Foot-shooting Standard Bank introduces 1.2% fee for unutilised overdrafts

Having worked in the executive of a bank for a couple years I got used to hearing complaints about the business. Most were unjustified, but occasionally a client raised something indefensible. Judged on the view expressed here by Graeme Codrington, Standard Bank’s latest move – charging a fee on unutilized overdraft facilities – falls firmly … Read more

Azar Jammine: Zuma’s contradictory messages will worry ratings agencies

As dust settles on a weekend when Jacob Zuma was inaugurated as South Africa’s President and appointed his Ministers and their Deputies (71 in all – 28% of the ANC’s total MPs) concerns are already starting to emerge. Azar Jammine, chief economist at Econometrix an independent economic research company, worries that Zuma is sending all … Read more

Michael Cassidy: Questions to ask before voting in May 2014

With South Africa’s most important General Election less than three weeks away, vote catching season is in full swing. Politicians are making all kinds of promises that they – and we – know cannot be fulfilled. Some veterans of the ruling party are so disgusted by the JZ’s rule that they’re urging us all to … Read more

Du Plessis: New political era dawning – ANC’s future Opposition is a Labour Party

To understand the present, read history. Trade union Solidarity’s General Secretary Gideon du Plessis helps us to cut through the noise and confusion in this excellent blog where he traces the roots of the current labour chaos and reaches logical conclusions. Including how unionised workers are tiring of their leaders’ motives, and seeing their political … Read more

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Dysfunctional Eskom blown it with “acting” CEO – Redelinghuys

I got a jolt in yesterday’s interview with Leon Louw of the Free Market Foundation. During our discussion, this deep thinker and forthright speaker described Eskom as “probably the second-biggest tragedy in South Africa after Apartheid itself.” And went on to quote research conducted by economist Dawie Roodt which concluded that with a properly run … Read more

Gareth Cliff

Gareth Cliff to ANC: Seven ways to fix SA. A Classic.

Shortly after we listed Moneyweb in 1999, a trio of bright young things came to talk about working with us. They had an idea for a youth-focused website and needed funding. I liked them very much, personally and as potential partners . But my colleagues were put off by their confidence (arrogance?). I wasn’t able … Read more

Sibusiso Mkwanazi: I will stand up for President Zuma

South African President Jacob Zuma has been pilloried in the media for his “get stuffed” attitude towards criticism around the hundreds of millions of taxpayer’s money spent upgrading his private homestead in rural KZN. Most outspoken of the critics point out Zuma already has the use of Presidential mansions in Cape Town and Pretoria (the … Read more