EconomyLoop
where regional business news becomes global to everyone

Fin24.com | Jordaan and co’s Day Zero for low-cost banking

Former FNB CEO Michael Jordaan and a band of his former colleagues announced their new “app-only” bank this week: Bank Zero.... read more

 South African Economy3 hours ago

     
Fin24.com | Jordaan and co’s Day Zero for low-cost banking

Former FNB CEO Michael Jordaan and a band of his former colleagues announced their new “app-only” bank this week: Bank Zero.... read more

 South African Economy4 hours ago
Fin24.com | SA to shine in 2018

World’s third-biggest investment bank says SA is the country to watch, given the ‘market-friendly’ outcome of the ANC’s elective conference.... read more

 South African Economy4 hours ago
Fin24.com | KPMG’s Nkuhlu promises drastic action

New chairman says he took the job to fix the damage done to the entire chartered accountancy profession.... read more

 South African Economy7 hours ago
Fin24.com | BBC fuming over Aveng’s alleged lies

The Black Business Council (BBC) is fuming over alleged misrepresentation of facts by listed company Aveng in one of its recent public announcements in which it claimed a transaction with a BEE partner fell apart because of failure to raise R20 milli... read more

 South African Economy7 hours ago
Fin24.com | Governing bodies need a wider role in schools

Hard facts seem not to have dampened official enthusiasm for the matriculation myth that is apparently aimed at cloaking the dismal reality of the schooling system.... read more

 South African Economy7 hours ago
Fin24.com | Barbrook deal in jeopardy

Creditors say a business rescue deal that needs to raise R310m is a delaying tactic.... read more

 South African Economy7 hours ago
Fin24.com | Bitcoin falls back

Dollar prices for the original and most traded cryptocurrency, Bitcoin, fell below $10 000 for the first time since November last year this week before recovering slightly back to around $11 000.... read more

 South African Economy7 hours ago
Fin24.com | False start for Uber drivers’ employee claim

A potential watershed case to recognise Uber drivers as employees got quashed in the labour court earlier this month, with none of the merits tested.... read more

 South African Economy7 hours ago
Fin24.com | BBC finds some of its missing millions

A portion of the missing R5 million that the suspended Black Business Council (BBC) president Danisa Baloyi was suspended over has apparently been repaid, but the embattled executive is also set to face the music over her alleged unauthorised trips.... read more

 South African Economy7 hours ago
Fin24.com | Guptas challenge IDC’s lawyers in R287.5m case

The Gupta family’s Oakbay group of companies has disputed that the Industrial Development Corporation’s (IDC’s) lawyers have the authority to represent the financier in its R287.5 million case against the group.... read more

 South African Economy7 hours ago
Fin24.com | Business welcomes govt’s 'commitment' to restore confidence with new Eskom board

Business leaders have welcomed the appointment of Eskom’s new board as a sign that there is political will to restore confidence in state-owned enterprises.... read more

 South African Economy15 hours ago
Fin24.com | Koko: I will go to work on Monday and wait and see

Former acting Eskom CEO Matshela Koko says he heard the news of his removal “as everyone else did” and he will wait for the board to advise him of government’s decision.... read more

 South African Economy17 hours ago
Fin24.com | BREAKING: Businessman Jabu Mabuza to chair Eskom, Koko and Singh to be removed immediately

Telkom Chairperson Jabu Mabuza will chair Eskom’s board as part of a host of measures announced by government to “stabilise management” at the power utility.... read more

 South African Economy19 hours ago
Fin24.com | More than 200 senior Eskom managers give Ramaphosa deadline to act

More than 200 senior Eskom managers expressed their concern over the lack of “decisive and bold actions against allegations of fraud, corruption and maladministration” in a letter to Deputy President Cyril Ramaphosa.... read more

 South African Economy20 hours ago
Fin24.com | As Nene awaits news on Eskom top job, DA vows Khoza won't go scot-free

Former finance minister Nhlanhla Nene says the matter of whether he’ll be appointed as Eskom chair is “still under consideration” and he hopes for a conclusion before the end of the day.... read more

 South African Economy22 hours ago
Fin24.com | Eskom chair quits 'in the interest of the country'

Eskom chairperson Zethemba Khoza confirmed to Fin24 that he submitted his resignation to Minister of Public Enterprises Lynne Brown and he's waiting for her to accept it.... read more

 South African EconomyYesterday
Fin24.com | Angola's hefty airlines bill

Angola still owes more than $500m to international airlines, one of many items in the in-tray of new President Joao Lourenco as he tries to revive the economy.... read more

 South African EconomyYesterday
Fin24.com | Brown hands Eskom ultimatum over Huarong loan agreement

Public Enterprises Minister Lynne Brown has given the Eskom board an ultimatum to hand her a report on a controversial loan agreement by close of business on Friday.... read more

 South African EconomyYesterday
Fin24.com | Blocked funds increasing problem for airlines in Africa - Iata

In nine African countries international carriers are unable to repatriate foreign currency earnings, while locally-based airlines experience difficulties too.... read more

 South African EconomyYesterday
Fin24.com | Top7 on Fin24: Deloitte breaks silence on Steinhoff, Trevor Noah loses out on Trump's 'fake news' award

ICYMI: A roundup of Friday's must-read financial and economic news.... read more

 South African EconomyYesterday
Fin24.com | SA wine industry faces most challenging year ever - expert

This year is the most challenging the domestic wine industry has ever faced, according to Francois Viljoen, head of viticulture and soil science at VinPro.... read more

 South African EconomyYesterday
Fin24.com | UK retailers see Black Friday hangover as sales plunge

UK retail sales have fallen the most in 18 months in December as stores experienced their customary post-Black Friday lull.... read more

 South African Economy2 days ago
Fin24.com | World, we need you - Mnangagwa's message to Davos

Zimbabwean President Emmerson Mnangagwa has made history by responding to questions from ordinary citizens at the #RoadtoDavos meeting, ahead of his trip to to the World Economic Forum.... read more

 South African Economy2 days ago
Fin24.com | SARB's rates decision broadly in line with expectations

The SARB’s decision to keep the repo rate at 6.75% was in line with market expectations, while the rand strengthened.... read more

 South African Economy2 days ago
Fin24.com | #GuptaLeaks: Meet the money launderers

The Guptas used an international network of scrap metal dealers to launder hundreds of millions in kickbacks between China, India, UAE and SA. We introduce them.... read more

 South African Economy2 days ago
Fin24.com | Max du Preez: One thing more dramatic than SA's state capture

Despite what economists say, if SA can get a spark of belief in the business sector, others will start believing again too, says political analyst Max du Preez.... read more

 South African Economy2 days ago
Fin24.com | Top S&P exec says Eskom in danger of debt default

The global ratings agency spoke out on the same day that Finance Minister Malusi Gigaba and Investec voiced concerns about Eskom's financial situation.... read more

 South African Economy2 days ago
Fin24.com | Varied reaction from property sector on SARB interest rate decision

Property experts give their views on how the SA Reserve Bank's latest decision to keep interest rates unchanged will impact the domestic property market.... read more

 South African Economy2 days ago
Fin24.com | Zim has high hopes as Mnangagwa heads to Davos

There is an air of renewed hope and optimism in Zimbabwe as President Emmerson Mnangagwa - the first Zimbabwean president to attend the World Economic Forum in Davos - readies for the meeting.... read more

 South African Economy2 days ago
Fin24.com | JUST IN: Reserve Bank Governor to steer International and Monetary Financial Committee

Reserve Bank Governor Lesetja Kganyago has been appointed chair of the International Monetary and Financial Committee (IMFC).... read more

 South African Economy2 days ago
Fin24.com | Top6 on Fin24: SARB keeps repo at 6.75%, Eskom could collapse SA economy, Viceroy unmasked

ICYMI: A roundup of Thursday's must-read financial and economic news.... read more

 South African Economy2 days ago
Fin24.com | Eskom crisis could lead to another downgrade

Eskom's pressure on South Africa's fiscus could see further credit downgrades from the rating agencies, a new risk report from Investec has warned.... read more

 South African Economy2 days ago
Fin24.com | SA Reserve Bank keeps repo rate unchanged

At its first meeting for the year, the South African Reserve Bank's monetary policy committee has decided to leave the repo rate unchanged at 6.75%.... read more

 South African Economy2 days ago
Fin24.com | We'll win over sceptics in Davos - Ramaphosa

Deputy President Cyril Ramaphosa says Team SA will woo sceptical investors with the message that renewal is taking place when he leads the country's delegation to the upcoming World Economic Forum.... read more

 South African Economy3 days ago
Fin24.com | SA companies regulator charges KPMG, McKinsey, SAP

The Companies and Intellectual Property Commission has laid criminal charges against the local units of KPMG, McKinsey and SAP for contraventions of the Companies Act.... read more

 South African Economy3 days ago
Fin24.com | China posts first full-year pickup since 2010 on global tailwind

China’s economy has sealed its first full-year acceleration since 2010, underpinning global growth and giving authorities more room to purge excessive borrowing.... read more

 South African Economy3 days ago
Fin24.com | Eskom could collapse SA economy, warns Gigaba

Finance Minister Malusi Gigaba has warned that if Eskom is not dealt with urgently, South Africa's whole economy could collapse by the time the World Economic Forum in Davos ends.... read more

 South African Economy3 days ago
Fin24.com | SARB could hike interest rate to lure more capital - PwC

Will the repo rate go up or stay the same? A number of experts give their opinion on what the Reserve Bank's monetary policy committee will decide about interest rates this week.... read more

 South African Economy3 days ago
Fin24.com | SA aims to patch up threadbare clothing industry

South Africa is fighting to revive its frayed clothing industry, once a crucial provider of jobs, as a flood of cheap imports forces factories to shutter and lay off workers.... read more

 South African Economy3 days ago
Fin24.com | Talk of wealth tax causing anxiety among super rich

There is general discontent among high net worth individuals in SA who feel they are potentially being unfairly burdened by ever-increasing taxes, says an expert.... read more

 South African Economy3 days ago
Fin24.com | Gupta-linked companies feeling the pinch

The walls are caving in on the Gupta family as the NPA's Asset Forfeiture Unit targets R50bn worth of assets connected to the state capture report by former public protector Thuli Madonsela.... read more

 South African Economy3 days ago
Fin24.com | Top5 on Fin24: Eskom payments to Trillian and Mckinsey criminal, Bitcoin to possibly face fate of history's big bubbles

ICYMI: A roundup of Wednesday's must-read financial and economic news.... read more

 South African Economy3 days ago
Fin24.com | Two months may make a big difference for MPC

Two months can be a long time in monetary policy as well as politics, with the SARB's rate-setting committee set to meet with the rand at its strongest level since mid-2015.... read more

 South African Economy3 days ago
Fin24.com | DA's proposed law to strengthen PIC transparency to be tabled in parliament

A new Bill that wants to give greater power to the National Assembly to appoint the chair of the Public Investment Corporation (PIC) will be tabled in parliament soon.... read more

 South African Economy3 days ago
Fin24.com | SA trade expectations now well into positive territory - index

Trade expectations for the next six months is now well into positive territory, according to an index released by the SA Chamber of Commerce and Industry.... read more

 South African Economy3 days ago
Fin24.com | NPA concludes Eskom payments to McKinsey and Trillian were criminal

Eskom's payments to McKinsey and Trillian were criminal and a deliberate and fraudulent circumvention of the power utility’s supply management processes, the NPA has found.... read more

 South African Economy3 days ago
Fin24.com | Lord Hain's corruption comments 'unfortunate and regrettable' - SARS

The SA Revenue Service has rejected statements made by British peer Peter Hain linking it to corruption and state capture.... read more

 South African Economy4 days ago
Fin24.com | Expect Singh, Koko to take stand when Eskom inquiry continues - DA

A date has been set for the inquiry into the extent of state capture at Eskom, according to a statement issued by the DA.... read more

 South African Economy4 days ago
Fin24.com | New SARB MPC member appointed ahead of rates decision

A 7th member of the SA Reserve Bank's Monetary Policy Committee has been appointed ahead of its first interest rate decision for 2018.... read more

 South African Economy4 days ago