Mango Airlines has denied claims it owes millions to Airports Company South Africa (ACSA), which resulted in their flights being grounded. Analysts said the low-cost airline owes ACSA millions in airport fees. However, the airline says it has a technical problem which it’s trying to resolve and has apologised for[…]
Mumtaaz “Taz” Emeran, the Wits University medical student who received more than R471,000 in donations from South Africans to help her cover her debt, says she is honoured to be one of the medical doctors who will serve SA during the global Covid-19 pandemic. Last week, Emeran witnessed history when[…]
Credit reporting agency TransUnion has published its Consumer Credit Trends report for 2020, detailing how the country’s coronavirus lockdown has impacted the finances of the average South African citizen. With a fall in GDP and the associated rise in unemployment, consumers have had to prioritise their personal finances to cope[…]
SA has passed the R3-trillion debt mark, with national borrowing averaging about R2bn every weekday, Western Cape premier Alan Winde said on Wednesday. “We have a very difficult path ahead of us,” said Winde, a keynote speaker during a Western Cape property development webinar. The premier, who recently recovered from[…]
With the festive season behind us and common mantra of ‘the new year, new me’ in full swing, economists believe that for South Africa’s economy it won’t be that simple. With government battling to the keep economy afloat, and the World bank projecting an even lower growth than anticipated for[…]
Shocking unemployment numbers, low growth and state-owned enterprises, billions of rand in debt. Finance Minister Tito Mboweni faces the tough task of balancing government’s books when he delivers his medium-term budget policy statement. READ: Mboweni expected to do a balancing act Analysts say Mboweni can win favour from ratings agencies and investors by converting[…]
Moscow has written off more than $20 billion in debt accumulated by African countries during the Soviet era, Russian President Vladimir Putin announced on Wednesday. “It was not only an act of generosity, but also a manifestation of pragmatism, because many of the African states were not able to pay[…]
By Anees Teladia Many South Africans can relate to one common financial problem – there’s simply too much month with too little money. Students, young professionals and experienced workers all fall victim to the trap of spending too much too soon, at some point in their lives. A survey commissioned[…]
By Ebrahim Kangwa Chibwe There was a robust discussion on how to tackle South Africa’s energy crisis at Africa Utility Week 2019 held at the Cape Town International Convention Centre (CTICC). The annual event draws a range of energy and technology experts to what is dubbed as Africa’s premier energy[…]
Credit rating agency Moody’s says while SA’s credit profile is “resilient to shocks” that support its investment-grade rating, the country’s credit profile is likely to continue to erode. South Africa faces weak long-term growth despite its favourable government debt structure, it said. Moody’s is the only international credit rating agency[…]
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