Business

Former Steinhoff CEO Markus Jooste. Analysts say the recent settlement of the Steinhoff matter is a crucial step closer to remediation for the beleaguered company. This comes as the South African Reserve Bank (SARB) has officially “put the Steinhoff matter to bed” through a comprehensive settlement amounting to R6.3 billion, including interest. The settlement follows…

Johannesburg Water has officially taken over the billing functions for water and sanitation services from the City of Johannesburg, effective from the 1st of this month. The responsibility, previously handled by the metro’s Revenue Shared Services, has been transferred to the water utility in a move aimed at improving efficiency. While customers will still receive…

North West MEC for Economic Development and Environment, Bitsa Lenkopane, is facing criticism from opposition parties following her announcement that the Urban Blue International Gas-to-Power Plant project in Matlosana will proceed in the 2025/2026 financial year. The R15 billion project, initially halted and later handed over to the City of Matlosana earlier in 2025, was…

A FlySafair aircraft. Wage talks under the facilitation of the Commission of Conciliation, Mediation and Arbitration (CCMA) to bring to an end strike action by FlySafair pilots will resume this afternoon. FlySafair and trade union Solidarity met at the union’s office on Wednesday for hours until late in the night as the two try to…

Consumer inflation edged higher in June. Stats SA data show that the annual consumer price inflation was 3% in June, up from 2.8% in May. The main positive contributors to the 3 percent annual inflation rate were housing and utilities, food and non-alcoholic beverages, and alcoholic beverages and tobacco. Between May and June, the CPI increased…

Passengers are seen at FlySafair counters at the O.R. Tambo International Airport. No agreement has been reached in talks between FlySafair and trade union Solidarity which is representing the airline’s pilots. The two parties met at the Commission for Conciliation, Mediation and Arbitration (CCMA) in Centurion, Gauteng yesterday. The union is demanding a 10.5% wage increase however, the employer is offering…

MultiChoice logo is displayed outside the company’s building in Cape Town, South Africa The Competition Commission has welcomed the approval of the proposed merger between the French media company CANAL-Plus and MultiChoice. The Competition Tribunal conditionally approved the over R30 billion deal on Tuesday that could significantly transform the local media landscape. The merger sets…

Aerial view of food aisles in a supermarket. Household budgets remain under pressure amid the rising cost of goods as inflation edges up from 2.8% in May to 3.0% in June. Statistics South Africa’s (Stats SA) latest released data shows that consumer inflation rose on the back of higher food prices, which have reached a…

A shopper pushes a trolley outside a Mr Price branch at the Trade Route Mall in Lenasia on 08 February 2023. South African clothing retailer Mr Price reported a 6.3% rise in its first-quarter sales on Wednesday, with comparable store sales up 3%, supported by the shift of Easter holidays into April and a timely winter…