Author: The Bulrushes
Many people have made New Year’s resolutions – to lose weight, to be healthier, to spend more time with friends and family. But how many South Africans have set goals for themselves to let 2022 be the year that marks the start of their journey towards financial independence? Perhaps this seems like an unrealistic goal for many in an economy that has been battered by Covid-19. Unemployment figures paint a grim picture. Statistics South Africa states that the country’s official unemployment rate was 34,9% in the third quarter of 2021, with the number of employed persons decreasing by 660 000…
Job creation needs both a developmental state and a vibrant private sector, writes President Cyril Ramaphosa in his weekly “From The Desk of The President” newsletter. Dear Fellow South African, As we work to grow our economy and create employment, there is much debate about the relative roles of the state and business in pursuing these goals. Some people have suggested that we must make a choice between, on the one hand, a developmental state that plays a vital role in economic and social transformation, and, on the other, a vibrant, expanding private sector that drives growth and employment. The reality is…
Investigators are satisfied that all the suspects in the R130 million fraud at Cell C have been rounded up after two more suspects appeared in the Palm Ridge Specialised Commercial Crimes Court. Iceberg Technology Solution (PTY) Ltd’s Director 70-year-old Robert Stephen Holloway and MTN IT Security Manager 43-year-old Christopher Marrian were charged for their role in the massive fraud, which involved inflating costs on invoices when billing Cell C. Iceberg Technology Solution (PTY) Ltd rendered IT and network services for Cell C between 2010 and 2017 during which the company allegedly colluded to inflate prices. Allegations are that Holloway’s company…
The Chinese embassy in South Africa on Wednesday said it welcomes the registration of the Sinopharm Covid-19 vaccine for use in adults within South Africa. The South African Health Products Regulatory Authority (SAHPRA) on Monday announced the registration, with conditions, of the Sinopharm Covid-19 vaccine for use in adults within South Africa. The vaccine is manufactured by the Beijing Institute of Biological Products Co. Ltd, which is also referred to as the Sinopharm Vaccine of China. SAHPRA also registered the COMIRNATY vaccine by Pfizer Laboratories (Pty) Ltd. Commenting on the Sinopharm jab, the Chinese embassy in South Africa said: “This latest,…
The Johannesburg Stock Exchange is excited to announce that registrations are open for this year’s JSE Investment Challenge and all high schools and tertiary institutions are encouraged to participate in the competition. The JSE Investment Challenge is the exchange’s educational programme designed to introduce learners and students to the fundamentals of investing on the JSE. Teams that participate in the competition are given R1 million in virtual funds to invest in various portfolios, with the aim of outperforming the portfolios of other participating teams. “Since the R1 million is virtual, participants have nothing to lose and everything to gain,” says JSE…
Arsonists set alight a coach on the Blue Train early Tuesday morning and one of the three suspects seen fleeing from the scene has been arrested. “Transnet SOC Ltd (Transnet) is investigating the cause of a fire which broke out in a coach of the Blue Train early this morning, while the train was in for repairs at the company’s Engineering facility in Koedoespoort,” said Transnet SOC Ltd in a statement issued by Spokesperson Ayanda Shezi. “Three people were seen fleeing the scene. One person was apprehended by Transnet security personnel and handed over to the police. “Two other people…
Another accused in the Cell C R130 million fraud matter 45-year-old Hilel January appeared in the Palm Ridge Specialised Commercial Crimes Court Monday on charges of fraud and money laundering. Last week 37-year-old Michelle Pillay and 42-year-old Khatiya Patel appeared in the same court in connection with the Cell C fraud matter. Khatiya Patel allegedly colluded and inflated rates for the IT and network services rendered to Cell C while working as an Administrator at Techno Genius during the same period. Fraud accused Michelle Pillay is said to have received about R3 million from the proceeds of the crime. The…
Discovery Bank has launched its comprehensive, real-time forex capability on the Discovery Bank app that gives access to immediate foreign currency transactions. CEO of Discovery Bank Hylton Kallner on Monday said: “Our full forex capability is a key requirement in an increasingly global environment. “We have placed a great focus on ensuring that we remove the challenges of transacting in foreign currencies, which historically included delays in settlements, cumbersome forms and transaction costs that were not always clear.” Kallner added: “Using our fully digital banking platform, it will take clients under a minute to seamlessly add a Dollar, Pound, or…
Siemens SA and Aspen have joined forces to form a strategic partnership that will enable Aspen Pharmacare to increase production capacity to meet the rising demands for Covid-19 vaccines in Africa. Co-financed by funds from the develoPPP programme of the German government, digital technologies will enable faster and more efficient production while ensuring consistent product quality. In a joint project, Siemens South Africa, Aspen SA Operations (Pty) Limited, a wholly-owned subsidiary of Aspen Pharmacare Holdings Limited (collectively “Aspen”), and Deutsche Investitions- und Entwicklungsgesellschaft (DEG) have entered into an agreement. The agreement will enable the use of digital technologies to enhance the efficiency of Covid vaccine…
A female cat burglar was caught red-handed in the early hours of Monday with stolen computer hard drives after a break-in at the Metro Centre, headquarters of the City of Johannesburg. The woman was also found with tools used to disassemble computer hardware. “In the early hours of Monday (7 February 2022) morning, I was alerted to yet another break-in at the Metro Centre, where the suspect was found hiding under a table on the second floor, which houses offices of the Electoral Commission (IEC),” said Johannesburg Mayor Dr. Mpho Phalatse. “What is most distressing about this break-in is that…