SA business owners reluctant to incur more debt under current economic conditions – Basa

Business owners are reluctant to incur more debt while uncertain business conditions and a weak economic outlook hampers their ability to generate sustainable income from which they can repay the... 

City of Cape Town gets ready to roll out business retention and expansion visitation programme

The City of Cape Town is preparing to implement its business retention and expansion (BR&E) visitation programme which will be rolled out in Cape Town industrial areas progressively over the next... 

Western Cape govt gives green light to mixed-use redevelopment

The Western Cape provincial government has given the green light to the River Club redevelopment in Observatory,  Cape Town which is expected to create over 6 000 direct jobs, the developers said... 

Eskom to implement rolling power cuts as generation units break down

South African utility Eskom said on Tuesday it would implement rolling blackouts from 4pm until 10pm, and again the following day, after breakdowns in some generation units left the electricity... 

Power system severely constrained for this week ahead as return of generation units delayed, says Eskom

Embattled State-owned power utility Eskom has warned that the power system will be severely constrained for the week ahead as the return to service of generation units has been delayed. "Eskom... 

Ramaphosa moves SA to lockdown alert level 2, lifts alcohol and tobacco bans

President Cyril Ramaphosa on Saturday evening announced the lifting of South Africa's much anticipated prohibition on alcohol and tobacco sales and inter-provincial travel as he confirmed that the... 

Stage 2 load-shedding to continue, Eskom says

Despite successfully returning four generation units to service, Eskom on Thursday has said this will not stave off load-shedding and has announced that it will continue to implement Stage 2... 

Eskom to resume rolling power cuts due to generation unit breakdowns

South Africa's electricity utility Eskom said on Thursday it would implement rotational powercuts from 8am to 10pm  due to an increase in breakdowns of its generation units, warning that the... 

SA alcohol ban costs economy R15.4bn in taxes – Distell

Multinational brewing and beverage company Distell said on Monday the alcohol industry had already lost 118 000 jobs while nearly 800 small and medium sized liquor manufacturers faced bankruptcy as... 

Redavia deploys first solar farm in Kenya at Menengai Farmers

A global market leader of cost-effective, reliable and clean solar power for businesses, Redavia has deployed its first solar farm in Kenya for Menengai Farmers tea farm in Tigoni. In a statement... 

World Bank approves $300m for promotion of electricity trade in West Africa

An amount of $300-million has been approved by the World Bank Group from the International Development Association (IDA) credits and grants to support reforms that will help promote electricity... 

Eskom targets Gauteng, KZN for illegal connections and load reduction drive

Power utility Eskom said on Wednesday that it would be embarking on a roadshow to educate the public on issues impacting on the national power grid, such as illegal connections, infrastructure... 

'Relief' as Toyota confirms R2.5bn hybrid production in Durban

KwaZulu-Natal's MEC for economic development, Nomusa Dube-Ncube, on Wednesday expressed "relief" after Toyota South Africa Motors (TSAM) confirmed a R2.5 billion investment in the province's... 

IMF approves $4.3bn loan for South Africa

The International Monetary Fund (IMF) Executive Board has approved a US$4.3-billion loan for South Africa to help the country weather the Covid-19 health crisis on the economy, National Treasury... 

Reduced agricultural budget compounds food insecurity in SA

The South African Department of Agriculture, Land Reform and Rural Development received its budget allocation for the 2020/2021 financial year. This follows the national budget vote in February by... 

Mboweni says he has no plan to use emergency powers to fund SAA

Finance Minister Tito Mboweni has said in court papers that he has taken no decision to use emergency powers to avail money from the National Reserves Fund to South African Airways to bankroll its... 

Suggestion that SA can spend its way out of low growth is misguided – Mboweni

The suggestion that increased government spending is a solution to South Africa's persistently low economic growth is inconsistent with existing empirical evidence, Finance Minister Tito Mboweni... 

Ramaphosa announces ban on sale of alcohol, nationwide curfew returns

As South Africa heads towards a peak in coronavirus (Covid-19) infections, President Cyril Ramaphosa has announced that the sale of alcohol across the country will be suspended and a nationwide... 

Talks over Grand Ethiopian Renaissance Dam remain deadlocked

Negotiations between Egypt, Sudan and Ethiopia over the filling and operation of the controversial Grand Ethiopian Renaissance Dam (GERD) have produced no results after seven straight days of... 

SA mid-year population increases to estimated 59.62m

South Africa's mid-year population is estimated to have increased to 59.62-million in 2020, according to a report released on Thursday by Statistics South Africa. "Gauteng continues to record the... 

Eskom issues power alert due to 'constrained system'

South African power utility, Eskom on Wednesday issued an alert level one urging users to reduce electricity supply due to a constrained system. "Eskom requests the public to reduce electricity... 

South Africa's consumer confidence crashes to lowest level since 1985

Consumer confidence in South Africa plunged to its lowest in about 35 years during the second quarter of 2020, dragged down by the outbreak of Covid-19 and subsequent severe restrictions to almost... 

South African banks approve more than R30.6bn in Covid-19 relief

Local banks have so far approved more than R30.6-billion in relief to individuals and businesses affected by the Covid-19 pandemic and the national lockdown imposed in response, the Banking... 

Numsa, Sacca to take legal action to prevent SAA liquidation; call for Mboweni to be fired

The National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew Association (Sacca) intend to take legal action to prevent the liquidation of South African Airways... 

Nxesi welcomes arrest of five people who allegedly defrauded UIF of R5.7m in Covid-19 relief funds

Employment and Labour Minister Thulas Nxesi has welcomed the arrest this weekend of five suspects accused of being part of "the enterprise that scammed R5.7 million" from the Unemployment Insurance... 

National Treasury warns of debt spiral, refutes criticism of reneging on spending commitments

National Treasury on Friday warned in a briefing to MPs that failure to arrest South Africa's debt trajectory would see borrowing costs consume almost a third of the national budget by 2024 and... 

SA petrol price to rise by up to 172 cents from July 1, government says

The retail price of petrol in South Africa will increase by up to R1.72 (10 US cents) a litre from Wednesday while the wholesale price of diesel will rise by as much as R1.73, the department of... 

Transnet boosts capacity at Port of Cape Town to ease Covid-19 backlogs

South Africa's state-owned rail, port and pipeline company Transnet said on Tuesday it had introduced a number of solutions for the operational backlogs at the Port of Cape Town due to Covid-19,... 

Unions slam public enterprises department over exit from SAA consultative forum

The National Union of Metalworkers of South Africa and the South African Cabin Crew Association have slammed the decision by the department of public enterprises to abandon the leadership... 

Eskom has plan to avoid unexpected power supply disruptions – Mabuza

South Africa's state power utility Eskom has put a clear maintenance plan in place to avoid unexpected electricity supply disruptions, the country's Deputy President has said. In a written response... 

Treasury warns public finances dangerously overstretched

South Africa's finances are overstretched and unable to weather another severe shock, a senior National Treasury official warned on Thursday. "We are now in a position where we are dangerously... 

Dam levels continue to drop in South Africa

The Department of Water and Sanitation has revealed that South Africa's dam levels continue to decline as the country’s dry winter takes its toll on scarce water resources.  In a statement released... 

Public enterprises dept offers final severance packages to SAA workers

South Africa's public enterprises department said on Thursday it had offered final and fair voluntary severance packages to employees at struggling national carrier South African Airways which... 

Land Bank to get additional R3bn in extra budget, nothing for other SOEs

South Africa's National Treasury on Wednesday said it would allocate an additional R3-billion to the recapitalise the Land Bank, but said no other in-year spending adjustments were proposed for... 

Gordhan says private sector showing interest in restructured SAA

The South African government has received proposals from funders and potential airline partners in the private sector eager to play a role in South African Airways if it is restructured into a new... 

KZN MEC for Economic Development divulges plans to redevelop economy

The KwaZulu-Natal MEC for Economic Development, Tourism and Environmental Affairs Nomusa Dube-Ncube divulged on Tuesday the department's plans to redevelop the province's economy.  Prior to her... 

R19m in funding approved through Operation Vula for small businesses

The KwaZulu-Natal MEC for Economic Development, Tourism and Environmental Affairs, Nomusa Dube-Ncube, said in a statement on Friday that she will be presenting a report to the Parliament portfolio... 

SA banks approve about R7bn in Covid-19 loans for small businesses

Local banks have approved just over R7-billion in loans for 4 800 qualifying small businesses since the launch of a Covid-19 loan guarantee scheme in mid-May to mitigate the economic impact of the... 

SA unions threaten legal action against business rescue plan for SAA

The National Union of Metalworkers of South African and the South African Cabin Crew Association said they had lost faith in the department of public enterprises, accusing it of sanctioning a... 

Public service minister acts against officials doing business with State

The department of public service and administration (DPSA) said in a statement on Thursday that it has written to relevant departments, instructing them to take action against officials who have...