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13 November 2018 8:59 AM Court orders VBS Bank to be liquidated

The North Gauteng High Court has granted an order to liquidate VBS Mutual Bank. This after the South African Reserve Bank's Prudential Authority applied for the final liquidation of the mutual bank. The bank's curators have previously identified its financial state "as hopelessly insolvent" and that there was no prospect of it being saved 20

08 November 2018 8:19 AM Debit fraud: Here is how SA's big 4 banks are handling it

For bank account holders who have been victims of debit order fraud, banks have heard their concerns and have taken steps to prevent it. The four major banks – ABSA, Standard Bank, Nedbank and FNB – have partnered with the Payments Association of South Africa [PASA] to stop unauthorised debit orders going off clients' accounts. PASA's offering DebiCheck 25

06 November 2018 4:28 AM Debit order fraud: Beware of sharing your banking details

Consumers must be careful when sharing personal information that could be used by fraudsters to make unauthorised debit orders, Payments Association of South Africa CEO Walter Volker has warned. Banks are working with the Payments Association of South Africa (PASA) to deal with debit order fraud – a situation when some companies process debit orders 23

05 November 2018 4:53 PM Madagascar: three presidents, three crises

Madagascar's past three presidents, all in the running against 43 other candidates in the presidential vote on November 7, each had their terms tarnished by political crises. Marc Ravalomanana, a former milkman turned millionaire milk mogul is declared winner of the presidential election in 2002 after a crisis lasting nearly seven months against outgoing 22

01 November 2018 5:32 PM Female cop under fire after posting to Instagram an image in uniform while showing off tattoo

Pinetown police officer constable Sanele Sophazi has stirred up controversy after she shared an image of herself while in SAPS uniform with a visible tattoo, on her Instagram. The 30-year-old Durban based police officer has a great following on her social media and occasionally shares images of herself dressed in uniform. In the image shared which landed 18

04 October 2018 8:08 AM Rand weakens in early trade as strong dollar keeps pressure on

The rand weakened by 0.5% against the dollar in early trade on Thursday, with analysts saying it will likely remain under pressure throughout the day. The local currency opened Thursday morning at 14.65/$ and was changing hands at 14.71/$ at 08:18. This after it lost 2% against the greenback on Wednesday due to a combination of a rise in US treasury 28

07 September 2018 11:15 AM Tencent and Alibaba bring their battle for supremacy to coffee

Chinese internet giant Tencent upped the ante on rival Alibaba in their race to corner the market for the country’s coffee drinkers. Tencent signed a strategic partnership agreement with local chain Luckin Coffee on Thursday, according to official WeChat accounts for the companies. The tie-up will explore robotic delivery of orders as well as payments 118

29 August 2018 9:01 PM Nigeria orders MTN, banks to refund $8bn in exported funds

Nigeria ordered four banks including Citigroup Inc. and Standard Chartered Plc to refund more than $8bn (R115bn) it says was illegally expatriated by mobile-phone company MTN Group Ltd. over eight years through 2015. The central bank also included Nigeria’s Stanbic IBTC Holdings Plc and Diamond Bank Plc in the charge, which comes almost two years after 34

17 August 2018 8:39 PM Ten-man Maritzburg frustrate Amakhosi

The Team of Choice picked up their first point of the Premiership campaign in a hard-fought encounter, with Siphesihle Ndlovu having been shown a straight red card after 13 minutes. Amakhosi could not make their extra man count as their winless start to the 2018/19 season under Giovanni Solinas continued. In front of a full house the hosts flew out of the starting 33

14 August 2018 6:00 PM Burundi plans plastic bag ban

Burundi's president, Pierre Nkurunziza, has issued a decree banning the use of plastic bags in the small central African country within the next 18 months. "The manufacture, import, storage, sale and use of all plastic bags and other plastic packaging is prohibited," said the presidential order signed by Nkurunziza on Monday and seen by AFP Tuesday 39