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Eskom bribery: Multinational ABB to pay SA R2.5 billion for shady Kusile deal
ASEA Brown Boveri (ABB), a multinational engineering firm, has agreed to pay over R2.5 billion in punitive reparations to South Africa for "serious crimes" committed at Eskom during the State Capture era. The National Prosecuting Authority (NPA) announced on Tuesday that its Investigating Directorate had reached an agreement with ABB. "This settlement represents a bold
BREAKING | Phala Phala: As pressure mounts, Ramaphosa tells allies that resigning is not out of the question
President Cyril Ramaphosa's closest allies are meeting at his Tuynhuys office in Cape Town, after he told them he was open to resigning. Top party leaders have been scrambling to figure out what the Section 89 panel report means for Ramaphosa in the immediate aftermath. "He said he is ready to leave," a Cabinet minister
SARS has made a significant change to assist taxpayers – here's what you need to know
The South African Revenue Service (SARS) has announced the permanent availability of its Voluntary Disclosure Programme (VDP). The VDP is a type of 'open door' policy that SARS has in place that allows taxpayers to regularise their tax affairs by coming clean on any tax non-compliance that may result in penalties or action if discovered
Google's Hustle Academy training programme has graduated at least 5 000 business owners
Google held graduation celebrations on Tuesday in South Africa, Kenya, and Nigeria. Google also announced a new speaker series at the events in which successful African entrepreneurs share lessons and advice, demonstrating the company's commitment to assisting entrepreneurs and small businesses in thriving. The Hustle Academy, which launched in February of this year, provides practical
Ramaphosa blames the protection unit head in his report on Phala Phala
MPs will have access to the report on Wednesday evening, according to Mapisa-Nqakula. The report of Parliament's Section 89 independent panel into the theft of foreign currency at President Cyril Ramaphosa's Phala Phala farm was handed over to National Assembly Speaker Nosiviwe Mapisa-Nqakula on Wednesday morning. The panel, led by former Chief Justice Sandile Ngcobo,
On Black Friday 2022, these were the best-selling items on Takealot
On Black Friday 2022, the online retail giant reported record-breaking growth, noting a 33% increase in value sold through its Blue Dot sale. It claimed that 3 million customers visited the site looking for bargains on the day, with the Gross Merchandise Value (GMV) exceeding any other Black Friday in its history. The group predicted
African Bank reports a nearly 40% increase in full-year profit
Lender African Bank reported nearly 40% profit growth as the number of loans given to retail customers increased to pre-pandemic levels, increasing interest revenue. The bank released its full-year financial results through September 30, 2022, revealing that profits after tax increased 38% to R736 million, up from R534 million previously. It disbursed more than R14
On Thursday, MTN Ghana may disconnect a quarter of its subscribers
MTN Ghana, Africa's largest mobile operator's third-most profitable market, is preparing to deactivate a quarter of its subscribers' SIM cards on Thursday in order to comply with a biometric registration directive from the country's regulators. The directive issued by Ghana's National Communications Authority concerns the deactivation of SIM cards that have completed the first stage
How to Protect Your WhatsApp Account as User Scams Increase
Following the leak of over 487 million WhatsApp user records, users of a popular messaging platform have reported an increase in spam texts. “Someone definitely bought USA records and now they are messaging my friends and family asking for money – I didn’t click any links or shared any PIN,” a Twitter user complained. They
Musk claims that Apple has threatened to remove Twitter from the App Store
In a series of tweets, Elon Musk said Apple threatened to remove Twitter from its app store without explaining why, and that the iPhone maker had stopped advertising on the social media platform. The billionaire CEO of Twitter and Tesla claimed that Apple was putting pressure on Twitter over content moderation requirements. Apple has not
SA no longer has the world's highest unemployment rate, as factories drive job growth
South Africa's official unemployment rate fell to 32.9%, ranking third among 82 countries and the eurozone monitored by Bloomberg. South Africa's unemployment rate now trails Namibia and Nigeria, though some data is out of date. From the second quarter of 2021, it held the record. Still, according to the expanded definition, unemployment stood at 43.1%,
Guards were apprehended after stealing thousands of litres of diesel from Eskom power station
Two security guards hired by Eskom to protect the Port Rex power station in East London were arrested on Monday for allegedly stealing nearly 6 000 litres of diesel. The guards were arrested while on duty, according to Eskom spokesperson Sikonathi Mantshantsha. The stolen diesel is worth slightly less than R146 000. "Through internal investigations,
Data leak on WhatsApp: 500 million user records for sale
Someone is allegedly selling the current phone numbers of nearly 500 million WhatsApp users. This is likely confirmed by a data sample examined by Cybernews. On November 16, an actor advertised a 2022 database of 487 million WhatsApp user mobile numbers on a well-known hacking community forum. Each country has a large number of phone
The non-life insurance industry is facing challenges, but it is not all bad news
The non-life insurance industry in South Africa is facing significant challenges. Following a difficult year in 2021 in which the industry dealt with the fallout from an unstable grid, mass riots and looting, and weather-related losses, optimism for an economic recovery has remained muted this year. Changes in the climate The impact of climate change
Banks in South Africa are warning customers to be wary of these banking scams
Consumers must be aware of common scams as online transactions become the norm and personal banking details are protected by a slew of passwords and authentication processes. Discovery Bank has urged its customers to be 'cyber-safe' during sales such as Black Friday and Cyber Monday, as well as the holiday season in general, citing the
Golden Arrow has ambitious plans to replace its diesel buses with locally built electric buses
Golden Arrow Bus Services (GABS) wants to increase the number of electric buses it operates, and it hopes to foster job growth by ensuring that some of the components are manufactured locally. In December 2020, the company began testing two electric buses and discovered significant energy savings of 60 to 70%. Golden Arrow's decision comes
Hawks take the fight against corruption to the municipal level
Several recent arrests of municipal managers in Mpumalanga, as well as one each in Limpopo and the Free State, indicate that the Hawks' anti-corruption campaign is spreading to the local level. The Hawks announced in August that it was investigating 22 000 cases worth R1.5 trillion. While the majority of these are high-profile, regional branches
RAMAPHOSA: it’s very easy to blame the President and government…
President Cyril Ramaphosa has assured South Africans that Eskom's problems, which have resulted in load shedding due to power plant breakdowns, will be resolved. On Thursday, the President briefed the media in London on the outcomes of his State Visit to the United Kingdom (UK). His Majesty King Charles III invited the two-day visit, which
Gauteng uses drones and panic buttons to combat crime
The Gauteng Treasury says it will spend millions of rands to combat crime in the province. MEC for Finance in the province, Jacob Mamabolo, presented the province's medium-term budget policy statement on Thursday (24 November), stating that the treasury has allocated R173 million for this goal in the most recent fiscal year. He stated that
What you need to know about returns, refunds, and delivery during Black Friday 2022
While many South Africans are gearing up for Black Friday (November 25), it is critical that they understand their consumer rights before spending any money. If a company or business, formal or informal, of any size, markets, distributes, manufactures, or sells goods and services in South Africa, it must follow the Consumer Protection Act 68