Business In The News South Africa

Competition Commission approves Tharisa Minerals acquisition of MMC Contracts

JOHANNESBURG, July 6 –  Tharisa Minerals announced on Thursday that the Competition Commission had approved its acquisition of MCC Contracts. Last month, Tharisa Minerals entered into a R303.3 million deal to purchase a portion of the mining fleet and transfer employees from its mining contractor in a bid to transition to an owner mining model. MCC Contracts […]

Business In The News South Africa

Government has no intention of amending Constitution on SA Reserve Bank’s mandate

CAPE TOWN, July 5 – Finance Minister Malusi Gigaba has instructed legal counsel to institute judicial review proceedings in a bid to have Public Protector Busisiwe Mkhwebane’s findings and remedial action on Absa Bank and the SA Reserve Bank (Sarb) set aside, his office announced on Wedneday afternoon. In her report titled “Alleged Failure to […]

Business In The News South Africa

Sars says it targets R1.265-trillion revenue collection for 2017

JOHANNESBURG, July 4 – The South African Revenue Services (Sars) said on Tuesday, that some media have incorrectly inflated its revenue collection target for 2017. This comes after reports that Sars aimed to collect over R1.6 trillion this tax season, though warning that the technical recession could have an impact. Sars Commissioner Tom Moyane, together with […]

Business In The News South Africa

Foschini hauled to consumer tribunal over selling club magazine subscriptions

JOHANNESBURG, July 4 – Foschini Retail Group, a wholly-owned subsidiary of TFG (The Foschini Group), on Tuesday was referred to the National Consumer Tribunal for allegedly being in breach of the National Credit Act for selling its club magazine subscriptions to consumers. TFG said National Credit Regulator considered the selling the club magazine subscriptions to be […]