South African Rand

SA Reserve Bank Hikes Repo Rate to 6.25% in Battle Against Inflation

By SAPeople 22-09-22 18:55

The South African Reserve Bank’s Monetary Policy Committee (MPC) has hiked the repurchase rate (repo rate) by 75 basis points. This increase means the repo rate will now be 6.25% per year from tomorrow (Friday) 23 September 2022, with prime now at 9.75%. The level of the repurchase rate is now closer to the level prevailing […]

Steinheist Unravels SA's Biggest Corporate Scam

‘Every South African Needs to Watch This.’ Steinheist Unravels SA’s Biggest Corporate Scam

By SAPeople 22-09-22 12:38

Once billed as “the Ikea of Africa,” Steinhoff employed over 130 000 people on over 40 brands across four continents. Steinhoff-owned companies every South African will know include giants like Ackermans, Incredible Connection, Morkels, Pennypinchers, PEP, Russells, Tekkie Town, and Timbercity. On 5 December 2017, CEO Markus Jooste resigned amid an investigation into accounting irregularities, […]

The pension of former National Lotteries Commission executive Phillemon Letwaba has been frozen. Photo: Ashraf Hendricks

Former Lottery Exec’s Pension Frozen as Corruption Probe Hots Up

By SAPeople 22-09-22 09:35

The pension of former National Lotteries Commission chief operating officer Phillemon Letwaba has been frozen by the Special Tribunal. The Special Tribunal has frozen the R2.8-million pension of former National Lotteries Commission chief operating officer Phillemon Letwaba. This follows an application by the Special Investigating Unit, which was authorised in 2020 by President Cyril Ramaphosa […]

President Ramaphosa: Energy Crisis MUST Be Resolved

President Ramaphosa: Energy Crisis MUST Be Resolved

By SAPeople 20-09-22 10:49

President Cyril Ramaphosa says resolving the energy crisis is critical to ensure that the economic and investment potential of the country is realised. His comments come after South Africa was plunged into Stage 6 load shedding for the second time this year, prompting the President’s urgent return to the country during an international trip. Households […]

Ramaphosa-Naledi-Pandor-5_RC2PJW9UM3F9_RTRMADP_3_BRITAIN-ROYALS-QUEEN

President Ramaphosa to Miss UN General Assembly Due to Power Crisis in South Africa

By SAPeople 19-09-22 20:05

JOHANNESBURG, Sept 19 (Reuters) – South African President Cyril Ramaphosa will miss the United Nations General Assembly this week, instead returning home from Britain to address a national power crisis, his spokesman told local media including television channel eNCA. State-owned power utility Eskom moved to “Stage 6” electricity outages on Sunday for only the third […]

Eskom CEO Andre De Ruyter: Eskom’s Working ‘Flat Out’ to Restore Energy to Grid

De Ruyter: Eskom’s Working ‘Flat Out’ to Restore Energy to Grid

By SAPeople 19-09-22 12:57

Eskom CEO, Andre de Ruyter, says the power utility is working hard to bring back failing generation units and restore stability to the grid. His pledge comes after multiple trips, breakdowns and delays in return to service at generation units caused the implementation of Stage 6 load shedding over the weekend. De Ruyter said teams […]

The Deputy President told MPs that the police and the Department of Mineral Resources and Energy will appoint specialised teams in each province to fight illegal mining.

Specialised Teams Will Fight Illegal Mining in South Africa

By SAPeople 16-09-22 11:06

Deputy President David Mabuza has acknowledged that illegal mining is a major challenge in South Africa, and says that the Department of Mineral Resources and Energy will appoint specialised teams in each province to fight illegal mining. “It has grown to the point where it is a major source of concern not only for the […]

forex trading South Africa

9 Terms Every Forex Broker Needs to Understand

By SAPeople 12-09-22 10:32

To get into the world of forex trading, you will first require a credible broker. This broker has to be an expert in terms of knowledge, experience, and the links they have in the industry. There are certain terms that both trader and broker need to be aware of and understand in order to make […]

SA Passengers Affected by Cancelled Lufthansa Flights as Pilots Go On Strike

SA Passengers Stranded by Cancelled Lufthansa Flights as Pilots Go On Strike

By SAPeople 02-09-22 16:24

With a strike by pilots at Lufthansa today (Friday 2 September), hundreds of the German airline’s flights have been cancelled affecting an estimated 130,000 passengers, including those from South Africa. Passenger Liane Dickson was due to fly to Amsterdam from Johannesburg via Frankfurt, but the second leg of her flight was cancelled before she left […]

forex market liquidity

Forex Trading Concepts

By SAPeople Contributor 31-08-22 10:52

This blog post will discuss some of the most important concepts regarding Forex trading. We will cover topics such as what Forex is, how to trade Forex and the different strategies that can be used. If you are new to Forex trading or have some experience but want to learn more, this blog post is […]

Zimbabwe permit application dismissed: no need for it, say judges

Alberton Mom Wins Court Battle Against Medical Scheme

By SAPeople Contributor 30-08-22 16:26

An Alberton mom has won a significant court battle against her medical aid scheme forcing it to pay for an expensive drug that her three-year-old son needs to treat a rare inherited genetic disorder. A mother desperate to save her son has secured an interim order forcing Medihelp Medical Scheme to pay for an expensive […]

R75-Million in Assets Seized from Alleged Corrupt Cops

R75-Million in Assets Seized from Alleged Corrupt Cops in Blue Lights Tender

By SAPeople 28-08-22 13:12

The National Prosecuting Authority’s (NPA) Asset Forfeiture Unit (AFU) has seized some R75 million worth of assets from police officials allegedly involved in the controversial R191 million SA Police Service blue lights tender. The case relates to the allegedly fraudulent tender awarded to Instrumentation Traffic Law Enforcement (Pty) Ltd to fit and supply blue lights […]

9 Hunters Arrested and 32 Greyhounds Confiscated

9 Hunters Arrested and 32 Greyhounds Confiscated in Free State

By SAPeople 25-08-22 11:58

Trying to escape the jaws and teeth of 32 dogs when you are a tiny scrub hare, juvenile porcupine or small antelope must be a horrific race for survival, says the Bloemfontein SPCA. The comment comes following the confiscation of 32 Greyhounds, and arrest of nine hunters who were trespassing on a farmer’s land in […]

South Africa unions launch nationwide strike over the high cost of living

Hundreds Protest in SA Against Inflation

By SAPeople 24-08-22 19:00

Hundreds of South Africans protested in Pretoria, Cape Town and other cities around the country on Wednesday, 24 August, against inflation that has soared to a 13-year high, in an action led by trade union group COSATU. Protesters – holding  placards saying, “Stop Taxing Basic Food Items” – sang as they marched through central Pretoria […]

collateral-damage-carte-blanche

Carte Blanche Unpacks the Collateral Damage from Covid Rules

By SAPeople Contributor 20-11-22 18:15

This week Carte Blanche explores the psychological impact of pandemic rules – was the crisis management worth it in the end? South Africa’s top current affairs show meets parents who paid a high price at the peak of the pandemic. (Here’s the most up-to-date Carte Blanche this Sunday line-up.) « Our NICU story is sure to […]

South Africa loadshedding Eskom

Eskom Extends Stage 2 Loadshedding

By SAPeople 17-08-22 13:52

State power utility Eskom has confirmed that Stage 2 load shedding will be implemented from 4pm to midnight on Wednesday and Thursday. Eskom had warned on Tuesday afternoon that load shedding may be extended due to losses in generation capacity at some of its power stations on Tuesday evening. By Wednesday afternoon, the power utility […]

Thabang Mampane served as Commissioner of the Lottery for almost ten years. Massive corruption occurred during her ten-year term. NLC photo (fair use)

Lottery Boss Resigns with ‘Immediate Effect’

By SAPeople 16-08-22 14:56

The NLC was overwhelmed with corruption during Thabang Mampane’s tenure as Commissioner. By Raymond Joseph. The Commissioner of the National Lotteries Commission (NLC) has resigned “with immediate effect” just weeks before her term expires at the end of September. This is according to several sources. Thabang Charlotte Mampane served ten years as Commissioner — effectively […]

Dr Aaron Motsoaledi

10,000 Unemployed Graduates to Help Digitise Home Affairs

By SAPeople 11-08-22 14:45

Home Affairs Minister, Dr Aaron Motsoaledi, on Thursday announced that his department is set to recruit 10 000 unemployed young graduates for the digitisation of its civic paper records. The digitisation of civic services records was announced by President Cyril Ramaphosa during the State of the Nation Address (SONA) on 10 February 2022. Addressing media […]

KZN first female Premier sworn in

KZN First Female Premier Sworn In: Nomusa Dube-Ncube

By SAPeople Contributor 11-08-22 11:45

KwaZulu-Natal Premier-elect, Nomusa Dube-Ncube, has been sworn in as KwaZulu-Natal’s first female Premier during a special sitting of the Legislature held on Wednesday. Dube-Ncube, who was the MEC responsible for Finance portfolio, replaces Sihle Zikalala, who resigned last week as provincial Premier. Speaking at the swearing-in ceremony, Dube-Ncube assured that the office of the Premier […]

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