Kaya Biz

Clicks surges as it ups full-year profit by a third.

Retail-led healthcare group Clicks on Thursday reported a 33.5% rise in profits for the year ended August 2022, with group diluted headline earnings per share (Heps) increasing to 1 032.7 cents, up from 773.6 cents in the previous period – bumped up by a strong recovery in the beauty category,…

20 Oct 2022 3AM 10 min

Liz Truss Resigns, will be UK’s shortest-ruling prime minister.

British Prime Minister Liz Truss has announced she will stand down as leader of the Conservative party, just six weeks after she was appointed, after her policies triggered economic turmoil and sharply divided the party. Speaking outside her Downing Steet office on Thursday, Truss said she could not deliver the…

20 Oct 2022 3AM 9 min

Nungu Diamonds - an all-black, proudly South African jeweler.

What started as a wholesale retailer by married couple Kealeboga and Ursula Pule in 2013 has evolved into a private jewellery retailer which prides itself on providing bespoke diamond experiences. The brand which offers exclusive jewellery designs, has created masterpieces for high profile clientele and celebrities such as, Somizi Mhlongo…

20 Oct 2022 1AM 11 min

Reserve Bank seizes former Steinhoff CEO Markus Jooste’s assets – what they took

The South African Reserve Bank (SARB) has seized assets belonging to former Steinhoff CEO Markus Jooste. This comes five years after severe financial misconduct at global holding company Steinhoff International became one of South Africa’s largest corporate scandals. The financial maladministration and fraud ultimately led to a 95% crash in…

19 Oct 2022 10AM 9 min

CPI eases slightly, in line with market expectations.

Annual consumer price inflation slowed marginally to 7.5% in September from 7.6% in August, edging down further from the 13-year high of 7.8% recorded in July. The easing of inflation was mainly driven by fuel prices declining for a second consecutive month, contributing to the softer headline rate. However, food…

19 Oct 2022 10AM 10 min

INSIDE YOUR BUSINESS: Overcoming Barriers to Energy Access in Southern Africa.

There are multiple dimensions to the problem of energy access in Sub-Saharan Africa, where large shares of population lack a reliable supply of electricity and affordable modern cooking fuels: from insufficient power generation capacity, to difficulties in managing energy infrastructure and attract investments in the sector, to challenges in serving…

19 Oct 2022 10AM 16 min

LEGALLY SPEAKING: Workers, families bear the brunt as more employers fail to pay

LEGALLY SPEAKING: Workers, families bear the brunt as more employers fail to pay retirement contributions.. The lifting of Covid-19 restrictions resulted in a busier year for the Pension Funds Adjudicator. Complaints came thick and fast, jumping by 26% in the year ended in March 2022, compared to when South Africa…

19 Oct 2022 10AM 16 min

EKASINOMICS: This start-up digitises SA’s notorious minibus taxi industry.

A South African mobility tech start-up with a mission to digitise the country’s notorious minibus taxi industry has raised an undisclosed amount in pre-seed funding from leading angel investors. This, says Loop founder Imtiyaaz Riley, enables the business to roll out geolocation technology and digital payments. Founded in 2021 by…

19 Oct 2022 10AM 16 min

TymeBank empowers Spaza Shops with Khona La Local Stores.

TymeBank has partnered with Khona La Local Stores to empower local businesses in Daveyton, Ekurhuleni with an affordable solution that makes it easy for customers to make cashless payments. TymeBank’s point-of-sale solution, TymePOS, is an app that turns any NFC-enabled cell phone into a tap-and-go payment device for debit and…

19 Oct 2022 10AM 12 min

SATAWU/ UNTU divisions at TRANSNET could further impact the economy.

The South African transport and allied workers union (SATAWU) has vowed to continue striking at Transnet, calling the entity's three-year wage deal with the united national transport union (UNTU) a "betrayal" of workers. on Monday afternoon, Transnet announced that it had reached a three-year deal with UNTU, the largest union…

18 Oct 2022 10AM 12 min

STATS SA Gender Series Volume IX: Women Empowerment.

The Gender Series IX report on women empowerment released by Statistics South Africa today indicates a steady increase in women's share in the working-age population over the last 5 years. Despite more females in the labour force, males have higher employment rates than their female counterparts. The gender gap of…

18 Oct 2022 9AM 9 min

ITS MY HOUSE: It can happen to anyone – here are 10 common real estate scams.

It can happen to anyone – here are 10 common real estate scams and ways to spot them. Buying a new home, especially for the first time, can be nerve-wracking. And with an increase in property fraud, you just never know who to trust. Is that listing online even real?…

18 Oct 2022 9AM 20 min

TECH & INNOVATION: SA's app economy sees tenfold growth.

South Africa’s app economy has grown tenfold over the past two years and is tipped for more growth, driven by the booming internet penetration and an increase in mobile-first consumers. This emerged during the recent App Growth and Marketing Insights Summit, organised by peer-to-peer file-sharing app SHAREit, in partnership with…

18 Oct 2022 9AM 8 min

U.K. prime minister fires finance chief amid economic turmoil.

British Prime Minister Liz Truss on Friday scrapped another key tax-cutting policy after firing her finance minister, in a bid to placate markets after the government’s controversial “mini-budget.” “It is clear that parts of our mini-budget went further and faster than markets were expecting,” Truss said in a brief press…

17 Oct 2022 1AM 10 min

Dis-Chem letter: The conundrum that business often struggles with transformation

Dis-Chem letter: The conundrum that business often struggles with driving transformation and developing skills at the same time. JSE-listed pharmaceutical retailer Dis-Chem has issued a moratorium on hiring white people to improve its employment equity profile. In a letter to senior management dated September 19, founder and CEO Ivan Saltzman…

17 Oct 2022 1AM 22 min

Wealth Creation: Retirement expectations vs reality in South Africa.

Financial services firm 10X Investments has published the fifth edition of its South African Retirement Reality Report 2022, noting that warnings of the last four years have had little effect, and retirement still holds the prospect of deprivation and disempowerment for most in the country. The economic pain of the…

17 Oct 2022 1AM 6 min

CAREERS CORNER: Betrayed at work here's how to move forward in your career.

So why does professional betrayal happen so often in businesses? Why are the most successful professionals targeted by the weakest, who are allowed to seemingly "get away with it?" In our society today we see this played out publicly - Capt. Brett Crozier is the most recent standout of this…

17 Oct 2022 1AM 12 min

Chaos at Beitbridge border post as Zimbabwe introduces new tolls.

Government is working on a number of infrastructural projects meant to transform and grow the economy and these include the ongoing US$300 million Beitbridge Border Post Modernisation project, The Lake Gwayi-Shangani, the Harare-Beitbridge Highway, several dams across the country, rehabilitation of irrigation schemes and many other such projects meant to…

17 Oct 2022 1AM 18 min

Momentum-Unisa Consumer Financial Vulnerability Index.

Momentum-Unisa Consumer Financial Vulnerability Index - Tips to improve consumer financial resilience. The overall state of South African consumers’ finances improved slightly in the third quarter of 2022 (Q3 2022) but remained under pressure. The Momentum-Unisa Consumer Financial Vulnerability Index (CFVI) increased from 48.9 points in Q2 2022 to a…

17 Oct 2022 1AM 11 min

Absa Africa FMI shows improving market infrastructure in majority of countries.

Absa Africa Financial Markets Index shows improving market infrastructure in majority of countries in the region. African countries have responded positively to the need to develop domestic financial markets to protect economies from external shocks, OMFIF’s 2022 Absa Africa Financial Markets Index reveals. Even as challenging market conditions weighed on…

13 Oct 2022 6AM 12 min