Dr. Reuel Khoza has been appointed as the first non-political chairman of the state-owned Public Investment Corporation, the largest asset manager in Africa, the Minister of Finance Tito Mboweni announced at the new board’s inaugural meeting today. Khoza is a former chairman of Eskom and Nedbank, and the author of numerous books. A new 13-member […]

The head of the Independent Power Producers Office, Karen Breytenbach, who has overseen more than R200 billion invested in renewable projects in South Africa since 2011 – at a time when the country has been trying to move away from coal energy – has been asked to vacate her position early because of what the […]

The International Monetary Fund’s latest report on the World Economic Outlook has predicted that South Africa will continue to have a slower growth that much of sub-Saharan Africa, even slower than previously anticipated. In its report, “Still Sluggish Global Growth,” which was released today, the IMF predicted growth in South Africa of 0.7 percent in […]

Prince Albert II of Monaco was in South Africa this weekend to present the Rhino Conservation Awards (RCA) 2019 to all those heroes who dedicate their lives to conserving Africa’s iconic rhino. The Prince – who is married to South Africa’s former Olympic swimmer Charlene Wittstock – said he admires all those honoured as well […]

Travel between Germany and more parts of South Africa will be easier, now that Lufthansa and Mango, the low-cost subsidiary of South African Airways, have started a code-sharing agreement. In 2017 Mango took over certain routes from SAA, such as such as Durban, Port Elizabeth and George. Because it did not have the same interline […]

The South African government is making an extra R59 billion ($4.24 billion) available to Eskom for the power utility to use over the next two years, according to a special appropriation bill seen by Reuters on Monday. The allocation of the funds to the state-owned company is to ensure that Eskom can pay its debts […]

PURCHASE, N.Y. and JOHANNESBURG – PepsiCo, Inc. today announced that it has entered into an agreement to acquire all the outstanding shares of Pioneer Foods Group Ltd. for R110.00 per share (about $1.7 billion), Pepsi said in a statement. Pioneer owns brands like Ceres, Liqui-Fruit, Weetbix, Bokomo, ProNutro, Sasko, Safari, Spekko and White Star. “Pioneer Foods has […]

PRETORIA – The South African central bank cut its main lending rate by 25 basis points to 6.50%, as expected, citing weak economic growth and inflation which has stayed around the midpoint of its target range. The last time the South African Reserve Bank (SARB) cut its repo rate was in March 2018. The SARB […]

Loyiso Basso says he left a life of drugs and crime after he realised he was wasting his life and making his mother suffer. The 30-year-old opened a restaurant in Makhaya, Khayelitsha. It has been running for two years. Pamela Mkhabela, a neighbour, says: “People used to be so scared of him [Basso], but now […]

JOHANNESBURG – There’s good news for unemployment in South Africa, as the SA unit of Ford Motor Co has announced on Wednesday that it will hire an additional 1,200 people to staff an extra shift at one of its vehicle assembly plants. According to a statement from Ford, this will increase production to 720 units […]

Thanks to popular demand, here are even more ‘Expat Tax’ questions submitted by SAPeople members, with answers kindly provided by the expert tax team at Tax Consulting South Africa. Dear SAPeople Members, The positive responsive from the community has been phenomenal. We encourage you to continue submitting your questions and look forward to those unique […]

Eskom’s Group Treasurer Andre Pillay has tendered his resignation in the latest high-profile exit from South Africa’s power utility, since its chief executive quit earlier this year. No reason was given for his resignation. As requested by Eskom, Pillay will stay a couple of months until the end of August 2019 “to ensure a seamless […]

It’s been almost a year since the Commission of Inquiry into allegations of state capture in South Africa began to hear testimony. Also known as the Zondo Commission, it is headed by Deputy Chief Justice Raymond Zondo, who has listened to 130 days of live testimony from more than 80 people. It is probing allegations […]

As most know by now, SARS is grappling to increase revenue for their coffers, looking to South Africans who earn foreign income to subsidise the deficit… writes Jonty Leon, Admitted Attorney of the High Court of South Africa and Financial Emigration Legal Manager. Seafarers versus SARS As of 1 March 2020, the amended exemption on […]

While many South Africans in SA were rejoicing this week after the Department of Home Affairs announced that SA passports are now being issued within 13 working days… South African expats abroad shared their horror stories of waiting six months to a year (some even more), and begged for the service to be sped up […]

CAPE TOWN – South Africa needs to start planning now for new nuclear power capacity to come online after 2045, Energy Minister Gwede Mantashe said on Thursday, reopening a heated debate about whether the country should build more nuclear reactors. President Cyril Ramaphosa put nuclear expansion on the back burner after taking office in February […]

On July 16, one of the most luxurious trains in the world, the South African Rovos Rail, set off to make the first-ever passenger train trip from the Indian Ocean to the Atlantic. It is the second major journey across Africa that the private rail company has launched in its 30 years. The train journey […]

A new luxury game lodge in South Africa has been long-listed for an international design award. The lodge – Cheetah Plains – was designed by ARRCC with décor by OKHA in the Sabi Sand South Africa. ARRCC, which has been selected to compete in the 2019 Dezeen Awards in the Hotel and Short Stay category, […]

JOHANNESBURG – South Africa’s Public Enterprises Minister Pravin Gordhan on Wednesday challenged in court a ‘Rogue Unit’ report by the Public Protector (SA’s anti-corruption watchdog) that instructed President Cyril Ramaphosa to take unspecified disciplinary action against Gordhan. Gordhan launched an urgent application to set aside the Public Protector’s report, calling it “dishonest” and “reckless”. Last […]

The Minister of Finance, Tito Mboweni, today announced the appointment of a new interim board for the Public Investment Corporation. The twelve appointees include Maria Ramos, the former chairman of ABSA, Sindi Mabaso-Koyana, Irene Charnley, and Reuel Khoza, according to a statement released by the Treasury. Mboweni has broken with tradition and given the PIC […]

The highly respected governor of the South African Reserve Bank, Dr Lesetja Kganyago, has been reappointed for another five-year term by President Cyril Ramaphosa, in what is seen as a move that will reassure markets. The move was quickly welcomed by many in financial markets. Kganyago’s second term will start in November, it was announced […]

The independence of the South African Reserve Bank (SARB) is paramount – providing an important check on government-controlled fiscal policy, SARB Deputy Governor Kuben Naidoo stressed on Tuesday. Naidoo’s comments – made during a public lecture – come following a high-profile row over the role of the bank. The row has seen a division in […]

South Africans were left a little surprised by a Twitter war – aka Twar – that went down on Friday between none other than Finance Minister Tito Mboweni and Gauteng Premier David Makhura. Following comments made by Makhura regarding e-Tolls (the user-pay system on Gauteng’s freeways), Mboweni lambasted him about long-term returns, the similarity to […]

Travelling to Brazil just got easier as South African Airways (SAA) has signed codeshare and frequent flyer agreements with local Brazilian airline Gol – Linhas Aéreas (GOL). The agreements came into effect on Thursday, and not only contribute to SAA’s strategy of growing partnerships globally… but benefits customers with more travel options. SAA acting Chief […]

JOHANNESBURG – President Cyril Ramaphosa said today that South Africa could not let the economy be held back by the US-China trade war, and referred directly to the recent controversial developments around the Chinese company Huawei. “This standoff between China and the US where the technology company Huawei is being used as victim because of […]