The rand strengthened further on Monday after Moody’s Investors Service held off on its ratings review of South Africa on Friday.
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The Rand is firm for now, but Moody’s delays ratings move!
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Chaos at Sars IT, the overhaul will cost R1bn to fix, but it is now on hold!
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A global advisory firm’s overhaul of the South African Revenue Service’s (Sars) modernisation and digitisation programme was not worth the hundreds of millions spent, according to Sars officials testifying before the Nugent Inquiry.
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Basa: Nhlanhla Nene fears worsening ‘jittery’ markets
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Uncertainty over the future of Finance Minister Nhlanhla Nene is leaving markets jittery, in a development the Banking Association of South Africa (Basa) has described as “unfortunate”.
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All they know is how to spend money:- Auditor General: Irregular spend at ‘all-time high’
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Auditor General Kimi Makwetu has lamented poor financial controls in the public sector that lead to irregular expenditure, saying the scourge has reached an “all-time high”.
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Shocking News: Eskom tariff hike: Here’s how much it costs to use your household appliances
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We’ve crunched a few numbers based on averages, and whichever way Eskom want to spin it, life is going to get tougher for consumers.
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Further fuel price rises expected due to the Rand that weakens sharply
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The rand was a lot weaker on Thursday morning‚ raising the prospect of yet another increase in fuel prices‚ which have been a political hot potato ahead of the general elections in 2019.
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AA – Record-breaking petrol price increase expected for South Africa
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South African motorists will face massive petrol price increases in October, according to the AA.
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SASSA News:- ‘Double social grants for six months’ – can this be possible?
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The social development department has made an extraordinary proposal to the inter-ministerial committee set up to find solutions to boost the economy: double social grants payments for six months.
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Treasury News:- Sars shortfall to blame for VAT hike, so we are paying for their incompetency!
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Treasury would not have needed to increase value added tax (VAT) by one percentage point to 15% in April if not for the revenue shortfall at the South African Revenue Services (SARS), deputy director general at national treasury Ismail Momoniat told the Nugent commission of inquiry on Wednesday.
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Three of the VBS execs provisionally sequestrated, Vele liquidated
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Provisional sequestration orders have been granted against three businessmen in the VBS Mutual Bank fraud saga.
Vele Investments, VBS’s main shareholder, has also been liquidated.
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Brace yourself for new Mandela banknotes and coins
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The new series of banknotes and R5 coin designed to celebrate milestones of former president Nelson Mandela’s life will go into circulation next week Friday. “Every commemorative banknote and the R5 circulation coin tell a story of Madiba from a milestone chapter in his life‚ from his humble beginnings in Mvezo‚ to his pursuit of..
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Brace yourself, tougher times are still ahead
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As temperatures plummeted across the county this week, fuel prices hit record highs of R16.02 for a litre of 95-octane petrol in Gauteng.
Taxi fares and the cost of basic foodstuffs are also expected to rise as a result. But beyond appealing to manufacturers and service providers to hold off on increases, there is no immediate plan for the government to help hard-hit consumers.
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Toll Fees, Petrol to add to consumer debt burden
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Consumers already owing R1.37-trillion in debt will feel more heat from higher fuel and toll prices in May, said a debt expert.
Neil Roets, CEO of Debt Rescue, said in a statement that consumers will also have to contend with financial pressures from the 1% VAT increase.
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Christo Wiese, Resigned Chairperson, sues Steinhoff
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Resigned Steinhoff chairperson, Christo Wiese, has lodged a claim of R59-billion against Steinhoff International. In a statement released on Thursday afternoon Wiese’s Titan Group, announced that it had served a summons on Steinhoff for the amount which related to investments made into the retailer in 2015 and 2016. In one case, companies in the Titan..
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Well Eskom are looking at taking R67-billion out of your pocket
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The objections to Eskom’s efforts to claw back almost R67-billion in revenue began in earnest this week as the first round of public hearings into the matter got underway.
But this is not the end of attempts by the power utility to recover money it believes it is owed.
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