Star 2025-07-18

Trade union Solidarity warned on Thursday that nearly two-thirds of FlySafair’s pilots were gearing up for a potential strike next week due to their dissatisfaction regarding salary negotiations and mounting frustrations over working conditions. Negotiations have reached a deadlock as FlySafair pilots rejected the proposed a 5.7% salary increase, which will result in the issuance of a strike certificate, granting pilots the right to engage in protected industrial action. The strike certificate gives union members the right to embark on protected strike action following the required 72 hours’ notice to the airline. FlySafair pilots are demanding 10.5% for the next financial year and then 4.5% and 4% respectively for the two years thereafter, Helgard Cronjé, deputy general secretary at Solidarity, said a recent poll revealed that an overwhelming 84% of…

Planned acquisition of MCG by Canal+ reveals minimal overlaps between the two entities The Competition Competition said on Thursday that the planned acquisition of MultiChoice Group (MCG) by the French television powerhouse Canal+ has revealed minimal overlaps between the two entities, given their respective market sizes. However, the proposed merger will necessitate a fundamental restructuring to separate the licensed broadcasting unit, which will transition into a standalone entity named LicenseCo. MultiChoice has been struggling to retain subscribers for its pay television platform, DStv, ven as it seeks to expand its digital footprint through investments in online streaming service Showmax. The acquisition by Canal+ is positioned as a revitalising force for MultiChoice, pending final approvals from regulatory bodies and competition authorities. The Tribunal on Thursday heard from the Competition Commission that…

Finance Minister Enoch Godongwana said that rising trade barriers, persistent global imbalances and new geopolitical risks were concerns for domestic economy. Delivering his opening remarks at the G20 Finance Ministers and Central Bank Governors meeting, Godongwana said many developing countries, especially in Africa, remain burdened by high and rising debt vulnerabilities. “They face constrained fiscal space and high cost of capital that limits their ability to invest in their people and their futures,” he said. “Technological shifts, especially in artificial intelligence and digital finance, offer tremendous potential but also demand robust governance and coordinated action to harness the opportunity.” Godongwana said that climate-related shocks and extreme weather events were also increasing in frequency and severity worldwide, impacti lives and macroeconomic stability. “The curative impact of these cascading challenges is pushing…

South African Airways (SAA) has declared a loss of R354 million for the 2023/24 financial year while simultaneously announcing a "debt-free, asset-rich balance sheet" that’s poised to support its recovery as a global aviation brand. CEO John Lamola portrayed these results as a snapshot of resilience, highlighting the airline's notable increase in revenue and operational efforts despite external pressures. In the audited financial results reflecting the airline’s second year of operations since its exit from business rescue in April 2021, SAA on Thursday reported that it had generated revenue of R7 billion, a 23% year-on-year increase for the group. However, currency fluctuations and various ‘external’ factors impacted operations, resulting in a net loss of R354m for the year. The group reported a profit of R210m the previous year. The latest…

When President Cyril Ramaphosa launched South Africa’s National Dialogue last week, it reignited a powerful hope - that our fractured nation could come together, once again, to chart a shared path forward. The timing could not be more fitting. As we celebrate Mandela Day, we are reminded of Madiba’s unwavering belief that dialogue is the most powerful tool we have to resolve our deepest differences and build a society grounded in dignity, justice, and unity. But to succeed, this dialogue must do more than gather leaders behind closed doors. It must be fully inclusive, reaching every corner of our country and every voice of our society. That’s not just a political imperative - it’s a moral one. From Soccer to Solidarity: The Lessons of 2010 We’ve seen before what unity…

Africa’s financial landscape is experiencing significant transformation, as digital payments increasingly displace cash, and emerging crypto assets challenge traditional notions of money. Previously constrained by low banking penetration, the continent is now redefining financial inclusion, through the growth of mobile money and fintech innovation. This shift is further propelled by the increased internet and mobile phone penetration, the rise of e-commerce platforms and youthful tech-savvy population. However, as the adoption of digital payments grows, the need for regulatory frameworks that promote innovation, protect consumers, and enhance integrity and security of the financial system has become increasingly critical. The Digital Payments Revolution Mobile money has changed the way people handle payments in Africa, with more than 1.1 billion registered mobile money accounts in 2024, reflecting a 19% increase from the previous…