Star 2023-12-14

AS WE FIND ourselves on the cusp of a new year, it is both a pleasure and an honour to extend warm greetings and heartfelt wishes to each of you. As the Executive Editor of Business Report & Personal Finance, I am filled with gratitude for the trust you have placed in us throughout the year. 2023 has been a year of challen- ges, growth, and resilience. In the ever- evolving landscape of business and finance, your unwavering support has been the driving force behind our com- mitment to delivering accurate, in- sightful, and relevant content. We take pride in being your trusted source for news and analysis in the world of business. To our dedicated readers, thank you for choosing Business Report & Personal Finance as your go-to platform…

RMB Holdings’ (RMH) share price shot up to close 8.62% higher at 63 cents on the JSE after it declared a special dividend of 23.5c per share as it continues to monetise its assets. In results for the year to September 30, the company said it would like to return the settlement of the Atterbury base loan received together with settlements received from Integer 3, amounting to R254 million. In addition, RMH wished to return R73m of the cash retained for ongoing operations, resulting in a total dividend of R327m. The special dividend was declared on December 12. On October 10, 2022, RMH had paid a special dividend of 141.7c per share. After the unbundling of RMH’s last financial services investment, the 34% interest in FirstRand in June…

NOT ONLY ARE instant coffee lovers paying double-digit increased for their wake-me-up hot beverage, South African households are continuing to to take strain as annual inflation for food and non-alcoholic beverages accelerated to a four-month high of 9% in November this year – its highest level in four months. This was from 8.8% in October. Statistics South Africa (StatsSA) yesterday released the data as it said annual consumer inflation eased to 5.5% in November, down from a five-month high of 5.9% in October. For all those coffee lovers, StatsSA noted the price index for hot beverages rose by 11.4% in the 12 months to November. “Apart from August 2023, the annual inflation rate for instant coffee has occupied double-digit territory since March 2022,” StatsSA said. The recent Avian influenza outbreak…

Plant availability has deteriorated, and energy availability factor has declined to 55.3% Eskom has reiterated that it was expecting to record an after-tax loss of R23.2 billion by the end of the 2023/24 financial year due to the continued poor generating plant performance, in spite of achieving a profit in the first six months. The struggling power utility yesterday reported a net profit after tax of R1.6bn for the six-month period ended 30 September despite continued financial and operational challenges. The favourable tariff increase of 18.65% resulted in an increase in revenue from R144.8 billion in September 2022 to R158.6 billion in September 2023, despite a decline in sales volumes. Sales volumes during the period experienced a decline, dropping by 5.9% from 97.6TWh in the same period last year to…

AS 2023 DRAWS to a close, South Africa reflects on a year marked by a mix of achievements, controversies and economic struggles. In this retrospective, we delve into the good, the bad and the ugly, encapsulating the nation’s journey over the past 12 months. The Good One bright spot in 2023 was the significant progress made in job creation within the construction industry. As South Africa seeks to address unemployment and stimulate economic growth, the construction sector emerged as a beacon of hope. With numerous infrastructure projects underway, including roads, bridges, and housing developments, thousands of jobs were created, providing employment opportunities for skilled and unskilled workers alike. This positive momentum not only contributed to the nation’s economic recovery, but also fostered a sense of optimism and community empowerment. The…

PRESIDENT Cyril Ramaphosa has been asked by parliament to impose an un- affordable R1 trillion NHI bill on the nation, the Freedom Foundation said yesterday. According to the Foundation’s research, this is a nightmare scenario for citizens and Treasury, “since NCOP passed the National Health In- surance (NHI) Bill on December 6, ignoring amendments and warnings proposed by thousands of stakeholders.” The foundation said in a statement: “This NHI cost analysis shows conclusively that NHI as proposed would be too costly to implement. At best, there might be slow, half-hearted and partial implementation.” Statistician Garth Zietsman, the lead researcher and co-author of the report said: “Until this study, there has been no published attempt at a comprehensive costing. Many estimates have been suggested, but there has been no detailed…