Newsroom

Repairing the fractured relationship between South Africa and the US hinges on balanced trade, according to business and labour leaders who met with American politicians in Washington.That would mean narrowing South Africa’s trade surplus with the US of more than $4 billion (R72bn), mainly from its exports of cars and…

The World Health Organisation is facing a gaping deficit this year and through 2027 following the US decision to withdraw, even after dramatically slashing its budget, a media report indicated on Wednesday.As the United Nations health agency has been bracing for the planned full US withdrawal next January, it has…

SiyaQhubeka Forests (SQF), a leading forestry company, has increased the equity stake of its community partner, SiyaQhubeka Community Trust (SQT) based in KwaZulu-Natal, from 5.4% to 15.4%, marking a significant step towards inclusive growth in South Africa’s forestry sector.The transfer, announced on Tuesday, is part of a partnership with Mondi…

The rand depreciated further by more than 1.6% to R18.78 to the US dollar by 7pm on Wednesday night, a fresh low since February 28, as investors reacted to rising political uncertainty amid budget turmoil. Members of Parliament (MPs) voted in favour of passing the National Budget with a slight margin…

Tawanda KaromboZimbabwe’s largest but struggling retail operator, OK Zimbabwe, is seeking to raise $30 million (around R560m) in capital to strengthen its balance sheet, enhance working capital and to support its turnaround after profitability tanked amid a worsening economic environment.OK Zimbabwe also runs Born Marche and some Food Lovers' outlets…

MTN is more widely known for the communication, education, and financial benefits its mobile and internet services bring to 19 African markets, but allegations of human rights violations due to internet shutdowns ordered by governments in conflict continue to surface, raising an ethical dilemma for the group.Business Report was shocked…

Banele GinidzaThe Public Investment Corporation's (PIC) unlisted portfolio came up for scrutiny without wholly satisfying the Standing Committee on Public Accounts (Scopa), which has scheduled another date for a full report on entities that had raised red flags with the Auditor General (AG).This is as the PIC appeared before Scopa…

The National African Federated Chamber of Commerce and Industry (Nafcoc) commenced its 60th anniversary celebrations in Durban on Wednesday with a resounding call for economic transformation aimed at uplifting black-owned businesses in South Africa. Nafcoc President Gilbert Mosena emphasised the staggering unemployment rate among youth aged 15-24, which currently stands…

A Cameroon appeals court has ordered the release of South African mobile operator MTN's bank accounts in the country, which were seized in 2022 over a loan dispute with a Cameroonian businessman, MTN said.A court order froze MTN Group's Cameroon accounts containing 14 billion CFA francs ($23.20 million) in September…

Tongaat Hulett’s (THL) business rescue has reached a pivotal point after the sugar and property group’s new investors, The Vision Parties headed by businessman Robert Gumede, confirmed to the Business Rescue Practitioners (BRPs) that they have secured credit approval to meet the balance of their payment obligations owed to lenders.This…