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Most recent Articles posted

Banxso’s link to the Banc de Binary scam unpacked

The Cape Town-based trading platform Banxso has strong links to one of the world’s largest international binary options scams operating between 2010 and 2017.

MultiChoice accepts Canal+'s 'fair' offer

Standard Bank, roped in as an independent expert to consider French media giant Canal+'s R125 per share offer for MultiChoice, has determined the offer is fair and reasonable.

Retail giant Pick n Pay ‘technically insolvent’

Pick n Pay is technically insolvent and has breached all its debt covenants, which shows the retailer is in serious financial trouble.

Developer forced into share sale agreement

Michael Georgiou, a non-executive director at JSE-listed Accelerate Property Fund, was forced into a share sale earlier this month which saw 107m shares in the group disposed of.

Binance fights minority partner in SA court

Binance Digital Ltd – the world’s largest cryptocurrency exchange in terms of daily trading volumes – has been hauled to court in SA to thwart its attempt to force a business partner into arbitration which would keep its business conduct out of public attention, says a Daily Maverick report. 

Telkom shareholders approve Swiftnet sale

Telkom shareholders have approved a deal that will see SA’s largest fixed line operator selling its masts and towers portfolio.

Steinhoff executive jailed in Germany

A former business associate of the late Steinhoff boss Markus Jooste has been sentenced to six years in jail in Germany on 20 counts of tax evasion.

Thebe Investment addresses Shell exit

Thebe Investment Corporation yesterday said it pulled out of its involvement with Shell two years, ago but there is a dispute between the parties about the value of shares sold back to the petroleum giant.

Grave concerns over Shell’s planned departure

Chairperson of the Portfolio Committee on Mineral Resources & Energy, Sahlulele Luzipo, yesterday said Shell’s decision to divest from SA is a matter of concern and is not ideal as it comes at the end of their term.

Bid to deny fees to business rescuer fails

Business rescue practitioner (BRP) Herman Bester has successfully defended a court bid to forfeit his fees. The Western Cape High Court found that there was no basis for the claims of gross negligence.

Real estate agents in BEE cross-hairs

More than 40% of the country’s real estate agencies and nearly half of the 40 000 registered real estate agents’ operations could be disrupted due to the government’s latest BEE requirements that it is enforcing on the private sector.

Franchise code punts alternative dispute resolutions

While the franchise sector has the advantage of using an established model backed by a record of success, it has faced a series of setbacks, with load shedding, increased fuel prices and interest rates, a weaker rand and Covid-19 all taking their toll.

RCL reveals plan to unbundle Rainbow Chicken

RCL Foods, which is controlled by Johann Rupert’s Remgro, has taken its first specific steps to unbundle its Rainbow Chicken division, flagging a plan to list it separately, reports Fin24.

'Fake qualifications’ boss throws in the towel

Langalezwe Madonko, the central figure in a fake qualification controversy at private equity company Summit Africa, has resigned from his senior position at a black industry body, reports Fin24.

Another twist in the ‘Please Call Me’ saga

If Nkosana Makate invented the Please Call Me service, the subject of the ongoing 15-year-old court case between him and Vodacom, where is his patent? Or even his application for one?

SA company wins R8bn platinum mine fight

The Gauteng High Court (Pretoria) has thwarted attempts by a Chinese-owned company to claim mineral rights in Limpopo worth billions of rands.

Car dealership cybercrime appeal upheld

Cybercrime was once again the topic of a legal wrangle, this time between two car sale companies, with the one who bought two bakkies from the other, only to discover after delivery of the vehicles that cybercriminals had intercepted the electronic payment made for the vehicles.

Sekunjalo accounts will remain open

In what The Star calls an undertaking that ‘popped out of the woodwork at 4pm’ in the Western Cape High Court yesterday, lawyers for Standard Bank said the bank accounts of the Sekunjalo Group of companies would remain open even if an interim interdict against the bank was not upheld.

Libyan fund takes on Legacy Hotels in hostile bid

A R1.2trn Libyan sovereign wealth fund has launched a hostile takeover bid for one of SA’s premier hospitality groups, Legacy Hotels, following a bitter boardroom fallout, putting a multi-billion-rand property portfolio at stake with implications for funders.

SIU recovers R700m NSFAS funds

The Special Investigating Unit (SIU) probe into the troubled National Student Financial Aid Scheme (NSFAS) has led to recoveries to the tune of more than R700m, reports News24.

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