The Dawn of Contactless Toll Payments South Africa is taking a significant step forward in its journey towards digital transformation with First National Bank (FNB) pioneering Africa’s first contactless toll payment system. This initiative, launched in collaboration with Visa and the N3 Toll Concession (N3TC), aims to streamline toll payments by introducing tap-to-pay functionality at […]
This past weekend, Bitcoin enthusiasts and investors were treated to a significant milestone as the cryptocurrency reached a new all-time high of $107,000. This surge in Bitcoin’s value not only marks a notable point in the digital asset’s history but also coincides with a notable increase in interest surrounding BlackRock’s iShares Bitcoin Trust (IBIT) options. […]
As we approach 2025, the South African government’s ambition to establish the National Health Insurance (NHI) Board has sparked a whirlwind of debate, legal challenges, and public skepticism. The NHI is envisioned as a comprehensive healthcare reform aimed at ensuring universal health coverage for all South Africans. However, the path to its implementation is fraught […]
The retail landscape is ever-evolving, and Spar, known for its ubiquitous presence in grocery retail, is taking a bold step into the high-end market. Recently, Spar announced plans to introduce a premium format store aimed at wealthier consumers. This move is particularly intriguing, given Spar’s existing reputation for slightly higher prices compared to some competitors. […]
In a recent social media thread by Daily Investor, a significant statistic was highlighted regarding South Africa’s tax landscape: only 1,660,182 people contribute to 76.2% of all personal income tax. This figure, sourced from South Africa’s latest Tax Statistics report, paints a stark picture of the income distribution within the country. The Tax Base The […]
South Africa’s economic challenges have claimed yet another casualty as Famous Brands, the parent company behind beloved fast-food outlets such as Steers, Debonairs Pizza, and Fishaways, announced the closure of 47 restaurants in the past financial year. The closures, which also affected brands like Wimpy, Mugg & Bean, and Milky Lane, highlight the pressures faced […]
The South African Reserve Bank (SARB) is preparing for further interest rate cuts in 2024, driven by subdued inflationary pressures. With consumer inflation well below the 3-6% target range, SARB has already slashed the repo rate to 7.75%, providing some relief to borrowers. However, the bigger picture raises concerns about the long-term economic outlook. Inflation […]
Johannesburg—City Power has raised serious objections to Eskom’s proposed tariff hikes over the next three years, calling the increases unaffordable and unsustainable for municipalities and customers alike. In a formal submission to the National Energy Regulator of South Africa (NERSA), City Power has suggested that any increase should not exceed 11% per year. However, even […]
Over the past few years, South Africa has found itself ensnared in a repetitive cycle of political turmoil, corruption scandals, and endless court battles. These daily updates, often revolving around familiar narratives of political infighting, accusations, and financial mismanagement, have shaped the public discourse. For many, this creates the impression that not much progress is […]
Over the past two years, Tshwane’s municipal workers, under the banner of the South African Municipal Workers’ Union (Samwu), have been locked in a bitter struggle with the City of Tshwane. At the heart of this conflict are longstanding wage disputes, including demands for historical salary increases of 3.5% and 5.4% from 2021 and 2023. […]
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