The arms deal judgment will have implications for future commissions of inquiry. The Gauteng High Court in Pretoria set aside the findings of the 2015 Seriti commission report into the billion-rand arms deal.
Light rain. More sun than clouds. Cool.
Though the IDC - a national development finance institution - expects to "create and save" over 19 000 jobs, this is some 10 000 fewer than projected in 2018.
Economic Development Minister Ebrahim Patel says he declined several invitations from the Guptas, including one to attend the now-infamous wedding at Sun City in 2013.
Almost 14% of the financing made available by the state-controlled Industrial Development Corporation (IDC) in the past financial year was granted to businesses in distress.
South Africa's mobile market has taken a hit as smartphone sales decline after the festive shopping season, says an industry tracker.
The brand, which once dominated the cellphone market, announced a comeback with a brand new high spec, mid-priced Android-powered smartphone in SA.
Practitioners have failed to take over the mine so that it can have a fair chance at being rescued.
The Gupta family’s Oakbay group of companies has disputed that the IDC lawyers have the authority to represent the financier in its R287.5m case against the group.
Rural communities in Mpumalanga have been granted a 16.1% stake in a coal mine following a ground-breaking agreement.
ICYMI: A roundup of Wednesday's must-read financial and economic news.
Oakbay, which faces legal action from the IDC over its failure to pay back R293m owed to the state-owned entity, has called the IDC's actions “spurious and malicious”.
Union Solidarity has asked Minister of Trade, Industry and Competition Ebrahim Patel to sit in on an ArcelorMittal meeting aimed at discussing the company's restructuring plans, which could see as many as 2 000 employees retrenched.
Trade and Industry Minister Rob Davies said he met with members of the Gupta family on several occasions between 2009 and 2013.
The creditors’ committee doubts the new owners have the money to do the job, and wants proof.
South African consumers are ready for a resurgent Nokia brand, the official licence holder believes.
Smartphones in the Europe, Middle East and Africa are coming under pressure as sales slip for a second year.
A local minerals and investments company has signed a R190m loan with the Industrial Development Corporation to acquire a 74% stake in the cash-strapped Vantage Goldfields SA to reopen two Mpumalanga mines.
The small town of Port St Johns on the Wild Coast in the Eastern Cape is set for a facelift with plans for a state-of-the-art R100m holiday resort.
The #GuptaLeaks prove what many have long suspected: the November 2014 JSE listing of the Guptas’ Oakbay Resources & Energy – sponsored by Sasfin Capital, audited by KPMG and banked by Absa – was rooted in fraud.
Female entrepreneurs need to start thinking beyond fashion design if they want to tap into the clothing and textile industry, says an Industrial Development Corporation dealmaker.
The Industrial Development Corporation should have foreseen that it was risky to convert a loan to Oakbay Resources into shares, says a corporate banking principal.
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