De Ruyter sets objectives for Eskom to be a self-sustaining business

Johannesburg – Eskom CEO Andre de Ruyter said that while the company’s restructuring process was underway, they were still working on its independent financial sustainability. The company has depended on government guarantees for years to keep up with its operations, as it struggles with a R450 billion debt bill. De Ruyter said the company was […]

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Spar warns of rising food costs and ‘unprecedented’ consumer pressure

Johannesburg – Retail group Spar is bracing for “unprecedented” pressure on consumers as result of the Covid-19 pandemic, with the virus already partially responsible for profits falling by more than a quarter in its half-year to end-March. The pandemic has shuttered stores all over the world, while the group has also seen a prohibition of […]

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Further electricity price increase expected later this year

Johannesburg – According to Eskom consumers will soon notice a further increase in their electricity bills after the national energy regulator last week granted the company approval to recover a shortfall of R13.3 billion. Eskom had initially applied in August 2019 to Nersa to claw back R27.3 billion from electricity customers through power tariffs, saying […]

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Lockdown slump: V&A Waterfront collecting only half of normal rent from tenants

Cape Town – One of South Africa’s leading landlords, Growth Properties, says it is receiving requests for additional rent payment relief on a daily basis with tenants battling to pay their bills as the nationwide lockdown enters its eighth week. The company’s flagship V&A Waterfront development in Cape Town has only been able to collect […]

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Solidarity’s row with tourism minister not over

Johannesburg – Tourism minister Mmamoloko Kubayi-Ngubane welcomed the Constitutional Court’s decision on Friday of the joint Solidarity/AfriForum application to appeal and set aside the use of broad-based black economic empowerment (B-BBEE) criteria as part of the department’s R20 million Covid-19 Tourism Relief Fund for small business. “The Constitutional Court has considered the application for leave […]

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Shoprite sees surging demand for DIY hair and beauty products

Johannesburg – Shoprite Holdings said sales of beauty products, such as hair colouring kits and conditioners, have soared at its supermarkets as consumers turn to DO-IT-YOURSELF- treatments while salons remain shut. As South Africa has lifted some restrictions on May 1, but under level 4 restrictions, hair and beauty salons are still closed. Shoprite and […]

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SA Post Office could join SAA in succumbing to effects of Covid-19

Johannesburg -The South African Post Office (SAPO) could join the likes of out African Airways (SAA)  as one of the state-owned entities that succumb to the effects of Covid-19. MPs were sent an update on the financial health of the entity on Tuesday night. The Department of Communications and Digital Technologies briefed parliament about its […]

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