Latest News & Developments
South Africa's mining output, once a cornerstone of the economy, has seen a staggering 9. 6% year-on-year decline in February.
In the previous quarter, the second biggest decline in jobs was in business services, followed by manufacturing, transport, and then mining. However, trade and construction reported gains, albeit small.
Will South Africa's Major Banks Be Held Accountable for Allegations of Collusion and Racial Discrimination?
On Tuesday, Investec chief economist Annabel Bishop said that inflation for December was anticipated to come in at close to 3% year-on-year.
Explore the inconsistencies in how South African banks manage reputational risk, as highlighted by the Sekunjalo Group’s case, and question whether bias influences their decision-making
Following the Competition Commission's finding against Nedbank and other banks for anti-competitive practices, the ICTU calls for accountability and highlights the devastating impact on black-owned businesses
Stats SA’s chief director of price statistics, Patrick Kelly, said eight of the 11 food and NAB groups registered lower rates.
Stats SA’s chief director of price statistics, Patrick Kelly, said eight of the 11 food and non-alcoholic beverages groups registered lower rates.
South Africa’s vulnerable status on the FATF greylist reveals substantial AML and CFT inadequacies … to prevent international scrutiny, restricted access to global financial markets, and greater bank operating costs, considerable adjustments are needed before January 2025, while only 16 of 22 action items have been completed.
South Africa's 2024 Medium-Term Budget Policy Statement reveals a deteriorating fiscal outlook, with wider budget deficits and concerning debt-to-GDP ratios.
CEO Fani Titi says he issue does not affect its numbers.
Their massive earnings raise questions about income disparity, especially in a country where the majority of the population lives in poverty.
As South Africans sink deeper into poverty, it is not enough for banking executives to sit comfortably atop their ivory towers. The obscene levels of executive pay amidst widespread poverty and unemployment must be challenged, writes Independent Media Editor-in-Chief Adri Senekal De Wet.
It is alleged that siblings, who are directors of Big Business Innovations Group, fraudulently submitted false Stanbic guarantees when they applied for R35 million working capital.
Kwanele Ngogela of non-profit shareholder activism organisation Just Share, said that remuneration packages are grossly high, and in some cases, a CEO can earn 1,000 times more than their lowest paid employee.
Investec, an Anglo-SA private banking and wealth management group, has set minimum pay at R21,000 a month, according to the group’s annual report.
The rand could hit as high as R21. 40 against the dollar in 2024 according to a severe down-case scenario reported by financial institution Investec.
President Cyril Ramaphosa has urged for decisive economic reforms to address the monopolistic control of South Africa's economy by five major banks and a few companies. Speaking at a dinner in Durban, hosted by the Minara Chamber of Commerce, Ramaphosa highlighted the challenges faced from years of state capture, natural disasters, and economic downturns.
As revelations about Pravin Gordhan's tenure unfold, accusations of corruption and mismanagement at the helm of South Africa's public enterprises surface. With a controversial SAA deal and undisclosed conflicts of interest, the demand for his criminal prosecution underscores the urgent need for transparency and ethical leadership in government.
There was an underlying theme of inclusion, empathy and cultural signifiers – a welcome move away from the snootiness and elitism often associated with the art scene.
Court orders FIC to hand over information on banking institutions’ Risk Management and Compliance Programmes.
Ruling reinforces the assertion of economic sabotage.
Western Cape High Court Judge Daniel Thulare yesterday ruled that the Financial Intelligence Centre (FIC) must hand over all documents pertaining to Sekunjalo, its subsidiaries.
The admission by the banks not only raises profound concerns about the transparency and fairness of banking practices, says the writer.
The CAC was rather scathing of the way the Competition Commission presented its case, citing insufficient evidence in some matters and technicalities in numerous matters