Kaya Biz

Consol buyer bets big on South Africa with R1.5 billion facility expansion.

Ardagh Glass Packaging (AGP) Africa – formerly Consol Glass – has announced a R1.5 billion expansion of its Nigel production facility in the south-east of Johannesburg. The investment more than doubles the facility’s capacity to provide sustainable glass packaging and meet projected demand growth and incorporates a new furnace and…

7 Jul 2022 1AM 9 min

S.African rand hits new 20-month low as investors embrace dollar.

With South Africans learning to live with the current cycle of stage 6 load shedding, many believe the ongoing power cuts to be the antagonist behind the weak rand. However, treasury experts say the power outages are only a small contributor to a far greater picture. Reuters reported that the…

7 Jul 2022 1AM 9 min

Farmers, consumers buckling under load-shedding-induced costs.

Industry body Agri SA has warned of the impact of ongoing power outages on the agricultural sector, with rising risks of food insecurity and social instability. Agri SA’s remarks come in the wake of South Africa experiencing Stage 6 rolling blackouts, which involve longer and more frequent episodes of load-shedding.

6 Jul 2022 1AM 11 min

INSIDE YOUR BUSINESS: Salary negotiations - Win-win solutions for start-ups, Teams.

Like their global counterparts, South African companies and workers are grappling with a worsening economic outlook as we move into the second half of 2022. And as the season for salary and incentive negotiations near, both parties have to grapple with the question of what constitutes fair compensation in light…

6 Jul 2022 1AM 20 min

LEGALLY SPEAKING: Sangomas battle for Labour Law recognition 14 years after Act passed.

Traditional health practitioners, or sangomas as they're more commonly known, have decried their lack of representation in the country’s labour laws 14 years after the Traditional Healers Practitioners’ Act was signed into law. Traditional healers rely on indigenous knowledge and practices to diagnose, prevent and treat physical, spiritual, and mental…

6 Jul 2022 1AM 21 min

EKASINOMICS: Meet Spelo Jalivane, founder of Khayelitsha's newly reopened hotspot 'The Milk.'

The Milk Restaurant & Bar which launched in 2018 as a premium lifestyle entertainment boutique, and the first three-story upmarket restaurant in a township, is now relaunching to The Milk Restaurant & Champagne Bar after taking a hiatus in 2020 due to the COVID-19 global pandemic.

6 Jul 2022 1AM 20 min

Treasury caps pension fund infrastructure investment at 45% and maintains crypto ban.

The National Treasury has published final amendments to regulation 28 of the Pension Funds Act, laying out the new limits and conditions for pension funds to invest certain assets. Regulation 28 protects retirement fund member savings by limiting the extent to which funds can invest in a particular asset or…

5 Jul 2022 1AM 7 min

Rocketing fuel prices set to drive SA interest rates sharply higher.

South Africa’s rocketing fuel prices are set to result in interest rate hikes rising for the rest of this year, further hurting the disposable income of consumers and the country’s teetering economic growth. This warning came from economists on Monday, following news of the latest fuel price hike for July,…

5 Jul 2022 1AM 10 min

Firm says at least 32 companies likely to delist from South Africa’s exchanges this year.

South Africa’s stock exchanges are set to experience a few delistings in the remainder of the year, which is likely to take the full-year total to at least 32. Consultancy AmaranthCX reports that South Africa had 332 listed companies at the start of the year, across the JSE and three…

5 Jul 2022 1AM 12 min

IT'S MY HOUSE: What to do if you bought a house with latent defects and voetstoots.

The excitement of finding your dream house can easily distract you from the nitty gritty of preparing to make such a big investment. The best advice is to temper that with a practical approach.

5 Jul 2022 12AM 19 min

South Africa needs to kick-start electric vehicle production – or risk losing billions in exports.

South Africa’s manufacturing sector needs to start producing and selling more electric vehicles (EVs), or risk losing out on billions of rands in exports, says the National Association of Automobile Manufacturers of South Africa (Naamsa). Mike Mabasa, the chief executive officer of Naamsa, said that the push toward manufacturing electric…

5 Jul 2022 12AM 14 min

TECH & INNOVATION: Airbuy allows cash-only customers to make online payments.

Local fintech start-up Airbuy has signed a partnership deal with 1Voucher, a subsidiaryof voucher distribution firm Flash Group, to enable online payments for shoppers, using a voucher instead of a bank card. Airbuy is an online payment gateway launched in 2017 by South African tech-entrepreneurs Tshepang Kobo and Njabulo Makhathini.

5 Jul 2022 12AM 9 min

Good news for second-hand car buyers in South Africa.

The Automobile Association (AA) has launched a service to give South Africans credible information on pre-owned vehicles before purchase. This will be done through independent vehicle dealerships and AA Approved workshops across the country, the association said. Through the service, the AA said that dealerships can offer an AA 125-point…

4 Jul 2022 1AM 9 min

PRESENTEEISM COSTS 4.2% of GDP.

Presenteeism, being physically present at work but mentally absent and unproductive due to illness, injury, stress or burnout, comes at a greater economic cost than absenteeism, and during the Covid-19 pandemic, it has not only increased but gone digital and virtual. Employees who show up and attempt to work despite…

4 Jul 2022 1AM 15 min

CAREERS CORNER - Workplace Party Etiquette - And why it is important to still behave professionally.

Attending an office party or another work-related social event can be tricky. You want to have fun with your coworkers, but you should never forget that it's a workplace event. These tips will help you have a good time without checking your professional reputation at the door.

4 Jul 2022 1AM 16 min

WEALTH CREATION - South Africans have yet to claim R33.5 billion in unpaid life policy and investment proceeds.

Life insurers and unit trust companies are holding some R33.5 billion for policyholders, investors and their beneficiaries who have failed to claim their benefits. This is in addition to R47.3 billion held in retirement funds for members and their beneficiaries, according to statistics released by the Financial Sector Conduct Authority…

4 Jul 2022 1AM 14 min

Post BRICS summit analysis.

One of the world’s worst inflation crises closed in further on another grim milestone in Turkey, and government efforts to help the population cope with the fallout only threaten to make it worse. Price growth has been in the double digits almost without interruption since the start of 2017, but…

4 Jul 2022 1AM 10 min

South Africa facing recession and downgrades if load shedding continues: Investec.

South Africa’s economic growth faces increased risk in the coming months as prolonged load shedding is set to continue, says Investec chief economist Annabel Bishop. The outcome for GDP in 2022 will now depend on how long the country experiences severe outages, she said in a research note on Friday…

4 Jul 2022 1AM 9 min

R3.4bn in UIF TERS monies returned, Phase 2 of Follow the Money project to start in July.

Unemployment Insurance Fund (UIF) commissioner Teboho Maruping says R3.4-billion has been voluntarily returned to it by employers that irregularly benefitted from the Covid-19 Temporary Employer-Employee Relief Scheme (TERS). The first phase of the UIF's Follow the Money project determined that R14.1-billion was disbursed through Covid-19 TERS, of which R12.8-billion was…

30 Jun 2022 1AM 14 min

INSIDE YOUR POCKET: South African salaries are falling dramatically and inflation is not helping – new data shows.

South Africa's average salary posted a dramatic fall in May, at a time when consumers are battling skyrocketing prices of food and fuel, the latest data from payments clearing house, BankServAfrica shows. The country's average take-home pay in May plunged 6.7% to R14,696 when compared to the same period during…

30 Jun 2022 1AM 12 min