The grey bricks are produced in a lab over eight days using urine, calcium, […]

JOHANNESBURG – South Africa’s biggest insurer Sanlam Ltd announced a series of deals on Wednesday to meet so-called affirmative action rules, including the sale of a 5 percent stake to black investors and staff for up to R8.6 billion ($583 million). Companies in South Africa have to meet quotas on black ownership, employment and procurement […]

Investigations by Werksmans Attorneys on mismanagement at the Passenger Rail Agency of South Africa (PRASA) for the 2014/15 financial year have raised more red flags about security at the beleaguered state-owned entity. The leaked reports substantiate previous investigations by the Public Protector, Auditor General and National Treasury. They reveal that hundreds of millions of rands […]

JOHANNESBURG – The South African central bank – the Reserve Bank – said on Tuesday that it has started the process of winding up VBS Mutual Bank, which was caught up in a corruption scandal earlier this year. A report commissioned by the Reserve Bank this month titled “The Great Bank Heist” found that R1.9 […]

JOHANNESBURG – South African lender Nedbank said on Monday it would appoint Ernst & Young as joint external auditors in May 2019, becoming the latest firm to drop the scandal-hit KPMG’s local unit. The auditor’s South African unit has been under close scrutiny since 2017 over work done for a company owned by the Gupta […]

It is common cause that the performance of South Africa’s government, led by the African National Congress (ANC), has been worse than abysmal. Under former President Jacob Zuma, ANC functionaries pillaged numerous institutions of state. They enabled state owned institutions to be looted, mismanaged the provision of basic services and presided over an alarming downward […]

WINDHOEK – Namibia has scrapped a requirement for companies seeking mining exploration licences to be partly owned and managed by black Namibians, the country’s mining industry group said on Friday. The policy was introduced in 2015 to increase the participation of historically disadvantaged black Namibians in some of the country’s most lucrative business projects, but […]

JOHANNESBURG – South African Public Enterprises Minister Pravin Gordhan said on Sunday that efforts to clean up corruption in state-owned companies (SOCs) faced “dangerous” resistance which threatened the country’s sovereignty… and hinted that the Gupta family is behind this resistance. Gordhan, a former finance minister, has been tasked by President Cyril Ramaphosa with cleaning up […]

Chinese business tycoon Jack Ma has three main pieces of advice for South Africa: improve the education system, invest in entrepreneurs and ensure clean governance. Speaking at the inaugural South Africa Investment Conference business dinner on Friday night, Ma said for any country to develop it has to pay attention to those three elements. Ma […]

JOHANNESBURG (Reuters) – South African President Cyril Ramaphosa used an investment summit on Friday to reassure investors that his government was committed to protecting property rights as it pursues plans to accelerate the pace of land redistribution. “We are committed as government to pursuing a comprehensive approach to land and agrarian reform which ensures transformation, […]

It’s been a fantastic day for South Africa as local and international businesses have come to the inaugural South African Investment Conference bearing gifts in the form of investment commitments to the tune of R290 billion ($20 billion). “This R290 billion is what we have now in our hands and these are in addition to […]

On the advice of the State Librarian one fine day in the 1970s, a truck transported thousands of books and magazines from Pretoria’s Central Police Station to a dark hall at the Iscor state steel company, just outside the South African capital. A large mechanical shovel scooped up and dropped them into a 20-metre high […]

JOHANNESBURG – South Africa’s rand weakened more than 1 percent on Wednesday after new Finance Minister Tito Mboweni forecast wider deficits and slower growth in his maiden budget speech. At 1247 GMT, the rand traded at 14.4200 versus the dollar, 1.1 percent weaker on the day. Mboweni delivered the medium term budget to parliament as […]

JOHANNESBURG – South Africa’s state pension fund and a local black investment firm have bought a majority stake in Africa’s biggest cattle company for R5.2 billion. The Public Investment Corp. (PIC), Africa’s largest investment fund and the biggest investor in South Africa’s economy, said on Tuesday it had bought a majority share in Karan Beef […]

JOHANNESBURG  – South Africa’s biggest supermarket chain, Shoprite, said on Tuesday it would pay customers for reusing its newly introduced recyclable bag… as it joined domestic rivals in efforts to curb plastic pollution. Supermarkets have come under increased pressure to cut their use of plastic as images of littered oceans and beaches become commonplace, shocking […]