Business In The News South Africa

SA banking industry hails appointment of Standard Bank’s new CEO

JOHANNESBURG, December 15 – The Banking Association of South Africa (BASA) on Friday hailed the appointment of former director-general of National Treasury, Lungisa Fuzile, as the new chief executive of Standard Bank SA as a “significant appointment” for the country’s banking industry. Standard Bank SA on Thursday, announced that Fuzile would take over the reigns as its new […]

Business In The News South Africa

Denel assures employees about salaries, 13th cheque

PRETORIA, December 15 – Financially-ailing South African state-owned arms manufacturer, Denel, on Friday moved to assure its employees that they will receive their December salaries as well as their outstanding 13th cheque payments. “Denel has today [Friday] confirmed to its employees, including all organised labour unions in the company, that the December salaries as well […]

Business In The News South Africa

South Africa’s economy grew 2 percent in third quarter, boosted by agriculture

JOHANNESBURG,  December 5 – South Africa’s economy grew by 2 percent in the third quarter of 2017 after expanding 2.8 percent in the second quarter, the statistics agency said on Tuesday. Statistics South Africa said the largest contributor to gross domestic product (GDP) during the period was the agriculture, forestry and fishing industry sector, which increased […]

In The News South Africa

Parliament approves R2.1 million payment for former energy minister

PARLIAMENT, December 1 – The National Assembly on Thursday approved a once-off gratuity of R2.1 million for former energy minister Tina Joemat-Pettersson who lost her post in President Jacob Zuma’s March Cabinet reshuffle.     The windfall was approved as part of the department’s adjusted budget, and was diverted from funding earmarked for a national solar […]

Business In The News South Africa

Government committed to addressing structural constraints to growth – National Treasury

PRETORIA, November 25 – The South African government is committed to addressing the structural constraints to growing the economy and improving public finances, and restoring business and consumer confidence and catalysing inclusive growth are the top priorities, the National Treasury said on Saturday. On Friday, ratings agency S&P Global lowered South Africa’s long-term foreign and […]

Business In The News South Africa

National Treasury to work with public enterprises to right Eskom

PARLIAMENT,  October 25 – A team of experts from National Treasury will work with the department of public enterprises to correct governance and financial management problems at Eskom, Finance Minister Malusi Gigaba said in his medium-term budget policy statement on Wednesday. He singled out the power utility as a source of particular concern for government, […]