Star 2025-11-04

TymeBank announced on Monday it will appoint Cheslyn Jacobs as its new chief executive effective January 1, 2026. It said it has received approval from the South African Reserve Bank’s Prudential Authority for the appointment. Jacobs succeeds Karl Westvig, who has been with the bank’s leadership since 2023 and will continue to serve in an advisory capacity to support the bank’s ongoing growth. TymeBank is currently one of the world’s fastest-growing digital banks and the first digital bank to reach profitability in Africa, with over 11 million customers since launching in February 2019. Through retail distribution partnerships, TymeBank has over 1 000 kiosks and 15 000 retail points across the country. And through its merchant cash advance product, TymeBank is also the largest SME funder of its kind in the…

Latest reading suggests manufacturing remains under pressure due to subdued domestic demand Absa Purchasing Managers’ Index (PMI) for October 2025 released on Monday raised alarm bells with the index indicating a decline in manufacturing sentiment. Absa said that the seasonally adjusted PMI declined by 1.6 points to 49.2 in October, reversing the gain seen in September when the index reached 50.8. The Index said the latest reading suggests that the manufacturing sector remains under pressure, with respondents pointing to subdued domestic demand, sluggish exports, and persistent logistical challenges as key headwinds. “On the export front, demand is also sluggish, complicated by the rise in US trade tariffs and logistical challenges. The business activity index decreased by 5 points to 49.4 in October, slipping back into contractionary territory for nine of…

The Department of Tourism said that there has been an increase of over one million visitors to South Africa from the period of January 2025 to September 2025. Minister of Tourism Patricia de Lille said these figures confirm that tourism has not only recovered but is once again driving economic growth. Tourism associations have welcomed the news. The Department said that from January to September 2025, South Africa welcomed 7 634 261 international tourists, an increase of 1 108 222 visitors compared to the same period last year. “From January to September 2025, South Africa welcomed 7 634 261 international tourists, an impressive increase of 1 108 222 visitors compared to the same period last year.” De Lille added that Tourism is proving itself a catalyst of economic growth…

The Unmanned Aerial Vehicles (UAV) or drones sector has encouraged the Department of Transport (DOT) to consider updated air traffic control legislation within cities and rural areas to allow for longer range flights in the delivery of critical goods. This is as the DOT, in its reminder to all stakeholders regarding the fast approaching closing date for comments regarding the gazetted Airfreight Strategy of South Africa acknowledged the usage of drones or UAVs in the provision of seamless services and movement of goods in the airfreight sub-sector. DOT national spokesperson Collen Msibi said the assessment revealed a critical challenge: while passenger and commercial aviation have made significant advances, the airfreight sub-sector remains relatively underdeveloped and fragmented. This limits the country’s trade and logistical capabilities, highlighting the need for a…

As South Africa prepares for its 2025 Medium-Term Budget Policy Statement, set to be unveiled on 12 November, key themes are emerging that will impact the nation’s financial landscape for years to come. Central to this fiscal discourse is an intensified focus on revenue collection, tax compliance, and sound governance reforms, all aimed at fostering sustainable economic growth. According to Itumeleng Nkadimeng, Head of Corporate Tax at KPMG South Africa, the spotlight in the upcoming budget will reside firmly on the South African Revenue Services’ (SARS) commitment to enhancing tax compliance. Nkadimeng told Business Report, "Building on a significant commitment of R7.5 billion announced previously, the government is expected to adopt a modernised approach to tax administration. This strategy will likely introduce deeper audit verifications and a stronger emphasis on…

The evolution of governance in South Africa has always carried a sense of moral purpose. Each King Code has reflected the spirit of its time, interpreting how ethical leadership, accountability and value creation should find expression in a changing world. The latest iteration continues that tradition. It is less a new chapter than a renewal of the same idea: that governance is a living practice, shaped by conscience as much as by compliance. It extends the life of King IV by deepening its wisdom. King IV reframed governance as outcomes-based and principle-driven. It moved organisations beyond mechanical adherence to rules and towards a consciousness of purpose. Over the years, the four outcomes – ethical culture, performance and value creation, conformance and prudent control, and legitimacy – have become the vocabulary…