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Repo rate unchanged

Consumers will breathe a sigh of relief after the South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 6.5%. Despite a stagnant economy, coupled with several external and internal factors, SARB Governor Lesetja Kganyago said, the seven member MPC had decided against …

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Ex-miners started logistics business, not by mistake

For a former gold miner, Nyadzeni Makhado, travelling behind the trucks transporting materials from his workplace to various factories was like he enrolled at a college studying for a course in logistics. The self-taught transport businessman, Makhado “graduated” in 2014 and subsequently ventured into a logistics business. Today, the black-owned …

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Amid tough economic times, Toyota outperforms July sales target

Toyota sales have, for the first time this year, surpassed the 12 000 thresholds in July to record 77 099 units year-to-date. This places the Toyota marque in the driver’s seat in terms of local vehicle sales. The total of 12 840 units sold last month comes against a backdrop …

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New vehicle sales up by 2,6%

    South Africa’s total new vehicle sales were up by 2.6% year-on-year in July, with 47 881 units sold compared to 46 671 units bought in the same period last year. According to data released today (Wednesday) by the National Association of Automobile Manufacturers of South Africa (Naamsa), the passenger vehicle …

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WesBank helps new graduates to own cars

  New university graduates who in the past could not purchase cars since they do not have a credit history can now breathe a sigh of relieving, thanks to Wesbank Graduate Finance. Executive Head of WesBank Sales and Marketing Ghana Msibi said the product offers graduates competitive interest rates, tailor-made …

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Trio’s units sales up by 5.1 percent

Renault-Nissan-Mitsubishi, the world’s largest automotive alliance, on Monday, announced that unit sales at its member companies rose 5.1 percent to a new record of 5,538,530 vehicles in the first 6 months to June 30. The three Alliance member companies saw increased demand in product segments including crossovers, sports utility vehicles, …

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Eskom posts poor financial results

Eskom has posted poor R19 billion in irregular expenditure for the 2017/18 financial year which has triggered the Portfolio Committee on Public Enterprises to request the electricity giant to Parliament to brief members on the latest financial results. The power utility released its 2017/18 financial results [July 23, 2018] in …

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Top executives to spell out challenges facing SA motor industry

Industry leaders will shed light on mammoth challenges facing local motor industry at the crucial National Association of Automobile Manufacturers of South Africa [NAAMSA] in Kyalami,  Midrand north of Johannesburg. NAAMSA is to hold this conference on August 31, organised by Messe Frankfurt South Africa in partnership with The Innovation Group. …

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Naval sponsor 2018 BRICS Summit

Haval Motors South Africa is an official sponsor [transport] for the three-day 2018 BRICS Summit which begins in Sandton Convention Centre, Johannesburg on Wednesday, July 25. The company’s Managing Director Charles Zhao has announced it will make available a fleet of its flagship Haval H6 C and H9 SUVs to …

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Repo rate unchanged at 6.5%

The Monetary Policy Committee (MPC) has unanimously decided to keep the repurchase rate unchanged at 6.5% per annum. Making the announcement on Thursday, Reserve Bank Governor Lesetja Kganyago said the MPC still sees the stance of monetary policy to be accommodative and appropriate, given the current state of the economy. …

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