Business In The News South Africa

KZN local cane farmers rally together to survive

CAPE TOWN, October 12 – South African sugar cane growers in Amatikulu, northern KwaZulu-Natal, have rallied together to raise enough capital to buy Unitrans’ assets in the two operational areas.   Longstanding haulier Unitrans’ ceased cane haulage operations in their area, impacting the income of 50 commercial growers and more than 2,500 small-scale cane growers in […]

Business In The News South Africa

Verimark interim revenue boosted by new products and additional stores

JOHANNESBURG, October 12 – South African appliance and housewares producer, Verimark Holdings, pointed to increased advertising spend and additional stores as it reported a 13.7 percent revenue increase to R209.7 million for the six months ended 31 August from R184.4 million last year. Verimark achieved positive revenue growth despite the decline of the South African economy […]

Business In The News South Africa

SA revenue services collects R1bln from special voluntary disclosure programme

JOHANNESBURG, October 10 – The South African Revenue Service (Sars) said on Tuesday that it had collected more than R1 billion from about 2000 taxpayers during the Special Voluntary Disclosure Programme (SVDP). The SVDP offered non-compliant taxpayers a once-off opportunity during a limited window period running from 1 October 2016 to 31 August 2017 to regularise their unauthorised foreign assets […]

Business In The News South Africa

Fresh produce market agents charged for price fixing

JOHANNESBURG, October 11 – The Competition Commission on Wednesday referred 14 fresh produce market agents and their association, the Institute for Market Agents of South Africa, to the Competition Tribunal for prosecution in relation to charges of price fixing and fixing trading conditions in contravention of the Competition Act. This follows search and seizure operations conducted by the Commission […]

Business In The News South Africa

Exxaro sells portion of Tronox stake in U.S. for R6.5billion

JOHANNESBURG, October 11 – Diversified miner Exxaro Resources said on Wednesday that it has completed the sale of at least 20 percent stake in Tronox Limited for approximately US$474 million, or about R6.5 billion. Tronox Limited is a NYSE-listed company engaged in the mining, production and marketing of inorganic minerals and chemicals. The South African coal and […]