Category: Business

Johannesburg – The embattled Passenger Rail Agency of South Africa (Prasa) can still be restored. That is according to former Public Protector Thuli Madonsela. Madonsela has welcomed the Zondo Commission’s fifth and final report on Prasa, saying the truth has come to light. The report revealed that the rail agency’s rot runs deeper than it […]

Johannesburg South Africa’s five largest banks hold nearly 90% of the total assets of the 31 regulated lenders overseen by the Prudential Authority. This is according to the authority’s 2021/2022 annual report. It also showed that the total banking sector assets grew 5.61% year-on-year to R6.82 trillions. This, it says, was driven largely by higher […]

Johannesburg – The Direct Selling Association has raised concerns over dubious and fraudulent money schemes. They are warning people to be cautious of companies promising quick money. Imtiaz Ebrahim from the Direct Selling Association of South Africa, said two trends are making the rounds and people should be careful of investments promising quick and high […]

Eskom has warned that employee protests will put the country at risk of more loadshedding. This comes after the power utility cranked up loadshedding throughout the day from Thursday to Sunday, June 27. Over the past 24-hours protests at 9 of its power stations and other operating facilities have intensified, following a deadlock in wage […]

Johannesburg – Cipla Medpro has recalled batches of its popular Coryx Throat Spray due to a mechanism fault in the nozzle. It says there’s a possibility the nozzle could detach from the spray mechanism during use, with the danger of it being swallowed or getting stuck in the throat. The company said it is working […]

Gqeberha – Nelson Mandela Bay’s water supply problems are hurting productivity at Aspen Pharmacare’s production plant. That is the word from the group’s senior strategy executive, Stavros Nicolaou. He was speaking on the sidelines of this year’s Manufacturing Indaba. The municipality has been in the grip of a devastating drought since 2016 as no significant […]

Johannesburg – Metalworkers union Numsa said that more than 4,000 of its members would on Tuesday gather in Freedom Park, near Rustenburg in the North West, to promote the indefinite strike under way at Impala Platinum mines. The strike by contract workers employed by three mining groups contracted to provided services at Implats has entered […]

The power system is under severe pressure and there is a risk of load shedding at short notice if there are any significant breakdowns at Eskom plants, warned the power utility on Monday morning. The power system will be under strain for weeks, it added in a statement. “There are a number of generating units […]

JSE-listed and UK headquartered Capital & Counties Properties (Capco) and property firm Shaftesbury have agreed to a merger, giving the new real estate investment trust (REIT) company a R98 billion portfolio in London’s West End. When the merger goes through, the combined group will be called Shaftesbury Capital, and have 2.9 million square feet (around […]

Johannesburg – Workers contracts will be terminated immediately now that Comair is in provisional liquidation. Liquidators will now go through what is on top of the list for what needs to be paid. Workers might only get a set amount despite the number of years they have worked at the airline. Over 2,000 jobs have, […]