SA’s poor track record may impact ambitious R1 trillion investment drive

SA’s poor track record may impact ambitious R1 trillion investment drive

SA will be hard pressed to realize its ambitions of attracting R1 trillion of private investment in infrastructure if its past record is anything to go by.By Monique Vanek(Bloomberg) — South Africa will be hard pressed to realize its ambitions of attracting 1 trillion rand ($61 billion) of private i

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Tourism: high-risk markets cut to 22

Tourism: high-risk markets cut to 22

Desperate to revive its key tourism industry, South Africa has cut the number of high-risk countries by almost two thirds from 60 to 22 as the country attempts to woo visitors in the wake of the coronavirus pandemic.But the updated list issued by the Department of Home Affairs still blacklists visit

  Derek Alberts
Hilton pulling out, Hyatt coming in

Hilton pulling out, Hyatt coming in

A Hyatt affiliate has entered into a management agreement with SA real estate company, Millat Properties, to open the first Hyatt hotel in Cape Town.Hyatt media statement:Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with South Afri

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Omnia sells Oro Agri business to Rovensa for $165 million

Omnia sells Oro Agri business to Rovensa for $165 million

JSE-listed Omnia has reached an agreement to dispose of Oro Agri to Rovensa and believes the attractive offer will realise significant value for shareholders.Omnia media statement: Attractive offer will realise significant value for shareholdersProceeds to completely de-risk Omnia’s capital structur

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Health minister Zweli Mkhize, his wife May test positive for Covid-19

Health minister Zweli Mkhize, his wife May test positive for Covid-19

President Ramaphosa wishes Health Minister Zweli Mkhize and his wife, Dr May Mkhize, a safe and speedy recovery from their Covid-19 infection.From The Presidency: President Cyril Ramaphosa wishes Health Minister Dr Zweli Mkhize and his wife, Dr May Mkhize, a safe and speedy recovery from their Covid

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Northam Platinum buy-out proposal raises concerns BEE benefits elite

Northam Platinum buy-out proposal raises concerns BEE benefits elite

According to people familiar with the matter, Northam Platinum is considering buying out some of its biggest shareholders to curb future liabilities.By Antony Sguazzin, Loni Prinsloo and Felix Njini(Bloomberg) — Northam Platinum Ltd. is considering buying out some of its biggest shareholders to curb

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Mboweni asks parliament to delay mid-term budget over economic recovery plan

Mboweni asks parliament to delay mid-term budget over economic recovery plan

Treasury asked parliament to reschedule as Finance Minister Tito Mboweni assesses the implications of the government’s economic recovery plan.By Paul Richardson(Bloomberg) — The South African Treasury asked parliament to reschedule the mid-term budget as Finance Minister Tito Mboweni assesses the im

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Covid-19 crisis widened pre-existing gap between cities and rural areas

Covid-19 crisis widened pre-existing gap between cities and rural areas

According to Prof Ivan Turok and Justin Visagie, Covid-19 has enlarged the chasm between suburbs, townships and informal settlements within cities.University of the Free State media statement: New evidence provides a detailed picture of the extraordinary economic fallout from the Covid-19 pandemic.

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Hawks bust company director for R3.2m Covid-19 social relief funds fraud

Hawks bust company director for R3.2m Covid-19 social relief funds fraud

After receiving a complaint of Covid-19 social relief funds fraud from the Mtititi community, the Hawks arrested a company director for alleged fraud.From SA Government: Hardly three weeks after receiving a complaint of Covid-19 social relief funds fraud from Mtititi community outside Malamulele, th

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New bill spells out how and when land expropriation can take place

New bill spells out how and when land expropriation can take place

The Expropriation Bill is set to replace the current Expropriation Act of 1975 and spells out clearly how and when land expropriation can take place.From SA Government:In his 2018 State of the Nation address, President Cyril Ramaphosa committed to the acceleration of land redistribution programme to

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Strike deals fresh blow to reeling economy

Strike deals fresh blow to reeling economy

SA unions representing workers across a range of industries staged a one-day national strike on Wednesday, dealing a further blow to the economy.By S’thembile Cele and Mike Cohen(Bloomberg) — South African unions representing workers across a range of industries staged a one-day national strike on W

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South Africa’s services sector bounces back from all-time low

South Africa’s services sector bounces back from all-time low

By Prinesha Naidoo(Bloomberg) — Sentiment in South Africa’s services sector bounced back from an all-time low in the third quarter but remains weak even as restrictions to curb the spread of the coronavirus pandemic were gradually eased.A quarterly index measuring confidence in the sector rose to 17

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SACCI urges govt to speed up structural reforms to bolster economy

SACCI urges govt to speed up structural reforms to bolster economy

By Prinesha Naidoo(Bloomberg) — A South African business group is urging the government to speed up structural reforms to bolster economic growth and create jobs as sentiment has partially recovered from restrictions to curb the spread of the coronavirus.The South African Chamber of Commerce and Ind

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Cosatu plans one-day national strike over corruption, job losses

Cosatu plans one-day national strike over corruption, job losses

Cosatu plans to stage a one-day national strike on Oct. 7 to protest against corruption, job losses and the government’s plans to curb its wage bill.By Prinesha Naidoo and S’thembile Cele(Bloomberg) — South Africa’s biggest labor group plans to stage a one-day national strike on Oct. 7 to protest ag

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