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Current affairs
Gigaba staring into R40bn tax hole

Finance minister Malusi Gigaba faces a gaping budget hole — and will have to consider cutting spending, raising taxes and selling state assets if he wants to avoid further ratings downgrades. The economy he oversees is hampered by

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Digital banking fast gaining traction in SA

Investments made by banks to beef up their digital capabilities and offer clients cost-effective services appear to be paying off. Detailed figures disclosed in the financial results of four of the five largest banks in

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SA banks on offensive against political attacks

South Africa’s banks are going on the offensive after being criticised by some politicians over their lending practices and records in addressing racial inequality. Attacks on the lenders have been led by President Jacob Zuma, who’s accused them

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Bank collusion case strengthens Zuma’s hand

A finding by the South African antitrust regulator that more than a dozen local and international banks colluded to rig foreign-currency trades will bolster government accusations that the nation’s biggest lenders

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Big four banks’ dominance must end: Zuma

President Jacob Zuma said the dominance of the country’s four major banks must end and access to the economy for the black majority improved. “There’s a skewed kind of economic control,” Zuma said on Friday. “We actually frustrate our

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Banks bashed in battle over Guptas

New allegations by President Jacob Zuma’s supporters that South Africa’s biggest banks are frustrating efforts to address racial inequality signal an escalation of a battle for control of the nation’s financial system, including the treasury. Protestors from the

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Banks mull bids for Sassa contract

Three of South Africa’s biggest banks are considering bidding to distribute government welfare payments to more than 17m people as a contract with a unit of Net1 UEPS Technologies comes to an end after years of legal battles. The existing contract

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