‘South Africans spend 63% of their income to service debt’

18 October 2019, 3:03 PM
South Africa is heading towards a debt bubble with many consumers spending most of their disposable income to service debt.
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SABC probes security tender allegations 21 March 2018, 6:59 AM

SABC Board Chairperson Bongumusa Makhatini says allegations that some Board members are involved in an irregular security tender at the public broadcaster, are being investigated.

Joseph Mathunjwa
Mathunjwa calls Mantashe ‘a horrible minister’ 20 March 2018, 8:53 PM

The march by the Association for Mining and Construction Union to the Union Buildings has been marred by Mineral Resources Minister Gwede Mantashe's decision to leave the venue without receiving the union's memorandum of demands.

Guptas summoned by India tax officials 20 March 2018, 8:07 PM

The probe against the Gupta brothers in India has picked up pace. The brothers have time until March 26 to appear before the tax authorities.

Deputy President David Mabuza
Land central to economic inclusion: Mabuza 20 March 2018, 6:23 PM

Deputy President David Mabuza says radical economic transformation is the result of frustration of lack of economic inclusion.

The Gupta brothers, Atul and Ajay
SAP Germany aware of business with Guptas 20 March 2018, 4:05 PM

German software company SAP finalised its investigation into contracts with Eskom and Transnet and on the 8 of March 2018, admitted making payments to Gupta-linked companies.

Zikalala wants to ensure SMMEs are equipped for economic development 20 March 2018, 2:02 PM

The KwaZulu-Natal MEC for Economic Development, Tourism and Environmental Affairs Sihle Zikalala says government wants to ensure that small, medium sized and micro enterprises are equipped to be able to participate in the development of the economy.

SA and Ghana move to deepen bilateral economic relations 20 March 2018, 1:30 PM

The High Commissioner of South Africa in Ghana, Lulama Xingwana says that South Africa and Ghana should strengthen and consolidate bilateral economic relations and promote intra-Africa trade. 

SA’s February CPI down to 4% 20 March 2018, 12:01 PM

Analysts are upbeat about the prospects of the economy with strong expectations of a drop in inflation. 

Ekurhuleni taxi violence slammed 20 March 2018, 10:46 AM

Ekurhuleni MMC for Transport Petrus Mabunda has condemned the violence by minibus taxi drivers on Gatueng's East Rand.

WATCH: Joint Standing Committee on Finance briefing 20 March 2018, 10:40 AM

The Joint Standing Committee on Finance wants the South African Reserve Bank and various statutory and regulatory bodies to explain what is being done to rescue the VBS Mutual Bank.

Kingon to act as SARS commissioner 20 March 2018, 10:29 AM

The Presidency says it appreciates the public's desire to see an urgent resolution to the suspension of SARS Commissioner Tom Moyane.

Pauw not surprised by Moyane’s suspension 20 March 2018, 8:57 AM

Author, Jacques Pauw says he is not surprised by the suspension of South African Revenue Service (Sars) Commissioner, Tom Moyane.

Nene expected to appoint acting SARS commissioner 20 March 2018, 6:56 AM

Finance Minister Nhlanhla Nene is expected to announce the appointment of acting SARS commissioner soon.

Unions to march against R20 per hour minimum wage 20 March 2018, 6:13 AM

The South African Federation of Trade Unions (Saftu) and the National Union of Metalworkers of South Africa (Numsa) will march to the Gauteng Legislature in Johannesburg this week against the R 20 an hour minimum wage which they've described as a joke.

No job losses amid Listeriosis outbreak, says Tiger Brands 19 March 2018, 9:17 PM

Tiger Brands says there have been no job losses since the company shutdown its Pretoria factory where traces of the listeria bacteria have been discovered.

Post Bank, Ithala banking licence approval under spotlight 19 March 2018, 7:10 PM

Government owned Post Bank and Ithala Development Finance Corporation were brought under the spotlight in the past week with VBS Mutual Bank being put under curatorship.

EDC ecstatic over grounding of Gupta-owned jet 19 March 2018, 5:42 PM

EDC says it looks forward to the return of the luxury private passenger jet that the Guptas bought on very favourable terms.

CAA to act in accordance with High Court ruling 19 March 2018, 3:04 PM

The Civil Aviation Authority of South Africa says it will act in accordance with the ruling of the High Court in Johannesburg which orders the Gupta family to hand over the Bombadier Global 6000 aircraft to the bank, Export Development Canada.

Rob Davies
Davies leaves for India to attend WTO meeting 19 March 2018, 9:55 AM

Trade and Industry Minister Rob Davies travelled to New Delhi in India on Sunday to attend an informal World Trade Organisation ministers meeting on March 19 and 20, the Trade and Industry Department (dti) said.

Satawu strike set to disrupt Toll plaza operations 19 March 2018, 9:14 AM

Motorists and commuters using toll plazas across the country are expected to be affected as members of trade union SATAWU down tools.

BEE farm project was doomed to fail: farmer 18 March 2018, 5:34 PM

An established farmer brought in to help with a BEE project at a farm at De Doorns in the Western Cape says beneficiaries were set up to fail.

SABS dysfunction puts all South Africans at risk: DA 18 March 2018, 3:12 PM

The dysfunction at the South African Bureau of Standards (SABS) is putting all South Africans at risk, the Democratic Alliance (SA) said on Sunday.

Medscheme recovers millions in healthcare fraud, waste and abuse 18 March 2018, 1:12 PM

Medscheme, South Africa's largest manager of medical schemes has recovered over R107 milllion claimed fraudulently and through waste or abuse.

Seven firms bid for majority stake in Zambian oil refinery 18 March 2018, 11:01 AM

Seven firms have submitted bids to buy majority stake in Zambia's sole 24 000 barrels per day Indeni Petroleum Refinery, an executive at the agency handling the bidding said on Saturday.

Abrogation of property rights to undermine SA economy, says Maimane 17 March 2018, 8:04 PM

Any abrogation of private property rights will fundamentally undermine South Africa’s economy and lead to much greater poverty and unemployment, Democratic Alliance leader Mmusi Maimane said on Saturday. Briefing journalists in Johannesburg following the two-day meeting of the DA’s federal executive, Maimane urged government to distribute the more than 4300 state-owned farms and more than […]

Tom Moyane
Due processes followed in Gupta tax refund: SARS 17 March 2018, 8:48 AM

A South African Revenue Service lawyer has defended Commissioner Tom Moyane on allegations that he allowed a R70-million VAT refund to the Guptas.

Media 24 logo
Media24 agrees to pay R14 m for cartel conduct 17 March 2018, 7:22 AM

The South African Competition Commission said on Friday that Media24 has admitted to price fixing and the fixing of trading conditions and agreed to pay about R14 million in a settlement agreement with the commission.

Nehawu members picket for performance bonuses 16 March 2018, 7:40 PM

The National Education, Health and Allied Workers' Union in Gauteng took to the streets of Johannesburg to picket for performance bonuses.

Conference calls for debate into National Minimum Wage 16 March 2018, 5:08 PM

A CCMA labour conference is in its final day of intense debates about the state of readiness for the implementation of the National Minimum Wage.

SA allays investors’ fears over land expropriation 16 March 2018, 11:15 AM

Deputy Finance Minister Mondli Gungubele says land expropriation without compensation is a regular topic in their discussions in New York.