sabcnews.com business news headlines

Cosatu calls for good faith negotiations in public sector

The Congress of South African Trade Unions (Cosatu) has called for good faith negotiations in the public sector as unions table a 12% wage increase demand for workers for the 2025 financial year. Cosatu, Federation of Unions of South Africa (Fedusa), the South African Federation of Trad
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12 Sep 2024

Eskom attaches bank accounts of Emfuleni Municipality

Eskom has announced that it has attached the bank accounts of Emfuleni Municipality after it failed to comply with the debt relief programme. The power utility says this is to help it recover R8 billion owed to it by the municipality. Eskom says the municipality is no longer a
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12 Sep 2024

EFF speaks out on employers defaulting on pension payments

EFF Member of Parliament Sinawo Thambo says it is distressing that it took the introduction of the two-pot system for the Pension Fund Adjudicator to raise the alarm about the pension funds of workers. Muvhango Lukhaimane indicated that the introduction of the retirement system will exp
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12 Sep 2024

Cape Town Tourism expects record levels this coming holiday season

Cape Town Tourism figures are expected to increase beyond previous record levels this coming tourist season. The increase in visitor numbers will help grow the local economy and boost job creation. Cape Towns Mayoral Committee Member, James Vos says, We want to attract more peo
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12 Sep 2024

Pension Fund Adjudicator flags employers defaulting on payments

The Pension Fund Adjudicator and the Financial Sector Conduct Authority are concerned by the failure of some companies to contribute towards pension funds. Thats as eligible South Africans continue to access a portion of their pension funds since the inception of the Two-Pot Retirement
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11 Sep 2024

High number of employed foreigners shows SAs skills shortage

The Acting Deputy General Manager of the Public Servants Association (PSA), Claude Naiker says although the enactment of the Employment Services Amendment Bill seems like a possible solution to address the number of foreign nationals employed in South Africa, it does not address the issue of lac
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11 Sep 2024

Trump Media slumps as Harris victory odds rise after debate

Shares of Trump Media Technology Group fell 17% in premarket trading on Wednesday after Democratic candidate Kamala Harris extended her lead over Republican rival Donald Trump in betting odds following a combative presidential debate . Harris put Trump on the defensive with a stream of
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11 Sep 2024

Rail infrastructure vandalism costs the country R5-bln yearly: Creecy

Vandalism to rail infrastructure costs the country close to R5-billion a year. Transport Minister Barbara Creecy says this has a direct impact on the amount of freight transported via the railway system annually. Creecy was part of a ministerial team who briefed the National Co
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10 Sep 2024

SABC funding a burning issue that could lead to crisis, warns Diko

Portfolio Committee on Communications and Digital Technologies chairperson Khusela Sangoni Diko says that the South African Broadcasting Corporations (SABC) funding issue is a burning platform that if left unresolved, could be an urgent existential crisis to the public broadcaster. The
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10 Sep 2024