Author: Staff Writer

Outgoing Absa chair Sello Moloko has dismissed suggestions that the bank’s reputation suffered from the leadership scandal surrounding former CEO Arrie Rautenbach’s abrupt departure, according to a Sunday Times report. Speaking publicly for the first time since announcing his exit, Moloko maintained that Absa’s brand remains robust, pointing to the appointment of Kenny Fihla as the new group CEO as evidence of the institution’s strength. New Leadership as Confidence Vote Fihla, currently deputy group CEO at Standard Bank, will take the helm at Absa on June 17, becoming the bank’s second black group CEO. Moloko argued that attracting an executive…

Transnet is on the brink of a devastating strike after wage negotiations between the state-owned logistics company and the United National Transport Union (Untu) reached a deadlock this week. Efforts by the Commission for Conciliation, Mediation and Arbitration (CCMA) to mediate failed, raising the specter of nationwide industrial action, reported the Sunday Times. Strike Threat Looms Untu, which represents 26,500 Transnet workers, has warned it will issue a 48-hour strike notice if no revised wage offer is presented by Monday. Untu spokesperson Atenkosi Plaatjie told the Sunday Times: “Should no revised offer be forthcoming, Untu will issue Transnet with a…

The Public Investment Corporation (PIC) is in a frantic last-minute effort to secure R500 million in funding to prevent the collapse of struggling poultry producer Daybreak Foods, reported the Sunday Times. Without the cash injection by Friday, the company faces liquidation, putting 3,400 jobs at risk. Failed Funding Plea The PIC sought emergency funding from the Unemployment Insurance Fund (UIF) and the Compensation Fund (CF) but was unsuccessful, reported the newspaper. A liquidation application, brought by creditors including Lakat Chicken, is set to be heard in the Pretoria High Court on Tuesday. In a letter seen by the Sunday Times, PIC…

President Cyril Ramaphosa is preparing for a potentially contentious meeting with US President Donald Trump, with high-stakes discussions expected on trade, race policies, and allegations of “genocide” against white Afrikaners, according to the Sunday Times. Despite the possibility of a hostile reception, Ramaphosa remains focused on protecting South Africa’s economic interests. High-Stakes Diplomatic Encounter The meeting marks one of Ramaphosa’s most critical diplomatic engagements, with the African Growth and Opportunity Act (Agoa) trade deal at risk. Agoa enables duty-free exports worth R66bn in sectors like automotive, citrus, and wine. Presidency spokesperson Vincent Magwenya said Ramaphosa was losing no sleep over…

With the 2025 Grain SA NAMPO Harvest Day in full swing, Bridgestone Southern Africa is drawing attention to a vital but often overlooked input cost in farming operations: tyres.  As farmers face mounting input costs, the company is calling for greater recognition of the role premium-quality tyres play in sustaining agricultural productivity and stability. Recent estimates indicate that farmers collectively maintain an inventory of tyres valued at over R1.2 billion* annually across their agricultural vehicles, including tractors, harvesters, bakkies, motorcycles, and other equipment. This figure reflects the tyres used across an estimated two to five vehicles per farm, underlining the significant role tyres play…

AURA, a life-saving technology platform making emergency response services more accessible and affordable, has secured €13.5 million (R273 million) in a Series B funding round co-led by the Cathay AfricInvest Innovation Fund (CAIF) and Partech. This latest investment brings AURA’s total funding to €21 million (R423 million), fueling its expansion into the United States and the development of a global emergency dispatch “clearing house”—eliminating borders in crisis response. Founded in 2017 by Warren Myers, Ryan Green, and Adam Pantanowitz in South Africa, AURA has revolutionized emergency response through its smart auto-dispatch and routing platform. The technology connects individuals in distress with the nearest vetted private security and medical responders, ensuring rapid assistance anywhere, anytime. Transforming Security Response…

Economic Freedom Fighters (EFF) MP Sihle Lonzi was forcibly removed from a parliamentary committee meeting after questioning the Director-General about the appointment of ANC Chairperson Gwede Mantashe’s son to the SETA board. The incident follows the Democratic Alliance (DA)’s revelation of a leaked list of Sector Education and Training Authority (SETA) board appointments, exposing widespread political patronage. The list includes ANC loyalists, such as Mantashe’s son and a former KZN Premier, in key positions. DA Demands Accountability Karabo Khakhau MP, DA Member of the Committee on Higher Education and Training, stated: “These appointments confirm the ANC’s blatant abuse of SETA…

President Cyril Ramaphosa and US President Donald Trump are set for a pivotal diplomatic meeting next week, with negotiations expected to unlock new trade agreements in agriculture, energy, and transport sectors., Business Day reports. A high-level ministerial team, including Trade Minister Parks Tau, International Relations Minister Ronald Lamola, and Agriculture Minister John Steenhuisen, has been tasked with crafting a trade deal to mend strained relations, according to three officials familiar with the Washington preparations. Will a Formal Deal Emerge? While it’s unclear if binding agreements will be signed, diplomatic sources suggest groundwork is being laid for either a full trade…

The Trialogue Business in Society Conference 2025 is set to be a battleground for ideas, and Telkom SA SOC Limited is bringing its A-game to tackle South Africa’s stubbornly persistent youth unemployment crisis. The numbers are brutal. With 34.2% of young South Africans (18-34 years) currently not in employment, education, or training, the need for targeted interventions is critical. And as the latest data confirms, the burden falls disproportionately on Black African youth, with an unemployment rate of 35.8%, exceeding the national average. Telkom recognises that bridging the gap between learning and career opportunities is paramount. The organisation’s multi-pronged approach involves the…

The Ford Ranger maintains the top spot, but a surge in sales for fuel-efficient hatchbacks signals a continued shift towards affordability.  Following a strong showing last month, the South African used car market remained relatively stable in April despite experiencing a minor sales decrease on a month-on-month (MoM) and year-on-year basis (YoY). Despite this, the sales figures highlight strong interest in used cars, with a mix of vehicles—from bakkies to affordable hatchbacks and luxury sedans—dominating the top 10 list.  According to the latest AutoTrader data, 28,675 used vehicles were sold in April 2025, representing YoY and MoM decreases of -0.2% and -4.1%,…