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

SA remains unequal, but people are living longer

Poverty has declined since 1994, but South Africa remains highly unequal and inequality is still largely defined along racial lines. Those were some of the key findings in the Development Indicators 2014 report, released on Sunday by Minister in the Presidency Jeff Radebe. The planning, monitoring, and evaluation minister said …

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Zuma’s nephew, other Aurora directors lose court bid

The directors of Aurora Empowerment Systems lost their bid to appeal a ruling that they are personally liable for Aurora gold mine debts on Friday. The appeal was denied in the High Court in Pretoria. Khulubuse Zuma and fellow Aurora directors Zondwa Mandela, Thulani Ngubani and Fazel and Solly Bhana …

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Rosatom moves to soothe SA nuclear fears

Rosatom officials in Russia showcased their finest examples of manufacturing and nuclear energy facilities to a group of SA journalists on Tuesday, allaying fears over safety and manufacturing delays. Rosatom, the Russian nuclear energy corporation that is seen as the preferred bidder to supply 9 600 MW of nuclear energy …

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Minister to brief cabinet on climate change plan

Environmental Affairs Minister Edna Molewa will in the coming week present cabinet with South Africa’s climate change plan ahead of the United Nations convention on climate change to be held in Paris, France from November 30 to December 11. The climate change plan is South Africa’s contribution to a new …

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Expect a tight electricity system, says Eskom

South Africans could soon experience their first-ever stage 4 load shedding, after Eskom confirmed that the stage allocation would be altered.

Eskom has kept the country’s lights on for five weeks, following a gruelling period of load shedding during winter. However the power utility cautioned on Sunday that the power system will be tight in the coming days owing to maintenance work. It will undertake planned maintenance on the Cahora Bassa …

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Possible price war among big SA retailers

The general retail outlook for South Africa is anticipated to be challenging and this could make a price war likely among the biggest local players, Jaco Prinsloo, a principal with global management consulting firm AT Kearney told Fin24 on Thursday. “There should be warning bells for local companies. Not only …

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Discovery posts healthy profits

Healthcare and financial services provider Discovery [JSE:DSY] on Thursday reported a 51% growth in new business to R17 532m for the year ending June 2015. This was mainly on the back of Discovery Health being awarded the business of Bankmed Medical Scheme, the group said in a statement. Normalised profit …

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House price growth shows consumer strain

The declining trend in year-on-year (y/y) growth in the average nominal value of homes in the various categories of middle-segment housing in South Africa continued in August, according to the latest Absa House Price Index. Average month-on-month price growth has slowed down further to below 0.2% in August – its …

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