The Reserve Bank announcement that the repo rate is reduced by 0.25% is a very slight sugar stroke over other shocks that consumers are going to hit and their living standards will be negative.
Just after Easter week fuel
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No good news for consumers, you’re going to struggle more
Today is a full day of hearings into corporate scandals in Parliament
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South African corporate scandals will be the order of the day in Parliament on Tuesday, as the standing committee on finance rolls up its sleeves for a full day of hearings into the imbroglios at Steinhoff, KPMG, VBS Mutual Bank, and the SA Revenue Service.
The committee will start by receiving briefings on Capitec Bank and VBS Mutual Bank on Tuesday morning.
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SASSA admits:- We have no feasible contingency plan for cash payments of grants
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The South African Social Security Agency’s (Sassa) contingency plan to manage the cash component of the social grants system, were the Constitutional Court to deny an extension of the invalid CPS contract, was only work in progress, its acting CEO has said.
The Constitutional Court last week demanded that both Sassa and the South African Post Office (Sapo) clarify the contingency measures, put in place to deal with the payment of social grants.
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SASSA Saga: There will be chaos if CPS contract is not extended, court hears
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The South African Social Security Agency (Sassa) does not have alternative plans if the court refuses to extend the Cash Paymaster Services (CPS) contract by another six months, the Constitutional Court heard on Tuesday.
“There will be chaos,” Nazeer Cassim, the advocate for Sassa, argued before a full Bench.
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$50-million cryptocurrency scam cripples South African investors
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More than 27‚500 people‚ including South Africans‚ Americans and Australians have been duped by the one of biggest bitcoin scams to hit South Africa.
Hawks spokesman Captain Lloyd Ramovha on Thursday confirmed that the serious commercial crimes unit was investigating complaints against BTC global‚ a company in which thousands invested cryptocurrency valued at over $50-million by transferring bitcoins into an online wallet address.
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Fuel prices expected to drop by 36 cents
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The Automobile Association (AA) has announced that the fuel prices are expected to drop on the 7th March.
Following to the unaudited month-end fuel data released by the Central Energy Fund, the AA said petrol is set to go down by 36 cents, diesel by 47 cents and paraffin by 26 cents.
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Steinhoff implosion staggers SA
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The collapse of Steinhoff International’s share price this week, following allegations of accounting fraud, is being described as the biggest corporate failure on the JSE so far, but it may just be the tip of the iceberg. On Thursday afternoon, Finance Minister Malusi Gigaba said he supported a decision by the Financial Services Board (FSB)..
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How you will pay for Zuma’s free education plan
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The government is considering drastic budget cuts to fund free higher education, including cutting social grants, freezing the roll-out of RDP houses and increasing taxes. With the country facing an unpre-cedented R50.8‑billion revenue hole, a treasury document has been put before President Jacob Zuma by the presidential fiscal committee, outlining possible areas where budgets could..
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UK to probe European banks linked to SA state capture
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A complaint about European banks who may be involved in the illicit financial flows of state capture in South Africa has been forwarded to two law enforcement agencies in the United Kingdom, leaving these banks open to investigation and prosecution. The Chancellor of the Exchequer Philip Hammond forwarded a message about banks based in the..
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