Business services industry key to job creation
The Business Process Services (BPS) industry offers South Africa the largest job creation potential across all service sectors, says Trade and Industry Minister Rob Davies. Launching the revised Global Business Services (GBS) Incentive in London, United Kingdom recently, Davies said the industry has been stimulating economic growth and it... Read more
Dti welcomes judgment on interest rate regulations
Trade and Industry Minister Rob Davies has welcomed the Supreme Court of Appeal’s decision to dismiss the application of Micro Finance South Africa (MFSA) challenging the regulations reducing the interest rate on short-term loans. In 2016, MFSA challenged the regulations in the High Court, which were introduced by the... Read more
McKinsey shows Africa is the world’s next big growth market
A new book by McKinsey confirms that Africa is poised for economic acceleration, akin to the Asian boom. While other geographies are seeing incremental growth, global companies that get in early and join the African champions shaping the right strategies, can sustain double-digit profit growth over the next few decades.... Read more
Noupoort Wind Farm builds a creche for Eurekaville and supports local enterprises
Councillor Sestile, of the Umsobomvu Municipality, cut the ribbon to commemorate the official launch of the newly built Eurekaville Crèche, funded by Noupoort Wind Farm. Other guests included official representatives from the Department of Social Development and Department of Education, as well as shareholders of Noupoort Wind Farm. “This... Read more
Creating an enabling environment for SMMEs, entrepreneurs
Trade and Industry Deputy Minister Bulelani Magwanishe says government is on hand to create an enabling environment for entrepreneurs and Small, Medium Micro Enterprises (SMMEs) to thrive. Speaking at the two-day Vhembe SMME Summit in Thohoyandou, Limpopo, Magwanishe said small businesses were a priority as they generate jobs. “The... Read more
Plan to address Eskom challenges afoot
A Nine Point Plan is set to go a long way in turning the fortunes of Eskom around at a time when the utility is facing major challenges, its Group Chief Executive Officer Phakamani Hadebe said on Friday. “Eskom has undergone trying times, during the past couple of years... Read more
Parliament approves Division of Revenue Amendment Bill
The National Assembly on Tuesday approved the Division of Revenue Amendment Bill, which will adjust the equitable share among the three spheres of government. The bill, which Finance Minister Tito Mboweni tabled when he presented his maiden Medium Term Budget Policy Statement (MTBPS) last month, also changes the specific... Read more
Telkom sees increase in subscribers
Telecommunications and Postal Services Minister Dr Siyabonga Cwele has welcomed half-year financial results from Telkom, which reflect an increase in revenue and mobile user numbers. Telkom’s interim financial results are for the six-month period, which ended on 30 September 2018. Telkom’s mobile broadband subscribers were up 66.8% to 4 751 688.... Read more
SA investment climate is improving
Foreign investment, if targeted and nurtured, can drive economic growth and in turn contribute to much-needed job creation and economic inclusion for all, says Trade and Industry Minister Rob Davies. The Minister was addressing the South African Investment Seminar on the margins of the first China International Import Expo... Read more
New Algoa FM building a boost for PE’s Baakens Valley
Algoa FM has started on a 15-month property development in the Baakens Valley of Nelson Mandela Bay as the new home of the Eastern Cape media company’s business. On completion, Algoa FM’s new home will be worth close to R60 million. Algoa FM’s holding company, African Media Entertainment, is... Read more