Fin24 News

04/19/2018 04:41 AM | Pita's resignation 'does not absolve him' says Dept of Public Enterprises
The Department of Public Enterprises reacted to the resignation of Transnet's chief financial officer Garry Pita by saying stepping down does not absolve him of accountability for possible wrongdoing.

04/19/2018 04:05 AM | Top 5 on Fin24: BLSA backs Ramaphosa's R1.2trn investment drive, ABSA distances itself from Steinhoff fiasco
A roundup of Thursday's top economic and finance reads on Fin24.

04/19/2018 03:36 AM | Transnet CFO Garry Pita resigns
Transnet chief financial officer Garry Pita, who signed off on invoices authorising the state-owned firm to pay R74m to Gupta-linked Trillian Capital Partners, has resigned.

04/19/2018 03:10 AM | JSE volatile as geopolitics, economic data swing pendulum
The JSE has experienced another topsy-turvy day as the market opened firmer on the back of stronger earnings numbers, only to wither away in the latter half of the trading session.

04/19/2018 02:39 AM | Union to demand that Steinhoff appoint new board at AGM
Trade union federation Fedusa says it will demand that Steinhoff appoint a new board in light of the retailer's massive share price plunge.

04/19/2018 02:12 AM | Govt holds meat firms responsible for listeriosis outbreak - Motsoaledi
Health Minister Aaron Motsoaledi says the companies which produce processed meat have the resourced labs to test products, and should be held responsible for the listeriosis outbreak.

04/19/2018 01:49 AM | FNB launches mobile bank account
FNB launches a mobile bank account called eWallet eXtra.

04/19/2018 01:26 AM | Twitter’s bet on video streaming is starting to pay off
Despite sceptics who said Twitter couldn’t possibly compete with rivals like Facebook, it has carved out a niche in the world of video content and now streams a range of programming.

04/19/2018 01:12 AM | Fiscal commission working to maintain finances despite resource limits
The Financial and Fiscal Commission is by no means the worst transgressor of all government entities when it comes to financial management and plays an important role in advising Parliament.

04/19/2018 01:11 AM | RAF financial and administrative hurdles laid bare
A meeting of the Road Accident Fund with Parliament comes amid accusations that CEO Lindelwa Jabavu’s qualifications are false.

04/19/2018 01:10 AM | SARB: Banks are free to choose their own auditors
The South African Reserve Bank says it does not interfere with the appointment of auditors by banks, as this responsibility rests with the banks.

04/18/2018 11:47 PM | BLSA throws weight behind Ramaphosa's R1.2trn investment drive
Business Leadership South Africa believes President Cyril Ramaphosa’s initiative to raise R1trn in new investments over five years could add 4 percentage point to the country’s foreign direct investment.

04/18/2018 10:31 PM | Cape Town events bring R3bn for local economy over 8 months
Over the past eight months events tourism in Cape Town has contributed an estimated R3bn to the local economy and created more than 20 000 temporary jobs.

04/18/2018 10:27 PM | ABSA distances itself from Steinhoff's accounting fiasco
ABSA bank says its role as Steinhoff’s JSE sponsor was strictly to ensure the retail group met the requirements of the JSE and had no role in scrutinising Steinhoff’s financial statements.

04/18/2018 09:57 PM | Facebook says more South Africans affected by data leak
The social media giant has upped the numbers of South African possibly affected by a data leak from 59 777 to 96 134, as it faces worldwide scrutiny over how it deals with privacy and security.

04/18/2018 08:43 PM | Ramaphosa says he'll use his private sector experience to grow SA economy
Speaking to the UK media, the president reasons that SA can boost its growth rate to more than double the 2017 level if the country attracts enough investment and institutes reforms.

04/18/2018 08:19 PM | Zimbabwe elections critical for economic growth, says Biti
Zimbabwe’s elections scheduled to take place this year will be the most important in a generation and critical to restoring democracy and economic growth, says opposition politician Tendai Biti.

04/18/2018 07:42 PM | Pick n Pay shows profit growth, despite R250m severance packages payout
Pick n Pay has posted a R15.3bn gross profit increase for the year ended in February 2018, up from R14.5bn in 2017, the group has said.

04/18/2018 07:24 PM | Resilient rand trades firmly under R12/$ on upbeat local data
The rand continued to trade under the R12/$ level, in the wake of healthy local retail sales data, better than expected local inflation data and broad emerging market strength.

04/18/2018 06:53 PM | Kganyago: We'll only act if we think rand slides impact inflation
Policy makers will only respond to changes in the exchange rate if they could cause inflation to rise, says SARB governor Lesetja Kganyago.