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  • Mall of Africa confident about future, despite online retail growth

    28 April 2018 6:45 AM 45

    South African consumers famously love malls and according to Dion Chang’s Flux Trends report, 1 950 of the 2 082 shopping centres in Africa are in the country. However, online competition is growing as evidenced by the high number of online shoppers accessing websites on #BlackFriday, which led to several of them crashing in 2016 and 2017 because of the high demand

  • Ramaphosa admits national minimum wage is not a living wage

    27 April 2018 4:22 PM 29

    The national minimum wage is not a living wage, President Cyril Ramaphosa told crowds gathered at the Dr Rantlai Petrus Molemela Stadium in Bloemfontein for Freedom Day celebrations on Friday. “We have made important progress in improving the conditions of the working poor. “Parliament is currently finalising legislation so that we can implement a national

  • Steinhoff 'assessing' former chair Christo Wiese's R59bn lawsuit

    26 April 2018 3:52 PM 47

    Cape Town - Steinhoff on Thursday evening reacted to news that Christo Wiese had instituted a R59bn claim against it by saying in a short note it would "assess the claims and determine the appropriate course of action". Wiese resigned as Steinhoff's chair in mid-December 2017, nine days after the group's CEO Markus Jooste stepped down amid an accounting

  • SA billionaire Christo Wiese sues Steinhoff for R59bn

    26 April 2018 3:40 PM 39

    Cape Town - Companies in Christo Wiese’s Titan Group announced on Thursday they are suing embattled retailer Steinhoff for R59bn. The claims relate to investments made by Wiese’s companies in Steinhoff in 2015 and 2016, according to a statement issued by the Titan Group. Companies that make up the group are claiming cancellation of an agreement entered

  • Annual percentage change in PPI 3.7%

    26 April 2018 12:01 PM 43

    Cape Town - The annual percentage change in the Producer Price Index (PPI) for final manufactured goods was 3.7% in March 2018 compared with 4.2% in February 2018, Statistics SA announced on Thursday. From February 2018 to March 2018 the PPI for final manufactured goods decreased by 0.2%. The main contributors to the annual rate of 3.7% were coke, petroleum

  • Rand may have ‘run a little hard’ in falling below R12.50/$

    26 April 2018 8:48 AM 38

    Cape Town - The rand may have "run a little hard" in briefly falling below R12.50/$ on Wednesday, according to Andre Botha of TreasuryONE. The local currency gained 0.3% against the dollar in early trade on Thursday morning. At 10:22 it was trading at R12.39/$, after opening at R12.44. What direction it will take next is still fairly murky, with analysts

  • Namibian mobile operator slashes data pricing after SA #DataMustFall protests

    26 April 2018 8:02 AM 29

    Inspired by South African data protests, Namibian mobile operator Paratus has cut its data prices by a massive 80%. The operator announced in a statement that it reduced the cost per gigabyte from N$85 (R85) to N$15 (R15). "According to statistics from Research ICT Solutions (2018), Namibia rates 29th out of 52 African countries with regards to the cheapest

  • SA is costliest G20 country to send money from

    23 April 2018 3:45 PM 54

    In its analysis of trends in remittance service costs, the World Bank said South Africa remains the costliest G20 country to send remittances from in spite of an overall decrease from its peak in the first quarter of 2013, when the cost of sending money from South Africa was more than 20%. In its report for the first quarter of 2018, the World Bank said remitting

  • PetroSA saved (for the moment)

    22 April 2018 4:51 AM 41

    State-owned oil company PetroSA was been saved from an imminent R7.4 billion cash crunch by the minister of environmental affairs, Edna Molewa. On Friday Molewa gazetted an amendment to the financial provisioning regulations of the National Environmental Management Act. It gives companies with offshore oil or gas exploration or production rights granted

  • R1bn in PnP food credit shows consumers in dire straits, debt expert warns

    21 April 2018 12:35 PM 38

    Correction: This article has been amended to clarify that the R1bn refers to the total credit facility made available by Pick n Pay for cards. It does not refer to credit already taken up by customers, as Fin24 wrote in a previous version of this article. Johannesburg - Pick n Pay says it has granted R1bn for its credit cards facility which was launched