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Get the latest Business and Financial news in South Africa as it happens.

Police Minister to assess OR Tambo security

  JOHANNESBURG – The Minister of Police, Fikile Mbalula is set to visit the OR Tambo International Airport on Monday. According to a statement issued by his office, the minister will be meeting with the South African Police Service (SAPS) Management, Home Affairs, State Security and the Ekurhuleni Metropolitan Police …

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US unemployment rate ticks up to 4.4 percent in June

  WASHINGTON – US job creation rebounded in June while the unemployment rate ticked higher as more people entered the work force in search of jobs, the Labor Department reported Friday. The US economic engine created another 222,000 jobs in last month, while the jobless rate rose a tenth of …

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Provisional report on tax refund delays finalised

  The Tax Ombud’s provisional report on the investigation into tax refund delays has been submitted to the South African Revenue Service (Sars) for comment on Monday. Former Finance Minister Pravin Gordhan approved the investigation into tax refund delays as a systemic issue in March, after the Ombud, Judge Bernard …

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Land reform and property rights in SA

  There is widespread agreement that land reform in South Africa has failed, but that the extent is convoluted by the lack of unreliable data. This was the view of Ben Cousins, a professor at the University of the Western Cape, and founder of the Institute for Poverty, Land and …

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Recession-proof stocks for you

  SIKI MGABADELI:  You are probably tired of hearing it but, sorry for you, it can’t be avoided. South Africa is officially in recession. I think it’s the first time since 2008/9 that we’ve entered a recession – and that is defined as two quarters of negative GDP growth. But …

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SMEs and Tax: what to consider before registering your business

  However, the decisions entrepreneurs make from the outset will have lasting consequences. Businesses, in general, benefit from a lower tax rate than private individuals. Small businesses are typically liable for three types of tax: turnover tax, value added tax (VAT) and an employee tax, comprising Pay-As-You-Earn (PAYE) and Unemployment …

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SA banks rated strongest in the world

International banking advisory group Lafferty has rated South African banks as the strongest globally. Lafferty ranked 100 major banks in 32 countries for long-term stability and quality of service in corporate and retail banking. The group said sovereign downgrades that recently plunged South Africa into junk status haven’t affected the …

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Zimbabwe’s unemployment rate at 90 percent: union

Zimbabwe’s largest workers union, the  Zimbabwe Congress of Trade Unions says the country’s unemployment rate is now at 90-percent. The unions said a change of leadership is the only solution to the country’s economic crisis. Addressing the workers day celebrations in Harare, Zimbabwe’s main opposition leader Morgan Tsvangirai said President …

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