CAPE TOWN – South Africa will bail out state utility Eskom with R69 billion ($4.9 billion) over three years, the centrepiece of a budget on Wednesday that exposed the limited room President Cyril Ramaphosa has to fix the economy ahead of an election in May. Ramaphosa, who is fighting rifts within his own party ahead […]

Government’s Infrastructure Fund is set to receive a R100 billion over the next decade as the state steps up its infrastructure programme by partnering with the private sector. “Government is stepping up its infrastructure build programme by partnering with the private sector, development finance institutions and multilateral development banks to create an infrastructure fund,” said […]

In the 2019/20 financial year Government will AGAIN increase excise duties on alcohol and tobacco in an effort to raise much-needed revenue for the national fiscus, Finance Minister Tito Mboweni said on Wednesday. According to the National Treasury’s 2019 Budget Review report, the adjustments will lead to an excise burden slightly above the targeted levels. […]

Work is afoot to reconfigure the South African electricity sector by addressing challenges faced by Eskom, with the board of the first subsidiary of the power utility to be appointed by mid-2019, Treasury said on Wednesday. Following President Cyril Ramaphosa’s State of the Nation Address (SONA) last month in which he announced government’s plan to […]

South Africa will inject 23 billion rand ($1.63 billion) a year over the next three years into state power utility Eskom but will NOT take on 100 billion rand of debt as requested by the struggling firm, the national budget showed on Wednesday. The Treasury said the first step in a plan announced by President […]

Tabling a difficult budget that required him to weigh priorities against a need for fiscal consolidation, Finance Minister Tito Mboweni kicked off his speech by saying that by doing things right, the country can return to “plum” times. A part-time farmer himself, Mboweni told the nation on Wednesday afternoon that it is time for the […]

A rescue package for Eskom, South Africa’s most important state firm, is expected to dominate Finance Minister Tito Mboweni’s budget speech on Wednesday, with the struggling power utility at risk of collapse without a large bailout. Eskom supplies 90 percent of South Africa’s electricity but is drowning in 420 billion rand ($30 billion) of debt […]

Budding South African designer Thebe Magugu has been crowned the winner of the International Fashion Showcase (IFS) 2019 at London Fashion Week. The judges said Thebe had created a “striking visual impact but with real clarity” and called him “a leader of his generation”. In his winning presentation titled Dawning, Magugu used motifs from Africa’s […]

BP employee Beverley Plaaitjies has taken it upon herself to beautify the ladies restroom at BP Buffeljagsrivier with flowers. According to BP Buffeljagsrivier Manager Maraine Klein, it was all her idea and so she brings flowers from home or borrows from locals to create her floral bouquets – and as if that is not enough, she […]

President Cyril Ramaphosa says the government has asked traditional leaders to rally behind government to ensure that the five urgent priority tasks that he announced in his State of the Nation Address, are implemented. The President said this when he addressed the official opening of the National House of Traditional Leaders at the Old Assembly […]

German haute-couture designer Karl Lagerfeld, artistic director at Chanel and an icon of the fashion industry with his extravagant outfits and striking catwalks, has died aged 85. Instantly recognizable in his dark suits, pony-tailed white hair and sunglasses, Lagerfeld was best known for his association with Chanel but delivered collections for LVMH’s Fendi and his […]

The Saldanha Bay Industrial Development Zone has signed new investment agreements, which bring the total number of signed investors to eight and investment value to over R3 billion. These investors include international stakeholders from the United Kingdom, Europe, the Middle East and Africa, with the rest being local companies. All these investors are investing in […]

South African billionaire Patrice Motsepe said on Monday that he would NOT buy any assets which struggling state power firm Eskom puts up for sale, in response to speculation that he was eyeing an Eskom financial subsidiary. President Cyril Ramaphosa, who is Motsepe’s brother-in-law, this month unveiled a plan to split Eskom into three units […]

Xolisa Shenxani (18) from Sir Lowry’s Pass Village in Cape Town, has had his heart set on becoming a commercial pilot from a young age despite coming from a disadvantaged background. “I used to look up into the air and see helicopters fly over my house but I didn’t know what they were. I thought, […]

Caster Semenya has said the International Association of Athletics Federations (IAAF) breached confidentiality regulations ahead of her appeal hearing on Monday where she is fighting for her athletics future. The South African 800-metres double Olympic champion is seeking to overturn a new set of IAAF regulations that are aimed at lowering the testosterone levels of […]

Following the conclusion of President Cyril Ramaphosa’s State of the Nation Address (SONA) and the debate by Members of Parliament – the focus now turns to the 2019 Budget. On Wednesday, Finance Minister Tito Mboweni is scheduled to deliver the 2019 Budget Speech and introduce the associated Bills during the plenary sitting of the National […]

Technology has made a tremendous difference in the world, in areas as diverse as health and education, and pretty much everything in between. But is technology the weapon that will ultimately eradicate animal poaching and save various species from eradication? It’s not a silver bullet, but it certainly has potential. That’s why Vulcan – a […]

Former Land Bank chief executive officer Philemon Mohlahlane, 63, has been sentenced to seven years in prison for defrauding the entity of six million rand. His co-accused, Member of Parliament Ruben Mohlaloga, 45, and attorney Dinga Rammy Nkhwashu, 41, were on Thursday also handed 20 and 24 year imprisonment sentences, respectively, by the Pretoria Specialised […]

The Department of Environmental Affairs will from Monday embark on a week-long robust public awareness drive to urge South Africans to protect and conserve wetlands in the North West province. According to the department, the campaign forms part of South Africa’s activities in marking the World Wetlands Day celebrated on 02 February 2019. This year’s […]

Engen’s “With us you are Number One” brand promise took on a new meaning last week when pump attendant Bongani Dyanti became a mini-celebrity for his customer service, which was so outstanding that one of his customers, Brian De Beer posted a story about his experience on Facebook. Brian said: Bongani, what an awesome person! I stopped […]

Former ambassador to Iran, Yusuf Saloojee, was arrested by the Hawks on Thursday and subsequently made a brief court appearance at the Johannesburg Specialised Commercial Crimes Court on the same day facing charges of corruption. Saloojee, 75, has been a subject of the Hawks’ Serious Corruption Investigation unit following allegations that he allegedly partook in […]

“We are losing profits. Our clients are impatient and always in a hurry. They can’t wait for about two and a half hours.” Toni Burton started Zizamele Ceramics in 2008. Located in Masiphumelele, a small township in the south of Cape Town, she employs nine people. She has trained them to do ceramics. She and […]

South African firm Bosasa has applied for voluntary liquidation after its lenders said they would close its accounts due to reputational risk, the firm said in a statement on Monday. “The extensive reputational damage in the past few months, occasioned by negative media reports, has resulted in financial institutions determination that the… group poses a […]

South African Airways (SAA) has reached a settlement with Comair following a protracted legal battle, saying it paves the way for the airline to reach financial sustainability. “The finalisation of this case marks the conclusion of one of the disappointing legacy matters that dragged on for far too long and was overdue. The current airline […]

The Traffic Law Enforcement Committee has invited members of the public to provide comments on the future and direction of road traffic law enforcement in South Africa. The Committee was set up in 2017 by the Minister of Transport. To date, it has engaged with a wide range of organisations consulting on the way forward […]