South African Reserve Bank Row Exposes ANC Divisions

By Reuters 06-06-19 10:18

JOHANNESBURG – A row centring on the South African central bank – the Reserve Bank – exposed deep divisions in the governing ANC party on Wednesday, as a faction loyal to President Cyril Ramaphosa opposed calls from a rival group for the bank to do more to boost employment and growth. The dispute between a […]

Tax Return Submission Raised to R500,000 for South Africans

By SAPeople 05-06-19 08:32

Taxpayers with an annual income not exceeding R500 000 will no longer be required to submit tax returns. The announcement was made by the South African Revenue Service (SARS) Commissioner Edward Kieswetter during the launch of the 2019 tax season on Tuesday. This year’s tax season will begin on 1 July for submissions on digital […]

Loadshedding Leaves South African Economy Deep in the Red

By Reuters 04-06-19 16:58

South Africa’s economy saw its sharpest contraction in a decade in the first quarter of 2019 as the dreaded power cuts – nicknamed loadshedding locally – hurt key sectors like manufacturing and mining, another sign that President Cyril Ramaphosa’s growth drive is struggling to gain traction. Data on Tuesday showed the economy was 3.2% smaller […]

eskom south africa electricity

IMF Urges South Africa to Speed Up Reforms, Particularly with Eskom, to Boost Growth

By SAPeople 03-06-19 16:41

JOHANNESBURG – South Africa‘s subdued economic growth could be reignited if the implementation of structural reforms, including at troubled state power utility Eskom, is accelerated, the International Monetary Fund said on Monday. The fund said following President Cyril Ramaphosa’s re-election last month, a focus on policy actions to remove long-standing constraints to growth and accelerate […]

South African Student Wins Big in Germany at Future Leaders Forum

By SAPeople 31-05-19 15:43

South African student Emilé Coetzee made her family, university and country proud last week as she was crowned the winner of Future Leaders Forum at the World Exhibition for Incentive Travel, Meetings and Events (IMEX) in Frankfurt, Germany. The North West University student beat five other international finalists to scoop the prize – a scholarship […]

Cape Town Targets New Air Routes to Boost South African Tourism

By Reuters 31-05-19 13:42

CAPE TOWN – Cape Town plans to add routes to Australia and South America after last month reaching a deal with United Airlines for its first direct flight to the United States, the head of air access for South Africa’s top tourist city said. This’ll be good news for Western Cape expats in those regions, […]

South Africa’s FirstRand Cuts Fees as ‘War’ with New Rivals Escalates

By Reuters 30-05-19 09:52

JOHANNESBURG – FirstRand is to become the latest South African lender to slash prices on its retail banking products, as the arrival of a host of new, cheaper rivals sparks a scramble for customers among South African banks. FirstRand’s move, announced on Thursday, to cut fees and up rewards on its current accounts from July […]

Financial Emigration: Requirements and Misconceptions

By SAPeople Contributor 24-05-19 16:41

There is a lot of misinformation circling in the South African expatriate community about the amended expatriate tax law taking effect on 1 March 2020 and the process of Financial Emigration… writes Melanie Browne. We often have clients approach us where they have been subjected to scaremongering or solicited by “one-man” bands promoting their own […]

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. […]

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