mark barnes

Debt-Ridden SA Post Office Could Turn Profit by 2018, Says New Boss

By SAPeople Staff Writer 23-02-16 17:27

The new head of the SA Post Office, former businessman Mark Barnes, has asked the government for up to R3.5 billion to help turn around the state-owned enterprise, which has been driven into the ground by years of poor management and service, fraud and skyrocketing debt.   Barnes, the former chairman of financial services company Purple Capital, […]

Engineering

Engineers in SA Earn More than Counterparts in US/UK/AUS

By NIEL RAMSAY LOUW 22-02-16 13:04

Experts regularly warn of the impending doom that South Africa’s own brain drain will bring to the country’s economy in the near future, and with over 300 qualified engineers leaving South Africa every year (according to Fin24 stats a few years ago), it seems that the pool of competent engineers, critical to the development of any country, […]

Tesla Motors, to be Based in Cape Town, Already Expanding

By SAPeople Staff Writer 21-02-16 18:22

News of Tesla Motors’ entry to South Africa is coming out in dribs and drabs. This week it was announced that the company owned by South African-born billionaire Elon Musk would open its first office in Africa in Cape Town, while five new jobs were  posted on the company’s website. The entry of Tesla to South Africa was […]

stick man

Bonanza of Animated Movies Hits Cape Town

By SAPeople Staff Writer 18-02-16 08:51

For anyone who loves animated movies like “Finding Nemo” or “Wallace and Gromit”, Cape Town is the place to be for the next four days as the Cape Town International Animation Festival offers a glut of movies and talks and workshops from around the world. Included in the features available will be the highly praised […]

iron ore

Anglo American to Cut Mine Assets As Losses Top $5.5 Billion

By SAPeople Staff Writer 17-02-16 11:22

In a bid to make up for falling profits in a  bad commodities market, the once-mighty Anglo American of South Africa will sell off some of its major assets and focus only on its copper, diamond and platinum businesses, according to news reports on Tuesday. The 99-year-old mining group recently announced a record pre-tax loss of […]

Sun City

South Africa’s Iconic Sun City to get a Facelift

By SAPeople Contributor 16-02-16 11:06

South Africa’s legendary playground Sun City is due to undergo a dramatic rejuvenation project worth R800 million rand over the course of 2016. According to a media release from Pilanesberg National Park, which lies next to the iconic resort, Sun City will offer new food options including a micro-brewery themed gastro pub, as well as a “raft […]

Census 2022 Gauteng

Africa’s Big Cities Offer Investors Hope in Hard Times

By SAPeople Staff Writer 15-02-16 10:26

JOHANNESBURG – Africa’s biggest economies have been hammered by the collapse in commodity prices over the past 18 months but there are still investment bright spots to be found. In cities such as Lagos, Nairobi, Accra, Kinshasa and Johannesburg, growth remains robust and investors are prospering in the retail, financial services, technology and construction sectors. […]

mine

Africa the Right Place for Mining Investment, Says Minister

By SAPeople Contributor 09-02-16 17:42

Mineral Resources Minister Mosebenzi Zwane said Africa remains the ideal destination for investment by international mining companies when he opened the 2016 Mining Indaba at the Cape Town International Convention Centre on Monday. “I am optimistic that as investors and analysts present here, you will evaluate the investment prospects of the continent appropriately and take a […]

cape town

South Africa Never Been Cheaper for Tourists, Thanks to Zuma

By SAPeople Staff Writer 08-02-16 17:24

If anyone in Britain has not heard about how cheap South Africa is for a holiday, the Spectator has published an article reminding them that “There may never be a better (or cheaper) time to visit South Africa”, adding that “Jacob Zuma’s economic mismanagement has a benefit for tourists: it’s as if a whole country […]

scrap cape town

The Scrap Collectors of Cape Town PICTORIAL

By SAPeople Staff Writer 31-01-16 17:57

Jonathan Plaatjies is 29 years old and unemployed. He lives in Nuwe Begin, just outside Mfuleni, about 30 kilometres from Cape Town’s centre. Plaatjies makes a living by collecting and selling scrap to some of the five or so scrapyards in Mfuleni. After Plaatjies lost his job as a security guard at Stellenbosch University he […]

netflix

The Good Times Might Be Up for Netflix Users Using Proxies

By SAPeople Staff Writer 29-01-16 18:07

Watch out, Netflix users, your days of making merry – that is, if you access hundreds of extra TV and movie titles from the U.S. – may be over. The company has announced plans to stop people around the world from watching Netflix programmes outside their territory. Many Netflix subscribers around the world have been bypassing regional restrictions […]

Rand Recovers Slightly After Reserve Bank Hikes Interest Rates

By SAPeople Staff Writer 29-01-16 12:48

The Reserve Bank has increased interest rates in South Africa by 50 basis points, a move that was expected and has been met with a mixed response, although the markets immediately reacted positively with the rand strengthening. The announcement was made on Thursday by Reserve Bank governor Lesetja Kganyago. According to news reports, this means the rate at […]

jse

Joburg Stock Exchange Opens Outpost in Cape Town

By SAPeople Staff Writer 27-01-16 16:22

JOHANNESBURG – The Johannesburg Stock Exchange (JSE) is opening a new office in Cape Town, the JSE said in a statement on Tuesday. The JSE said the move was to enhance its service to clients, build and strengthen relationships, and provide accessible support to the market. The city has increased its footprint in the financial services […]

davos wef

Large SA Delegation Heads to World Economic Forum in Switzerland

By SAPeople Staff Writer 20-01-16 08:00

DAVOS, SWITZERLAND – A delegation of at least 55 people headed by President Jacob Zuma is busy making its way from South Africa to Switzerland to take part in the World Economic Forum, which starts on Wednesday and will reportedly be a tough one for Africa. The South African group at Davos will include government members, and business and […]

ethiopian airlines joburg india

What SAA and the Government Could Learn from Ethiopian Airlines

By SAPeople Staff Writer 18-01-16 20:18

South African Airways is in dire straits. According to an internal memorandum of 6 November 2015 made public by the media last month, SAA is technically insolvent and thus guilty of reckless trading. It is therefore legally obliged under the Companies Act to file for either liquidation or business rescue. On 24 December, Citigroup withdrew […]

tesla

Elon Musk’s Tesla Company to Enter the SA Market

By SAPeople Staff Writer 11-01-16 13:20

The Pretoria-born, U.S.-based business magnate and innovator Elon Musk is eyeing out the market for some of his products in South Africa, where he will open an office and possibly even a factory, according to a series of recent reports. Short on the heels of the local development comes news that Musk announced on the weekend that within two years some Tesla […]

allan gray

South African Fund Manager Gives Company Profits to Charity

By SAPeople Staff Writer 08-01-16 12:10

In a Mark Zuckerberg-like gesture of incredible kindness and philanthropy, the head of a Johannesburg-based fund manager controlling $35 billion has given his family’s controlling stake in the company to a charitable foundation, according to news reports and a statement by the company. Control of Allan Gray and its Bermunda-based partner Orbis Investment Management has been transferred to the […]

agoa pact

South Africa Says Deal Reached with U.S. Over Poultry

By SAPeople Staff Writer 07-01-16 19:24

PRETORIA – South Africa said on Thursday it had come to an agreement with the U.S. at the 11th hour over poultry imports that were threatening to sabotage the country’s preferential access to the U.S. for several agricultural products. “All outstanding issues on AGOA (the African Growth and Opportunity Act) have been agreed upon and finalised and negotiations have […]

netflix

More Entertainment Options as Netflix Launches in South Africa

By SAPeople Staff Writer 08-01-16 08:56

The successful U.S. streaming entertainment company Netflix has broadened its global outreach to South Africa, where it launched this week and goes up against local streaming company ShowMax, which began in 2015. South Africa is one of 130 countries that will get Netflix from Wednesday. The latest move means that Netflix is now available in […]

saa

SAA’s Myeni Reined in by Finance Minister Gordhan on Airbus Deal

By SAPeople 22-12-15 06:26

PRETORIA – South African Airways has been told to go ahead with the deal that had been backed by former finance minister Nhlanhla Nene before he was sacked by President Jacob Zuma, it was announced on Monday night. The transaction will see SAA swap the purchase of 10 A320 aircraft for a lease of five […]

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