The South African Revenue Service has enlisted the services of third-party debt collectors to help it collect long-outstanding debt owed by taxpayers. The collectors will focus on tax owed that is older than five years, where no payments or payment arrangements have been made with the service. Their services kicked in at the end of October. SARS said that taxpayers should “kindly note” that it is a criminal offence to submit a return without making

FirstRand leadership changes demonstrate deep pools of management talent and benefits of multi-year succession planning FirstRand Limited today announced new internal management appointments, all of which are effective from 1 April 2024. Alan Pullinger will step down as group chief executive officer (CEO) and will be succeeded by Mary Vilakazi, currently group chief operating officer (COO). Mr Pullinger leaves a long and successful career at FirstRand, spanning 26 years, including the role of RMB CEO

The South African Post Office (SAPO) swung from a strong balance sheet to hopelessly insolvent within four years after former CEO Mark Barnes left. Last month, the SAPO Business Rescue Practitioners (BRPs), Anoosh Rooplal and Juanito Damons, revealed that SAPO’s liabilities reached R12.5 billion. With only R4.5 billion in assets, the Post Office is technically insolvent with negative equity of R7.9 billion. Simply put, it does not have enough money to pay its debts. The

Famous Brands expects a substantial drop in earnings for the six months ended 31 August 2023 (H1 2024). The group is the franchisor for Steers, Debonairs, Wimpy, Mugg & Bean, FishAways, Mythos, Turn n Tender and many more. In a trading update for H1 2024, the group said it continued to see an improvement in its revenue performance, primarily due to further improvements across its value chain. “However, the high levels of sustained load shedding, related

The South African Post Office’s (SAPO) liabilities exceed its assets by R7.9 billion, meaning it is hopelessly insolvent and will need tremendous assistance to survive. Last week, the SAPO Business Rescue Practitioners (BRPs), Anoosh Rooplal and Juanito Damons, revealed that SAPO’s liabilities reached R12.5 billion. With only R4.5 billion in assets, the Post Office is technically insolvent with negative equity of R7.9 billion. The BRPs said turning the company around and returning it to a