Business In The News South Africa

Energy Minister mulls criminal charges over sale of SA’s strategic fuel stocks

PARLIAMENT, May 30 – Energy Minister Mmamoloko Kubayi on Tuesday told MPs she was considering criminal charges relating to the sale of 10.3 million barrels of South Africa’s strategic fuel reserves. Briefing Parliament’s portfolio committee on energy, Kubayi again confirmed the fuel stocks were “sold” and not rotated as was claimed by her predecessor Tina […]

Business In The News South Africa

Famous Brands says junk status will harm business and consumer confidence

JOHANNESBURG, May 29– Famous Brands said on Monday that the downgrade of South Africa’s sovereign credit rating to sub-investment status would harm business and consumer confidence. Famous Brands said its management does not envisage an improvement in the home market economy in the near future. Notwithstanding this context, Famous Brands said it will remain strongly […]