Star 2025-07-23

FlySafair has refuted claims suggesting that it has refused to engage with the Commission for Conciliation, Mediation and Arbitration (CCMA), asserting that it has actively participated in all required discussions throughout the process. This comes as FlySafair experienced operational disruptions on Monday as it was forced to cancel 26 flights following the lockout of around 200 pilots who have embarked on industrial action. The pilots are demanding a 10.5% baseline increase alongside adjustments to flight pay and bonuses for the next financial year, and then 4.5% and 4% respectively for the two years thereafter. They rejected the proposed 5.7% salary increase by FlySafair. Trade union Solidarity had accused FlySafair of refusing to accept the Commission for Conciliation, Mediation and Arbitration (CCMA) to mediate the dispute in terms of section 150…

South African conglomerate Pamodzi Capital is finally set to get its day in court over a case of alleged fraud involving its former CFO and third parties, who allegedly defrauded the company of R50 million. In a statement issued on Tuesday, the company confirmed that the matter has been set down for hearing at the Palm Ridge Commercial Crimes Court this Thursday and Friday. The hearing comes after what Pamodzi describes as “endless delays” that have plagued the case since 2021. Pamodzi, originally founded in 1979, grew into one of South Africa’s most prominent black-owned private equity firms. However, it has not been without financial difficulties, which affected it around 2008 when its now-defunct gold subsidiary was placed under provisional liquidation due to chronic instability and its inability to pay…

Maluleke says malpractice observed in Joburg is part of a broader trend across major municipalities The Auditor-General Tsakani Maluleke has drawn attention to the alarming reality of irregular expenditure within the City of Johannesburg (CoJ), revealing that the municipality was leading the nation in this regard with contracts exceeding R1 billion awarded to contractors with connections to officials. In a webinar hosted by the Centre for Development and Enterprise (CDE) Conversations, Maluleke pointed out that the malpractice observed in Johannesburg is not an isolated issue, but part of a broader trend seen across major municipalities in South Africa. However, she said a concerning aspect of this issue related to existing National Treasury regulations that allow municipalities to pay start-ups in advance for transactions not exceeding R2 000. She highlighted that…

A year on from its nadir, London’s office market recovery is gathering steam as a lack of new development and a rebound in demand for space begins to chip away at a vacancy rate that peaked at its highest this century. Prices were up 6% at the end of June from a year earlier, according to an index of transactions compiled by real estate data provider CoStar Group. The recovery began in the second half of last year as vacancy rates finally topped out at almost 11% after more than four years of virtually uninterrupted increases since the onset of the pandemic, CoStar’s data show. “Office prices are continuing to appreciate amid improved investor sentiment toward the sector and strengthening occupier demand,” said Mark Stansfield, senior director of market analytics…

Renewables have maintained their cost leadership in global power markets, a new report Renewable Power Generation Costs in 2024 released on Tuesday by the International Renewable Energy Agency (Irena) found. Renewables maintained their price advantage over fossil fuels, with cost declines driven by technological innovation, competitive supply chains, and economies of scale, the report said. In 2024, solar photovoltaics (PV) were, on average, 41% cheaper than the lowest-cost fossil fuel alternatives, while onshore wind projects were 53% cheaper. Onshore wind remained the most affordable source of new renewable electricity at $0.034/kWh, followed by solar PV at $0.043/kWh. The addition of 582 gigawatts of renewable capacity in 2024 led to significant cost savings, avoiding fossil fuel use valued at about $57 billion (R1 trillion). Notably, 91% of new renewable power projects…

The National Employers’ Association of South Africa (Neasa) on Tuesday upped its anti against Employment Equity sectoral numerical quotas and wrote an open letter to President Cyril Ramaphosa and the Minister of Employment and Labour Nomakhosazana Meth. This comes hot on the heels of Neasa and Sakekuga earlier this month lodging an urgent legal challenge against the employment equity quotas and accompanying administrative regulations. Neasa said although this challenge deals with both procedural and substantive defects relating to the new numerical sectoral quotas, another major obstacle, which has been amplified by the new quotas, stands in the way of employers even contemplating complying with these regulations. It stated that the Employment Equity regulations and the unconstitutional obligation placed upon employers to classify employees by their race and disability is ethically…