Leadership Transition at Absa Group: Chairman Sello Moloko to Step Down Absa Group has announced that Mr Sello Moloko will step down as Chairman and Independent Non-Executive Director of the Board, effective 15 July 2025. His departure marks the end of a pivotal chapter in the Group’s leadership journey, during which he helped steer the organisation through significant strategic shifts and governance milestones. Mr René van Wyk has been appointed to succeed Mr Moloko as

Finance Minister Enoch Godongwana has reached a settlement with the Democratic Alliance (DA) and the Economic Freedom Fighters (EFF) in response to their legal challenge against the national budget passed by Parliament in March. The Western Cape High Court has ruled that the fiscal framework adopted by Parliament be set aside, effectively suspending a proposed VAT increase from 15% to 15.5%, which was due to take effect on 1 May. The original budget was backed

The Absa Merchant Spend Analytics Report for February 2025 reveals a broad decline in card spending and transaction volumes, though the pace of decline has eased since January. Amid economic uncertainty, the report highlights shifting consumer behaviour, the growth of online shopping, and the resilience of South Africa’s evolving township economy. Moderation in expenditure declines points to stabilisation Consumer spending in February showed signs of stabilisation following the contraction in January. The month-on-month (MTM) fall

With unemployment stubbornly hovering around 34% and the climate crisis intensifying, South Africa stands at a pivotal crossroads. The answer to both challenges may lie in an underutilized but rapidly growing sector: green jobs. As the world shifts toward sustainability, South Africa has a prime opportunity to harness green industries to drive economic growth and environmental resilience. Green jobs span a wide spectrum — from renewable energy and green infrastructure to waste management, water conservation,

Budget Cuts Leave Provinces Struggling to Pay for Completed Housing Projects Several provinces are battling to pay suppliers for completed housing development work following significant budget cuts to key housing grants. Funds were slashed from the Human Settlements Development Grant (HSDG) and the Informal Settlements Upgrading Partnership Grant (ISUPG), which are managed by the national Department of Human Settlements. The department is responsible for ensuring full grant expenditure by the end of each financial year