South Africa’s eight wealthiest individuals have a combined fortune of approximately $42.1 billion (around R700 billion), according to the latest Forbes Real-Time Billionaires List. The ranking highlights the enormous wealth accumulated by some of the country’s most prominent business figures, whose interests span luxury goods, diamonds, mining, banking, media, financial services and retail. Johann Rupert […] More
The De Beers sale is edging towards the finish line, and the price tag says a lot. A company born in Kimberley in 1888 is reportedly changing hands for a fraction of its former worth. For workers in Limpopo, though, the bigger question isn’t the price. It is who will be paying their salaries. Anglo American owns 85% of […] More
South Africans could get some early Christmas relief if the South African Reserve Bank (SARB) leaves interest rates unchanged – or announces an unexpected cut – at its final Monetary Policy Committee (MPC) meeting of 2026 on Thursday, 19 November. At the time of publishing, the decision is still uncertain. Inflation risks have kept the […] More
South Africa’s 1979 F1 world champion Jody Scheckter has been ordered to pay nearly £1.5-million to Britain’s HMRC. The issue relates to long-running backdated taxes claimed against his former Laverstoke Park organic farming business in Hampshire. Now, Britain’s First-tier Tribunal (Tax Chamber) has dismissed an appeal by Jody Scheckter. It ruled that the farming operation […] More
South Africa says it is prepared for any outcome when the United States announces its decision on the country’s eligibility for preferential African trade benefits for 2027 next week. Trade, Industry and Competition Minister Parks Tau says the economy will remain stable and South African exporters will continue trading regardless of Washington’s decision on the […] More
South Africa’s economy is significantly larger than previously measured, following a major revision by Statistics South Africa (Stats SA) that has increased the country’s estimated gross domestic product (GDP) by 4.9% for 2022. The revised figures reflect changes to how the agency measures economic activity, including improved data sources, updated industry weightings and better estimates […] More
SARS is getting clever about recovering some R700 billion owed in tax receivables. More than half of this is owed by just 1 690 debtors. Essentially, amendments to the Tax Administration Act allows SARS to appoint a third party. These can be anyone from your employer, bank, asset manager and even your medical aid, withholding […] More
South Africans face mixed signals over the prospect of an interest rate hike in November, with inflation risks keeping the door open to an increase while other indicators suggest the South African Reserve Bank (SARB) could leave rates unchanged. The SARB’s final Monetary Policy Committee (MPC) meeting of 2026 is scheduled for Thursday, 19 November, […] More
On March 25, 2022, South Korea’s new crypto reporting rules coincided with an unusual reversal: Bitcoin traded at a discount of about 3.2% on Korean markets relative to dollar-denominated global prices. The episode showed how quickly the local price gap can change when regulation, liquidity and investor confidence move in the same direction. Four years […] More