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Hanekom working "very closely" with Gigaba on visa regime to renew tourism industry

26th October 2018 Tourism minister Derek Hanekom said on Friday that he was working "very closely together" with home affairs minister Malusi Gigaba to rectify South Africa's visa regime in a bid to attract more travelers into the country and boost investment and tourism. Last month, Gigaba announced that South... 

SA revenue projections credit negative – Moody's

26th October 2018 Ratings agency Moody’s, which still rates South Africa at investment grade after peers Fitch and S&P Global cut it to 'junk', says the revenue projections in the medium term budget policy statement delivered by Finance Minister Tito Mboweni this week are credit negative. Mboweni told parliament... 

Giuricich Bros secures Vukile investment for new prime offices

25th October 2018 Family-owned construction firm Giuricich Bros said on Thursday JSE-listed retail real estate investment trust Vukile Property Fund had acquired a substantial section of its new premium-grade offices in Rosebank. Giuricich began work on the 6 400 m2 office block development in September 2017 and... 

Rand not taking the bait on Mboweni's budget

25th October 2018 The medium-term budget seems to have done little to allay business and consumer fears as the rand was not convinced on Thursday by reforms announced by government. Finance minister Tito Mboweni on Wednesday delivered the medium-term budget policy statement (MTBPS) outlining that government was... 

Mind the debt trap, Mboweni warns

25th October 2018 Finance Minister Tito Mboweni on Thursday warned that reprioritising spending was the only way for South Africa to avoid falling into a debt trap and losing autonomy over its finances. Mboweni told a joint sitting of Parliament's standing and select committees on finance and appropriations the... 

Ramaphosa to attend G20 investment summit in Germany – Cabinet

25th October 2018 President Cyril Ramaphosa will travel to Germany next week for the G20 Investment Summit after receiving an invite from German Chancellor Angela Merkel, government said on Thursday. In a statement on Wednesday's fortnightly cabinet meeting, government said the summit will involve a meeting of... 

Anheuser-Busch InBev third quarter revenue up 4.5%

25th October 2018 The world's largest brewer Anheuser-Busch InBev said on Thursday its revenue grew by 4.5% in the third quarter, while total volumes were up 0.2%. AB Inbev said ​good growth in own beer volumes achieved in Europe, Mexico and many African markets during the quarter were partially offset by Brazil... 

Govt banking on policy certainty to revive mining industry

24th October 2018 South Africa's government is banking on recent reforms and policy certainty to revive the mining industry after production  fell by 1.7% in the first eight months of 2018 compared with an increase of 4.5% in the same period last year, Finance Minister Tito Mboweni said on Wednesday. In his maiden... 

Mboweni throws NHI R500m lifeline

24th October 2018 Finance Minister Tito Mboweni said on Wednesday that government would be reprioritising R546-million within the National Health Insurance (NHI) indirect grant to address the critical shortage of medical professionals and to procure beds and linen for public healthcare facilities. The NHI is... 

I will try to protect Treasury from political meddling – Mboweni

24th October 2018 Finance Minister Tito Mboweni on Wednesday said he would strive to protect the National Treasury from political interference but conceded that he would be naive to think he could succeed. "I thought one thing I am going to try to do is provide political protection to National Treasury or to the... 

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