Category: Daily Update
South Africa is a country renowned for its diverse sports culture and thriving agricultural secto.
South Africa is a nation celebrated not only for its rich cultural diversity but also for its vibrant sports scene and flourishing agricultural sector. When it comes to sports, the country has a long-standing tradition of excellence across a variety of disciplines, and its passion for sports is deeply ingrained in the national identity.Football (or soccer) is one of the most beloved sports in South Africa. The country has produced many talented footballers who haveLearn More
Ithala faces provisional liquidation, but government guarantee will kick in to protect consumers.
The South African Reserve Bank’s Prudential Authority has approached the KwaZulu-Natal High Court in Pietermaritzburg to request the provisional liquidation of Ithala SOC, a development finance agency. This action follows a report from a repayment administrator, which concluded that Ithala is both technically and legally insolvent.If the liquidation is approved, about 257,000 depositors may face the loss of all or part of their deposits. The liquidation would also mean that their accounts will need toLearn More
Five key takeaways from Ramaphosa’s State of the Nation Address.
In his final State of the Nation Address, President Cyril Ramaphosa did not present fresh ideas for addressing South Africa’s most urgent economic and social challenges. Instead, he used the occasion to reflect on the achievements of the ANC-led government over the past 30 years of democracy, highlighting the progress made since the end of apartheid.The speech, delivered on Thursday at the Cape Town City Hall, primarily focused on past successes, without announcing significant newLearn More
The man who will take over the R209 billion Rupert empire.
The man called Anton Rupert,Is the son of South Africa’s most wealthiest man, Johann Rupert, is poised to take over the family’s vast business empire, valued of total R209 billion. This includes control over major companies like Richemont, Remgro, and Reinet—conglomerates that span industries such as luxury goods, finance, and investment.Johann Rupert, a household name in South Africa and one of the most influential businessmen in Africa, inherited his wealth from his father, Anton Rupert,Learn More