CAPE TOWN: South Africa may have a new finance minister soon following the replacement of its president, but whoever replaces Malusi Gigaba will still face a 50.8 billion-rand ($4.4 billion) hole in the nation’s finances. With growth in Africa’s most-industrialized economy lagging that of peers after its second recession in less than a decade, tax collections have dwindled. That’s intensified the difficulty faced by Gigaba at the National Treasury in striking the balance between finding more revenue and not choking off the country’s fragile recovery.
Toyota SA to invest over R4 billion in car assembly and parts
Toyota SA Motors (TSAM) has announced a R4.28bn investment in local vehicle assembly and parts supply. Speaking at the company’s...