Nelson Mandela Bay Launches Municipal Debt Relief Programme
The Nelson Mandela Bay Municipality has launched a debt relief programme to help residents and businesses clear arrears and improve city service delivery.
The Nelson Mandela Bay Municipality has launched a debt relief programme to help residents and businesses clear arrears and improve city service delivery.
South Africa’s National Treasury and the South African Reserve Bank (SARB) released a draft Crypto Asset Manual on 3 August 2026 that proposes barring resident companies from transacting cryptocurrency across the country’s borders, drawing sharp criticism from the country’s largest crypto exchanges. The public has until 30 September 2026 to...
Thousands of South Africans face total financial loss after the Morita Forestry investment platform ceased all operations on 29 July 2026, leaving an estimated 385,000 registered accounts frozen. The scheme, which promised daily payouts from purported woodland projects in the United States, effectively shut down after suspending all investor withdrawals...
The National Treasury has initiated the temporary withholding of July 2026 equitable share transfers to 69 municipalities across South Africa, including 16 in the Free State, as a measure to enforce fiscal discipline and address ongoing financial mismanagement. The central government directive targets councils that have failed to comply with...
Chancellor Rachel Reeves has announced the launch of a new “skills compact” in the City of London, designed to commit financial services firms to proactively retrain staff affected by the integration of artificial intelligence. The initiative seeks to safeguard employment within the sector as institutions increasingly adopt automation to manage...
Major UK banks and building societies are failing to provide adequate support to vulnerable customers, with a recent Financial Conduct Authority (FCA) investigation revealing that one-third of interactions regarding basic bank accounts were rated as poor or significantly substandard. This failure persists despite a legal mandate requiring the nine largest...
Developing nations are currently navigating a challenging economic transition as they attempt to balance urgent development needs with the global requirement to shift towards low-carbon economies. These countries face a structural "trilemma" of reducing carbon emissions, stimulating economic growth to alleviate poverty, and managing high levels of sovereign debt. Financial...
The National Treasury plans to withhold July equitable share fund transfers to 35 municipalities across South Africa due to persistent and severe financial governance failures. Finance Minister Enoch Godongwana has officially notified the South African Local Government Association (Salga) of the government’s intent to invoke Section 216(2) of the Constitution...
Millions of consumers are struggling under the weight of record household debt levels, with many failing to access essential financial relief due to a widespread lack of awareness regarding available support schemes. Rising costs for energy, water, and other essential services have left a significant portion of the population in...
The National Treasury is set to pay more than R2 billion in interest on the R202 inflation-linked bond on 8 June 2026, underlining the mounting costs of South Africa’s government debt as debt-service payments continue to consume an increasing share of the state budget. Rising Debt Costs Outpace Social Spending...
China’s exchange traded fund market has entered a historic phase of expansion, breaking through 5.78 trillion yuan in assets under management during 2025. This milestone reflects not only extraordinary numerical growth but also a deeper structural shift in how Chinese investors engage with capital markets. The sheer pace of expansion,...
The Supreme Court of Appeal has detonated a legal bombshell, ordering WesBank to hand back R170 023 to Alta Van Niekerk after the bank financed a defective 2012 Ford Ranger 3.2 TDCi diesel 4×4 that was unfit for the road. In a unanimous judgment the court declared that a financier...
Binance Pay has broadened its footprint in South Africa by enabling cryptocurrency payments at more than 31,000 merchants nationwide through its partnership with Zapper. This integration means consumers can now settle everyday purchases using digital currencies at a range of familiar establishments, from FlySafair and Dischem to KFC drive-throughs and...
The South African Revenue Service has significantly stepped up its tax compliance initiatives, turning its focus towards social media influencers who may have failed to declare earnings from sponsored content and brand collaborations. This move comes as part of SARS’s larger strategy to retrieve R513 billion in outstanding taxes and...
July 2025 – Bitcoin has once again made headlines, smashing through previous records to reach an unprecedented high of R2,102,264 per BTC. This milestone not only cements its reputation as the world’s leading cryptocurrency, but also highlights its growing importance in the South African financial landscape. Bitcoin Breaking Records On...
Bitcoin has once more climbed past the landmark price of $100,000, stirring fresh enthusiasm among investors and signalling renewed bullish sentiment in the cryptocurrency market. This marks the first time since January that Bitcoin has reached such heights, a feat that underscores its resilience amid volatile global conditions. The leading...
In today’s financial landscape, your credit score serves as the gateway—or barrier—to your financial dreams. Whether buying a home, securing vehicle financing, or simply applying for a credit card, your credit score profoundly impacts your financial journey. In South Africa, navigating the complexities of credit scores can often feel intimidating....
Elderly social grant beneficiaries endured long waits outside the South African Social Security Agency (Sassa) office in Wynberg, Cape Town, on Tuesday as they rushed to replace their expiring gold Sassa cards. The renewal, necessitated by the upcoming February 28 deadline, saw pensioners arriving before dawn in hopes of securing...
The digital currency Bitcoin surpassed the R1.8 million mark (equivalent to $100,000) on Thursday, marking a historic peak. US President-elect Donald Trump attributed this significant rise to his electoral success, addressing his followers on social media with a message of gratitude. The cryptocurrency experienced an impressive increase of over 50...
Bitcoin crossed a significant milestone on Monday, surging beyond R1.5-million for the first time, as the cryptocurrency market experiences a renewed rally in the wake of the recent United States election. Following the election of former U.S. president Donald Trump and a number of pro-crypto legislators, Bitcoin reached an impressive...
The recent US presidential election has set off a notable rise in the price of Bitcoin, the world’s most widely traded cryptocurrency. Reports indicate that Bitcoin surged past its historical high on Tuesday, following projections that Republican candidate Donald Trump is positioned to potentially reclaim the White House. On the...
South Africa has achieved a significant milestone in the digital finance world, becoming the first nation to adopt Mastercard’s new real-time card payment system. This development signals a transformative shift in the country’s financial landscape, aimed at enhancing transaction efficiency by enabling banks to process payments instantly. The introduction of...
Currency conversion between the South African Rand (ZAR) and the United States Dollar (USD) is a common need for individuals and businesses engaging in international trade, travel, or investment. Understanding the exchange process, rates, and factors influencing these currencies can help you make informed decisions when converting ZAR to USD....
In a welcome development for consumers, fuel prices in South Africa are set to decrease on Wednesday, bringing relief to motorists across the country. This reduction will see petrol and diesel prices drop to levels last recorded in the first half of 2023. Both grades of unleaded petrol, 93 and...
Hundreds of South Africans who lost their homes due to missed bond payments, only to see these properties sold at a fraction of their actual value, are eagerly awaiting the start of a R60 billion class action lawsuit against several of the country’s leading banks. The lawsuit, which targets banks...
Pensioners in Mitchell’s Plain have voiced their dissatisfaction with the South African Social Security Agency (SASSA), citing “constant misdirection” from local officials as the cause of their frustration after failing to receive their pensions for July 2024. No Post Office in Mitchell’s Plain Last week, numerous pensioners found themselves unable...
The upcoming repayments to thousands of victims from the 2014 Mt. Gox heist could affect Bitcoin prices, according to experts cited by CNBC. Bitcoin, the world’s largest cryptocurrency, fell below $60,000 last week, marking its second-worst weekly decline of the year. On Monday, the bankrupt Tokyo-based Mt. Gox exchange announced...
In the current economic climate, characterized by a depreciating dollar-to-rand exchange rate hovering around 18.5:1, high interest rates at 11%, and inflation at 6.9%, investing in South African real estate may not yield the returns investors anticipate. Depreciating Currency and Its Impact The depreciation of the rand against the dollar...
The South African rand experienced a decline on Thursday as preliminary election results indicated that the African National Congress (ANC) might fail to secure a majority. This outcome could lead to a period of instability as the ANC seeks to form a coalition with smaller parties. By 07:16 GMT, the...
The Securities and Exchange Commission (SEC) is edging closer to approving a highly anticipated ‘spot’ Ethereum exchange-traded fund (ETF), potentially as soon as this week. Ethereum Regulatory Shifts and Influences Sources close to the Commission indicate that the SEC and its Chairman, Gary Gensler, are considering recent court rulings and...