Tag: May 2023
SAPO has been placed under provisional liquidation
The South African Post Office (SAPO) has been placed under provisional liquidation due to its dire financial situation. The Minister of Communications and Digital...
PIC seeks to buy a larger stake of Telkom or its...
The Public Investment Corporation (PIC) is supporting former CEO Sipho Maseko's investment vehicle in a potential bid for a large stake in Telkom or...
Competition Commission approves Takatso takeover of SAA
The Competition Commission has approved the merger of Takatso Aviation and South African Airways (SAA) with certain conditions. Takatso will acquire a 51% stake...
New mining activity in KZN halted by the MCEJO
The Pietermaritzburg High Court has granted an interim interdict to halt new mining activity as part of the controversial expansion of the Somkhele coal...
Capitec tightens lending criteria as impairment charges increase
The bank has tightened its lending criteria, which are now three times stricter than regulatory guidelines because of an 80% increase in impairments. Despite...
FNB set to launch a new solopreneurs’ bundle account
FNB is introducing a new Solopreneurs' bundle account to cater to the growing trend of side hustles among South Africans. The account is designed...
The NCR reports that credit extensions are drying up in SA
According to the National Credit Regulator (NCR), credit extension in South Africa has declined. The value of new credit granted decreased by 2.67% quarter-on-quarter,...
Discovery partners to launch new solar finance product
Discovery Bank has partnered with energy provider Rubicon to launch a new finance product for solar and backup power services for homes. The partnership...
Santam launches insurance product for micro township businesses
Santam has launched a digital insurance product for micro township enterprises, offering three cover options at monthly premiums of R75 to R195. The product...
1life launches 1Life Wills and Estate Plan to promote wealth growth
1Life Insurance has introduced a new life insurance product called 1Life Wills and Estate Plan, which aims to address estate planning challenges and preserve...