MAIL & GUARDIAN: Business

Tito needs the IMF, South Africa doesn’t

The IMF loan is given with false motivation — to provide political cover for entrenched neoliberalism and deep cuts in the public service

Eskom cancels dodgy R100m tender linked to Mabuza’s niece

An internal investigation revealed ‘irregularities’ in the process of awarding the contract

OECD urges SA to reform to recover from pandemic effects

The OECD predicts a 7.5% contraction in South Africa’s GDP, with an 8.2% contraction if a second wave of Covid-19 is not avoided

It’s worse than we thought: The state of the SABC and the political battle over retrenchments

A bloated workforce, a stalemate over retrenchments and the need for the public broadcaster to be financially viable are holding back SABC’s turnaround strategy

No more space for political interference in state-owned enterprises

Rising debt, bloated structures and inefficiency make South Africa’s state-owned enterprises an urgent threat to the ailing economy

Jobs at stake as financial losses hit ArcelorMittal

South Africa’s steel producer’s earnings dropped in the first quarter of 2020 because of low demand and a lacklustre economy, exacerbated by the Covid-19 lockdown

South Africa gets $4.3bn IMF loan. In return, the country must reform

The loan, which is repayable over five years at an interest rate of 1.1%, comes with various self-imposed conditions such cutting the public wage bill and rationalising support to the state-owned entities

Treasury: IMF’s low interest Covid-19 loan will provide financial relief

The International Monetary Fund has approved a $4.3-billion – R71-billion – loan to South Africa to bolster the economic relief package

Prohibition threatens wine industry’s survival

According to Wosa, the South African wine industry contributes more than R40-billion to the South African economy catering for almost 300 000 jobs.

State agency lies about exec ‘purge’

South Africa’s animal vaccine agency said staff fled to avoid blame, but its CEO had in fact paid them to leave

Taverns hit hard by liquor ban

About R8-billion was lost during the hard lockdown and revenue is being slashed further

The glass is half empty

The ban on alcohol sales does not only affect liquor companies — it ripples lethally through other related businesses such as the bottle and packaging industry, which, if it closed, would mean job losses

Repo rate falls to 3.5% — its lowest since 1998

Repo rate drops to 3.5% as Reserve Bank predicts a 7.3% contraction in South Africa’s GDP

This time it’s different: African economies may not survive

Amid the headwinds created by the Covid-19 pandemic, it’s time the Aloe ferox, which survives in dry, harsh conditions, is nurtured — but the options are limited

The government is ‘not afraid of the taxi industry’ — Fikile Mbalula

Transport minister Fikile Mbalula says that the decision to allow taxis to operate at full capacity is driven by ‘rationale’, not fear

Hard hit restaurants can’t plate up

Restaurateurs have only been able to survive the Covid-19 restrictions by closing their doors — it’s just too expensive to serve guests on the premises

All agree: Use pension funds

The state wants to increase spending on infrastructure to drive economic recovery, and South Africans’ savings could help foot the bill

SABC staff ready to join picket line

The national broadcaster has rejected claims that it did not follow correct retrenchment and audit processes

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