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04:45 VIEW: Africa's 10 wealthiest cities

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16:28 Top 5 on Fin24: Popo Molefe waiting on 'proper response' from Transnet's Gama, SA’s new energy plan is imminent

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  • PIC moves to discipline another executive

    16 September 2018 5:02 AM 85

    Bongani Mathebula, the suspended company secretary of the embattled Public Investment Corporation (PIC), was summoned to a disciplinary hearing this week for allegedly leaking information. Mathebula was one of six senior officials at the PIC personally investigated by the company’s CEO, Dan Matjila, last year, following claims that Matjila had caused

  • VIEW: Africa's 10 wealthiest cities

    15 September 2018 4:45 AM 56

    Four South African cities feature on the top 10 wealthiest list in Africa, according to the Africa 2018 Wealth Report - Johannesburg, Durban, Cape Town and Pretoria. The report unpacks wealth trends in Africa over the past 10 years. It defines "wealth" as the net assets of a person in US dollar terms - including property, cash, equities and business

  • JUST IN: Court sets aside Nedlac decision on Solidarity strike

    14 September 2018 12:06 PM 158

    The South Gauteng High Court in Johannesburg has ruled against a decision by the National Economic Development and Labour Coucil (Nedlac) to refuse an application by trade union Solidarity for all its 180 000 members to go on strike countrywide in protest against a black economic empowerment share scheme impacting some of its members at Sasol. While

  • Absa opens UK office, hopes to profit from post-Brexit trade in Africa

    13 September 2018 11:59 AM 97

    Absa, which recently rebranded following its separation from Barclays, has announced the launch of its UK office. The bank and financial services group described the move as part of a growth strategy as “investors and businesses look to an increasingly stable and prosperous Africa for opportunity in a post-Brexit environment”. “We have an ambitious growth

  • Another bad month for mining production in July

    13 September 2018 10:06 AM 24

    There was no respite for South Africa's miners in July, as Stats SA announced yet another fall in production when compared to a year ago. Mining production fell by 5.2% in July 2018 when compared to July 2017, with major dips in gold and iron ore, and smaller dips in coal and platinum group metals. If it wasn't for sterling diamond production figures

  • VAT: Give us the chicken, organisations appeal to Parliament

    12 September 2018 12:42 PM 29

    Including chicken on the zero-vat list will be beneficial for the health of poor South Africans, and ultimately ensure the productivity necessary to stimulate economic growth, a committee has heard. Parliament’s Standing Committee on Finance (Scof) heard submissions from the public on the VAT panel’s report. The public had until August 31 to make submissions

  • Retail trade sales up by 1.3% as appliances, clothing show growth

    12 September 2018 11:27 AM 30

    Retail trade sales for July grew by 1.3% year-on-year in real terms - with appliances and clothing indicating significant growth, Stats SA announced on Wednesday. NKC African Economics had forecast a 1.3% year-on-year increase in an earlier note to clients. Stats SA said that seasonally adjusted retail trade sales increased by 1.3% in July compared with June 2018. This follows

  • WATCH: The costs of US wars post 9/11

    11 September 2018 8:39 PM 36

    It's been 17 years to the day since the tragic September 11 attacks in the US which claimed the lives of almost 3 000 people. The costs of war since then have increased exponentially. The US' post 9/11 wars in Afghanistan, Iraq and Pakistan have resulted in around 400 000 direct and an estimated 800 000 indirect civilian deaths. The combined total of 1.2 million

  • Terms of Chinese loan to Eskom still confidential, says Ramaphosa

    11 September 2018 2:31 PM 37

    President Cyril Ramaphosa reassured members of the National Council of Provinces that Eskom would not be taken over if it defaulted on its $2.5bn (R33bn) loan from the Chinese Development Bank. The original question came from Democratic Alliance member Cathleen Labuschagne, who asked for the terms of the Chinese state bank's loan to Eskom, as well as a separate

  • Trade war with US could cost China millions of jobs, warns JPMorgan

    11 September 2018 11:00 AM 35

    The tariff battle with the US will probably cost China 700 000 jobs, or more in the event of further escalation. The job losses would come if the US imposes 25% tariffs on $200bn in Chinese exports and China retaliates by devaluing its currency by 5% and adding to levies on US goods, according to economists led by Haibin Zhu at JPMorgan Chase & Co. If China