Business In The News South Africa

Uprgrading infrastructure near townships is a job creator, says DTI

TZANEEN, April 30 – Upgrading infrastructure in industrial parks located in or near the country’s townships would go a long way in transforming the economy and creating job opportunities, according to deputy minister of trade and industry (DTI) Bulelani Magwanishe. Magwanishe made the remarks at the launch of the revitalised Nkowankowa Industrial Park in Tzaneen on […]

Business In The News South Africa

Nehawu still consulting members about latest SARS wage offer

JOHANNESBURG,  April 2 – The National Education, Health and Allied Workers’ Union (Nehawu) said on Tuesday that it was still consulting its members about the latest wage offer tabled by the South African Revenue Services (SARS). Khaya Xaba, Nehawu national spokesperson, said in a telephonic interview that the union’s officials were having a meeting with members to […]

Business In The News South Africa

Eskom signs $180mln loan with BRICS bank to connect 670MW of renewable energy

JOHANNESBURG, 1 April – The New Development Bank (NDB) and South African power utility Eskom on Monday signed a U.S.$180 million loan agreement to connect 670MW of renewable energy projects to the national grid. Under the agreement, the bank will provide a loan with a sovereign guarantee to Eskom for renewable energy integration and transmission augmentation project. The […]

Business Lead South Africa

BRICS banks should not look at SA in isolation of its neighbours – Mboweni

CAPE TOWN, April 1 – The New Development Bank (NDB) cannot separate South Africa from its neighbours when deciding on extending development loans, Finance Minister Tito Mboweni said on Monday. Speaking at the fourth annual meeting of the NDB at the Cape Town International Convention Centre, Mboweni said countries in the Southern African Development Community […]

Business In The News South Africa

PIC welcomes court ruling on AYO Technology’s R4.3 m debt

JOHANNESBURG, March 27 – The Public Investment Corporation (PIC) has welcomed the decision by the High Court in Pretoria on Tuesday to set aside a compliance notice from the Companies and Intellectual Property Commission (CIPC) compelling AYO Technology to repay R4.3-billion within two weeks. AYO Technology owes the money to the PIC “The Court acknowledged that most […]