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Microfinance bodies merge into single fund
03 May. Microfinance bodies merge into single fund. A new umbrella microfinance agency, which will fall under the Industrial Development Corporation (IDC), will use the new Postbank facilities at post offices around the country to fast-track loans to small businesses. Announcing the establishment of the SA Finance Enterprise Agency (Safea) in Parliament yesterday, Economic Development … Continue reading
Call for economic power to ‘the people’
Recreated Black Business Council aims at giving financial power to the country’s majority. The newly re-created Black Business Council (BBC) is the economic version of the ANC, says its president, Ndaba Ntsele. Whereas the ANC delivered political power, the BBC hopes to give “the people” economic power. Black people need to control the commanding heights … Continue reading
New initiative best way to fight graft
The public launch of Corruption Watch is arguably the most important political development in SA since the Polokwane putsch of 2007. The public launch yesterday of Corruption Watch — an initiative of the Congress of South African Trade Unions that will be funded independently but which has been endorsed by the government and a range … Continue reading
SA business growth ‘choked by rules and red tape’
26 Jan. A survey finds 37% of privately held business owners in South Africa cite red tape as their chief constraint, followed by a lack of a skilled workforce, at 36%. Overregulation and red tape are the biggest constraints to business expansion in SA, according to a survey by accounting, audit and advisory firm Grant … Continue reading
Cosatu laments ‘white, capitalist-owned’ JSE
06 Jan. Cosatu laments ‘white, capitalist-owned’ JSE. More than 80% of the JSE is accounted for by the large banks and the few companies in the traditional sectors: mining and energy, the Congress of South African Trade Unions (Cosatu) has said. “All these companies are white, private, and capitalist-owned and they are increasingly being foreign-owned,” Cosatu … Continue reading
World Bank: Doing business 2012
The ease of doing business in South Africa went up a notch this year to rank 35th out of 183 economies, according to a report released by the World Bank. One of the factors contributing to South Africa’s improvement was the new Companies Act, which eliminated the requirement to reserve a company name and simplified … Continue reading
SA still the robust engine of Africa for US investors
SA still the ‘robust engine’ of Africa for US investors. US investors still thought of SA as Africa’s “robust economic engine” despite concern about slower growth and the raging debate over nationalisation, senior US officials yesterday said. US Assistant Secretary of Commerce for Market Access and Compliance Michael Camun ez arrived in SA yesterday with … Continue reading
Tutu’s sanctions put economy back by years
By proposing a wealth tax exclusively on white people because he claims they benefited from apartheid and because black impoverishment persists, Archbishop Emeritus Desmond Tutu displays not only an ignorance of economics, but also a degree of amnesia. Like painkillers, the idea of throwing money at marginalised sections of society does not provide a cure, … Continue reading
Job-loss season is here and unions are to blame
Job-loss season is here and unions are to blame. By Brian Kantor* The annual strike season is well upon the economy. The usual well-above-inflation increases are being demanded and accompanied by the usual marches, toyi- toying and some violent intimidation of workers less inclined to put their jobs at risk. And after losses of production, … Continue reading
Busa must find the courage to lead
06 Jul. Busa must find the courage to lead. Has the job of Business Unity SA (Busa) just become harder or easier? Losing one member — when it is the noisy and polarising Black Management Forum (BMF) – is surely a boost. Many have questioned the interest of the BMF under president Jimmy Manyi in … Continue reading
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