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money 2014



Sekunjalo Injects R500m To Boost Entrepreneurs Within Renewable Energy

February 09 2016  14:15 l   

South African entrepreneurs yesterday received a shot in the arm after Sekunjalo Investment Group committed R500 million to boost renewable energy initiatives and women-owned businesses.

 

Sekunjalo executive chairman Iqbal Survé said that the Sekunjalo Impact Fund would play a meaningful role in improving their quality of life.

Survé said the company had already made the amount available and extended an invitation to local and international investors to join in raising more money for the fund.

“Unlike most funds the focus won’t exclusively be on financial returns, but on the social impact the individual or company makes in improving the lives of people and communities. “There has to be a commercial return, but not as high as from the stock market and private equity funds,” Survé said.

Investment in the lucrative renewable energy industry has been a bone of contention after Eskom recently refused to sign further power purchase agreements with several independent power producers.

Survé, who was last month appointed to the Stewardship Board of the World Economic Forum’s Shaping the Future of Information and Entertainment System Initiative, said the fund would focus on empowering entrepreneurs who operate industries such as food and agriculture, climate change and health, media and education and shore up black entrepreneurs.


“The fund will be run by a management team with social impact funding experience.”

-Fin24

 

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Drought And Weak Rand Had A Devastating Impact On Employees' Income

January 31 2016  16:25 l   

Cape Town - Salary earners in South Africa have seen a drop in their inflation adjusted salaries for a seventh straight month in December, the latest BankservAfrica Disposable Salary Index (BDSI) released on Tuesday showed.

According to Dr Caroline Belrose, head of information services at BankservAfrica, the weak rand and drought had a devastating impact on real incomes of employees and their families as inflation hurt consumers’ pockets.

On a year-on-year level, disposable salaries in December 2016 were lower than in December 2015 and 2014.

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The Rand is Undervalued By 62.70%, According To The Economist Index

January 23  2016  13:45 l   

Johannesburg – The rand should be trading at R5.20 to the dollar, according to the latest Big Mac Index by The Economist.

According to the index, the rand is undervalued by 62.70%.

The Big Mac Index was put together by The Economist as far back as 1986. It measures whether currencies are at the “correct” level, based on the theory of purchasing power parity (PPP).

PPP suggests that in the long run, exchange rates should move towards the rate that would equalise the prices of an identical basket of goods and services, in this case a Big Mac burger, in any two countries


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There Is An Urgent Need To Restore Compact Between Business And Society - WEF 

January 18  2016  21:30 l   

Davos - Business leaders at the World Economic Forum Annual Meeting agreed that there was an urgent need to restore the compact between business and society.

Jim Hagemann Snabe, member of the Board of Trustees of the World Economic Forum said there was a crisis of confidence in leadership and that companies needed to be responsive and responsible to all their stakeholders.

"We have an opportunity to reinvent how we do business, to refocus our efforts towards ensuring long-term sustainability," he said.

Full Story

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Manufacturers In SA Concerned Over Subdued Business Sentiment 

January 12  2016  21:30 l   

Manufacturers in SA are concerned at the subdued business sentiment reflected in the latest Barclays Purchasing Managers’ Index for December 2016, released on Thursday. Industry body, the Manufacturing Circle, said the index, which provides a reliable guide to sentiment within the manufacturing sector, had not shown an improvement in demand in several months.

"At 46.7 index points, the South African index has remained below the neutral 50-point measure for the fifth month in a row — in contrast to a global upward trend," it said.

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SA Is Not Producing Enough School Leavers Competent In Maths And Science 


January 10  2016  11:30 l   

ANC Pinning Hope On Government's Black Industrialist Programme 


January 09  2016  12:10 l   

Cape Town  – The ANC is pinning its hopes on government’s Black Industrialists Programme, launched in 2016, to increase the black majority’s ownership of the economy. 

Hlaudi's Appointment Ruled Unlawful 


December 12  2016  15:10 l   

Cape Town - The Western Cape High court has ruled that Hlaudi Motsoaneng’s appointment as the SABC's group executive of corporate affairs as irrational and unlawful.

Econet Wireless Introduces Rand Wallet In Zimbabwe 


December 08  2016  16:40 l   

Harare – South Africa’s currency could effectively start circulating in Zimbabwe as mobile network Econet Wireless introduces rand wallet on its mobile money platform in the country.

Aarto System Has Become A Challenge For Traffic Fines Collections 


November 14  2016  14:50 l   

The cities of Johannesburg and Tshwane no longer want to be test cases for the Administrative Adjudication of Road Traffic Offences (Aarto) system over its enforcement issues and disappointing traffic fine collections.
Medium-Term Budget 2016 In A Nutshell 

October 26  2016  19:00 l   

Cape Town – South Africa is in a difficult economic transitional phase and consolidation and balance will be the key words regarding government finances over the next three years. That was the core 

Google Data Request On The Rise From Governments 


October 13  2016  10:00 l   

Washington - Google said Wednesday that data requests from governments around the world hit a record high in the six months ending in June, extending a steady rise.

President Zuma Officially Appointed Busisiwe Mkhwebane As New Public Protector


October 06  2016  10:10 l   

PRESIDENT Jacob Zuma has officially appointed advocate Busisiwe Mkhwebane as the new public protector for the next seven years, the Presidency said on Thursday.

SA Borders Needs To Be Protected From Illegal Immigrants And Their Illegal Businesses -JHB Mayor Herman Mashaba


October 04  2016  13:40 l   

JOHANNESBURG mayor Herman Mashaba has called for SA to strengthen its borders, saying it needs to be protected from illegal immigrants and their illegal businesses.

The Economy Must Be Controlled By Black Majority-Minister Brown


September 27  2016  18:10 l   

Johannesburg – The economy must be controlled by the black majority, said Minister of Public Enterprise, Lynne Brown.  Brown spoke to media briefly following a closed meeting with the Black 

Apple Linked With Buying Supercar Maker McLaren


September 22  2016  18:00 l   

Apple has been linked with a shock £1.5bn deal to buy McLaren Technology Group, the Formula One team owner and supercar maker.

A deal between Apple and the British company would dramatically shake up the technology and automotive industries. The California-based company’s interest in McLaren Technology Group highlights its ambition to develop technology that could be used in an electric and driverless car.

Full Story

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SAA Financial Statements For The 2014/2015 Show R5.6bn Loss

September 20  2016  21:40 l   

Cape Town - SAA’s losses for the 2014/15 financial year was R5.6bn — close to R1bn more than the expected amount of R4.7bn. 

Bank Of England Introduces Plastic Banknotes


September 13  2016  20:20 l   

London - The Bank of England introduced its first plastic banknotes on Tuesday, with a new five pound entering circulation in England and Wales featuring World War Two leader Winston Churchill.

AfriHost To Offer Free Daily 18 hour Internet Promotion


September 08  2016  17:00 l   

Johannesburg - Internet service provider Afrihost has attempted to shake up the local ADSL market with a promotion that offers free daily 18 hour internet.

MTN Zakhele Futhi R9.9 billion BEE Transaction Starting 12th September

September 07  2016  11:40 l   

Zakhele Futhi is a special purpose vehicle which will hold approximately 4% equity in the MTN Group. The new share scheme will give qualifying black participants a discounted way to own MTN  
Futuregrowth Should Have Raised Concerns With SOEs Before Going Public - Ralph Mupita

 September 06  2016  21:00 l   

Cape Town - Futuregrowth, the asset manager which withdrew funding to six of South Africa’s state-owned enterprises (SOEs), should have raised their concerns directly with these entities and not gone to the media, said Ralph Mupita, CEO of Old Mutual Emerging Markets. Full Story

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SA Steel Industry About To Collapse Due To Chinese Dumping

 August 30  2016  22:20 l   

Cape Town - Trade union Solidarity is calling for urgent preventative measures to stop Chinese dumping in the steel industry, which has already suffered about 11 000 job losses last year.
SA Healthcare Industry And Medical Schemes in Collusion -Cosatu

 August 26  2016  15:40 l   

Cape Town - In an open letter to the Competition Commission, Cosatu has accused the South African healthcare industry and medical schemes of collusion with regards to the availability of cancer screening tests. Full Story

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MTN To Unveil A R9.9bn BEE Zakhele Futhi Transaction In September 

 August 22  2016  12:00 l   

Johannesburg - Mobile network MTN is set to unveil a R9.9bn black economic empowerment transaction dubbed MTN Zakhele Futhi.
SA Agric Export Declined In 2015 Due To Drought  

 August 19  2016  17:40 l   

SA’s worst drought in decades has cost the country billions of rand in lost export revenue, data showed on Friday.
Union Signs New Offer To End Petrol Strike 

 August 17  2016  21:30 l   

Cape Town - South Africa's petroleum industry and striking workers agreed to a new two-year wage deal on Wednesday, an official representing employers said.
Capitec Bank Is The Cheapest Bank According To Solidarity Report 

 August 10  2016  20:30 l   

Cape Town - Capitec Bank is generally the cheapest bank for the needs of most people, despite strong competition from other banks, according to Solidarity's 2016 Bank Charges Report. Full Story

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Food Price Index Fell 0.8% Globally

 July 25  2016  17:40 l   

Rome - A fall in world food prices in July after five monthly increases suggests farmed commodities are unlikely to get much more expensive in the near future, a senior economist at the United Nations food agency said on Thursday. Full Story

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Verizon Buys Yahoo's Web Assets For $4.8bn

 July 25  2016  17:40 l   

San Francisco - Verizon Communications agreed to buy Yahoo’s web assets for $4.8bn (R68.6bn), ending the company’s two-decade run as an independent business that took it from Stanford University  Full Story
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Various Industries in SA Show Turnover Decline 


 July 18  2016  17:15 l   

Cape Town - With economic growth predicted at its lowest levels since 2009, the various industries in South Africa are also feeling the pinch, with turnover declining by 5.1% in the first quarter of 2016.  
SA To Make It Easier For Indian Citizens To Travel With Ease To The Country 

 July 08  2016  15:25 l   

SA IS working on relaxing visa regulations to make it easier for Indian citizens to travel with ease, President Jacob Zuma said on Friday.

Barclays Africa Pledges R1.3bn To Help African Small And Medium-Sized Businesses


 June 29  2016  12:25 l   

Johannesburg - Barclays Africa, majority owned by UK-based Barclays, has pledged R1.4 billion to improve skills development and access to quality education.

South Africa: 85% Of All Start-Ups Are Self-Funded


 June 29  2016  12:25 l   

Cape Town - Nearly 50% of start-ups say they created a business out of an idea that came to them from the environment in which they live, while 85% of all start-ups are self-funded.

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Most B-BBEE Certificates Are Fraudulent


 June 28  2016  22:50 l   

Johannesburg - Fronting B-BBEE transactions tops the list of the number of reported cases and complaints received so far by the Broad-Based Black Economic Empowerment (B-BBEE) CommissionFull Story

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SA is Making Progress In Its Nine Point Plan - The Presidency


 June 20  2016  22:50 l   

Cape Town - The South African Government is making steady progress in the implementation of its Nine Point Plan to reignite growth and create jobs, the Presidency said on Monday. Full Story

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MTN Group And Nigeria Agree On Fine Settlement 


 June 13  2016  18:35 l   

MTN Group stood head and shoulders above its rivals in the top 40 index on Monday as a relief rally in the shares of Africa’s biggest mobile operator continued for a second session running. Full Story

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SA Business Confidence Fell To New All-Time Low


 June 07  2016  14:35 l   

Johannesburg - South Africa's business confidence fell to a new all-time low in May hurt by poor performances in sectors such as manufacturing and retail, a survey showed on Tuesday. Full Story

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S&P Global Does Not See South Africa  Slipping Into Recession Soon

 June 05  2016  15:40 l   

Johannesburg - Ratings firm S&P Global Ratings said on Monday it does not see South Africa's economy slipping into a recession soon, but warned that economic reforms had to be implemented to avoid a downgrade in December. Full Story

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SA Recorded Trade Surplus For First Time In 2016

 May 31  2016  16:35 l   

SOUTH Africa recorded a trade surplus of R430m in April, the South African Revenue Service (SARS) reported on Tuesday. Full Story

 

 

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