South African rands. 1 minute The rand has continued to weaken further against major currencies amid an ongoing selloff in the financial markets triggered by the US tariffs. The currency fell sharply against the US dollar to R19.41. The local unit briefly plummeted to a record low of R25 against the British Pound earlier in…
Tax-related material on a desk. 2 minutes African National Congress (ANC) President Cyril Ramaphosa says the Value-Added Tax (VAT) increase decision is not final, as the National Treasury has about 30 days to find possible alternative options to raise the money it needs. The party’s president was speaking during a media briefing at Chiawelo in…
President Cyril Ramaphosa. 2 minutes African National Congress (ANC) President Cyril Ramaphosa has hit out at the business fraternity for what he says was trying to dictate political terms in the fallout between the ANC and the Democratic Alliance (DA). Ramaphosa says the ANC will not be influenced by business and emphasised that the party…
SARB 3 minutes The Reserve Bank has been celebrating the first anniversary of the Corporation for Deposit Insurance (CODI). Established in April last year, CODI seeks to ensure that part, if not all bank depositors’ funds are protected in the event of a bank failure. Funded by the banking sector, currently, CODI has a coverage…
File image: Houses for rent. 1 minute The Free State Development Corporation (FDC) is cracking down on rent and business loan defaulters. FDC’s Acting CEO, Kgotso Tau says they are taking tough action to ensure that what is owed to the corporation is paid. Tau says the FDC has over 3300 rental clients and 1200…
[FIE IMAGE]: Striking Nehawu workers at the SABS headquarters earlier this year. 1 minute Parliament’s Portfolio Committee on Trade, Industry and Competition is visiting the South African Bureau of Standards (SABS) headquarters in Pretoria, as part of their oversight work. Minister Parks Tau has launched an investigation into corruption and maladministration at the State-owned Enterprise….
One of Eskom’s Open Cycle Gas Turbines 2 minutes Eskom says the national grid is strained by high demand and inclement weather set to continue until Wednesday. The latest data from Eskom shows the power utility ramped up its use of open cycle gas turbines since Wednesday last week. “Loadshedding remains suspended, however, the power…
A worker seen at a farm. 2 minutes Democratic Alliance (DA) leader John Steenhuisen has warned that the 31% tariffs imposed on South Africa by the US pose challenges for the Agriculture Industry and could jeopardise thousands of jobs across the sector. The Trump administration’s global import tariffs have come into effect. The US has imposed…
Wallet, cash, pocket image. 1 minute Over four municipalities in the Northern Cape are contravening Section 13A of the Pension Fund Act 24 of 1956 by withholding third-party payments to various municipal pension funds. MEC of Finance, Economic Development and Tourism, Venus Blennies-Magage, last month warned implicated Chief Financial Officers and senior officials that they…
5 minutes South Africa has adopted an investment roadmap to fund the expansion and modernisation of its transmission infrastructure. Government aims to tap into the private sector’s resources to raise R440 billion for the rollout of transmission infrastructure in the next 10 years. South Africa amended the Electricity Regulation Act going into 2025 to allow…
