This after the commission competition confirmed that 30 companies in various provinces were under investigation for excessive price hikes.
The MEC welcomed that the holding company have strict regulations that were aimed at ensuring Spar’s brand image.
The 21-day lockdown means Edcon is projected to lose a further R800 million in turnover, and will mean ‘an additional significant shortage of cash by the end of April’.
The AA has noted that the huge price drop is coming at a time when most South Africans won’t really be going anywhere anyway.
Participating in a virtual G20 Leaders’ Summit Meeting on Thursday, he said the G20 leaders were united in fighting the virus, saving lives and supporting economies that are under stress.
The BizPortal site will continue to run on Friday and beyond, and it is not a requirement that companies complete registration before the lockdown begins.

Business News SA’s construction industry faces disaster due to lockdown

The construction industry is very labour intensive and the lockdown is going to result in hundreds of job losses.

Business News Business owner arrested for hiking prices faces R1m fine

If found guilty, he will pay a R1 million fine or up to 10% of his annual business turnover. There is also a possibility of imprisonment for up to a year.

Business News #ImStaying launches online platform to reduce unemployment and boost small businesses

The #ImStaying Entrepreneur Movement has been set up to activate and empower entrepreneurs to build sustainable and profitable businesses.

Business News SAA acting CEO Zuks Ramasia to retire next month

The board will make an announcement in due course on an interim successor during the business rescue process.  

Business News Pick n Pay Galleria now allows customers to WhatsApp grocery lists for delivery

The store also extended trading hours on Wednesday and Thursday to allow customers to buy what they need before the lockdown.

Business News Essential service businesses required to apply for trading certificate during lockdown – Ebrahim Patel

He says such businesses were required to apply to the Companies and Intellectual Property Commission’s BizPortal website to obtain a certificate that allows them to continue trading.

Business Surviving lockdown – how will the economy look in 21 days?

While nobody can be certain just how much of a knock the economy will take, there is no doubt that it will be significant.

Business News Covid-19 lockdown regulations: No alcohol, (but maybe cigarettes), and not much of anything at all

The police minister has warned the public that if the nation does not adhere to these prescriptions, we could be heading for a state of emergency, which will be even worse.

Business News Rental tenants may need to stay put until after nationwide lockdown 

Current tenants meant to move out by 1 April can be offered a one-month extension on their lease so that they can remain in place during the lockdown, among other solutions.

Business News Old Mutual pledges R50m package towards Covid-19 crackdown

Old Mutual employees will be able to contribute to relief efforts through the staff volunteer programme.

Business News R30bn allocated to UIF benefits amid coronavirus outbreak

Employees will get a minimum wage of R3,500 a month for up to three months.

PREMIUM!
Covid-19 knocks SA economy, but there is hope

Business News Covid-19 knocks SA economy, but there is hope

The government bailout to business might not make an impact in alleviating the plight of SMMEs, one expert said.

Business AfriForum demands undertaking Covid-19 business aid will not be race-based

The department of small business development has tried to reassure the public that all businesses are being considered, but not everyone is convinced.

Business Government confirms all restaurants and takeaways will have to shut down

People planning to order KFC or pizza while binge-watching their favourite shows for the next three weeks will seemingly need a plan B.





 

 


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