News

Sibanye-Stillwater,

Sibanye-Stillwater Presses Ahead with R2.5B Renewable Energy Investment

Government, News /

  • Sibanye-Stillwater’s Resilience: Despite facing significant delays caused by land claims, Sibanye-Stillwater remains committed to advancing its renewable energy projects, showcasing resilience in overcoming obstacles.

  • Strategic Investment in Renewable Energy: The company’s commitment of R2.5 billion underscores its strategic investment in renewable energy initiatives, highlighting its dedication to sustainability and environmental responsibility.

  • Contributing to South Africa’s Renewable Energy Landscape: Sibanye-Stillwater’s renewable energy projects are poised to contribute significantly to South Africa’s renewable energy goals, aligning with broader national ambitions to increase renewable energy capacity and reduce reliance on fossil fuels.

Sibanye-Stillwater Presses Ahead with R2.5B Renewable Energy Investment Read More »

President Thabo Mbeki

Former President Accuses Eskom of Deliberate Load-Shedding Scheme

Government, News /
  • Thabo Mbeki’s Explosive Allegations: Former South African President Thabo Mbeki accuses Eskom of deliberately orchestrating load-shedding, contradicting claims of insufficient generation capacity or government negligence.
  • Challenges Facing Eskom: The accusations reignite debates on Eskom’s performance, including issues of aging infrastructure, financial mismanagement, and allegations of corruption, raising questions about accountability within the organization.
  • Implications and Responses: Mbeki’s claims prompt calls for investigations into Eskom’s operations and governance structures, with mixed political reactions and renewed emphasis on the need for transparency and accountability within the energy sector.

Former President Accuses Eskom of Deliberate Load-Shedding Scheme Read More »

Untreated Sewage Crisis

Government Pursues Criminal Charges Against 26 Municipalities Over Sewage

Government, News /
  • Government Action: The National Department of Water and Sanitation has initiated 36 criminal cases against 26 municipalities, highlighting the government’s decisive stance in addressing the widespread issue of untreated sewage across the country.
  • Environmental and Public Health Concerns: The article underscores the severe consequences of untreated sewage spills, including environmental degradation, public health hazards, and compromised quality of life for affected communities.
  • Call for Accountability and Remedial Action: By pursuing criminal charges against negligent municipalities, the government emphasizes the need for accountability in wastewater management and advocates for proactive measures to prevent future incidents, safeguarding both the environment and public health.

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"Shoprite Defies Sector Slump,

Shoprite Defies Sector Slump, Emerges as Top Performer

Business News, News /
  • Shoprite stands out as the best-performing JSE-listed food retailer in 2024, despite facing challenges, showcasing its resilience and strategic positioning in the market.
  • Competitors like Spar, Woolworths, and Pick n Pay have experienced significant declines in share prices and financial performance due to various factors such as operational issues, debt burdens, and economic headwinds.
  • Shoprite’s ability to sustain market share gains, innovate, and navigate challenges underscores its agility and customer-centric approach, positioning it favorably amidst industry turbulence and reaffirming its status as a stalwart of the retail sector.

Shoprite Defies Sector Slump, Emerges as Top Performer Read More »

"Cape Town's Extortion Epidemic

Cape Town’s Extortion Epidemic Threatens City’s Economic Stability

Government, News /
  • Extortion has emerged as a pervasive threat in Cape Town, infiltrating various sectors such as construction, transportation, and small businesses, leading to widespread fear and instability.
  • The study identifies four distinct extortion economies operating within the city, each characterized by coercive tactics, gang affiliations, and corruption, with criminals seamlessly navigating between them.
  • The report highlights the urgent need for coordinated efforts to combat extortion, advocating for surveillance, targeted law enforcement interventions, and community engagement initiatives to safeguard Cape Town’s economic prosperity and societal well-being.

Cape Town’s Extortion Epidemic Threatens City’s Economic Stability Read More »

shell garage

Shell Considers Exiting South Africa, Stirring Investment Concerns

Business News, News /
  • Shell’s Potential Exit: The article discusses reports indicating that Shell, a major player in South Africa’s energy sector, is contemplating divesting its majority stake in Shell Downstream South Africa, sparking speculation about its future presence in the country.
  • Investment Climate Concerns: It highlights broader concerns regarding South Africa’s investment climate, as evidenced by recent developments such as BHP’s bid for Anglo American, and comments from Volkswagen’s CEO about challenges facing the automotive manufacturing sector.
  • Resilience Amidst Challenges: Despite these challenges, the article underscores continued investor confidence in South Africa, as exemplified by Volkswagen’s recent multi-billion rand investment in its local manufacturing plant and PwC’s research indicating enduring attractions for foreign investors despite structural impediments.

Shell Considers Exiting South Africa, Stirring Investment Concerns Read More »

Divorce and Retirement Funds

Unveiling the Complex Dance of Divorce and Retirement Funds

Finance News, News /
  • Complex Legal Framework: Divorce and retirement funds in South Africa are governed by a complex interplay of laws, including the Pension Funds Act and the Divorce Act, alongside considerations of marital property regimes.
  • Dependence on Active Membership: Access to a member’s pension interest by a non-member spouse hinges on the active status of the member in their fund at the time of divorce, regardless of whether the benefits remain within the fund.
  • Marital Property Regimes and Tax Implications: The type of marital property regime, such as in community of property or out of community of property with or without accrual, determines the extent of the non-member spouse’s claim to pension interest. Additionally, tax considerations affect the distribution of pension interests, offering options such as cash lump sums or tax-free transfers to approved retirement funds.

Unveiling the Complex Dance of Divorce and Retirement Funds Read More »

MC Mining

Eastern Platinum Limited Achieves Record Revenue Growth in 2023, Sets Ambitious Targets for 2024

Business News, Capital Markets, Finance News, Investing News, Stock Market /
  • Eastern Platinum Limited (Eastplats) reported record annual revenue of $106.9 million in 2023, a 98.3% increase over the previous year.
  • The company’s operational efficiency was evident in significant improvements in mine operating income and net income.
  • Eastplats outlined ambitious targets for 2024, focusing on resolving outstanding receivables, ramping up operations, and optimizing plant circuits.

Eastern Platinum Limited Achieves Record Revenue Growth in 2023, Sets Ambitious Targets for 2024 Read More »

grips of load shedding,

Eskom Extends Load Shedding Suspension Indefinitely, Relief Continues

Government, News /
  • Extended Suspension of Load Shedding: Eskom has announced the continuation of the suspension of load shedding until further notice, providing temporary relief to South Africa’s energy consumers following a 39-day hiatus.
  • Sustained Generation Capacity: Eskom attributes the extended suspension to sustained generation capacity, highlighting efforts in bolstering its generation fleet, rigorous maintenance schedules, and optimizing existing power plants for increased efficiency.
  • Sufficient Emergency Reserves: Critical to Eskom’s ability to stave off load shedding has been the maintenance of sufficient emergency reserves, serving as a buffer to navigate through periods of heightened strain on the grid without resorting to widespread power cuts.

Eskom Extends Load Shedding Suspension Indefinitely, Relief Continues Read More »

Rand Defies Political Turbulence,

Rand Defies Political Turbulence, Strengthens Amidst Economic Uncertainty

Government, News /
  • Rand Resilience Amid Political Uncertainty: Despite wavering support for the ruling ANC, recent polling indicates continued favor for the party, bolstering the rand’s stability amidst political turbulence.
  • Analysts Assert ANC Dominance: Economic experts emphasize the ANC’s enduring significance in South Africa’s political landscape, attributing the rand’s strength to the party’s historical legitimacy and grassroots support.
  • Global Factors Impact Rand: External influences, particularly oil prices surging to $88.70 per barrel, contribute to the rand’s performance, highlighting the currency’s vulnerability to international market dynamics and geopolitical tensions.

Rand Defies Political Turbulence, Strengthens Amidst Economic Uncertainty Read More »