Assets merger sparks new power player

Two major investors in infrastructure projects in Africa – Harith General Partners and Africa Finance Corporation (AFC) – are merging assets in five countries...

Humble start for EL’s hotel king

“One man with a dream” is how East London businessman Sam Nassimov describes his journey to build up the Premier Hotels & Resorts group...

SAA bleeding money

South African Airways (SAA) is continuing to bleed money and made a net loss of R1.38-billion in the first quarter of the new financial...

Sassa grants court battle- Deductions pit minister against firm

A lucrative  slice of R128.7-billion in social grants is at stake as the South African Social Security Agency (Sassa) prepares to oppose attempts to...

SA’s unproductive tag a fallacy

It was a fallacy to say that South African workers were not productive, Mercedes-Benz SA chief executive Arno van der Merwe told business leaders...

Kempston Group’s wheels keep turning

Following the dictates of corporate culture is not something over which Kempston Group managers and employees lose much sleep. The group has shunned the corporatism...

Major boost for black farmers

The potato industry came to the Eastern Cape this week to promote potato crops in the province and one major player has offered to...

Promising signs for merger

The Competition Commission’s conditional approval of Anheuser-Busch InBev’s acquisition of SABMiller brings closure of the transaction tantalisingly close to meeting the August 12 deadline...

SAA almost out of cash

Mired in a procurement scandal, SA Airways has almost eaten away the financial cushion it had from national Treasury.  The cash-strapped airline has only R99-million...

Quarry to pave new roads

The state’s own road-building programme in the Eastern Cape will be the biggest beneficiary of a R200-million aggregate quarry in Indwe. The Eastern Cape Development Corporation...

Guptas linked to R51bn rail tender

Claims that the Gupta family attempted to capture a R51-billion tender on behalf of a bidder in 2012 are among many allegations the family contends...

Oakbay faces possible JSE suspension for failing to find a sponsor

Gupta-owned Oakbay Resources and Energy faces the possible suspension of its JSE listing for failing to find a JSE sponsor willing to replace Sasfin...

Insurers count cost of stormy weather

Short-term insurers returned from their annual conference at Sun City on Wednesday to a mountain of paperwork. All insurers have seen a spike in claims...

Eskom’s finances change for better

By LUTHO MTONGANA and REITUMETSI PITSO Eskom has begun to turn the corner, with its annual results this week showing a vastly improved financial position...

SAA statement may backfire

South African Airways (SAA) made the startling admission at the weekend that it subsidises low-cost state-owned airline Mango‚ by subleasing to its entire fleet...

Fuel funds bosses quit

By CAROL PATON The acting CEO of the Strategic Fuel Fund (SFF) Sibusiso Gamede and the chairman of the Central Energy Fund (CEF) Riaz Jawoodien...

5bn Prasa train dispute takes a new turn

The Passenger Rail Agency of SA (Prasa) has launched a forensic investigation into the relationship between Swifambo Rail Leasing‚ the company it has taken...

China inks in R11-billion deal with Port Elizabeth

Port Elizabeth will soon be home to a Chinese car manufacturing plant with thousands of jobs created from the R11-billion investment. The plant will manufacture...

Reserve Bank fines GBS R500000 for Fica lapses

Grahamstown-headquartered bank GBS Mutual has been slapped with a R500000 fine after the SA Reserve Bank (SARB) found “weaknesses” in its controls intended to...

Floorworx: JSE warned of fraud

The holding company of East London-based flooring manufacturer, Floorworx, yesterday issued a cautionary notice on the JSE about fraud in the company. The stock exchange...

Magwa tea estate fights to stay afloat

Government has spent a small fortune on keeping the Magwa tea estate afloat over the years and there is another almost R50-million needed in...

India’s leader heads to SA

By MARK ALLIX INDIA’s Narendra Modi will be in South Africa this week – the first visit by an Indian prime minister in 10 years...

SA in need of more black accountants

Less than a quarter of South Africa’s chartered accountants (CAs) are black, with Africans comprising only 9% of the total registered CAs in the...

Cheap steel exports cripple SA

Arcelormittal SA says the global steel industry continues to struggle‚ and that South Africa is feeling the pain.  The country’s largest steel producer said in...

MBSA’s investment pays off

East London-based Mercedes Benz South Africa’s (MBSA) performance last year was the outcome of the R5-billion investment in plant infrastructure to build the new...

From general dealer to generating billions

Property tycoon and Billion Group chairman Sisa Ngebulana has smashed through many barriers to reach the top of South Africa’s retail property development sector. The...

Unclaimed benefits over R20bn

Unclaimed benefits sitting in retirement funds have probably swelled to R20-billion‚ the Financial Services Board (FSB) reported on Wednesday.The R20-billion is an estimate and the...

Revival plan for new jobs

In an effort to revive several defunct industrial zones across the province and create jobs, the provincial department of economic affairs has roped in...

Drop in global food prices brings relief for SA

Global food prices fell modestly in July, after increasing for five consecutive months.  A United Nations Food and Agriculture Organisation (FAO) food price index released...

How to avoid getting scammed

South Africa is one of the most targeted countries when it comes to online fraudsters trying to steal personal details. With the festive season...

Energy boost on the cards for SA

German wind turbine maker Nordex SE sees further wind energy investment opportunities in South Africa‚ chief executive Lars Bondo Krogsgaard said this week. “We see significant...

Business link key to success

The rand firmed following last week’s peaceful local government elections, a sign of global satisfaction with the state of democracy in South Africa. And...

No more sweet talking

The beverage industry has launched a full-scale assault on the planned sugar tax and yesterday gathered with township residents in Alexandra to detail the...

Figures show car exports vital

Latest figures from the Eastern Cape provincial department of economic affairs show the importance of high value vehicle exports for the national and provincial...

Race for SA power deal

The race to secure the contract for the full 9600MW of new nuclear power in South Africa is gathering pace‚ with French nuclear operators...

Global economies challenged

By DDR The winds of change – from the growth in anti- establishment movements to ageing populations – are causing red flags to flutter for...

New entry challenges aircraft supremos

By TIM HEPHER and VICTORIA BRYAN The aerospace industry is preparing to celebrate major milestones at the Farnborough Airshow today as Boeing turns 100 and...

SAA CEO settles for R2.7m payout

After putting up a fight that went as far as the Labour Court and back‚ suspended South African Airways chief executive Monwabisi Kalawe has...

Anglo plans to shed 54000 jobs

After doing what it could to cut costs from its mining “engine room”‚ Anglo American intends shedding 54000 jobs by selling 15 mines and excising...

Bonds strengthen further on optimism over UK referendum

The South African bond market was firmer at midday on Wednesday amid global optimism that the “remain” camp will be victorious in Thursday’s UK...

Beating odds to achieve dream

The most telling thing I notice about Zintle Tshem is the way she signs off her e-mail to me – with CA(SA) in brackets...

Grass is greener overseas, say students

The grass is greener on the other side‚ say South Africa’s potential graduates who plan to pursue their careers abroad. More than 50% of students...

Why eggs are getting so expensive

Egg prices are likely to rise more sharply than chicken prices‚ the South African Poultry Association (Sapa) warned on Wednesday. Unlike the poultry meat industry...

Eskom tariff hike ruling a big victory

Uncertainty hangs over electricity tariffs after a court on Tuesday set aside a decision by the National Energy Regulator of SA (Nersa) to grant...

Bank empowerment deal likely

As the bidding war for Barclays’s 50.1% stake in Barclays Africa Group hots up‚ it has emerged that an empowerment deal is likely to...

Ex-stirling pupil cut to bone in meat saga

Industry improving after scandal revealed this year hails from Komga. Cawthorn matriculated from Stirling in 1998 and went on to study Food Sciences in Cape Town....

Chamber queries metro’s IDP

The Border-Kei Chamber of Business has made wide-ranging input into the metro municipality’s Integrated Development Plan, but is concerned that the draft IDP does...

Pasa ups estimate for Karoo shale gas

The Petroleum Agency SA (Pasa) has modelled a higher potential for shale gas in the Karoo than the previous conservative estimates of about 36...

SA car sales shift higher

Motor trade activity picked up in April‚ when the value of cars sold rose 9% from a year earlier. The recent trend of sales of...

EC unemployment rate reaches 30%

Figures are the worst since 2008. THE Eastern Cape has the highest rate of joblessness in a country where unemployment rates reached levels last seen...