Business

Fin24.com | Mugabe under scrutiny in bid to trace Zim‘s missing diamond billions

Fin24.com | Mugabe under scrutiny in bid to trace Zim‘s missing diamond billions

Harare – Former Zimbabwean president Robert Mugabe was scheduled to appear before parliament on Wednesday to provide information about the diamond mining industry, after the country reportedly lost more than $15bn through nefarious activities.  Zimbabwe experienced a diamond mineral rush in September 2006, with the country touted to become one of the world’s biggest diamond-producing countries. Government, which was experiencing […]

Fin24.com | Treasury urges tighter regulations, more consequences for irregular spend

Fin24.com | Treasury urges tighter regulations, more consequences for irregular spend

Cape Town – Treasury on Wednesday reiterated the need to “revisit” procurement regulations, saying some government officials were abusing processes for deviations and expansions. These officials not only abuse process but also believe they are entitled to do so, Parliament‘s Standing Committee on Public Accounts (Scopa) heard on Wednesday. This was according to a submission from National Treasury‘s director general […]

Fin24.com | Mantashe determined to end policy uncertainty with June charter deadline

Fin24.com | Mantashe determined to end policy uncertainty with June charter deadline

Mineral Resources Minister Gwede Mantashe says his department is on course to meet the June deadline to finalise the Mining Charter, calling it part of the “policy uncertainty” hindering business. Speaking at the Chamber of Mines annual general meeting, Mantashe said he is encouraged by the consultation process his department has been conducting since he took office in February. Deadline […]

Fin24.com | REVEALED: Top 10 municipalities responsible for R13.4bn irregular spend

Fin24.com | REVEALED: Top 10 municipalities responsible for R13.4bn irregular spend

Cape Town – Irregular spend for 2016/17 alone amounted to R13.35bn, according to a report from the auditor general. The report on local government audit outcomes was released by Auditor General Kimi Makwetu in Parliament on Wednesday. In total R28.376bn was identified as irregular expenditure. Of this, R15.026bn was expenditure from previous years that was uncovered and disclosed during 2016/17. […]

Fin24.com | JSE down amid global jitters on Trump’s China trade remarks

Fin24.com | JSE down amid global jitters on Trump’s China trade remarks

Johannesburg – The JSE closed weaker on Wednesday as it followed the trend in global equities which pulled back after President Donald Trump’s comments on China trade talks. Trump implied that a deal with China would be hard to accomplish, which ignited fresh fears into financial markets with US markets closing weaker on Tuesday as a result. On Wednesday, Asian […]

Fin24.com | Higher inflation to see SARB keep interest rate steady – analysts

Fin24.com | Higher inflation to see SARB keep interest rate steady – analysts

The higher inflation print for April makes a stronger case for the monetary policy committee (MPC) to keep the repo rate on hold, according to analysts. Statistics South Africa on Wednesday released April’s consumer price index which was at 4.5%, compared to 4.1% reported in March. Fuel hikes and increases in so-called sin taxes drove up inflation, while the impact […]

Fin24.com | AngloGold Ashanti to cut another 2 000 jobs – unions

Fin24.com | AngloGold Ashanti to cut another 2 000 jobs – unions

Johannesburg – Mining unions have received notices from AngloGold Ashanti for the retrenchment of 2 000 workers in all job categories and levels. This follows the announcement in 2017 of over 9 000 job cuts, some of which were averted through the sale of the some of its operations to Harmony Gold and Heaven Sent SA Sunshine Investment Company, transfers […]