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Cash-in-transit heists could lead to losses of R470m, Parliament hears

By: News24Wire      14th June 2018 Cash-in-transit heists will lead to cash losses of R470-million this year if the current trend continues, the Portfolio Committee on Police heard on Wednesday. The meeting brought together a range of stakeholders concerned with cash-in-transit heists, including the South African Banking Risk... 

Rising attacks on cash-carrying vans pose threat to economy

By: African News Agency      1st June 2018 A renewed surge in attacks on armoured trucks that transport vast amounts of money between retailers and banks is hurting South Africa's economy, given that the bulk of transactions in the country are still conducted in hard cash, industry officials said this week. Cash-in-transit (CIT) attacks... 

Gupta firms sue Bank of Baroda to try stop account closures  

By: Bloomberg     17th August 2017 Companies controlled by the Gupta family, whose accounts are being closed down by Bank of Baroda, said they’re taking legal action against the lender to try and stop the termination, which comes after South Africa’s four biggest lenders cut banking services for the family that’s in business with... 

Think-tank hands over title deeds to residents of Western Cape town  

By: Ilan Solomons     11th August 2017 Think tank the Free Market Foundation’s (FMF’s) Khaya Lam land reform project last month handed over the latest batch of title deeds to residents in the town of Grabouw, in the Western Cape, thereby taking the project’s total title deed handover tally to 1 360. Khaya Lam project manager Perry... 

May unveils British initiatives aimed at reducing Africa’s reliance on aid

By: Keith Campbell     21st July 2017 British Prime Minister Theresa May used the recent G20 Summit in Hamburg, Germany, to announce a series of new British initiatives intended to reduce the reliance of African countries on aid and increase their long-term stability and prosperity. This was in line with a theme for the summit... 

SA-based company partners with Chad to develop country’s nascent minerals sector

By: Ilan Solomons     3rd March 2017 Gold mining, refining and resources development company Quaestec Gold Africa Resources has partnered with the government of Chad to develop the Central African country’s nascent mineral resources sector, says company CEO Charles Fourie. Chad’s gold deposits occur over 1 200 km, from the south to... 

Basa calls for collusion case against banks to run its course

By: Megan van Wyngaardt     16th February 2017 The Banking Association South Africa (Basa) on Thursday implored the public to not make harsh comments or brash decisions following the Competition Commission’s decision to refer a case of alleged collusion against 17 banks to the Competition Tribunal for prosecution. The commission on Wednesday... 

‘Very tough’ mining year ahead as ‘lawfare’ breaks out – Nedbank

By: Martin Creamer     23rd January 2017 South African mining has a “very tough” year ahead, with "lawfare" breaking out. While existing large, powerful mining companies will persist, growth through new entrants and foreign investment is highly unlikely this year, resulting in escalating opportunity loss. 

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