Business In The News South Africa

Ramaphosa says Eskom challenges are being addressed

JOHANNESBURG, January 16  – President Cyril Ramaphosa on Wednesday said that government was taking necessary steps to address challenges faced by Eskom as it remained an albatross around the country’s neck. Ramaphosa was speaking at a Team South Africa pre-World Economic Forum breakfast meeting in Rosebank, Johannesburg, The troubled state-owned power utility is facing a myriad of […]

Business In The News South Africa

Sibanye says 2018 gold production to be only marginally below guidance

JOHANNESBURG, January 10 – Gold producer Sibanye-Stillwater said on Thursday 2018 gold production at its South Africa operations was expected to be just marginally below guidance due in part to the successful implementation of measures to mitigate the impact of a strike. Members of the Association of Mineworkers and Construction Union (Amcu) downed tools last November […]

Business In The News South Africa

SA land reform department hands over R34mln worth of farming tools in Free State

PRETORIA, DECEMBER 21- Four farms in Sasolburg in the Free State on Friday became the beneficiaries of R34 million worth of farming equipment from the national department of rural development and land reform (DRDLR).   Acting department director-general Rendani Sadiki was present at the handing over ceremony on behalf of minister Maite Nkoana-Mashabane.   “We […]

Business Lead South Africa

Edcon board approves structure of proposed recapitalisation plan – CEO

JOHANNESBURG, December 21 – The board of troubled retail company Edcon has approved the structure of a proposed recapitalisation plan and in response lenders have extended waivers to allow time for implementation, CEO Grant Pattison said on Friday. “The restructuring and recapitalisation of Edcon has passed its next hurdle,” Pattsion said in a brief statement. […]

Business In The News South Africa

Shoprite Checkers and Computicket referred to Competition Tribunal for prosecution

CAPE TOWN, December 20  – The Competition Commission on Thursday said it has recommended event ticket distributors Computicket and Shoprite Checkers be fined 10 percent of their annual turnover. In a statement, the commission said it had referred the two companies to the Competition Tribunal for prosecution. “The two companies have been charged with signing […]

Business In The News South Africa

‘Edcon’s looming demise proof that Jobs Summit was a sham,’ says union federation

JOHANNESBURG, December 17  – The crisis facing retail giant Edcon Holdings shows that the presidential Jobs Summit that was meant to cushion South Africa’s rising unemployment was a sham, said the SA Federation of Trade Unions (Saftu). ”Saftu is appalled at the prospect of the imminent liquidation of Edcon, which could lead to the loss of […]