RIP: former Steinhoff CEO Markus Jooste pays the ultimate price

Tawanda Karombo|Published

According to the SAPS, the mastermind behind the Steinhoff scandal – South Africa’s largest corporate fraud – shot himself in Hermanus.

FSCA imposes R475 million penalty on Jooste for Steinhoff accounting irregularities

Tawanda Karombo|Published

Steinhoff was rocked by an accounting scandal in 2017, with audit firm Deloitte confirming the accounting irregularities.

Vitol and Engen merger will affect local petroleum refineries, Tribunal hears

Tawanda Karombo|Published

The merger is likely to result in the foreclosure of local production due to the loss of a significant customer who is Engen.

Repurpose towns hit by mine closures and retrenchments - Bench Marks Foundation

Tawanda Karombo|Published

David van Wyk, the lead researcher at Bench Marks Foundation.

Transnet finalises partnership with Philippines port operator to manage Durban’s Pier 2

Tawanda Karombo|Published

The partnership will have a positive impact on Transnet, container supply chains and on the competitiveness of South Africa’s economy.

BLSA CEO decries depressing wave of job losses in mining industry

Tawanda Karombo|Published

Mavuso criticised political meddling in the running of state-owned enterprises by Public Enterprises Minister Pravin Gordhan on the appointment of top executives. ...

Sibanye-Stillwater’s Marikana employees uncertain of future despite reduced retrenchments

Tawanda Karombo|Published

A reprieve after the mining firm says it has reduced the number of planned retrenchments across its South African PGM operations to 2,600, down from the 4,095 announced ...

Rand manipulation shows corruption has hit multifaceted, complex levels in SA

Tawanda Karombo|Published

Corruption Watch said it was “good for the Competition Commission to satisfy itself, given the importance of this matter”.

Cape Town to drive SA’s wealth by 60% over next 10 years

Tawanda Karombo|Published

Cape Town is attracting large numbers of high-net-wealth individuals from other South African cities while it has also become a popular destination for wealthy individuals ...

NUM calls for end to sit-in and hostage protests at Gold One

Tawanda Karombo|Published

The National Union of Mineworkers (NUM) yesterday advised mine-workers at Gold One, whose management insists that there will be no reversal to the mass employee ...

Standard Chartered ready to sink other banks

Tawanda Karombo and Nicola Daniels|Published

As many as 27 other banks were allegedly involved in the scheme that the Competition Commission says had wider implications running into trillions of rand.

Struggling Zimbabwe’s Hwange Colliery wants to export coal to SA

Tawanda Karombo|Published

Zimbabwe?s Hwange Colliery has set its eyes on exporting coal to South Africa to wriggle its way out of a financial crisis.

Zim central bank stops forex allocations for fuel

Tawanda Karombo|Published

Governor, John Mangudya says starting on Tuesday, fuel marketers have to use the interbank market to source forex for fuel importation.

Zimbabweans are drinking less fizzy drinks as forex crunch hammers Zim’s Delta Corp

Tawanda Karombo|Published

Consumption of soft drinks in Zimbabwe has gone down after the country's biggest beverage manufacturer recorded a 44% decline in volumes.

Zimbabwe scrambles to resolve cash crunch

Tawanda Karombo|Published

Zimbabwe is trying to clear its arrears with the World Bank and African Development Bank so it can unlock fresh credit lines.

Success of Zimbabwe's currency reform needs sound fiscal measures – IMF

Tawanda Karombo|Published

Zimbabwe is struggling to prop up its economy, weighed down by years of decline blamed on poor economic policies and political instability.

Three Zimbabwe gold mines shut down operations over forex challenges

Tawanda Karombo|Published

Other gold producers in Zimbabwe that include Metallon have also been struggling, managers from some of its operations said.

Foreign funders pull out of Zimbabwe over lack of foreign exchange

Tawanda Karombo|Published

Africa Guarantee Fund has withdrawn its investment as the guarantor of investment notes issued by Zimbabwe?s Untu Capital.

UK seeks SA’s help in Zimbabwe, DRC rescue mission

Tawanda Karombo|Published

The UK is seeking closer ties with SA and is working closely with the government on the imploding economic and political situation in Zimbabwe.

Zimbabwe gears up to exploit two new diamond finds

Tawanda Karombo|Published

The government said Russia?s Alrosa and China?s Anjin would partner it in the new discoveries in Masvingo and Chihota.

Mnangagwa seeks Russian FDI as SA and global funders turn away

Tawanda Karombo|Published

South African officials also say they are not in a position to advance Zimbabwe a financial package to help it end years of economic decline.

Embattled Choppies settles shareholder dispute in Zimbabwe

Tawanda Karombo|Published

Troubled Botswana and regional retail chain Choppies has moved to quell boardroom wrangles and internal disputes at its Zimbabwe operation.

No respite for Zimbabwe's battered economy

Tawanda Karombo|Published

There has been no quick respite for Zim?s economy following four days of a massive protest action against steep increases in the price of fuel.

Zim inflation spikes as forex shortage weighs on supplies

Tawanda Karombo|Published

Zimbabwe?s inflation last month spiked to its highest levels since 2010 as a shortage of foreign exchange curbed supplies of basic commodities.

Zim's new use it or lose it claims policy deters

Tawanda Karombo|Published

Zimbabwe's newly announced policy to take over unused mineral claims from mining firms in the country will deter investment in its lucrative mineral resources industry. ...