When planning your next adventure to Zambia, it’s important to note the recent changes in the country’s financial landscape. A draft document released by the Bank of Zambia on Saturday revealed that individuals caught using foreign currency for local transactions could face up to ten years in prison or substantial fines. READ THE ORIGINAL ARTICLE ON IOL
NSFAS is projecting a 7% increase in the number of students qualifying for bursaries this year, and for the first time, TVET college students will receive living allowances Higher education minister Blade Nzimande says government is aiming to increase the number of students receiving National Student Financial Aid Scheme (NSFAS) funding to one million. Nzimande […]
With the latest increase in the repo rate, home owners are expected to dig deeper into their pockets to pay back their bonds. The chairperson of the Seeff Property Group, Samuel Seeff, said that homeowners were likely to feel the pinch from the latest increase in the repo rate. This comes after the reserve bank […]
Economists are predicting another rate hike, after six increases to the repo rate in 2022. Economist Dale McKinley said that the country’s Monetary Policy Committee (MPC) needed to adopt a better fiscal policy that would accommodate the public. His remarks come as the committee enters day two of its three-day meeting before Friday’s announcement of […]
Blade Nzimande, South Africa’s higher education minister, on Tuesday announced that the current student debt owed to tertiary institutions stood at around R16.5 billion. Minister Blade Nzimande has emphasised that the extent of student debt posed a serious threat to the future sustainability of the country’s higher education institutions. Nzimande, South Africa’s higher education minister, […]
City Power spokesperson Isaac Mangena says the entity is owed about R4 billion by businesses and residents. City Power says it will be expanding its disconnection drive to other parts of Johannesburg where there are high rates of non-payment. City Power spokesperson Isaac Mangena said the entity was owed about R4 billion by businesses and […]
The main contributors to the latest annual inflation rate includes food and non-alcoholic beverages, housing and utilities, as well as transport. Statistics South Africa said that the annual consumer price inflation eased for a second month to 7.2% in December. The figure comes down from 7.4% in November. The main contributors to the latest annual […]
There have been concerns about the increased loans, with opposition parties arguing that the money will need to be paid back but government says that it is necessary and the interest rates are low. Despite President Cyril Ramaphosa deciding not to attend the World Economic Forum (WEF) meeting in Davos, Switzerland due to the electricity […]
The Standing Committee on Finance has warned that National Treasury will have to take responsibility if the October deadline of amending the Financial Intelligence Centre Act (Fica) is not met. It says National Treasury delayed in submitting the proposed amendments. In June, authorities warned the Committee that South Africa’s anti-money laundering legislative framework is lagging behind […]
President Cyril Ramaphosa will respond to a debate on his budget vote that he tabled on Thursday. Source eNCA