VENTURE CAPITAL POST

SARS claims that clothing stores are evading the tax hikes in South Africa. Officials explained how clothing brands are possibly doing it.

South African company Pepkor Holdings reported a 3.1% fall in its half-year earnings report due to ongoing supply chain disruptions at local ports that impacted its merchandise imports, but also reported a 9.5% revenue rise compared to the similar time period last year.

Anglo American decided on abandoning its diamond, platinum, and coal operations in order to realign its operations on nickel and avoid acquisitions offered by BHP Group.

South Africa faces a significant corporate exodus, raising economic concerns. Major departures like BNP Paribas and Shell highlight regulatory instability and threatening investment.

Elon Musk's social media platform X has suspended the account of Zwelivelile Mandla Mandela, the grandson of Nelson Mandela, who is a member of South Africa's National Assembly.

A South African businessman was sentenced to 12 years in prison for shooting his wife to death after he mistook her for an intruder in their home.

After being notified of an arrest warrant against him, a former CEO of Steinhoff was found dead in what authorities suspect to be a suicide.

South Africa's return-to-office efforts get a middle finger from employees. Office-based policies are now increasing.

Cyril Ramaphosa of South Africa leads the way on attracting investors for the growth of South Africa.

South Africa is experiencing wheat shortages prompting grain importation. The increased tariff has been approved but Treasury requested the Trade and Industry sector to review it as it will affect the prices of staple food.

South Africa's energy crisis will now be answered by the launching of the largest solar farm built in Northen Cape. It could generate power that could supply electricity from renewable energy to 75,000 households yearly.

South Africa's output in the manufacturing and mining sector might not be a good sign to start the year right. More mining sites stopped their operations creating illegal mining. The president should do something as investors are skeptical on how he handles the country's economic situation.

South Africa's gold industry is degenerating along with its economy. With the shut down of many gold mines, many workers are laid off leaving them no jobs and no food. This forces them to mine illegally and make their lives in jeopardy.

South Africa’s currency has dropped to its four-year low after the news of the country’s finance minister threats of resignation was reported. Finance minister Pravin Gordhan threatens to resign over a spat with Tom Moyane, as the minister demanded the tax commissioner to be dismissed, or he himself would leave.

Property investors would face tough economic condition in South Africa due to the economic resession the country is facing. Finance Minister Pravin Gordhan is attempting to overcome this by increasing tax, that could slow down property sales in the country.