On paper, Anglogold's had the worst year among listed gold companies, but a ruthless handle on costs and a mine-by-mine review should start to pay off
Chinese companies are the big winners in brand values ranking
It’s ‘highly unusual’ for such farms to have $4m cash on hand
An FM survey shows that even the prices of basic foods has rocketed more than 20% in a year, putting SA’s already-tenuous social stability at risk. But hiking grants, while a temporary relief, won’t ...
A new book asks why certain cities became the epicentre of the world at a specific point — and speculates which ones might lead in the future
New allocations to water infrastructure provider the Trans-Caledon Tunnel Authority (TCTA) and SAA have increased the government’s debt guarantees to state-owned entities (SOEs) by R13bn over the next three years.
This takes to R483bn its exposure to guarantees on the outstanding debt of 12 SOEs in the financial year.
What this means is that the government has to stump up R483bn, should any of the major SOEs default on their debts. A cross-default clause on the major utilities means that failure to meet a debt payment when it becomes due by a single institution automatically triggers a settlement of all debt owed by the other SOEs.
However, even though companies such as SAA and Denel have on numerous occasions failed to meet payment obligations when they are due, the government has so far succeeded in keeping capital providers from demanding immediate settlement.
To curtail demands for new funding, finance minister Tito Mboweni diverted about R6bn from other budget items. The Land B...
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email email@example.com or call 0860 52 52 00. Got a subscription voucher? Redeem it now
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.