31 Jul 2012

Finance, Accounting & Banking

 



Nice about the heads, pity about the officials

Basic Education Minister "It's not my fault" Angie Motshekga has praised
Limpopo principals and curriculum advisors for their dedication in the face of what can only be described as a shambles - namely the textbook debacle in Limpopo. Pity she cannot say the same about some of the officials in that province.

On a good note, however, Avusa's matric Q&A supplement is out now - in last Sunday's Sunday Times and tomorrow's Sowetan.

On the manufacturing front, Trade and Industry (dti) Minister Rob Davies says that the best way for Africa to forge ahead and develop is by industrialising. Davies reckons it's the key to spur African growth. Still in the area of manufacturing, Volkswagen's engine plant is firing on all cylinders after an order for 12 000 engines came in from China.

Government, meanwhile, has kindly explained the ins and outs of the "blue light brigade", and how traffic fines relate to state vehicles. So nice to know.

Lastly, Bizcommunity's very own muscle-man in an anorak, Henrie "I am a rock" Geyser gets to grips with the VW Amarok and reckons it's smoother, and it flexes more muscle.

Rod Baker, content director

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Finance, Accounting & Banking


Reserve Bank appoints Anthony Chait to its board
[Alistair Anderson] The Reserve Bank on Friday, 27 July 2012, announced the appointment of investment consultant Anthony Chait as a new director to its board. He will replace Stephen Goodson‚ who resigned in May. Read more >>

After-hours entrepreneurs attempt to overcome economic downturn
The current global recession, which has resulted in consumers seeking additional income and job security, has fuelled the trend of after-hours entrepreneurs engaging in sideline business ventures while still holding a full-time job. This trend illustrates encouraging signs of economically proactive members of society attempting to overcome the current economic downturn. Read more >>

Banking


Absa the leading retail bank in survey
Absa has been voted the leading retail bank in the 2012 TGI Icon Brands survey, while Absa idirect was voted the leading short-term insurer. The TGI Icon Brands survey is a special measure of how consumers feel about brands in South Africa and looks for quintessential brands that fly the South African flag high. The survey asks readers to identify brands that are used by South Africans of all races and cultures. These are brands that define a common experience, often on a daily basis, to which South Africans are tangibly committed.

Bioavailable extracts producer Plandai gets 49m from the LADBSA
Market Watch website reports that US-based Plandai Biotechnology announced that it has received R49 million from the initial draw down on the R100 million loan from the Land and Development Bank of South Africa (LADBSA). Read more >>

Credit Services


Transnet's billion-dollar bond over-subscribed
State-owned freight transport and logistics company Transnet on Friday, 20 July 2012, announced the successful issuance of a $1-billion 10-year bond at a coupon (interest) rate of 4,0% following road shows in Europe and the US. Read more >>

Finance, Accounting and Banking


Bizcommunity.com revamps recruitment business
Since its launch in 2001, Bizcommunity has always seen the benefit for our readers of having industry jobs available on the site, as well as the benefit to companies looking for applicants and recruiters and recruitment agencies having a targeted audience pool to search for good quality applicants and CVs. Read more >>

Gauteng commits to better audit outcomes
Gauteng will work hard to ensure better audit outcomes in the future, Gauteng Premier Nomvula Mokonyane said on Tuesday, 24 July 2012. Read more >>

South Africans need loans to survive
Fin24 says that at least two out of three South Africans feel that they have no option but to incur higher levels of debt in order to pay their bills according to figures published in the Old Mutual Savings and Investment Monitor. Read more >>

Payments 'will switch from cards to mobile phones'
The use of debit and credit cards would reduce over time as more consumers used cellphones to make payments using new technology that eliminated the need to swipe a card, Deloitte said on Wednesday, 25 July 2012. Read more >>

Financial Services


Corrupt public servants pocket R300-million
Times Live says that fraud and misconduct by public service workers cost the government about R300-million and at least R150-million of that will never be recovered. Read more >>

Investment Banking


Industrialisation key to spur African growth
While Africa is sitting on the cusp of increasing investment, the continent should transform the growth spurt into a more sustainable developmental path that is driven by industrialisation, while also attracting foreign direct investment, says Trade and Industry (dti) Minister Rob Davies. Read more >>


Company news

Taxation


Beating tax returns blues with e-Filing - Softline VIP
The individual tax filing season opened on 1 July 2012 for the period 1 March 2011 to 29 February 2012, which is a dreaded event for many a person. e-Filing is however a quick, easy and efficient way of managing your tax return, says Karen Schmikl, a Legislation Manager at Softline VIP, part of the Sage Group Plc. Read more >>


Government
Zuma mulls 5.5% pay rise for public office bearers
President Jacob Zuma is considering a 5.5% increase for public office bearers recommended by the Independent Commission for the Remuneration of Public Office Bearers, the commission's chairperson Judge Willie Seriti said yesterday. Read more >>

More Government news...


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Account Manager - Morningside - Sandton
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Trainee Developer - FinChoice - Cape Town - Southern Suburbs
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