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Business

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

SABC board to appear before Parliament

Parliament will discuss the fate of the SABC as well as the future of Hlaudi Motsoeneng on Wednesday. The communications portfolio committee wants the public broadcaster to explain its response to the Supreme Court of Appeal (SCA) ruling against Motsoeneng. Last month, the SCA confirmed an earlier court decision setting …

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MTN credit rating follows Nigeria’s downwards

MTN said on Monday that Standard & Poor’s had lowered the group’s credit ratings in the wake of its September 16 downgrade of Nigeria’s sovereign rating. “The sovereign downgrade reflects increased risk for MTN Group as MTN Nigeria is a significant contributor to the group,” MTN said. – Africa News …

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Global shipping firms raided in SA over suspected collusion

Six of the world’s biggest container shipping companies were raided by South African authorities on Wednesday on suspicion of colluding to inflate rates between Asia and South Africa, the Competition Commission said. The six companies comprise local subsidiaries of Denmark’s Maersk, Swiss-headquartered Mediterranean Shipping Company, France’s CMA CGM Shipping, Germany’s …

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Zuma congratulates South Africans on economy growth

President Jacob Zuma on Tuesday congratulated the South African government, business and labour after the announcement by Statistics SA (Stats SA) that the economy grew by a seasonally adjusted 3.3 percent in the second quarter. The growth was more than the 2.7 percent quarter which was predicted economists. Stats SA …

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New Durban floating dock launched

Trade and Industry Minister Rob Davies has launched a more than R290 million composite floating dock at the Dormac ship-repair facility in the Port of Durban, the trade and industry department (dti) said on Sunday. The project would created more than 300 jobs, the dti said in a statement. Speaking …

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