Business

Locked-down bars survive through gamblers’ luck

Business Lester Kiewit - 13 Aug 2020

Forced to turn away drinkers, bars and pubs with slot machines have managed to keep their doors open during the tough national lockdown

Econ Oil gears up for R5-billion fight with Eskom

Business Sabelo Skiti - 13 Aug 2020

The power utility’s tender cleanup exposes rifts inside Megawatt Park amid allegations of selective prosecution

War of words over declined medical aid merger

Business Thanduxolo Jika - 13 Aug 2020

Sizwe Medical Fund has taken a swipe at the Council for Medical Schemes for declining its merger with Hosmed

Long road ahead for tourism-sector recovery

Business Thando Maeko - 9 Aug 2020

The pandemic has caused 50 000 businesses in the sector to temporarily close, putting 600 000 jobs at risk

Cambridge Food Jozini: Pandemic or not, the price-gouging continues

Business Paddy Harper - 9 Aug 2020

The Competition Commission has fined Cambridge Food Jozini for hiking the price of its maize meal during April

Businesses should use alternative energy sources, industry bodies advise

Business Tshegofatso Mathe - 8 Aug 2020

Business associations are urging companies to continue seeking alternative energy sources in light of Eskom’s court judgement which would allow the utility to bump up electricity prices up to 15% from next year April 2021.

White men still rule and earn more

Business M&G Data Desk & Sarah Smit - 7 Aug 2020

Women and black people occupy only a few seats at the JSE table, the latest PwC report has found

Cosatu proposes interventions to tackle Covid-19 procurement graft

Business Thando Maeko - 6 Aug 2020

In light of irregular spending on Covid-19 procurement, Cosatu recommends that politically connected people be barred from doing business with the state

Covid-19 a ‘catalyst for closing the pay gap’

Business Sarah Smit - 4 Aug 2020

Executive directors earn 66 times the national minimum wage and are overwhelmingly white, a report by assurance, advisory and tax services company PwC has found

Tito needs the IMF, South Africa doesn’t

Business Dick Forslund - 1 Aug 2020

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

Business Sabelo Skiti - 31 Jul 2020

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

OECD urges SA to reform to recover from pandemic effects

Business Thando Maeko - 31 Jul 2020

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

Business Thanduxolo Jika & M&G Data Desk - 30 Jul 2020

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

Business Sabelo Skiti - 30 Jul 2020

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

Business Tshegofatso Mathe - 30 Jul 2020

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

Business Thando Maeko - 29 Jul 2020

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

Business Thando Maeko - 28 Jul 2020

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

State agency lies about exec ‘purge’

Business Sabelo Skiti - 26 Jul 2020

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

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