11:30 (GMT+2), Fri, 22 January 2016
Global coffee and bakery chain Dunkin’ Brands Inc has signed a franchise agreement with South Africa’s Grand Parade Investments Ltd (GPI) to open more than 250 Dunkin’ Donuts restaurants and more than 70 Baskin-Robbins food shops in South Africa, focusing on Cape Town and Johannesburg.
The leading US brand said it would also launch Baskin-Robbins ice cream products at South African supermarket chains and c... read more
15:46 (GMT+2), Mon, 21 December 2015
The National Credit Regulator says the number of applications for credit decreased 2.37% percent quarter-on-quarter from R12.13m in June to R11.85m in September.
The NCR on Monday released the 'Consumer Credit Market Report' and the Credit Bureau Monitor, which are based on data submitted to the NCR by registered credit providers and credit bureaus respectively.
The CEO of the National Credit Regulato... read more
09:57 (GMT+2), Thu, 17 December 2015
The Financial Times of London reports that British Bank Barclays is actively looking for a suitor for its South African unit, Absa, after the recent merry-go-round at the country’s foreign ministry.
The publication ran an article on Wednesday under the headline,Barclays considers scaling back in Africa, saying that the bank was rethinking its near-century long presence in Africa as part of a review led by Jes St... read more
14:41 (GMT+2), Fri, 11 December 2015
South Africa’s Minister in the Presidency, Jeff Radebe, announced on Friday that there would be a special meeting of Cabinet’s economics cluster on Tuesday to discuss the country’s credit rating and falling currency.
International ratings agencies last week downgraded South Africa’s credit rating to one notch above junk status, and on Wednesday President Jacob Zuma axed Finance Minister Nhlanhla Nene... read more
13:06 (GMT+2), Thu, 10 December 2015
The Banking Association of South Africa on Thursday expressed concern at the removal of Nhlanhla Nene as finance minister and the lack of experience of his replacement David van Rooyen.
“The sudden Cabinet reshuffle announced by President Zuma last night, removing Minister Nene as finance minister is very concerning.”
The association’s managing director Cas Coovadia noted that though ratings agencies la... read more
16:15 (GMT+2), Wed, 02 December 2015
Domestic sales of new vehicles as well as vehicle exports were up marginally in November.
Industry association Naamsa said today that aggregate new vehicles were sales were up 0.4% year on year. However, new passenger car sales were down more than half a percent.
Overall, out of the total reported Industry sales of 51 256 vehicles, an estimated 85.0% represented dealer sales, 8.1% represented sales to the vehicle r... read more
10:23 (GMT+2), Fri, 02 October 2015
The Helen Suzman Foundation has asked Public Protector Thuli Madonsela to probe Eskom, Chancellor House and the ANC following the damning Hitachi revelations.
The request follows recent claims by the United States Securities Exchange Commission about the awarding of Eskom tenders to Hitach Power Africa.
The Commission has made damning allegations against Hitachi Power Africa and Chancellor House, which include Hitachi&rs... read more
10:11 (GMT+2), Fri, 02 October 2015
Johannesburg Mayor Parks Tau says new forms of mobility are needed to ensure the escalating cost of traffic congestion is brought to a halt.
Tau says as it stands, the economic impact that results from congestion in the whole of South Africa is over 1 billion rand.
He said Johannesburg accounts for the highest loss with more than 1.5 million vehicles registered across the metropole
He added that as the city'... read more
13:14 (GMT+2), Thu, 01 October 2015
Although the jury is still out on damage to the Volkswagen brand in South Africa as the scandal engulfing the German car manufacturer – whose name translates as the “people’s car” – grows, it seems there might be some respite for VW in (the People’s Republic of) China, where sales tax on small cars was halved as of Thursday.
Though most likely unrelated, the tax cut in China, designed to ... read more
15:48 (GMT+2), Wed, 16 September 2015
South African Breweries has invested R80 million into the brewing and packaging of Castle Lite beer at its Ibhayi Brewery in Nelson Mandela Bay.
The project, which was unveiled on Wednesday, is the first major upgrade at the Perseverance facility in 15 years.
The packhall upgrade will now be able to handle and label 750 ml and 660 ml bottles.
iBhayi brewery Manufacturing Manager Bryan Versfeld says the R80-million upg... read more
11:20 (GMT+2), Mon, 24 August 2015
The rand tumbled the most since 2011 amid increased concern that the plunge in commodity prices will deepen as China’s economy slows.
Fin24 reports that China is the top destination for South Africa’s raw materials, and the prospect of higher US interest rates will most likely worsen things.
Lower Chinese growth means weaker demand for commodities, as China is world’s largest consumer of raw materials b... read more
12:04 (GMT+2), Thu, 20 August 2015
One of the Sunshine Coast’s best-known hotels, the Royal St Andrews in Port Alfred, is reopening on the fourth of September after a R130 million makeover, as part of the Mantis Collection.
The investment by owner Martin Bekker has seen the historic 10-room lodge built in 1924 being transformed into a 60-room four-star quality hotel and spa, which blends tradition with modern design.
It is one of the biggest investm... read more
08:17 (GMT+2), Sat, 15 August 2015
THE Coega Development Corporation has welcomed national cabinet's decision to issue Transnet Port Terminals with a permanent operating license for operating the manganese terminal at the Port of Ngqura. The announcement was made public on Friday the 14th of August.
The operating license will support the upgrading of the South African railway network from the Northern Cape to the Port of Ngqura, adjacent to the Coega Ind... read more
07:56 (GMT+2), Fri, 07 August 2015
South African energy security through natural gas has taken a new direction with the Coega Development Corporation announcing a liquefied natural gas power plant for the Eastern Cape.
The project will support government's Integrated Resource Plan and a 2012 Ministerial Determination allocation of 2 652 Megawatts for energy from natural gas.
The combined cycle gas turbine plant will be the second power plant in the Co... read more
07:28 (GMT+2), Tue, 05 May 2015
Aggregate new vehicle sales for April were slightly down year-on-year.
Motor industry manufacturing association, Naamsa, says aggregate new vehicle sales in April came in at 44 503 units, down slightly down from the 46 016 units sold in April last year.
However, Naamsa says vehicle exports had continued to contribute positively to South Africa’s current account of the balance of payments.
New vehicle exports at ... read more