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Au 1801.77 $/oz Change: -43.07
Pt 1021.00 $/oz Change: -23.00


Solidarity attributes PetroSA retrenchments to mismanagement, poor political will

By: Donna Slater     25th January 2022 Trade union Solidarity claims that mismanagement and a lack of political will at South African national oil company PetroSA are the main reasons for a second retrenchment process instituted within 12 months of a previous process at the company.

According to Solidarity, the State-owned enterprise... 

Urgent solution needed

By: Terence Creamer     21st January 2022 A year can feel extremely long when events run away from you, but awfully short if one is trying to implement a turnaround. 2021 is a case in point. 

Busa’s offer of resources to NPA may include private prosecutors 

By: Terence Creamer     11th January 2022 Business Unity South Africa (Busa) has resolved to support the National Prosecuting Authority (NPA) with resources to enable it to “urgently prepare cases” against those identified in a recently released report arising from the Judicial Commission of Inquiry into allegations of State Capture.... 

TurboDirect SA

10th December 2021 Name of company and activity – TurboDirect SA is the largest original equipment (OEM) manufacturer and turbocharger importer, distributor and repairer in South Africa, holding genuine brand turbocharger distribution agencies directly with the international manufacturers. Most memorable moment of... 

Labour Court postpones deadline for Denel to comply with employee contractual obligations again

By: Simone Liedtke     3rd December 2021 Defence company Denel has again failed to comply with a Labour Court order, handed down on August 4, 2020, compelling the enterprise to honour all outstanding contractual obligations with Uasa members, the trade union said. Uasa spokesperson Abigail Moyo said the trade union was “disappointed”... 

Debt servicing costs contribute huge chunk of medium-term expenditure 

By: Marleny Arnoldi     11th November 2021 Government’s rising debt service costs, at about R1-trillion over 2022/23 to 2024/25, is crowding out spending on service delivery functions. Debt service costs will, on average, consume 21c of every rand collected in revenue over the medium term.  These costs will average R334-billion a year. 

No immediate Eskom debt solution, as Minister outlines ‘tough love’ stance on SOEs  

By: Terence Creamer     11th November 2021 Finance Minister Enoch Godongwana offered no new insight in his maiden address to lawmakers into how government intended approaching the issue of Eskom’s R400-billion debt burden, which has been labelled unsustainable by the utility, and also refrained from making any new provisions for... 

Denel munitions plant safety questioned following explosion

By: News24Wire      2nd November 2021 Safety at the Rheinmetall Denel Munitions plant in Macassar, Somerset West, has been called into question after an explosion on the premises on Sunday night. Trade union UASA said it was "anxious about the safety of those employed by the state-owned weapons manufacturer". 

Numsa loses ConCourt bid to force Parliament to halt liquidation of SA Express, Denel

By: News24Wire      20th October 2021 In a blow for the National Metalworkers Union of South Africa (Numsa), the Constitutional Court ruled on Wednesday that it cannot hear the union's application seeking to have Parliament decide whether State-owned enterprises can be allowed to go insolvent.  According to the apex court, the matter... 

Inquiry into 2018 Rheinmetall Denel fatal incident to resume on October 19

By: Schalk Burger     18th October 2021 The Department of Employment and Labour's (DEL's) inquiry into the events that led to a fatal incident at Rheinmetall Denel Munition's facility in Macasser, in the Western Cape, in 2018, is set to resume from October 19 to 22. This is the second sitting since the 2018 explosion at the munitions... 

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