Deutsche Bank is hiring 26 people in South Africa, a spokesman said on Wednesday, less than a year after scaling back the operation in a broad restructuring of its investment bank. The spokesman said the lender had appointed a new head of corporate finance coverage in South Africa and the remaining hires would mostly be […]

The Department of Women has lauded government’s efforts to support South Africa’s star athlete Caster Semenya through her legal challenge of the International Association of Athletics Federation’s ruling. The department said it is appalled at the IAAF ruling, which expects certain athletes to reduce natural testosterone levels through artificial chemical processes. The federation wants women […]

Ministers have widely welcomed Finance Minister Tito Mboweni’s 2019 Budget, saying he had done well in the largely unstable economic climate. Cooperative Governance and Traditional Affairs (Cogta) Minister Zweli Mkhize said Mboweni had a difficult budget amid rising debt and stunted economic growth. “The Minister has tried everything that can be done. It’s a very […]

South Africa is supposed to be a secular state, but one can perhaps forgive Tito Mboweni, the Minister of Finance, for quoting numerous biblical verses in his 2019 Budget Speech. After all, South Africa’s fiscal situation is enough to make many people hope for divine intervention. The 2019 budget numbers show that the past year […]

“There are many opportunities in our townships, it is just a matter of finding them.” Unemployed for three years with nothing promising coming his way, 38-year-old Thulani Ngwenya has started giving tours through Gugulethu. “There are many opportunities in our townships, it is just a matter of finding them. Look at Khayelitsha for instance, there is […]

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 […]

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 […]

With the General Elections fast approaching, International Relations and Cooperation (DIRCO) Minister, Lindiwe Sisulu, has called on Heads of Mission around the world to rally behind the Electoral Commission (IEC) to allow for smooth elections for South Africans living abroad. “I have directed all Heads of Mission and Consular Generals to ensure that the IEC […]

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 […]

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 […]

Following the successful Armed Forces Day celebrations in six different provinces since 2013, the South African National Defence Force (SANDF) will descend to the City of Cape Town this month to honour the bravery of sons and daughters of our country who lost their lives in the fateful 1917 sinking of the SS Mendi. The […]

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 […]

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 […]