Business In The News South Africa

Mixed reaction to Mboweni appointment as SA finance minister

JOHANNESBURG, October 10 – The appointment of Tito Mboweni as South Africa’s new finance minister triggered a mixed reaction on Wednesday, with one political party welcoming his previous experience in government and at the central bank, while another said his views on the economy may not be as “market friendly” as first assumed. President Cyril Ramaphosa […]

Lead South Africa

Ramaphosa should accept finance minister Nene’s offer to resign – DA

JOHANNESBURG, October 8 – President Cyril Ramaphosa should accept Finance Minister Nhlanhla Nene’s reported offer to resign over the controversy surrounding his visits to the controversial Gupta family, the main opposition Democratic Alliance said on Monday. Nene last Friday apologised for not disclosing early and fully the details of his meetings with the family, saying he […]

In The News South Africa

Parliament may approach courts on Revenue Service executive’s tax probe

PARLIAMENT, December 6 – Parliament’s standing committee on finance may approach a high court to see whether it could compel South African Revenue Services (Sars) commissioner Tom Moyane to answer questions about an investigation into the tax affairs of one of its senior executives, it emerged on Tuesday. “Instead of going around in circles, can […]

Business In The News South Africa

Regulatory board to fast-track probe into KPMG’s work for Gupta family

PARLIAMENT,  October 3 – The Independent Regulatory Board of Auditors said on Tuesday it has met with KPMG international chairman Bill Thomas and urged him to ensure full cooperation with its investigation into work the auditing firm did for the Gupta family’s business empire. IRBA CEO Bernard Agulhas said since that meeting, which also included KPMG SA […]

In The News South Africa

Moody’s downgrades South Africa

WINDHOEK, June 10 – Moody’s Investors Service downgraded South Africa’s rating to Baa3 on Friday, and assigned a negative outlook. Moody’s also downgraded the government’s senior unsecured short-term program rating to (P)P-3 from (P)P-2. The rating actions conclude the review for downgrade that commenced on April 3. National Treasury noted the downgrade on Friday and called […]