Steinhoff's United States unit, Mattress Firm, has filed for voluntary Chapter 11 bankruptcy protection to strengthen its balance sheet and support its parent company's debt restructuring, the South African company said on Friday.
Business, labour and government have agreed that the Jobs Summit should not be a once off solution to unemployment. They say they will work together on a number of initiatives to create jobs.
A co-ordinating and monitoring mechanism is to be established within the Labour Department to follow-up on implementation of the 24-point Framework agreement that was signed at the Jobs Summit in Midrand on Thursday.
Zimbabwe’s budget deficit swelled to $1.3 billion in the first half of 2018, nearly five times the initial target after government spending spiralled ahead of an election in July, a Treasury document showed on Thursday.
Organised Business at the Jobs Summit has committed to help dent the bloated unemployment rate.
South African President Cyril Ramaphosa announced a package of reforms on Thursday which he said would create 275,000 more jobs a year, in a bid to bring down sky-high unemployment and improve his own track record on the economy.
President Cyril Ramaphosa has told the Jobs Summit at Midrand, north of Johannesburg that government and business leaders have agreed on a package of measures that will create an additional 275 000 jobs a year.
President Cyril Ramaphosa has admitted that government will miss the National Development Plan target of reducing the country's unemployment rate to around 6% by 2030.
Government says it hopes that its business and labour partners attending the Jobs Summit in Johannesburg will be able to make tangible commitments to create jobs.
The Economic Freedom Fighters(EFF) has challenged government to make the financial guarantee letter available to the SABC to get funding to bring stability.
President Cyril Ramaphosa will open the much anticipated two-day Jobs Summit in Midrand north of Johannesburg on Thursday afternoon.
Energy expert, Chris Yelland says people can expect electricity price increases starting the 1st of April next year.
Business Unity South Africa (BUSA) says the signing of various proposed job agreements will take centre stage at the two-day Jobs Summit that will kick off on Thursday (04 October-2018) in Johannesburg.
Capacity constraints and the availability of capital to invest in new technologies are some of the obstacles impending the African continent from developing and producing its own oil and gas resources.
The revised Mining Charter has widely been accepted by the Minerals Council of South Africa and the sector.
The low economic growth environment coupled with poor investor confidence are translating to weak job creation prospects in the economy
The Department of Labour says it hopes for sweeping changes for those who draw Unemployment Insurance Fund (UIF) benefits when the amended act is signed into law.
Goldman Sachs expects South Africa’s economy to grow almost 3 percent next year, helped by President Cyril Ramaphosa’s reforms and strong global growth, the bank’s sub-Saharan Africa head told Reuters.
Sassa in Limpopo has distanced itself from people who are making social grant cash payments in the villages across the province.
Johannesburg waste management entity Pikitup is operating with limited capacity because its fleet contract has expired.
Motorists are lining-up at petrol stations across the country ahead of the midnight fuel price hike. The Energy Department announced fuel price increases of between 99 cents and R1.24 per litre in October.
Transport month kicked off on a good note for two young KwaZulu-Natal entrepreneurs. This after they launched their third oil tanker at Durban's port.
Hilton Worldwide Holdings plans to more than double its hotels in Africa in the next five years by mainly striking deals with existing hotels for conversion into its brand, its chief executive says.
South African energy regulator NERSA on Tuesday gave power utility Eskom the go-head to recover R32.69 billion ($2.25 billion) of costs incurred over the past three years through higher tariffs over a four-year period from 2019 to 2023.
The Communications Workers Union says retrenchments of workers in the communication and telecommunication sectors will worsen the country's high unemployment rate.
The sharp rise in the fuel price that will come into effect at midnight on Tuesday will have a negative impact on the agricultural sector.
There has been a slight improvement in consumer credit health in the quarter ending in June.
The weak rand is the main reason for the steep fuel price hikes that will come into effect after midnight today.
Gauteng Roads and Transport MEC Ismail Vadi has encouraged commuters to make use of public transport amid news of yet another hefty fuel hike.
Tourism Minister, Derek Hanekom, has welcomed the relaxation of visa regulations that made it harder for families with children to travel to South Africa.