Kaya Biz

The International Monetary Fund

The International Monetary Fund's executive board has agreed to extend a $4.3 billion (R70 billion) loan to support South Africa's response to the impacts of Covid-19 on the economy.

28 Jul 2020 1PM 18 min

Steinhoff’s R19 Billion Settlement Plan

Dutch shareholder association European Investors-VEB is the first party to publicly endorse Steinhoff’s proposed €1 billion (R19 billion) settlement, which is aimed at bringing an end to a long drawn-out and extremely expensive legal battle.

28 Jul 2020 1PM 7 min

New Repo Rate Presents Great Opportunity For Hungry Investors

Contrary to popular opinion, the new repo rate will result in investors with solid balance sheets lining up for opportunities. This is the belief of John Jack, CEO of Galetti Corporate Real Estate. As announced by the South African Reserve Bank on 23 July, the repo rate now sits at…

27 Jul 2020 1PM 12 min

Business Interruption Insurance Claims

South Africa’s largest short-term insurer has agreed to pay up to R1-billion in urgent relief to policyholders whose business interruption insurance claims have been rejected by the insurer which argued that the lockdown is not covered under its policies.

27 Jul 2020 1PM 9 min

Gold Spot Price Rocketed To Its Highest Price

The precious metal has been rallying as the dollar slumped to its weakest levels against the euro in 22 months. The dollar is traditionally an investment competitor to gold.

27 Jul 2020 1PM 6 min

The Government-Backed Covid-19 Loan Plan

The loans are aimed at bolstering businesses amid the carnage caused by the coronavirus pandemic.The loans are available at prime (currently 7%), guaranteed by government and available via banks.

27 Jul 2020 1PM 7 min

The Pivot Point

Shadrack's background in management consulting led to him co-founding Coronet Blockchain. A supply chain digital infrastructure built on IBM Blockchain, Coronet Blockchain ensures that the 100 million human hair extensions sold every year to 24 million consumers guarantees the 100% quality it promises.

23 Jul 2020 1PM 6 min

Monetary Policy Committee Cuts Interest Rates

The Reserve Bank has introduced a 25 basis points rate cut, with Governor Lesetja Kganyago saying inflation is expected to be "well contained" in the medium term. Kganyago on Thursday announced that the Monetary Policy Committee was divided on the decision.

23 Jul 2020 1PM 5 min

Vodacom Results

South African mobile operator Vodacom Group Ltd (VODJ.J) on Thursday reported a 7.6% rise in first-quarter group service revenue, buoyed by strong demand for voice, data and financial services in its domestic market during the coronavirus lockdown.

23 Jul 2020 1PM 4 min

The Unemployment Insurance Fund (UIF)

The Unemployment Insurance Fund (UIF) has confirmed that along with the Department of Employment and Labour, government will continue with the COVID-19 temporary relief scheme for another six weeks.

23 Jul 2020 1PM 7 min

Central Supplier Database (CSD)

Government introduced the Central Supplier Database (CSD), to reduce the cost of doing business with government with suppliers. Suppliers believe that they receive fake RFQs since they registered on the CSD, which is not the case.

23 Jul 2020 1PM 23 min

Survey Reveals SA SMME's Are In Distress

Newly released research by TransUnion suggests that SMMEs will continue to operate in a very difficult environment for the foreseeable future. The study shows that nine in ten (90%) small businesses in South Africa are struggling or temporarily closed as a result of the impact of the COVID-19 pandemic.

22 Jul 2020 1PM 13 min

Johannesburg Stock Exchange Lists First China Focused ETF

The Johannesburg Stock Exchange (JSE) today lists its first China-focused Exchange Traded Fund (ETF), the Satrix MSCI China ETF. This ETF will track the MSCI China Index which will provide investors access to the broader Chinese equity market.

22 Jul 2020 1PM 8 min

"Million Seats On The Street"

The restaurants across the country took part in the 'Million Seats On The Street' protest to appeal to government to relax COVID-19 lockdown regulations.

22 Jul 2020 1PM 10 min

South Africa’s Retail Sales

South Africa’s retail sales plunged by a record 50.4% in April and 12% in May, data showed on Wednesday in the latest evidence of the impact of the early, stricter phase of the country’s coronavirus lockdown.

22 Jul 2020 1PM 5 min

Innovation

The French Embassy in South Africa has announced that the three South African artificial intelligence (AI) startups that were last year selected to participate in its Young Enterprise Initiative South Africa (YEi South Africa) 2020 programme – 3DIMO, Raphta, and Ubiquity AI – will exhibit their solutions and products at…

21 Jul 2020 1PM 14 min

Future Of African Businesses Post Pandemic

Hogan Lovells Africa Forum which returns for its 7th edition took place recently. This year's Africa Forum comes in the midst of the global pandemic, COVID-19, and to say it has changed the world is an understatement.

21 Jul 2020 1PM 8 min

Online Education

International EdTech company, Crimson Education, has launched a private online high school – the Crimson Global Academy (CGA) – in South Africa. The CGA will offer international qualifications including the International General Certificate of Secondary Education (IGCSE) and A-Levels, the group said

21 Jul 2020 1PM 7 min

Government Extends TERS Benefit By 6 Weeks

The government has decided to extend its Covid-19 relief scheme for workers for an extra six weeks until August 15. The National Economic Development and Labour Council (Nedlac) is also apparently finalising a plan to extend the Temporary Employer/employee Relief scheme (Ters) for three months from July to September for…

21 Jul 2020 1PM 6 min

Wealth Creation Or Stokvels In Times Of A Pandemic (Corona)

The annual StokvelEx event (owned and hosted by Seven Colors Communications - youth co) is aimed at creating platforms for fostering economic inclusion and social cohesion through stokvels, a hidden economy that has been around since 1932.

20 Jul 2020 1PM 11 min