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Abrahams relied on wrong sections of law to prosecute Thales, says Katz

21st May 2019 The legal team for French arms’ company Thales argued on Tuesday that South Africa’s former prosecutions’ chief, Shaun Abrahams, relied on, among other things, the wrong sections of the law when deciding to reinstate charges against its client. Advocate Anton Katz, SC, also said that when... 

SARB to keep repo rate unchanged and monitor inflation – economists

21st May 2019 The South African Reserve Bank (SARB) is likely to keep the repurchase (repo) rate unchanged at 6.75% on Thursday while retaining a cautious policy stance given upside risks to the inflation outlook, economists have said. In March, the SARB's monetary policy committee (MPC) unanimously decided to... 

City of Cape Town allocates approximately R25m to give Fisherman’s Lane a facelift

21st May 2019 The City of Cape Town on Tuesday said it has allocated approximately R25-million in its proposed budget over the next three years for the upgrade of the coastal infrastructure at Fisherman’s Lane at Strandfontein on the False Bay coastline. "The spring tides and wave action have left its mark on... 

Former SAAF chief lieutenant general Dennis Earp dies

21st May 2019 Former chief of South African Air Force (SAAF) lieutenant general Dennis Earp – a veteran of the Korean war – has passed away at the age of 88. "It is with great sadness that the South African Air Force (SAAF) has to announce the passing on of retired Lieutenant General Dennis Earp on midnight on... 

Rhodes Food interim operating profit rises 6% to R173m

21st May 2019 Rhodes Food on Tuesday reported an improved performance for the six months to March, with operating profit up six% to R173-million while turnover increased by 9.3% to R2.7-billion. The Western Cape-based firm, which owns such brands as Rhodes, Bull Brand, Magpie, Squish, Bisto, Hinds and Pakco,... 

SA business delegation heads to Uganda to explore trade and investment opportunities

17th May 2019 A group of 25 South African business people were in high spirits ahead of their departure to Kampala, Uganda, to explore trade and investment opportunities in the agro-processing, capital equipment, energy and furniture sectors in the East African country. This is according to the Department of... 

Land Bank reshuffles executive after CEO's resignation

16th May 2019 The Land and Agricultural Development Bank of South Africa on Thursday appointed its head of internal audit Yatheen Ramrup, as acting CFO to support Konehali Gugushe in her capacity of acting chief executive. Ramrup is a chartered accountant who articled with Ernst & Young and has an extensive... 

Sakeliga welcomes Radebe's decision on private electricity generation

16th May 2019 Business organisation Sakeliga on Thursday welcomed Energy Minister Jeff Radebe's decision to allow private businesses to generate their own power and feed it into the grid. The energy department this week confirmed Radebe gave the National Energy Regulator of South Africa the go ahead to licence... 

Mahomedy tackles locomotive costs, interest rate swaps at Zondo Commission

16th May 2019 Transnet acting CE Mohammed Mahomedy continued his testimony at the Zondo commission of inquiry into State capture on Thursday, further detailing how the State-owned entity was bleeding billions of rands as a result of irregular contracts and interest rate swaps. Mahomedy told the commission... 

Transnet CEO tells Zondo Inquiry of irregularly awarded contracts

16th May 2019 Transnet's acting group chief executive, Mohammed Mahomedy, on Wednesday told the Zondo Commission that a review of tender documents by Transnet's new board revealed that several contracts at the state-owned freight operator had been entered into irregularly.  Mahomedy was acting CFO at Transnet... 

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