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, […]

Even at mid-May, it’s still too early to predict what lies ahead for both petrol and prices in June, but the latest data from the Central Energy Fund (CEF) remains good for motorists in South Africa, BUT … Looking ahead, fluctuations in international product prices and rand weakness show the following under-recoveries (price increases) or over-recoveries (price decreases) for petrol […]

The South African rand firmed in early trade on Monday, recovering from an all-time low hit against the dollar last week as investors were spooked by possible sanctions amid U.S. allegations. SOUTH AFRICAN RAND REGAINS SOME GROUND At 0750 GMT, the rand traded at 19.050 against the dollar, 1.45% stronger than its previous close. The […]

Money makes money and these 10 people have made a lot of it over the years. And by a lot, we mean a LOT! These are the 10 richest people in the world today. ALSO READ: Gauteng government aims to hire 6 000 people to fix potholes The Bloomberg Billionaires Index is a daily ranking of the world’s […]

Cape Town, known for its natural beauty, is home to South Africa’s “most exclusive suburbs and streets”, according to the Africa Wealth report for 2023. ALSO READ: LOOK: Inside Cape Town’s spectacular Iron Man Villa: A futuristic architectural masterpiece CAPE TOWN SUBURBS DOMINATE THE ‘MOST EXPENSIVE’ LIST The local-based global wealth intelligence firm said while […]

It’s too early to predict what lies ahead for the price of fuel in June, but the latest data remains good for SA motorists, BUT … SHOPPERS | Cheapest groceries in South Africa: Checkers v Woolworths v Pick n Pay – and more Looking ahead, fluctuations in international product prices and rand weakness show the following […]

Money makes money and these 10 people have made a lot of it over the years. And by a lot, we mean a LOT! These are the 10 richest people in the world today, with Bernard Arnault being at the top of the list. ALSO READ: Apple to launch its first online store in Vietnam next […]

Apple will launch its first online store in Vietnam next week, the company said Friday, hoping to cash in on the country’s young and tech-savvy population. The iPhone maker is among a host of global tech giants including Intel, Samsung and LG, that have chosen Vietnam for assembly of their products. But up to now, the […]

According to experts, South Africans can afford to breath a sigh of relief in 2023 as food prices are expected to drop. South Africans can breathe a sigh of relief as experts predict that prices are set to drop this year. ALSO READ: LIST: Vehicles that are mostly targeted in hijackings in South Africa FOOD PRICES […]

The furore over the alleged spelling mistake on the new R100 note is far from over – experts are now disputing the explanation for the change given by other experts. READ: PanSALB confirms ‘mistake’ on R100 note is actually correct XITSONGA EXPERTS DISMISS PANSALB’S EXPLANATION FOR ALLEGED SPELLING MISTAKE ON NEW R100 NOTE The new […]