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Oct 22, 2014
In the Medium-Term Budget Policy Statement Finance Minister Nhlanhla Nene has outlined concrete plans to consolidate South Africa’s pubic finances and restore macroeconomic balances. The proposed adjustments – lower than planned spending and increased tax revenues -...
Oct 22, 2014
Development financier Eastern Cape Development Corporation (ECDC) on Tuesday reported a stable balance sheet for the 2013/14 financial year, boasting a net asset value of R1-billion at year-end. Speaking at the financier’s performance results at the ECDC headquarters...
Oct 22, 2014
Finance Minister Nhlanhla Nene
Failed South African lender African Bank Investments (Abil) is likely to re-list on the stock exchange early next year, and its government supervision will be concluded without the use of taxpayer money, Finance Minister Nhlanhla Nene said on Wednesday. The central...
Oct 22, 2014
Government’s plans for reining in the country’s public procurement would be outlined in the Public Procurement Review, which will be published next month. Finance Minister Nhlanhla Nene told Parliament on Wednesday that the document would “clearly” outline the...
Oct 22, 2014
National Treasury this week froze the public personnel headcount and embarked on a review of funded vacancies in an effort to curb State spending and re-establish a sustainable foundation for the public purse. In his inaugural Medium-Term Budget Policy Statement...
Oct 22, 2014
Finance Minister Nhlanhla Nene
Fiscal consolidation could no longer be postponed, Finance Minister Nhlanhla Nene told lawmakers on Wednesday, while also announcing a R25-billion lowering of the expenditure ceiling and flagging plans to raise an additional R27-billion through higher taxes in the...
Oct 21, 2014
The Cape Town International Convention Centre (CTICC) has outperformed its targets over the past financial year and contributed R3.1-billion to the gross domestic product in the 2013/14 financial year. CTICC CEO Julie-May Ellingson said the convention centre had been...
Oct 21, 2014
Public Enterprises Minister Lynne Brown
Public Enterprises Minister Lynne Brown has released details of the remuneration of the chairpersons and nonexecutive directors of the various State-owned company boards falling under her Ministry. The remuneration figures, which are attached, are based on figures...
Oct 21, 2014
Oct 21, 2014
Article contains comments
Oct 20, 2014
Oct 20, 2014
Article contains comments
 
 
 
Oct 20, 2014
Resources, financial services and healthcare companies faced significant threats arising from changing legislation and political policy, a recent study by professional services firm Deloitte of the JSE’s top 100 companies has shown. To produce its Dissecting...
Oct 20, 2014
Article contains comments
Violence and intimidation during times of employee strike action has become commonplace and altering South Africa’s legislation is unlikely to end the aggressive stance taken by disgruntled workers. South Africa’s “root problem” was not only the consequence of a...
Oct 20, 2014
Article contains comments
Finance Minister Nhlanhla Nene
Finance Minister Nhlanhla Nene will have his work cut out at this week's budget to try and reassure disillusioned South Africans that the government still has gas in its tank to pull the economy out of the doldrums. Twenty years after Nelson Mandela swept the African...
Oct 17, 2014
TRANSNET FREIGHT RAIL The benefits to Transnet from the training are improvements in performance and productivity
The graduation of 85 employees of State-owned logistics company Transnet Freight Rail (TFR) in rail sciences planted the seeds for future rail industry growth and formed an integral part of TFR’s R201-billion rail infrastructure roll-out plans, Transnet CEO Brian...
Oct 17, 2014
Russian nuclear group Rosatom is confident that it could supply nuclear-generated electricity to the South African market from Generation III+ pressurised water reactors (PWR) at a price significantly below that of coal-, oil- or gas-generated electricity. Rusatom...
Oct 17, 2014
South African defence company Rheinmetall Denel Munition (RDM) is busy launching new products on to the international market. The company, 51%-owned by German group Rheinmetall and 49% by South Africa’s State-owned Denel group, designs, develops and manufactures...
Oct 16, 2014
Absa Capital economist Peter Worthington
Corporate and investment banking group Absa Capital says that, while the “worst is probably over”, South Africa’s current account deficit is likely to narrow only slowly in the coming year, owing to weakening terms of trade. Economist Peter Worthington noted that, at...
Oct 16, 2014
South Africa's economic growth will probably accelerate next year if labour relations don't deteriorate again and if the global economy holds up reasonably well, a Reuters poll found on Thursday. In a survey taken in the past week, the median forecast from 35...
Oct 15, 2014
Article contains comments
Noting that around half of the country’s active workforce had impaired credit records, workforce solutions provider Manpower South Africa has urged employers to take an active interest in their employees’ financial wellbeing. “It is estimated that the average worker...
Oct 15, 2014
Nedlac executive director Alistair Smith
National Economic Development and Labour Council (Nedlac) executive director Alistair Smith, who has resigned from the organisation, will continue in his role until January. He will, therefore, still play a central role at the upcoming Labour Relations Indaba, which...
 
 
 
 
Oct 15, 2014
Trade and Industry Minister Dr Rob Davies
The revised Department of Trade and Industry (DTI) Business Process Services (BPS) incentive launched on Tuesday, has taken into account South Africa’s increased maturity in terms of the services being offered, as the country is increasingly being asked to provide...
Oct 15, 2014
Article contains comments
Marking South Africa’s first large-scale effort towards harnessing the up to R177-billion economic potential of its coastline, President Jacob Zuma has officially launched Operation Phakisa – an initiative adapted from Malaysia’s Big Fast Results Methodology that...
Oct 15, 2014
A survey of all 475 JSE-listed companies has revealed that South African company directors, CEOs and CFOs are still predominantly white and male; however, there are “hopeful” signs of transformation within the younger generation. Research into the qualifications and...
Oct 15, 2014
South Africa's current account deficit is not sustainable and South Africans are not investing enough, Efficient Group chief economist Dawie Roodt said on Wednesday. South Africa's current account deficit of around five to six percent was "quite big", Roodt told...
Oct 14, 2014
Uninspiring economic growth, difficulties in recovering from labour disruptions, the financial pressures facing households and below-par export volumes were contributing to restrained trade conditions, with the South African Chamber of Commerce and Industry’s...
Oct 13, 2014
Trade and Industry Minister Dr Rob Davies would on Tuesday launch the revised Business Process Services (BPS) incentive, aimed at attracting investment and creating employment in South Africa through offshoring activities, at South Africa House, in London. Davies...
Oct 13, 2014
Article contains comments
Trade and Industry Minister Dr Rob Davies
Trade and Industry Minister Dr Rob Davies has gazetted the second phase of the amended broad-based black economic-empowerment (BBEEE) Codes of Good Practice for public comment. The Department of Trade and Industry had previously committed to reviewing and gazetting...
Oct 13, 2014
Ekurhuleni residents will soon be able to walk into major malls around the city and pay for their municipal services while doing their shopping. The City of Ekurhuleni is revving up its revenue enhancement drive and will soon introduce payment kiosks at local malls...
Oct 13, 2014
Mildred Oliphant
A national minimum wage will be a central discussion at the upcoming labour indaba, Labour Minister Mildred Oliphant said on Saturday. "Most workers are not aware of their rights. Minimum wage also does not mean workers should be trapped into earning the minimum wage...
Oct 10, 2014
Article contains comments
Thabo Mbeki
Africa was a rising continent and South Africa should become part of that rising, former President Thabo Mbeki said on Thursday. "Africa is rising -- let the South African corporate world become part of the story of the rising of the African continent," he said.
 
 
 
 
Oct 10, 2014
Article contains comments
Cape Town is on a drive to strengthen its position as a key business capital in Africa. The Mother City is keen to retain its reputation as a leading tourist destination, but wants to be taken more seriously as a destination for local and international investment
Oct 10, 2014
Multinational electronics company Samsung Electronics Africa, together with nongovernmental organisation Habitat for Humanity and the Gauteng Department of Education, officially unveiled the Solar Powered Internet School at Refalletse Primary School in Orange Farm,...
Oct 10, 2014
South Africa’s gross domestic product growth rate slowed to 1.9% in 2013, compared with 2.5% in 2012, the 2013 Productivity Statistics report revealed last month.
Oct 09, 2014
A total of R2.1-billion has been ring-fenced in the Department of Human Settlements’  medium-term expenditure framework period for housing projects in mining towns, with R290-million of this amount to be spent in the current financial year, Minister in the Presidency...
Oct 09, 2014
Oct 09, 2014
Coenraad Bezuidenhout
Government departments and State-owned companies (SoCs) needed to “drastically” improve their strategic procurement capacity, as well as their localisation compliance levels if local-procurement initiatives were to have any chance of stemming further...
Oct 09, 2014
Daniel Mminele
The South African Reserve Bank is aware of the inflationary effects of the rand's recent fall and is prepared to act to protect the currency's value, Deputy Governor Daniel Mminele said on Wednesday. In a speech to investors in New York, Mminele said it was important...
Oct 08, 2014
NYSE-listed GE has been recognised by the South African government for the significant impact the business has had on the nation’s economy. The inaugural Siyabonga Awards, for which Brand SA was one of the sponsors, was presented by Finance Minister Nhlanhla Nene at...
Oct 08, 2014
Article contains comments
Kuseni Dlamini
Africa’s developmental challenges can only truly be met through the mainstreaming of public–private partnerships (PPPs) that drive the creation of a shared value in the pursuit of profits and the development of infrastructure, it was held at the EY Strategic Growth...
Oct 08, 2014
Article contains comments
The search for executive talent to lead and staff the Africa-based offices of international companies is increasingly turning to the diaspora, progressively attracting many of the continent’s skilled workers now based abroad back to Africa. Addressing the EY...
 
 
 
 
Oct 08, 2014
The regional impact of West Africa's Ebola epidemic could reach $32.6-billion by the end of 2015 if it spreads significantly beyond the worst-hit countries of Guinea, Liberia and Sierra Leone, the World Bank said on Wednesday. "The enormous economic cost of the...
Oct 08, 2014
At least R8-million has been lost due to financial misconduct in Gauteng during the 2013/14 financial year, the Public Service Commission said on Wednesday. "In the 2013/14 financial year there were 93 cases reported which involved the amount of R8.8-million,"...
Oct 08, 2014
Article contains comments
Oct 08, 2014
The Gauteng government is considering launching a bank that will assist township entrepreneurs get access to funding to help grow their businesses, Premier David Makhura said on Tuesday. "We will start to put into action the creation of a state bank that will support...
Oct 08, 2014
President Jacob Zuma
KwaZulu-Natal’s Dube TradePort would contribute R5.6-billion to South Africa’s gross domestic product and create about 150 225 jobs by 2060, President Jacob Zuma told a gathering of public and private sector stakeholders and investors at the formal opening of the...
 
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