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S.A’s CoM welcomes ConCourt ruling on gold producers

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The Chamber of Mines, acting on behalf of gold producers AngloGold Ashanti, Harmony and Sibanye, welcomes the ruling by the Constitutional Court in favour of the gold producers. The ruling relates to the decision by the Labour Court on 23 June 2014 to uphold the interim order issued on an urgent basis by the Labour Court in January 2014, preventing ...

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S.A:OUTA files complaint against Eskom with Competition Commission

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On 17 February 2016, the Organisation Undoing Tax Abuse (OUTA) lodged a formal complaint, evidence and detailed submission to the Competition Commission, alleging anti-competitive behaviour and abuse of dominant market position by Eskom, the national electricity utility of South Africa. OUTA is a civil action organisation in South Africa that investigates, exposes, litigates and mobilises public opposition against what it sees ...

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South Africa’s Group Five CEO resigns

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South African construction firm Group Five said on Wednesday its group chief executive Eric Vemer will be resigning in the next few weeks. “Eric and the board will be working towards transitional arrangements which will result in the identification of a suitable replacement candidate,” Group Five said in a statement. – Credit: CNBC Africa

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South African private equity firm acquires Kenyan unit of Aon

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A South African private equity firm has acquired the Kenyan unit of global insurance broker Aon for an undisclosed amount. Johannesburg-based Capital works have bought out Aon interests in Aon Kenya, a firm which offers insurance brokerage services as well as human resource consulting. The buyout was part of an acquisition spanning 10 Aon units in Africa including Uganda, Tanzania, ...

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S.A:Tax predictions for Budget 2017

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Since 2009, National Treasury has embarked on fiscal expansion to enhance the public sector’s infrastructure programme and support future economic capacity in South Africa. However, anaemic global economic growth over the last nine years has left the Treasury’s countercyclical expenditure programme unable to lift the GDP growth above 2% per annum. Consequently, a combination of slow growth and lower tax ...

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S.A.: Budget must go bigger on tax & spending cuts

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The upcoming Budget will be a critical one given there is no more room for the upward revision of deficit targets as seen over the last few years. As a result of the current slow growth environment, the tax increases and expenditure cuts set in October’s Medium-term Budget have to be adhered to if Treasury is to deliver a positive ...

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S.A:Protect yourself from ATM fraud

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Due to the high incidence of ATM Card Fraud, the South African Banking Risk Information Centre (SABRIC) would like to alert bank customers to an existing modus operandi, which has become prevalent again, to ensure that they are empowered to protect themselves and to prevent them from falling victim to criminals. SABRIC CEO, Kalyani Pillay has emphasised the importance of ...

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Business leaders call for inter-trade policies across Africa

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In a bid to enhance and increase Ghana’s trade partners and extend the country’s export market, key players in international trading have called for policies that would enhance trading activities in Africa. The call was made at the launch of the Enterprise Africa Summit. Head of Business Development and Partnerships for British Council Ghana, Sydney Hushie who spoke to Citi ...

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S.A:Is a 2% VAT increase necessary in South Africa?

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While higher taxes on corporates and the super-rich may be popular ideas, they could in fact be detrimental to the economy. Consumers may still be treasury’s best hope. It is no secret that Treasury is under substantial pressure to find a way of bringing in the necessary funds. Tax Consultant for Mazars, Tertius Troost says that with Treasury’s stated goal ...

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Ethiopian is 11th best airline in the world that keeps to time

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Africa’s largest airline group, Ethiopian Airlines, has been ranked  the 11th airline company in the world to have been on time for its flights in the month of January 2017. This is according to FlightStats, the leading provider of real-time global flight data to companies and individuals across the travel ecosystem. Of the almost 8,000 flights operated by the airline ...

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Ghana Business News