The South African rand has taken a battering in recent weeks and months as dreams of holidays abroad remain just that – a dream. Load shedding, close links with Russia and a strong dollar – among several other factors – have hurt the rand as South Africans batten down the hatches and prepare to weather […]

The South African rand jumped on Thursday, clinging to gains made since the start of the week on a weakening dollar and encouraging domestic data. Reuters: The South African rand jumped on Thursday, clinging to gains made since the start of the week on a weakening dollar and encouraging domestic data. SOUTH AFRICAN RAND JUMPED […]

Former Public Protector Advocate Thuli Madonsela fell victim to a WhatsApp scam and lost thousands of rands. Madonsela took to Twitter to share with her followers how her friend’s WhatsApp was hacked and the alleged hacker asked for money for months on end. THULI MADONSELA SCAMMED ON WHATSAPP The person whose WhatsApp was hacked was […]

The South African Revenue Service (SARS) has announced the start of the 2023 tax season will begin in exactly one month from today on Friday, 7 July. Access the SARS website for your 2023 tax filing HERE SARS has begun running updates for its mobile efiling platform in preparation for the season and has already started populating taxpayer profiles […]

Money makes money and these 10 people have made a lot of it over the years. Here is a list of the 10 richest people in the world today. ALSO READ: Rand Report: Rand finds stability as US debt deal concludes The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. South African-born Elon Musk is […]

The South African rand has been spiraling lately, recording all-time lows against major currencies. More in this weekly rand report. The South African rand has been spiraling lately, recording all-time lows against major currencies. Confidence in South Africa is plummeting, with political problems taking center stage and conveniently diverting attention from the ever-present load shedding […]

Here are some useful tips to help you get on top of your finances during these very challenging financial times. Due to the cost of living crisis, many South Africans are battling to make ends meet and uphold the standard of living they are used to. Rising fuel costs, increasing energy prices and surging inflation […]

Fuel prices in Nigeria have stirred debates as they have trippled immediately after swearing in of the newly elected President Bola Tinuku. Commuting to work in Lagos, Nigeria’s megacity of some 20 million people, has long been a hellish affair, but a surge in petrol prices is making it even worse. Fuel prices have almost […]

Money makes money and these 10 people have made a lot of it over the years. And by a lot, we mean a LOT! ALSO READ: SA weather update: High waves and winds expected in some parts The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. South African-born Elon Musk is the new richest person in […]

The rand hit a new record low against the dollar on Thursday, 1 June amid concerns about South Africa’s relationship with Russia – and several other troubles in the country. ALSO READ: Alleged arms supply to Russia puts SA’s arms control in question The rand reached R19.88/$ in early trading. For reference, a month ago on 1 May, it was trading at R18.40 to the dollar. AT THE TIME OF […]

With the youth now facing new challenges, government interventions targeted at helping young people are making a difference in the lives of many. South Africa’s youth has always been at the forefront of change. The young people of 16 June 1976 fought for a cause that would change history. Today’s youth continue this legacy despite […]

As the Sterling rises against a weaker dollar on Tuesday, stickier than expected British inflation remains in focus ahead of a quiet week for the country’s data calendar. Reuters: As the Sterling rises against a weaker dollar on Tuesday, stickier than expected British inflation remains in focus ahead of a quiet week for the country’s […]

Finally, IMF has for the second time in 8 years approved millions of dollars with Ghana and it has already disbursed the first tranche. In mid-May 2023 the International Monetary Fund (IMF) finally approved a US$3 billion 36-month arrangement with Ghana. It immediately disbursed the first tranche of US$600 million. This is the second time […]

China is an important economic player in Africa. In 2021 alone, China accounted for nearly US$5 billion in foreign direct investment in African countries. The rapidly increasing Chinese presence across Africa has become a contentious issue both for Beijing and African governments. In particular, mega projects funded by China have resulted in public controversies about […]

The SARB voted to hike interest rates by 50 basis points on Thursday. This is how much a R1 million bond will now cost every month. The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) voted to hike interest rates by 50 basis points on Thursday. That decision took the country’s repurchase rate to 8.25% while the prime lending […]

The SARB Monetary Policy Committee has voted to hike interest rates by 50 basis points, dealing yet another blow to South Africans in debt. The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) voted to hike interest rates by 50 basis points on Thursday, dealing yet another devastating blow to South Africans in debt. FOR THE LATEST […]

South African Reserve Bank’s (SARB’s) Monetary Policy Committee voted to hike interest rates in the country by 50 basis points on Thursday. South African Reserve Bank’s (SARB’s) Monetary Policy Committee voted to hike interest rates in the country by 50 basis points on Thursday. MUST READ | DEVELOPING STORY: Constantia mass murder – police on scene This will take the repurchase […]

With a bank balance of over R800 million, ActionSA has questioned how convicted rapist Thabo Bester was able to open his bank account. The party’s Free State chairperson Patricia Kopane, has written to the commissioner of the Financial Sector Conduct Authority (FSCA), Unathi Kamlana to seek clarity on the matter. REVEALING BESTER’S IDENTITY On Monday, […]

Reuters: The South African Rand strengthened on Monday amid relief that South Africa’s credit rating was not downgraded and bets on a large interest rate hike, with a central bank announcement the main focal point of the week. SOUTH AFRICAN RAND STRENGTHENED At 1001 GMT, the rand traded at 19.2500 against the dollar, about 1.08% […]

Consumers are under a lot of financial strain. The World Economic Forum reports that the cost-of-living crisis is affecting people across the globe. With food and fuel prices rising, it’s becoming increasingly difficult to keep financially afloat. On top of that, salaries aren’t keeping up with inflation, making it more difficult to save and build […]

Money makes money and these 10 people have made a lot of it over the years. And by a lot, we mean a LOT! ALSO READ: Industrial policy: US laws to promote African industries The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. France’s Bernard Arnault is the new richest person in the world having surpassed […]

Article originally published on GroundUp By Steve Kretzmann The Post Office has been deducting pension fund contributions from workers’ salaries, but the last time any money was paid over to the retirement fund was in April 2020. Authorities will not say how much is owed to the retirement fund, but it may be R1-billion. If the Post Office […]

There is a rising number of consumers who find themselves battling with banks through the Ombud for Banking Services South Africa, you can take a wild guess who is leading the list. ALSO READ: Titanic shipwreck captured in first full-sized 3D scan – PICTURE CONSUMERS COMPLAINING VIA THE OBS South African consumers are increasingly bypassing […]

It’s still too early to predict what lies ahead for both petrol and prices in early June, but the latest data from the Central Energy Fund (CEF) remains good for motorists in South Africa, BUT … ALSO READ: KFC rubbishes Romeo Malepe’s claims of stealing his kota idea Looking ahead, fluctuations in international product prices and rand weakness show the following […]

The recently released unemployment statistics reveal that the unemployment rate in South Africa rises again in the fourth quarter. ALSO READ: Ramaphosa more of a ‘country-club manager’ than a president, says De Ruyter SLIGHT INCREASE IN UNEMPLOYMENT RATE IN Q4 Statistics South Africa has published the results of the Quarterly Labour Force Survey (QLFS) for Q3 2023, […]