South Africa’s economy probably avoided a contraction in the second quarter, despite record power cuts.
Browsing: Absa
There has been a particularly steep decline in expected business conditions, a survey showed on Thursday.
The bank will provide up to R50-million in energy subsidies to qualifying SMEs, allowing them to finance solar installations.
PayShap, the rapid payments platform endorsed by the South African Reserve Bank, has been launched, with four banks supporting it from day one.
Absa Group said the combined impact of the worst power cuts in living memory and soaring interest rates has left SMEs and consumers at risk of default.
The company will build a utility-scale solar farm capable of generating 100MW of power after raising R11.8-billion in funds to assist with its expansion plans.
Telkom’s chairman, Sello Moloko, has resigned and will leave the board by no later than 31 March 2023.
Manufacturing activity contracted for the first time in a year in July, when South Africa experienced severe power cuts, Absa said on Monday.
Absa is making a raft of changes to its top management position to refocus its strategy towards being more customer centric.
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