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Domestic worker salary in South Africa has increased significantly — here's how much you should be paying
The Department of Employment and Labour has published the new National Minimum Wage for South Africa. The minimum wage will be increased by 9.62% for the year, bringing the current figure to R25.42 (up R2.23 from R23.19 before). Agricultural labourers, like domestic workers, will be paid a minimum wage in line with the rate. Workers
Shoprite introduces new private label to help local companies
Shoprite, South Africa's largest retailer, is launching an exclusive private-label product line derived from local small, medium, and micro firms (SMMEs). According to Shoprite, the new Homemade label opens up a plethora of chances for young enterprises to prosper in retail. With access to Shoprite's 534 supermarkets throughout the country, SMMEs can get their items
The Reserve Bank is preparing for a countrywide grid meltdown
The South African Reserve Bank (SARB) is planning for a national grid failure through the Financial Sector Contingency Forum (FSCF). While the central bank highlighted that a regional or national grid breakdown is improbable, it must investigate such systemic risks as part of its responsibility to ensure financial stability in the country. Since 2015, the
Premier Panyaza Lesufi R34 billion to empower township initiatives
Gauteng Premier Panyaza Lesufi has announced plans to ensure the province is safer for the resident, saying he has allocated a budget to focus on that. In his State of the Province address, he said the provincial government has committed to using 60% of its R34 billion goods and services budget to support township initiatives.
Anglo American platinum shares predictions as it releases results for 2022
Anglo American said the supply and demand of the three platinum group metals were set to be in small deficits this year. The world’s biggest platinum producer announced the developments on Monday as it released the results for the year 2022. The Anglo American majority-owned group said in its 2022 results that platinum’s underlying surplus
Zimbabwe wants to create ‘Africa’s Dubai’ at the iconic Victoria Falls
The Zimbabwean government is planning to launch an offshore financial centre in the resort city of Victoria Falls. The Southern African government wishes to vie with the likes of Dubai and the Isle of Man to attract foreign investment into the city. Finance Minister Mthuli Ncube said in an interview, according to Fin24, that the
Eskom battles thieves, increased damages, and corrupt employees due to load shedding
Struggling power utility Eskom says it is fighting vital infrastructure damages where cables and breakers are stolen. The power generator said there has been a significant increase in damage to vital infrastructure, including breakers and cables, as a result of the frequent disruption to the grid caused by load shedding and that this has added
Ethiopian Airlines pleased to sign a services agreement with IGAD
Africa’s largest airline Ethiopian Airlines has signed an agreement with the Intergovernmental Authority on Development (IGAD) to provide a framework for the provision of the airline’s products and services to IGAD. Based in Addis Ababa, Ethiopian Airlines will also provide hospitability services to IGAD at Ethiopian Skylight Hotel and assign a dedicated team to handle
Gauteng Premier Panyaza Lesufi has promised that e-tolls to be permanently scrapped
During his state of the province address, Gauteng Premier Panyaza Lesufi has vowed that the e-tolls will be scrapped in the province. The announcement was made by him during his State of the Province address at the Johannesburg City Hall on Monday evening. The Gauteng government is to pay 30% of the South African National
Devastating Eskom load shedding hampering agricultural projects
The effects of the ravaging load shedding are still felt in the farming sector and this has delayed the implementation of agricultural programmes. According to the Agricultural Business Chamber’s CEO, Wandile Sihlobo, he said further deterioration in the electricity crisis had been a major cause of delay in the implementation of agricultural programmes intended to
How much it costs to sell your own items on Takealot – and what to look out for in hidden fees
Takealot, South Africa's largest online retailer, began as a typical retail business, offering things it sourced directly and privately to the general public. It modified its business strategy in 2015 to stay up with global online retailers, allowing third-party merchants to offer items through its marketplace solution platform. To the casual consumer, it made little
Where should you invest your funds right now
Alternatives for savers seeking better returns on their money. South Africa has gone through a lot in recent years. Along with the Covid-19 outbreak, we've had a brief recession, higher gasoline prices as a result of Russia's invasion of Ukraine, and now rising interest rates. As inflation is beginning to slow and interest rates continue
Tax red flags in South Africa: what to anticipate this week
South Africans should limit their expectations for an ideal budget delivery this week, and instead prepare for a more bleak reality, according to Professor Andre Roux, an economist at Stellenbosch Business School. Roux stated in a pre-budget study on Monday (20 February) that finance minister Enoch Godongwana would have the difficult challenge of reconciling the
Concerns over a new visa designed to attract qualified workers in South Africa
After a spate of announcements aimed at attracting talented workers to South Africa, including a remote working visa, experts have expressed doubt about their viability. President Cyril Ramaphosa emphasised the need for more qualified employees in the country during his most recent State of the Nation Address (SONA). He reaffirmed SONA 2022 pledges, saying the
Eskom intends to implement stage 8 load shedding
Eskom says it is revising its documents and timetables that govern load shedding stages in order to prepare for stage 8 if the nation reaches it. The power company stated that the review process is now continuing and that it is meeting with regulators and industry to look at possible phases of load shedding and
Finance Minister Enoch Godongwana to incorporate a credible debt-relief strategy
South African Finance Minister Enoch Godongwana is tasked with implementing a realistic debt-relief plan for the ailing state power provider into the national budget while also stabilising government finances in the face of unprecedented blackouts. According to the minister, the state would assume between one-third and two-thirds of Eskom's R400 billion obligations by October 2022.
The Rand is on edge as markets await the budget
South Africa's rand traded smoothly on Monday (20 February), but stayed lower as markets anticipate fiscal policy measures by the finance minister in his budget statement this week on Wednesday (22 February). The dollar was likewise slightly changed against a basket of world currencies, according to Reuters. The rand in South Africa has experienced its
More companies are relocating to Cape Town
Cape Town is experiencing a surge in corporate relocation as companies seek dependable service delivery. According to Brent Townes, Commercial Property Chief Operating Officer at Lew Geffen Sotheby's International Realty, semigration is driving not just the movement of families but also the relocation of companies, as Cape Town sees growing demand for company premises. Townes
South African internet connectivity is under threat, and load-shedding is to blame
Load-shedding is jeopardising Internet connection in South Africa, and users have little recourse. According to Paul Colmer, executive management committee member of the Wireless Access Providers' Association (WAPA), purchasing backup power solutions for connection is pointless unless your network provider can maintain their network operational. “It’s very easy to buy a device off the shelf
More people bought cars in December 2022 than the previous year
Motor trade sales climbed by 16.6% in December 2022 compared to the same month the previous year, according to Statistics South Africa figures released on Thursday. In November, automobile trade sales increased 14.4% year on year. New car sales saw the greatest yearly rise in December, increasing by 30.7%. According to StatsSA. This was followed