South Africa’s Central Bank Leaves Repo Rate Unchanged at 6.75 %

By Reuters 24-05-19 00:09

South Africa’s central bank kept its benchmark repo rate unchanged at 6.75 % on Thursday, saying while the medium-term inflation forecast had moderated, economic growth was set to contract in the first quarter and continue to weaken. “Recent monthly inflation outcomes have remained around the mid-point of the inflation target range, in part due to […]

South African Banking Experiences A Shake Up with Digital Low-Fee Accounts

By Reuters 22-05-19 14:46

JOHANNESBURG – South Africans were offered low-fee, digital accounts by two “traditional” banks this week in a sign of how competition from a new breed of cheaper, online-only rivals is driving change in the $30 billion market. Young, tech-savvy and cost-conscious South Africans are being targeted by low-cost, digital-only newcomers such as Discovery, ThymeBank and […]

Jamie Oliver Shuts Most UK Restaurants with 1,000 Left Jobless

By Reuters 22-05-19 01:01

LONDON – British celebrity chef Jamie Oliver’s restaurant chain went into administration on Tuesday, leaving 1,000 people without jobs as the majority of branches ceased trading immediately in the latest blow for Britain’s high street. Oliver, 43, a well-known figure in Britain and beyond for his popular TV shows and top-selling cookery books, founded his […]

Bangkok Is Getting Its 1st South African Restaurant, Shebeen!

By SAPeople 19-08-20 15:09

The ever-growing number of South African expats living in Thailand are about to get a major taste of home, with a new SA-flavoured restaurant in Bangkok due to open its doors to the public within a fortnight! The restaurant – Shebeen – is billed as the first fully-fledged South African restaurant to open in Bangkok. […]

F1 in Talks with Kyalami and Marrakesh for African Race

By Reuters 16-05-19 16:22

As has been discussed over the years, Formula One definitely wants to return to Africa… but it’s not only South Africa’s Kyalami circuit that’s keen to host the race. Commercial managing director Sean Bratches said on Thursday that Kyalami and the Moroccan city of Marrakesh have expressed interest in fan festivals on their territory. Rwanda […]

Left to Fend for his Family at 15, Today he is a Successful Trader

By Guest Contributor 16-05-19 12:10

Fruit and vegetable vendor Norris Phaswana started earning money from trading when he was 15. Today, Phaswana, 44, sells fruits and vegetables from his old Toyota Hilux bakkie, in Kruger Street, Louis Trichardt. He supports a wife and eight children from his business. He comes from Nzhelele, about 30 km from Louis Trichardt. The family […]

Why you should get your maize meal at SPAR this week?

South Africa’s Spar in Final Talks to Buy Polish Retail Chain

By SAPeople 15-05-19 16:51

There’s welcome news for South African expats in Poland and South African retailer SPAR Group Ltd announced on Wednesday that it is in the final stages of talks to buy a controlling stake in Polish retail chain Piotr i Pawel group. Spar is seeking to boost its European operations, said Reuters. “The SPAR group has […]

South African Unemployment Rises, in Challenge for Ramaphosa

By SAPeople 14-05-19 12:38

PRETORIA – South Africa’s unemployment rate inched up to 27.6% in the first quarter, official data showed on Tuesday, underscoring the scale of the economic challenge faced by President Cyril Ramaphosa after his ANC party won re-election. Ramaphosa is trying to revive the South African economy after a decade of slow growth and rising joblessness. […]

Ramaphosa’s Economic Reforms in Focus as ANC Adjusts to Smaller Majority

By Reuters 13-05-19 18:34

Boosting South African growth and overhauling bloated power firm Eskom are post-election priorities for the African National Congress, but a reduced majority may force President Cyril Ramaphosa to compromise on those and other economic reforms. Ramaphosa took office in February 2018 with a pledge to revive a sclerotic economy and attract foreign investors. But as […]

South Africa’s 2019 Wine Harvest Set to Hit Lowest in More Than a Decade

By Reuters 06-05-19 18:53

JOHANNESBURG – South Africa, the world’s eighth largest wine producer, is expected to harvest its smallest amount of wine grapes in 14 years this year, as dry conditions and fluctuating weather hit output, an industry report said on Monday. The report by Vinpro, which represents 2,500 South African wine grape producers, wineries and wine-related businesses […]

WATCH Classic South African Ad Brings Icons Together for EDGE

By SAPeople Contributor 03-05-19 12:35

So, imagine this. Local and international stars of South Africa’s most memorable beer and cider ads walk into a bar. Sounds like the start of a joke. Instead, it’s a recipe for magic in yet another brilliant South African commercial – a witty ad for Distell’s new beverage, EDGE. Picture the scene. Savanna’s Barry Hilton […]

SAA’s vanity vaccine flight to Brussels

South African Airways Agrees $642 Million Debt Rollover Deal in Principle

By SAPeople 30-04-19 13:47

State-owned South African Airways (SAA) has reached an agreement in principle with lenders to roll over $642 million of debt, its CEO said on Tuesday, giving him room to execute a turnaround aimed at weaning the airline off government bailouts. South African President Cyril Ramaphosa has made a point of supporting ailing state firms like […]

Diamond Larger Than A Tennis Ball Found In Botswana Mine

By Reuters 26-04-19 00:21

The largest uncut diamond in recent history has been unearthed in a mine in Botswana. It’s larger than a tennis ball, and second only to South Africa’s famous Cullinan Diamond. The announcement was made Thursday by Lucara Diamond Corp which found the treasure at its Karowe mine in Botswana, beating the Canadian company’s own record […]

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