Business

The South African Reserve Bank has cut the repo rate by 25 basis points to 7.75% at its final Monetary Policy Committee meeting of the year on Thursday.

SARS is engaging with the Financial Sector Conduct Authority (FSCA) regarding the provision of information on registered Crypto Asset Service Providers (CASPs) and will receive information directly from the local exchanges.

The Civil Aviation Authority is concluding an investigation into alleged improper and fraudulent conduct by Dr. Nonhlanhla Sishaba, a former senior medical examiner.

SACCI said the advent and outcome of the national and provincial elections has had a notable effect on business confidence.

NMB Chamber launched its Local Economy Reinvention Think Tank on Friday, capping two days of events that aimed to showcase the Metro as the “Bay of Opportunity.”

NMB Chamber concludes MOU with the Consumer Goods Council to promote collaboration and synergy between the two entities.

NMB is seen as an automotive hub for global giant Stellantis to build vehicles for export into the rest of Africa and the Middle East.

To turn around Pick n Pay and restore profitability, the group will shut 35 stores and convert another roughly 70 to the mass-market Boxer brand (in areas where this makes sense) or to PnP franchise operators. In total, more than 100 stores will be converted or closed.