Business In The News South Africa

SA steel and engineering industries welcome Absa’s November Purchasing Managers’ Index

JOHANNESBURG, December 1 – The Steel and Engineering Industries of Southern Africa (SEIFSA) on Friday welcomed the latest preliminary data released by the Absa Purchasing Managers’ Index (PMI), which indicated an improvement in overall business activity in the manufacturing sector.   The PMI data released on Friday improved from 47.8 percent in October 2017 to […]

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

Tito Mboweni wages in on Public Protector’s findings against Absa

JOHANNESBURG, June 20 – Former governor of the South African Reserve Bank (Sarb), Tito Mboweni, on Tuesday waged in on the Constitutional amendment into the powers of Sarb as proposed by the Public Protector, saying that they were too fundamental. This comes after Public Protector Busisiwe Mkhwebane on Monday criticised Sarb for failing to recover R1.125 […]

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 […]

In The News South Africa

ANC Women’s League welcomes Public Protector report on Absa

PRETORIA, June 20 – The African National Women’s League (ANCWL) has welcomed the Public Protector report which instructs the Special Investigating Unit (SIU) to recover misappropriated public funds given to ABSA totalling over R1 billion. On Monday, Public Protector Busisiwe Mkhwebane criticised government and the South African Reserve Bank (SARB) for failing to recover more […]