Category: Business

Johannesburg – About three telecommunications towers belonging to Vodacom and MTN were burnt this week following a resurgence in conspiracy theories which link the emergence of Covid-19 to 5G technology, South Africa’s communication minister said on Thursday. The towers were burnt and destroyed between Tuesday and Wednesday this week in KwaZulu-Natal province, said Minister of […]

Johannesburg – The rand traded a touch softer amid caution that South Africa may be headed for a further tightening of the Covid-19 restrictions belt as the national coronavirus command council convenes. On the international stage, rising oil and increased expectations for bigger fiscal stimulus under the Democrat-controlled senate. Meanwhile, the rand was steady in […]

Cape Town – The inclusion of Covid-19 vaccine to medical aid scheme benefits is not likely to substantially increase medical aid payments by members, Council for Medical Schemes (CMS) acting GM for Stakeholder Relations Mmatsie Mpshane said Wednesday. The CMS has been coordinating public-private sector collaboration aimed at ensuring universal access to vaccines when it […]

Durban – Financial services group Santam announced on Monday that it would begin the process for assessing claims for policies with contingent business interruption (CBI) extensions in line with the recent court judgments. In a statement the insurance group said that the claims assessment process would specifically apply to policies impacted by the recent judgment […]

Johannesburg – Spanish-German wind engineering company Siemens Gamesa has signed a project with state-owned Ethiopian Electric Power (EEP) which will ultimately help provide power to over 400,000 households, it said on Monday. In a statement, Siemens Gamesa said it would deliver 29 SG 3.4-132 wind turbines to the utility for the Assela project, a 100 […]

Johannesburg – SAAs’ business rescue practitioners (BRP) have welcomed the Labour Court’s dismissal of an application by the SAAPA (South African Airline Pilots Association) to have a lockout against its member declared unlawful, but the impasse between the airline company and its pilots remains. BRP Siviwe Dongwana said Wednesday: “We welcome today’s judgment from the […]

Johannesburg – The rand strengthened marginally on Wednesday as market participants weighed a slew of local and global developments and their impact on the currency. Investors see a negative impact on the rand from stricter lockdown measures imposed Monday night, but the currency has regularly been boosted by US stimulus news. This has seen the […]

The EU and China are close to reaching a long-awaited business investment deal, according to media reports. The pact, expected to be finalised this week, will give EU firms better access to the Chinese market and improve competition conditions. Talks on the investment deal began in 2014 but have been stuck for years over a […]

Johannesburg – Grand Parade Investment (GPI) informed its shareholders that the date for the conclusion of the share purchase agreements (SPA) for the disposal of Burger King South Africa (BKSA) and Grand Foods Meat Plant (GFMP) has expired. This follows the investment holding company entering into the sale of the two businesses in February to […]

Johannesburg Adcorp Holdings has announced the appointment of Dr John Wentzel as its new chief executive, with effect from April 1, 2021. Wentzel will replace Phil Roux who joined the group in April who was charged with stabilising the group and developing a sustainable performance platform. The group said Wentzel is an experienced business executive […]