1 minute Statistics South Africa 2022/23 Income and Expenditure survey shows that black households face severe financial constraints compared to White, Indian, Asian and Coloured households. The income of black households which averages R143 000 annually is well below the South African average. The average income among white households is just over R670 000, Indian and…
KwaZulu-Natal Premier Hon. Thamsanqa Ntuli addressing the media regarding the financial affairs of Ithala SOC. 3 minutes The KwaZulu-Natal government says it will use all possible avenues to challenge the Prudential Authority’s application to liquidate Ithala SOC Limited. This was after the repayment administrator, appointed by the Reserve Bank, found that Ithala was technically and…
File image: Nehawu members down tools. 1 minute The National Education, Health and Allied Workers Union (Nehawu) is today expected to submit a memorandum of demands to the National Treasury and South African Reserve Bank (SARB) in a bid to prevent the impending liquidation of Ithala Bank. According to Nehawu, the bank’s more than 400…
File Image: The slow decay of the city is driving investors away. 1 minute The South African Property Owners Association (SAPOA) has raised concerns about the deteriorating state of municipal governance, warning that it poses significant risks to investor confidence. Property owners and investors are facing rising costs for essential services such as electricity and…
A Ithala Bank stand at an event. 1 minute An urgent application by Ithala SOC Limited has been postponed to Thursday in the Pietermaritzburg High Court. The application seeks to enforce an earlier court order allowing Ithala’s Board to manage its operations and bank accounts. The matter arises as the Prudential Authority moves forward with…
SASSA Head Office 3 minutes The North Gauteng High Court’s ruling ordering the government to remedy the defects in the regulations and change the design and administration of the SRD grant will go a long way to helping millions of households who depend on the grant for their livelihoods. That’s according to the Institute for Economic…
[FILE] Eskom has submitted a request to the National Energy Regulator of South Africa (NERSA) for approval of a revised tariff system. 2 minutes Johannesburg’s City Power has voiced its opposition to Eskom’s proposed tariff structure changes, citing concerns about the financial burden on consumers. Eskom has submitted a request to the National Energy Regulator…
Miners in a cave. 1 minute A new study by the Benchmarks Foundation has revealed that legitimate mining companies in South Africa are connected to syndicates that buy gold from illegal miners, known as Zama Zamas, and funnel it into the formal economy. The illegal operations also involve scrap metal dealers, security companies, and law…
Electricity and Energy Minister Kgosientsho Ramokgopa briefs the media. 1 minute The Minister of Electricity and Energy, Dr Kgosientsho Ramokgopa says there will not be a 36% electricity tariff hike in South Africa. Ramokgopa was speaking on the sidelines of the second day of the African National Congress (ANC) National Executive Committee (NEC) lekgotla being…
Trade Industry and Competition Minister Parks Tau. 4 minutes Plans by the Trade Industry and Competition Minister to set up a R100 billion Transformation Fund have received mixed reactions from those in the business community. The fund seeks to empower black business through the use of contributions made by big businesses in respect of the…
