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Financial News

Business incubation can play key role in stimulating and sustaining small firms

By: Mia Breytenbach 29th April 2016 One of the key messages to emerge ahead of the review of South Africa’s sovereign credit rating is that the country needs to outline the practical actions it will take to reignite growth, which has more or less petered out in recent years, with few expecting the economy to expand by better than... →

AfDB pledges increased financial support for Mozambique

By: Mia Breytenbach 22nd April 2016 The African Development Bank Group (AfDB) has affirmed its commitment to continue supporting the growing Mozambique economy, particularly regarding the country’s energy, agriculture and infrastructure sectors. Leading a team of senior staff to Maputo earlier this month, AfDB president Akinwumi... →

Photo by Duane Daws
INVESTMENT NEED Mozambique is in the process of revitalising its economy, focusing on priority areas, such as agriculture, energy and infrastructure

Home Affairs aspires to expand e-services, online document applications

By: Mia Breytenbach 22nd April 2016 While the new service of applying online for SmartID cards and passports through the eHome Affairs portal and at major banks in Gauteng will initially cater for people aged between 30 and 35, the Department of Home Affairs (DHA) hopes to extend the system to other age categories and more centres... →

SMART APPLICATION The main objective of the partnership with the banks is to make more centres available at which people can apply for SmartID Cards and passports

Municipal project bankability critical to attracting finance

By: Dylan Slater 22nd April 2016 Financial lending to the public sector, namely municipalities, for investment in infrastructure projects requires lenders to investigate and determine the future bankability of such projects and calculate risk in terms of municipalities being able to repay the loans. →

Hulisani says it has R2.5bn project pipeline as it lists on JSE

By: David Oliveira 22nd April 2016 Newly established renewable energy special-purpose acquisition company (Spac) Hulisani listed on the main board of the Johannesburg Stock Exchange (JSE), earlier this month, taking advantage of investor demand for energy assets in South Africa and Africa. Company CEO Mlungelo Zilimbola... →

Banks obliged to ensure that clients abide by the law, says Basa

By: Samantha Herbst 14th April 2016 In an attempt to clarify ongoing speculation following Standard Bank and Nedbank’s move last week to sever ties with the Gupta-linked Oakbay Resources, the Banking Association of South Africa (Basa) on Thursday released a statement to account for the regulatory considerations that all banks... →

CIPC, Nedbank partner to ease registration process for small businesses

By: Anine Kilian 12th April 2016 Nedbank, together with the Companies and Intellectual Property Commission (CIPC) and the Department of Trade and Industry, on Tuesday launched the fully automated CIPC Online Web portal, allowing business owners to register a business and open a business bank account in one process. The service... →

Trade and Industry Minister Dr Rob Davies

Hulisani joins the JSE, leverages demand for energy assets

By: David Oliveira 7th April 2016 Newly established renewable energy special-purpose acquisition (Spac) company Hulisani on Thursday listed on the main board of the Johannesburg Stock Exchange (JSE), taking advantage of investor demand for energy assets in South Africa and Africa. Hulisani CEO Mlungelo Zilimbola highlighted that... →

Hulisani CEO Mlungelo Zilimbola discusses the company's JSE listing and its strategy for the near future. 07.04.2016. Camerawork and videoediting: Nicholas Boyd.

Labour dept to investigate death of employee at KZN company

By: Anine Kilian 5th April 2016 The Department of Labour (DoL) has launched an investigation into an incident at KatzStone Granite and Quartz, in Verulam, KwaZulu-Natal, which resulted in the death of one worker dead and the injury of three others. Details of the incident were scant and remained the subject of an investigation;... →

Land Bank offers drought-affected farmers relief measures

By: Mia Breytenbach 30th March 2016 State-owned specialist land and agricultural financial services provider Land Bank has called on farmers in drought-declared provinces to apply for concessional loans, raised by the bank from the Industrial Development Corporation (IDC), to help ease the effects of the drought and return to... →

FSB grants ZAR X stock exchange licence

30th March 2016 Financial services company ZAR X has been granted a stock exchange licence by the Financial Services Board (FSB), enabling the company to operate a mature, independent stock exchange and provide an alternative to companies that want to list their securities on a licensed exchange. “Investors... →

Investment bank Nomura to open SA branch

By: Anine Kilian 22nd March 2016 Asian investment bank Nomura would establish a permanent branch in South Africa, the group announced on Tuesday. Jan Newman, formerly of Newman Lowther & Associates, was appointed head of Nomura South Africa and head of investment banking in South Africa. Ben Lowther was appointed co-head of... →

New codes to catalyse transformation

By: Dylan Slater 18th March 2016 Compliance with the new Broad-Based Black Economic-Empowerment (BBBEE) Codes of Good Practice needs to be widespread if further youth uprisings are to be averted, thereby enabling South Africa to build additional small and medium-sized enterprises (SMEs) and triggering transformation and growing... →

Photo by Duane Daws
BBBEE CODES The biggest change in the new codes is a sub minimum of 40% compliance for all categories

Finance house assists with small business growth

By: Dylan Slater 18th March 2016 Through financial services provider Sanlam’s enterprise and supplier development (ESD) programme, small and medium-sized enterprises (SMEs) have experienced an average of 19% growth in revenue in the past two years. →

Water technology company extends pumps rental hub

18th March 2016 Global water technology company Xylem in January announced the expansion of its pump rental and service portfolio across Europe and South Africa through a multimillion-euro investment. The company believes that this expansion initiative will enable it to better meet the market demand from... →

FOR RENT Xylem is opening pump rental and service hubs across Europe and expanding its pump rental portfolio in South Africa

Fastjet adds new S Africa/Zimbabwe route despite financial squeeze

By: Keith Campbell 8th March 2016 Embattled pan-African low cost carrier fastjet (as it styles itself) has announced on Tuesday it will start flying between Johannesburg, South Africa and Victoria Falls, Zimbabwe, on March 25. The twice-weekly route will be served with an Airbus A319 single-aisle airliner with a capacity of up to... →

Photo by fastjet
An Airbus A319 of fastjet

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