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Power tariff set to rise to 128c/kWh in 2021 after Eskom wins Nersa battle over R69bn equity injection
By: Terence Creamer In a scathing judgment made on July 28, the court declared as illegal the National Energy Regulator of South Africa’s (Nersa’s) decision to deduct a R69-billion equity injection into Eskom from its allowable revenue for the period 2019/20 to 2021/22 and has instructed that the full amount be added back to the…
Nedbank – Ratings Actions November 2017
Key points S&P Global has downgraded the South African long‐term local currency sovereign credit rating to subinvestment grade BB+ (stable outlook) from BBB‐ and the long‐term foreign currency sovereign credit rating to BB (stable outlook) from BB‐. This followed the earlier foreign currency debt downgrade to junk status in April. Moody’s has left its equivalent…
SARS Large Business Centre (LBC) Moving to new premises
Please note the attached correspondence from SARS regarding the relocation of the SARS Large Business Centre (LBC).
Be Careful When Assessing Who To Retrench
The most common criterion used when deciding who to retrench is last-in-first-out. Employers are allowed by law to use the retention of necessary skills as a criterion. However, proving that the application of this criterion was fair is very complex. This has caused many an employer to lose in court. For example, in the case…
Portuguese Trade Mission – Invitation to Networking Business Session
The GGDA (Gauteng Growth and Development Agency) in collaboration with CCILSA (The Portuguese South African Chamber of Commerce and Industry) invites CEOs in the ICT, Agro-processing , legal, financial and creative industries to attend a networking business session on 9th May 2017 at 12h00. Please RSVP by Monday 8th May.
#LightSARed on Wednesday 5th August
CODE RED – The Festival, Club and Entertainment Scene is dying! On 5 August 2020, the South African technical production and live events industry, under the LightSARed movement, will light various parts of South Africa red, in order to highlight the crippling implications the lockdown has had on the industry after 5 months of no…