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  • Competition Commission nets global award on forex cartel case

    20 April 2018 6:43 PM 41

    The Competition Commission’s work on the foreign exchange cartel case saw it beat out competing agencies in the Asia-Pacific, Middle East and Africa region to win an international award. The commission was recognised as the Agency of the Year in Asia-Pacific, Middle East & Africa at the Annual Global Competition Review Awards held in Washington DC, it said in a statement

  • Stop delaying tactics and pay back R11m, Solidarity demands of Molefe

    20 April 2018 2:46 PM 35

    Cape Town – Trade union Solidarity has upped the ante in its efforts to get former Eskom CEO Brian Molefe to pay back R11m to the utility, in compliance with a recent high court ruling. The R11m relates to a R30m pension payout Molefe was given by Eskom. He lost an appeal bid at the South Gauteng High Court and was ordered to pay back the R11m he had already

  • Rand poised to hold its gains

    20 April 2018 11:39 AM 33

    The rand broke below the psychological R12/$ level this week and analysts expect it to hold onto its gains. The local currency opened at R11.96 on Friday morning and was trading at R12.02 to the greenback by 13:37. Analysts from NKC Economics expect the rand to trade within the range of R11.85 to R12.05 for the remainder of the day. “A rally in commodity

  • Edcon moves to a decentralised model

    20 April 2018 3:56 AM 32

    Johannesburg – Retailer Edcon has confirmed that the group does not plan to list on the JSE anytime soon. On Thursday the group's CEO Grant Pattison said it is up to the shareholders, and not the business executives to decide when the group will be listed. However, this is not one of its short- term goals. The group released its growth strategy for the year ahead

  • BREAKING: Transnet CFO Garry Pita resigns

    19 April 2018 4:43 PM 55

    Cape Town - Transnet on Thursday evening announced the resignation of its chief financial officer Garry Pita. "Mr Pita rendered his resignation after 12 years in service at Transnet," the group said in a statement. Pita joined Transnet in 2006. He was appointed as the group's CFO in February 2016, after serving as executive director since October 2015. Before

  • Private pensions index shows increased need for govt assistance

    18 April 2018 11:49 AM 37

    Cape Town - While the number of private pensioners grows, the total pensionable population in SA is growing faster, resulting in an increased need for government’s social assistance, according to economist Mike Schüssler. Commenting on the latest BankservAfrica Private Pensions Index (BPPI) released by BankservAfrica and on Tuesday

  • Eskom pushed consumers to electricity price ceiling

    17 April 2018 3:28 PM 35

    Cape Town - South African consumers have reached a price ceiling in terms of electricity tariff hikes, according to the Southern African Faith Communities' Environment Institute (Safcei). Kim Kruvshaar, an independent sustainability auditor, represented Safcei at public hearings by the National Energy Regulator of South Africa (Nersa) in Cape Town on Tuesday

  • Curro expands its Gauteng footprint

    17 April 2018 3:12 PM 32

    Johannesburg – Independent education provider Curro Holdings Limited [JSE:COH] has expanded its reach in Gauteng by acquiring Cooper College and Magic Beings Crèche. The company confirmed on Tuesday that the sales agreement to acquire 100% of the share capital of Cooper College was finalised on April 3. The “acquisition is aligned with Curro’s intention

  • Tariff hikes not the solution for Eskom, Nersa hears

    17 April 2018 12:08 PM 45

    Cape Town – Eskom’s liquidity issues can be more adequately resolved by addressing non-payment among users and by implementing the major cost cutting needed at the state-owned power utility. This was the view expressed by Leslie Rencontre, director of electricity distribution and generation at the City of Cape Town to the National Energy Regulator of SA (Nersa)

  • Nzimande touts the idea of a Sanral for SADC region

    17 April 2018 10:22 AM 26

    Cape Town – A road agency for the Southern African Development Community (SADC) could help support the development of infrastructure in the region as well as economic integration, Transport Minister Blade Nzimande suggested. Nzimande briefed Parliament’s portfolio committee on transport on his department’s annual performance plans for the 2018/19 year. In his closing