The total loss in excise taxes for the first ban was R4 billion, said the alcohol body, adding another 9-week ban would increase the potential loss to R7.2 billion. 
The organisation says the government should reconsider the ban to allow the agricultural sector to continue contributing towards economic growth.
‘This situation is absolutely devastating… We need to leave a legacy, a legacy for our daughters,’ said Rita Zwane, owner of popular shisa nyama Busy Corner.
Naspers, through Prosus, has a 31.2% stake and is the largest single shareholder in Chinese internet giant, Tencent, which owns WeChat.
Most municipalities are commercially bankrupt, with insufficient liquidity to cover operating expenses.
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Women’s month: Entrepreneur hoping for more equity
‘Way to break stereotypes is to do what you think is impossible,’ she says.
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Netherlands keen to invest in SA, says ambassador

Business News Netherlands keen to invest in SA, says ambassador

The two-way trade between South Africa and the Netherlands is estimated at R60-billion annually.

PREMIUM!
Public relations industry reeling under Covid-19 restrictions

Business News Public relations industry reeling under Covid-19 restrictions

‘The scariest part is smaller agencies are beginning to shut down or be swallowed up by bigger agencies.’

Business Huawei to stop smartphone chip production due to US sanctions

Chinese telecom giant Huawei said production of its most advanced smartphone chips would stop in September due to US sanctions, causing a “huge loss”.

Business News Reserve Bank and VBS shareholders agree on possible new banking licence

The South African Reserve Bank agreed with Chief Livhuwani Matsila and the VBS Mutual Bank shareholders’ forum on a process and criteria for a new banking license.

AVBOB takes the stand against GBV to the next level with sponsorship for helpline

As part of its recently-launched 365+ campaign, AVBOB is intensifying its fight against the brutal scourge of Gender-based Violence (GBV) by taking up the sole branded sponsorship of the TEARS Foundation’s free USSD helpline (*134*7355#).

Business News Govt still hasn’t answered us on relief funds, tavern owners cry

The council has been pleading with government to save taverns, which are 54% owned by women, and which are currently closed due to the ban on alcohol sales.

Business News Trump order targets Chinese internet stars TikTok, WeChat

Trump’s order cites a threat to “national security, foreign policy, and economy of the United States” in taking aim at the companies.

Business News Joburg mall opens drive-in cinema and diner, pandemic-style

The shopping centre is owned by JSE-listed property group Fortress REIT.

Business News Citrus exports to US set for record, fueled by Covid-19

The increased exports to the US and production will also lead to further job creation in the industry, which employs about 30 000 workers from rural communities.

Business News JSE profits increase, despite volatile market

JSE reported a 22% increase in net profit after tax to R485-million, while total revenue increased 22% to R1.32-billion.

Business News Forever 21 shuts down its three SA stores after filling for bankruptcy

The stores were located at the Nelson Mandela Square in Sandton City, Canal Walk in Cape Town and Mall of Africa in Waterfall City.

Business News Toyota warns of 64% drop in full-year net profit

Toyota reported a slump in quarterly earnings, as the coronavirus pandemic shreds the global auto market.

Business News Joburg approves R446m in property rates relief for struggling customers

The city says relief will be provided to approximately 806,959 properties.

Business US offers $10 million reward against election interference

US Secretary of State Mike Pompeo on Wednesday offered a $10 million reward aimed at preventing foreign interference in the November election, as the State Department accused Russia of waging an increasingly sophisticated disinformation campaign.





 

 


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