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R900 Million Loan To Zimbabwe Met With Unease

Pretoria – An announcement by Zimbabwe’s finance minister Tendai Biti yesterday that South Africa had approved a $100 million or around R900 million loan to Zimbabwe to help it prepare for upcoming elections has raised a number of questions among opposition party leaders. The Reserve Bank is expected today to appear in front of the

Petrol Price Expected To Drop In May

Johannesburg – South African motorists could finally have some good news as the Department of Minerals and Energy could implement a retail petrol price cut of about 71c/l in May. The wholesale diesel (0.05% Sulphur) price could also fall by 49c/l. The price-drop would take place provided the daily over-recovery remains near the April 12

Facebook Advertising Continues To Grow

San Francisco – Facebook was slow to start when it came to earning revenue off mobile advertising. Facebook CEO, Mark Zuckerberg acknowledged in September last year that they experienced a few missteps in mobile. There has been a remarkable turnaround though, and research firm, Emarketer, says it expects Facebook’s revenue from mobile advertising to hit

Klerksdorp Faces ESKOM Power Cut, Overdue R1.3bn

Mahikeng – Eskom is threating to cut all power to the North West municipality of Matlosana (Klerksdorp) unless an overdue payment of R91 million is made, reports indicated on Wednesday. According to Eskom spokeswoman Hilary Joffe, cutting off the power tomorrow would be a last resort. Joffe said that the municipality’s payment of R91m had

SA Needs A Bit More In Reserve – Reserve Bank

Pretoria – The Reserve Bank will continue to build South Africa’s level of reserves as market conditions allow for it, said the Bank’s deputy governor, Daniel Mmminele. “A higher reserves cushion will not only make South Africa more resilient in crisis situations and in the wake of volatile capital flows, but should also help increase

Premier Must Answer For Credit Card Abuse – DA

Johannesburg – The Democratic Alliance stated on Tuesday that Gauteng Premier, Nomvula Mokonyane, must account for her alleged abuse of State credit cards DA leader Jack Bloom said that Mokonyane should address the public as to why she used her official credit card to dine at lavish restaurants at taxpayers’ expense. The episode comes after

Johannesburg Metro Overcharges Residents, Fails in Service Deliver

Johannesburg – The Auditor General’s (AG) report on the Johannesburg Metro presented this week paints a grim picture of a city unable to manage its finances or provide its citizens with the services for which they pay. Auditor General Terence Nombembe has slated the Johannesburg Metro for overcharging certain residents for services, while not providing

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