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

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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The Economist slams ANC foreign policy

The Economist magazine said the ANC is turning its back on human rights and freedom by siding with some of the world’s ”nastier” regimes. In an article headed “Clueless and Immoral” on the majority party’s documents for its National General Council, it referred to opinions in the discussion document which …

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MultiChoice BEE shareholders receive R1.2bn dividend

Shareholders of MultiChoice’s broad-based black economic empowerment (BBBEE) scheme, Phuthuma Nathi, will receive R1.2bn in ordinary dividends this year. This is just over double the R554m amount paid to ordinary shareholders in 2014. The dividend comes amid Phutuma Nathi being debt free in the current year. The dividend was also …

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Energy minister to face questions over nuclear bid

The Democratic Alliance (DA) will on Tuesday ask Energy Minister Tina Joemat-Pettersson why Russia’s nuclear energy framework agreement looks like a signed deal compared to the other country’s agreements. Joemat-Pettersson will be briefing the Portfolio Committee on Energy in the National Assembly on the five international nuclear agreements. The country …

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