Business In The News South Africa

Public Protector has erred, says Banking Association

JOHANNESBURG, June 20 – The Banking Association of South Africa (BASA) said on Tuesday that the Public Protector has erred in making comments and recommendations about the Constitutional mandate of the Reserve Bank. This comes after Public Protector Busisiwe Mmkhwebane on Monday ordered remedial action directing Parliament to effect a Constitutional amendment to the powers […]

Business In The News South Africa

Zuma hosts BEE workshop

PRETORIA, June 20 – President Jacob Zuma on Tuesday convened the Black Economic Empowerment Advisory Council (BEEAC) workshop focusing on radical socio-economic transformation in Pretoria. “This a workshop, not a regular meeting of the BEE Advisory Council. It arises out of some of the decisions the decisions that were taken at the last meeting. The […]

Business Lead South Africa

South African Reserve Bank to challenge Public Protector’s CIEX report findings

JOHANNESBURG, June 20 – The South African Reserve Bank (Sarb) said on Tuesday that the Public Protector had no powers to direct Parliament to effect a Constitutional amendment to the powers of the Reserve Bank, saying that it would challenge her findings. This comes after Public Protector Busisiwe Mmkhwebane on Monday criticised Sarb for failing to […]

Business In The News South Africa

Sibanye Gold secures two-year wage agreement at Stillwater operations

JOHANNESBURG, June 19 – Sibanye Gold announced on Monday that it has secured a two-year wage agreement with the United Steel Workers of America, International Union, the representative union at its Stillwater Operations in Montana, USA. Last month, Sibanye completed the acquisition of Stillwater, the United State’s sole provider of platinum and palladium, for $2.2 […]