Ramaphosa authorises public release of the final report of investigations by the SIU

25 January 2022, 1:11 PM
President Cyril Ramaphosa has authorised the public release of the final report of investigations by the Special Investigating Unit (SIU) into procurement by all spheres of government of goods and and services associated with the COVID-19 pandemic.
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Tourism could potentially boost SA’s GDP: Sisulu 25 January 2022, 11:15 AM

Tourism Minister Lindiwe Sisulu says they have learnt that tourism contributed more to the Gross Domestic Product under lockdown than under normal circumstances.

Steinhoff signage
Steinhoff to pay over R24 billion to settle claims 25 January 2022, 10:08 AM

The Cape Town High Court has approved over R24 billion in settlement claims in the Steinhoff case on Monday.

Western Cape conducts mega blitz inspections of hospitality industry amid COVID-19 24 January 2022, 9:57 PM

The Department of Employment and Labour Inspection and Enforcement Services in the Western Cape are conducting mega-blitz inspections

Nigeria suspends plan to scrap costly fuel subsidy 24 January 2022, 9:35 PM

Nigeria's government has suspended plans to remove its long-standing subsidy on petroleum products in July, Finance Minister Zainab Ahmed said on Monday, saying the timing was "problematic" amid rising inflation.

Mbalula unveils multi-billion rand private investment for Durban, Eastern Cape ports 24 January 2022, 6:15 PM

Transport Minister Fikile Mbalula has announced a multi-billion rand private investment by companies operating in the Port of Durban, the Richards Bay harbour, and in the Port of Ngqura in Gqeberha in the Eastern Cape.

National Treasury outlines plans for R11 billion World Bank loan 24 January 2022, 11:22 AM

The National Treasury has outlined its plans for the over R11 billion loan that the World Bank approved for South Africa.

Rand emerges as the best performing currency so far this year 24 January 2022, 10:41 AM

The rand has strengthened by nearly two percent last week against a basket of major currencies and has been the best performing emerging markets currency so far this year.

Renault, Nissan, Mitsubishi to unveil 2030 EV plan this week 23 January 2022, 5:05 PM

Renault SA, Nissan Motor Co and Mitsubishi Motors Corp plan to triple their investment to jointly develop electric vehicles (EVs), two people with knowledge of the plan told Reuters.

Free State farmers facing challenges following persistent heavy rains 23 January 2022, 8:39 AM

Farmers in parts of the Free State say they are facing a challenging period, with major losses of their wheat yield as a result of heavy rains. Consistent rains since November have left the groundwater locked and washed away some of the crops.

Bitcoin falls 9.3% to $36,955 23 January 2022, 12:02 AM

Bitcoin dropped 9.28% to $36,955.03 at 22:02 GMT on Friday, losing $3,781.02 from its previous close.

Risk of load shedding remains low this year: Eskom 22 January 2022, 9:05 PM

Eskom says the risk of planned power outages remains low this year. This is despite the big maintenance plan at its Koeberg Nuclear Power station in Cape Town that is set to take over five months.

SA’s first black female brewer takes local beer to the world following international exposure on social media 22 January 2022, 2:04 PM

The country's first black female brewer turned to social media after the company’s closure during the COVID-19 pandemic. Mawela turned to social media to market Tolokazi beer. This caught the attention of Beer52.

IMF board approves $455 mln loan deal for Congo Republic 22 January 2022, 12:01 PM

The executive board of the International Monetary Fund (IMF) approved on Friday a three-year extended credit facility worth about $455 million for the Republic of the Congo, the IMF said.

Council embarks on an advocacy programme to promote tourism in SA 22 January 2022, 9:07 AM

Chief Executive Officer of the Tourism Council of South Africa Tshifhiwa Tshivhengwa says they have embarked on an advocacy programme in a bid to start to promote the country again as an attractive tourist destination.

Consumers shouldn’t be subjected to Eskom’s proposed 20.5% tariff increase – Energy expert 22 January 2022, 4:59 AM

Energy expert, Clyde Mallinson says the maximum electricity tariff increase should be linked to the consumer price inflation rate.

Wall Street ends week down as Netflix disappointment deepens slide 21 January 2022, 11:25 PM

Wall Street's main indexes ended sharply lower on Friday as Netflix shares plunged after a weak earnings report that also weighed on rivals, and stocks ended a gloomy week on a sour note.

Eskom defends decision to apply for a 20.5% tariff increase as it needs to raise R6.5 billion 21 January 2022, 5:34 PM

Eskom says its decision to apply for a 20.5% tariff increase for the coming financial year still stands. This emerged during the National Energy Regulator's final public hearings taking place in Johannesburg.

SA gets R11.4 billion loan from World Bank towards COVID-19 response 21 January 2022, 7:41 AM

The World Bank has approved South Africa’s request for a $750 million loan (R11.4 billion at current exchange rates). In a joint statement issued by both World Bank and National Treasury, the loan is described as a low-interest development policy loan (DPL).

Safe-haven yen gains against Aussie as risk sentiment sours 21 January 2022, 3:55 AM

The safe-haven yen gained versus the riskier Australian dollar on Friday as risk sentiment soured amid rekindled fears of heated inflation and aggressive Federal Reserve policy tightening.

Netflix misses subscriber target, offers weak forecast 21 January 2022, 12:12 AM

Netflix Inc fell short of Wall Street forecasts for new subscribers at the end of last year and offered a weaker-than-expected forecast for early 2022 as rivals amped up the competition in the battle for streaming television viewers.

No plans for load shedding in near future, Eskom assures SA 20 January 2022, 7:04 PM

In its submission to the National Energy Regulator on the request for tariff increases, Eskom has assured South Africans that there are no plans for load shedding in the near future.

KZN tourism welcomes resumption of SAA, Qatar flights from King Shaka Airport 20 January 2022, 11:20 AM

The tourism and business sectors in KwaZulu-Natal have welcomed the resumption of South African Airways (SAA) and Qatar Airways flights from Durban's King Shaka International Airport.

Labour department sites lack of resources, capacity in hospitality sector 20 January 2022, 10:25 AM

The Department of Employment and Labour says lack of resources and capacity is impacting its ability to do its job properly.

Moyo awaits judgment on a court case to declare Old Mutual directors as delinquent 20 January 2022, 7:50 AM

Former Old Mutual CEO Peter Moyo has confirmed that he is still awaiting judgment on another case in which he wants the directors of Old Mutual declared as delinquent.

Heritage land dispute over Amazon’s new Africa HQ goes to court 20 January 2022, 6:33 AM

Groups representing the descendants of South Africa's earliest inhabitants, the Khoi and San, went to court on Wednesday to try to halt construction of Amazon's new 70 000-square metre Africa headquarters on land they regard as sacred.

World Bank chief takes swipe at Microsoft’s $69 bln gaming deal as poor countries struggle 20 January 2022, 1:07 AM

World Bank President David Malpass on Wednesday criticized Microsoft's $69 billion takeover of gaming developer Activision Blizzard as a questionable allocation of capital at a time when poor countries are struggling to restructure debts and fight COVID-19 and poverty.

Stocks slip on inflation concerns as oil prices rise further 20 January 2022, 12:00 AM

Strong US and European corporate results helped stock markets initially rebound on Wednesday, but rising crude prices kept inflation concerns alive and trading choppy even as bond yields eased after having touched fresh multiyear highs.

Experts say mining sector has role in moving SA towards green energy 19 January 2022, 8:09 PM

Experts say to achieve green energy, the mining sector will have to play an important role. This is because the resources needed to produce clean energy will have to be sourced largely through the sector.

Workers in North West tourism sector worried about their jobs after floods 19 January 2022, 4:22 PM

Job security for those employed in the tourism sector along the Vaal River system at Bloemhof in North West has been severely compromised following flooding in the area.

Former Old Mutual CEO Moyo argues there was no conflict of interest in NMT dividend payment matter 19 January 2022, 3:32 PM

Former Old Mutual Chief Executive Officer (CEO) Peter Moyo says there was no conflict of interest on his part with regards to the dividend payment matter which resulted in his axing as CEO.