by Kelebogile Matlou Minister of Trade, Industry and Competition Parks Tau has outlined a robust oversight framework for the government’s R100 000 Spaza Shop Support Fund, aimed at supporting township-based micro-businesses. Speaking in response to Parliamentary questions from DA MP Anna Maria van Zyl, Tau confirmed that the fund will be administered via the National…
by Kelebogile Matlou Gerrie Fourie, CEO of Capitec Bank, which is the biggest bank in South Africa in terms of clientele, has caused controversy by asserting that the actual unemployment rate in the nation might be as low as 10%, far lower than the official estimate of about 33%. Fourie made the case in an…
by Kelebogile Matlou The South African government will give more financial support to Transnet, a company that runs ports and freight trains. This support will help Transnet pay off its debt and improve its services. Barbara Creecy, minister of transportation, announced last month that the government had granted a guarantee for Transnet for R51 billion,…
by Kelebogile Matlou South Africa’s public education system is on the brink of collapse as several provinces face alarming budget shortfalls. Minister of Basic Education, Siviwe Gwarube, issued a stark warning earlier this week, stating that without urgent intervention, some Provincial Education Departments could run out of funds before the end of the financial year….
by Kelebogile Matlou Eskom, South Africa’s struggling power utility, has revealed that 87% of municipalities approved for the National Treasury’s municipal debt relief programme are not complying with the set conditions. The announcement was made during a briefing to Parliament’s Standing Committee, where Eskom raised alarms over the deepening crisis of municipal non-payment, a major…
by Kelebogile Matlou The World Bank approved a $1.5 billion (R26 billion) loan for South Africa to help with structural changes aimed at renewing infrastructure and strengthening the economy. The money is in response to the country’s economic woes, including slowing economic expansion and a nearly 33% unemployment rate. The financing will primarily target the…
by Kelebogile Matlou The National Union of Metalworkers of South Africa (NUMSA) has characterized Goodyear’s announcement to close its manufacturing facility in Nelson Mandela Bay, Eastern Cape, as a significant setback to jobs in the area. About 900 people are directly employed by the facility, which has been in operation since 1947. It also supports…
by Kelebogile Matlou Gauteng Premier Panyaza Lesufi, MEC for Human Settlements Tasneem Motara, and Mogale City Mayor Lucky Sele officially launched the R5 billion Leratong Smart City Project, an ambitious development set to transform the west of Johannesburg with a massive mixed-use urban hub. The project, located near Randfontein Road and the Leratong Hospital, is…
by Kelebogile Matlou The SPAR Group has reported a massive R4 billion loss for the first half of its 2025 financial year, which ended on 28 March 2025. The massive loss was confirmed on Wednesday,4 June 2025, when the group released its interim financial results. The financial blow comes largely as a result of the…
by: Kelebogile Matlou In a surprising move that has turned heads across South Africa, Gauteng Finance MEC Lebogang Maile withdrew and re-tabled the province’s 2025/2026 budget, just weeks after its original submission. The last-minute revision came in response to sweeping national fiscal adjustments triggered by global economic instability. Gauteng Finance MEC Lebogang Maile image: Sharon…
