KZN set to become a major tourist magnet

Fatima Asmal

Tourism still forms the heart of the beach culture in SA

By 2020, the department of economic development, tourism and economic affairs (EDTEA) in KwaZulu-Natal wants the tourism sector in the province to directly employ over 180 000 people, generate over R70-billion, achieve a 3.5% increase in business tourism, and bid for and secure one large international event on the scale of the Fifa World Cup or the Commonwealth Games.

Job-cuts backlash pits mining CEOs against Zuma

Andre Janse van Vuuren & Mike Cohen

Mining companies are "tired of political comment instead of concrete actions".

Relations between South Africa’s government and the mining industry are unravelling as a commodity-price rout derails plans by President Jacob Zuma’s administration to create millions of jobs and pare a 25% jobless rate.

Anglo Gold Ashanti announces big losses

Lisa Steyn

The bottom end of the commodities cycle continues to inflict pain on mining companies and Anglo Gold Ashanti announced even greater losses on Monday.

The world’s third largest gold miner, Anglo Gold Ashanti, on Monday reported a loss of $127-million in the three months ending June, compared with a loss of $89-million over the same period last year. The low metal price has been a significant burden for South Africa’s “sunset” industry. The price of gold slid 12.5% compared with last year fetching a cash cost of $718 per ounce in the second quarter of 2015, as opposed to $833 per ounce in the second quarter of 2015.

Scramble to avoid jobs bloodbath

Lynley Donnelly, Lisa Steyn

The jury is still out on whether the moves to save the mining sector are too little too late.

In the face of one of the worst commodity downturns in years, the Chamber of Mines, trade unions and the department of mineral resources have held emergency talks to staunch some of the blood-letting facing the sector.

A tale of the little bank that could

Lisa Steyn

Capitec is winning market share with its attractive offerings, and shaking up the sector.

Capitec Bank found itself in a tough neighbourhood when it entered the banking sector about 14 years ago. But with a combination of ultra-low banking fees and deposit rates dwarfing bigger competitors, it’s punched above its weight and today boasts almost 20% share of retail banking clients.
The neighbourhood – unsecured lending – has been so rough, its major opponent, African Bank, fell over a year ago and is in curatorship as authorities seek to refinance it.

Rand's spiral offers no real silver lining

Lisa Steyn

Exports are cheaper and the fuel price is lower, but analysts worry that there's a risk of a recession.

Amid poor economic data, most notably poor gross domestic product (GDP) numbers and a weakening currency, the low oil price is a reminder that things could be worse.

Let the live streaming games begin

Lynley Donnelly

Content and cost will determine the success of video-on-demand, which is coming of age in SA.

Local media and technology behemoth Naspers launched its video-on-demand service this week, pre-empting the arrival in South Africa of the international streaming service Netflix.