SA’s “Big Four” banks hit by R27bn bad debt charges

Source: 123RF. The firm recalculated certain amounts and ratios using publicly available data for comparability. Despite a challenging operating environment, the report highlighted that these banks have still achieved positive growth during the first six months of 2024. The “Big Four” banks’ combined headline earnings rose by 2.5% to R56.8bn, while bad debt hit R27.1bn….

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SA Rugby, Coca-cola announce four-year sponsorship deal

Springboks Rugby team. 3 minutes Amidst an internal audit into the proposed equity deal and while rugby unions around the world struggle to make ends meet, South African Rugby has entered into a new deal with a world-renowned brand. SA Rugby and global soft drinks manufacturer, Coca-Cola, will collaborate in a new four-year partnership, which…

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Msimang calls for independent inquiry into criminal justice system

ANC Veteran Mavuso Msimang. The African National Congress (ANC) veteran Mavuso Msimang says the best way to deal with the allegations of corruption within the criminal justice system is to establish an independent inquiry as soon as possible. This after the KwaZulu-Natal Police Commissioner, Nhlanhla Mkhwanazi, accused Police Minister Senzo Mchunu and several senior police…

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Govt begins process of releasing Ithala depositors’ funds

FILE | Ithala bank’s Ndumo branch in KwaZulu-Natal. Ithala depositors have begun flocking to branches designated to pay out their funds in KwaZulu-Natal as government begins the process of releasing funds. The National Treasury has made available up to R2.2 billion to start being paid out this week through FNB branches. Depositors are being sent…

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