President Jacob Zuma is expected to launch the First Automotive Works (FAW) South Africa assembly plant in the Eastern Cape on Thursday. Industrial Development Zone The R600-million truck assembly plant is based in the Coega Industrial Development Zone at the Nelson...
The South African Reserve Bank (SARB) has fined the country’s big four banks R125 million collectively, it said on Wednesday. “In terms of the Financial Intelligence Centre Act (FICA), the SARB is mandated to supervise and enforce banks’ compliance with FICA to ensure...
South Africa’s Reserve Bank is set to invest in currencies such as the Korean Won, Australian Dollar and the New Zealand Dollar. “The bank has also taken steps to invest in new currencies. [It] will be diversifying into currencies such as the Korean Won, Australian...
Transnet’s credit rating has been upgraded to ‘BBB’, with the upgrade affirming the state utility’s ability to raise funds without a government guarantee. The state owned ports and rail operator’s credit rating was upgraded by two notches from a previous...
Economic Development Minister Ebrahim Patel has welcomed the judgement of the North Gauteng High Court to dismiss an application to interdict the implementation of government’s new scrap metal export regulations. The new regulations came into effect on 16 September....
