Africa Business In The News South Africa

Johannesburg ranked most visited city in Africa

JOHANNESBURG, October 10 – South Africa’s most-populated city, Johannesburg, has emerged as the most popular destination city in Africa in 2016 followed by Cape Town, according to the annual Mastercard Global Destination Cities Index released on Tuesday. The Mastercard Global Destination Cities Index showed that Johannesburg welcomed 4.57 million international overnight visitors in 2016, a […]

Business In The News South Africa

Autoliv agrees to pay R150million for contravening SA competition laws

JOHANNESBURG, October 9 – Autoliv Inc, the world’s largest automotive safety supplier, has agreed to pay an administrative penalty of almost R150 million after admitting that it contravened the South African Competition Act, the Competition Commission said on Monday. The Commission said Autoliv has concluded a settlement agreement for its involvement in prohibited practices like price […]

Business In The News South Africa

Black Business Council says Eskom CEO musical chairs doesn’t inspire confidence

JOHANNESBURG, October 9 – The Black Business Council (BBC) said on Monday that it was concerned by the sudden change of leadership at state-owned power utility Eskom, saying that government must give the enterprise some space and not meddle in its affairs. This comes after Eskom last week appointed its chief information officer and group executive for […]

Business In The News South Africa

Black Business Council meets to discuss leadership crisis at Eskom

JOHANNESBURG, October 9 – The Black Business Council (BBC) is meeting all its national office bearers on Monday to address the parlous state of leadership at Eskom. On Friday Eskom appointed its chief information officer and group executive for information technology, Sean Maritz, as its interim group chief executive in a “rotational basis” of the executive role. “The decision […]

Business In The News South Africa

Sasol changes funding option to settle old BEE scheme debt

JOHANNESBURG, October 9 – State-owned oil company, Sasol, on Monday announced that it would explore different funding options to settle the financing obligations of its failed Broad-Based Black Economic Empowerment (B-BBEE) ownership structure. Sasol said it will no longer pursue the preferred funding option of issuing up to 43 million ordinary shares through an accelerated […]