Government announces more support for micro, small enterprises

24 May 2020, 3:06 PM
Minister of Small Business Development, Khumbudzo Ntshavheni, has announced a second-wave of support programmes for informal, micro and small enterprises, which include cooperatives based in townships and villages.
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Khumbudzo Ntshavheni
SABC to ask government for budget review due to COVID-19 20 May 2020, 11:48 AM

The South African Broadcasting Corporation (SABC) says it will ask government for a review of its budget for this financial year, due to an expected steep shortfall in revenue as a result of the coronavirus pandemic.

Business Rescue Practitioners say Comair can possibly be rescued 20 May 2020, 11:37 AM

The Business Rescue Practitioners for embattled Comair, Shaun Collyer and Richard Ferguson, believe there are prospects for the airliner to be rescued. The practitioners met with creditors and employees to discuss the future of the airline.

Travel agents deny cash refunds for cancellations 20 May 2020, 9:35 AM

Travel agents say they have no choice but to deny cash refunds to those who have cancelled their travel plans.

Asian stocks adrift as vaccine rally falters 20 May 2020, 5:17 AM

MSCI’s broadest index of Asia-Pacific shares outside Japan was flat.

Oil prices ease on dim economic outlook despite signs of firmer demand 20 May 2020, 4:48 AM

Oil prices dipped on Wednesday as concerns over the lasting economic fallout from the coronavirus pandemic outweighed signs of improving demand and production cuts by major oil producers.

Johnson & Johnson to stop selling talc-based baby powder in US and Canada 20 May 2020, 3:21 AM

Johnson & Johnson on Tuesday announced that it would stop selling its talc-based Johnson’s Baby Powder in the United States and Canada, making the decision after a consumer products “portfolio reassessment related to COVID-19.”

Department publishes COVID-19 mine safety rules for SA 19 May 2020, 7:28 PM

The Department of Mineral Resources and Energy on Tuesday published safety rules for mines operating during the coronavirus pandemic and said failure to implement them would be a criminal offence.

Lafarge Africa halts capex and warns of second-quarter sales drop 19 May 2020, 6:50 PM

Lafarge Africa will freeze capital expenditure this year, Chief Executive Khaled El Dokani said on Tuesday after the cement company forecast a drop in second-quarter sales as the coronavirus pandemic hits demand.

Growthpoint Properties provides rent relief to nearly 1 500 small firms in SA 19 May 2020, 6:00 PM

South Africa’s Growthpoint Properties said on Monday it had provided rent relief to 1 494 small, medium and micro enterprises (SMMEs) hit by a lockdown to contain the novel coronavirus pandemic.

Two more SARS staff members test positive for COVID-19 19 May 2020, 4:55 PM

 The South African Revenue Service says it is concerned that two more staff members have tested positive for COVID-19.

Egypt to provide $6 bln in loan guarantees to aid business 19 May 2020, 4:49 PM

Egypt’s central bank will provide up to 100 billion Egyptian pounds ($6.36 billion) in loan guarantees to banks to encourage lending to businesses during the coronavirus crisis, the state news agency quoted the bank’s governor as saying on Tuesday.

Unions take pay cuts, BRPs and SAA execs refuse 19 May 2020, 12:07 PM

A majority of unions at SAA have decided to take a pay cut to mitigate the impact of the coronavirus pandemic which has seen all flights grounded.

Mall owners struggle to collect rent amid lockdown 19 May 2020, 6:37 AM

Some shopping mall owners have been battling to collect rent from retail stores amid COVID-19 pandemic.

Oil prices lifted for fourth day by signs of output cuts and demand pick-up 19 May 2020, 4:07 AM

Oil prices rose on Tuesday, extending gains for a fourth straight session, amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic.

Dollar loses out on growing optimism about virus vaccine 19 May 2020, 3:26 AM

The dollar nursed losses against major currencies on Tuesday after encouraging data from the trial of a vaccine for COVID-19 reduced safe-haven demand for the greenback.

Asia shares set to follow Wall Street rally on vaccine hopes 19 May 2020, 3:07 AM

Asian shares were set to rise on Tuesday after data from an early-stage trial for a coronavirus vaccine lifted hopes for a near-term economic recovery, sending global equity markets and oil prices surging.

Economists forecast another interest rate cut for SA 18 May 2020, 6:00 PM

The majority of economists in a SABC News Survey expect the Reserve Bank to cut the repo rate this week. Nine out of 11 economists surveyed expect the Reserve Bank to cut the repo rate by between 25 basis points and 100 basis points.

Mxolisi Kaunda
KZN municipalities experiencing a sharp decline in revenue collection 18 May 2020, 5:54 PM

KwaZulu-Natal municipalities are experiencing a sharp decline in revenue due to the impact of the COVID-19 lockdown.

Total calls off plan to buy Occidental Petroleum’s Ghana assets 18 May 2020, 3:45 PM

Total has called off a plan to acquire Occidental Petroleum’s assets in Ghana, which was conditional on the completion of the acquisition of Occidental’s other assets in Algeria, the French energy company said on Monday.

SCOPA wants proper breakdown of SAA financials 18 May 2020, 12:25 PM

Parliament's Standing Committee on Public Accounts (SCOPA) says it wants a proper breakdown of how the money given to South African Airways (SAA) in the past five months since it was placed under business rescue, was spent.

Business organisation Sakeliga heads to court over lockdown regulations 18 May 2020, 8:26 AM

Business organisation Sakeliga says national government is overstepping its boundaries regarding the control of provincial governance on the nationwide lockdown regulations.

Jerome Powell
Fed’s Powell says full economic recovery may require coronavirus vaccine: CBS 18 May 2020, 3:28 AM

Federal Reserve Chairman Jerome Powell said a U.S. economic recovery may stretch deep into next year and a full comeback may depend on a coronavirus vaccine.

Saldanha Bay entrepreneur adapts business to keep afloat during lockdown 17 May 2020, 9:44 PM

Some small businesses have adapted their operations during the lockdown to keep people employed and the economy going. One young female entrepreneur in Saldanha Bay, on the Cape West Coast, has done just that. She's expanded her small clothing business.

Gwede Mantashe
Mantashe pleased with measures implemented by Impala Platinum mining company to combat COVID-19 17 May 2020, 8:07 PM

Mineral Resources Minister, Gwede Mantashe says he is pleased with measures put in place by the mining company, Impala Platinum, to ensure the early detection of those mineworkers who have contracted COVID-19.

Marula Platinum Mine COVID-19 situation catches Mantashe’s attention 17 May 2020, 3:16 PM

Mineral Resources Minister, Gwede Mantashe is expected to meet with Limpopo Premier, Stan Mathabatha and management of the Marula Platinum Mine in Bela Bela this afternoon.

UK’s Gove says EU trade deal can be done despite talks stalemate 17 May 2020, 1:04 PM

British Cabinet Office minister Michael Gove said on Sunday that there was a post-Brexit trade deal to be done with the European Union (EU) providing the bloc compromised its stance, days after both sides said talks were making little progress.

Kuwait, Saudi to halt oil production from joint field: Al Rai newspaper 17 May 2020, 3:23 AM

Kuwait and Saudi Arabia have agreed to halt oil production from the joint Al-Khafji field for one month, starting from June 1, Kuwait's Al Rai newspaper reported on Saturday.

Insurance companies receiving more life insurance claims 16 May 2020, 8:13 PM

More and more credit life insurance companies are seeing an uptick in the credit life insurance policy claims.

Phophi Ramathuba
More Limpopo mineworkers test positive for COVID-19 16 May 2020, 4:31 PM

Thirteen mineworkers from the Marula Platinum Mine outside Burgersfort in Limpopo have tested positive for COVID-19.

Nersa allows Eskom to recover R13.3 billion in tariffs 16 May 2020, 2:09 PM

South African energy regulator Nersa says it will allow power utility Eskom to recover R13.3-billion from customers for electricity supplied in the 2018/19 financial year, lower than what the state-owned power utility had applied for.