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Despite the suspension of load shedding since March 2024, PwC's latest South Africa Economic Outlook reveals that business leaders still consider energy disruptions their primary concern, alongside growing worries about water shortages and extreme weather events. The report outlines critical mitigation strategies businesses must implement to ensure resilience against these challenges in 2025-2026.
A groundbreaking PwC investigation, obtained through PAIA, reveals how Steinhoff orchestrated South Africa's largest corporate scandal, manipulating R125 billion through artificial revenue inflation between 2009 and 2017. The report exposes eight companies' involvement and complex financial manoeuvres that led to the company's devastating 97% market capitalisation loss.
The Johannesburg Stock Exchange implemented significant regulatory reforms following Steinhoff's 2017 accounting scandal. This article explores the changes made, the impact of Steinhoff's primary listing shift to Frankfurt, and the subsequent enforcement actions against key executives.
A PwC investigation has uncovered how Steinhoff manipulated its profits through complex trademark transactions between 2001 and 2017, revealing a sophisticated scheme involving GT Global Trademarks to artificially inflate brand values and meet profit targets
A 7,000-page PwC investigation reveals how Steinhoff orchestrated one of South Africa's biggest corporate scandals through inflated deals and fraudulent accounting worth R125 billion. The report exposes questionable acquisitions, including well-known brands like Tekkie Town and Poundland, while detailing the complex web of special purpose vehicles used to perpetrate the fraud
One particular fraud was perpetrated through a contribution of $162m from one Steinhoff subsidiary, SEAG Austria, to another, Mattress Firm, referred to throughout the investigation as MFRM.
The EFF laid corruption charges against Macpherson, whom it accused of allegedly contacting a junior official to demand processing of payment to one of IDT’s a service provider and writing a letter to the board’s chairperson outlining his intention to remove from office.
Steinhoff was South Africa’s biggest corporate scandal when it collapsed after Deloitte confirmed there were accounting irregularities in 2017.
Vilakazi credits her mother’s support as having played a huge role in the success she has been able to achieve in her career and the reason she is a hard worker.
The four major banks in South Africa - Absa, FirstRand, Nedbank, and Standard Bank - have paid the South African Revenue Service (Sars) around R37. 7 billion in direct taxes to government in 2023.
OPINION: Besides the many strides South Africa has made since 1994, there have been constant challenges that defeat the good progress made, writes Dr Zanele Zuma.
Due to fiscal constraints, incentives for solar energy installations by enterprises and individuals maybe be discontinued.
Despite recording a reduction in foreign direct investment inflows from R26 billion in the third quarter to September 2023 compared with R53. 8bn in the second quarter, South Africa is outperforming other peers in the Europe, Middle East and Africa region.
Crises create environments that can help kick-start profound change, but organisations need to put purpose at the heart of their risk and overall strategies.
Chief executives, chief financial officers and executive directors in SA are paid less than their overseas counterparts, says the South African Rewards Association.
World experts are in Dubai for climate change negotiations, and the City of Durban hopes money to cope with disasters is high on the list.
Petrol and diesel prices are expected to bottom out in Q1 2024 and then slowly increase through the rest of 2024 and into 2025.
The best we can hope for is an unchanged rate, but some economists predict it will go up.
The survey showed 74% of the retirement fund respondents in this year’s survey said their board members were now being remunerated.