SA Money Daily | Amid SA port meltdown, questions remain over the regulator's CEO

As Starlink shutoff looms for South Africans, companies aren't giving up hope

View Online SA Money Daily The biggest business, economic and market news of the day. AHMED AREFF, BUSINESS DEPUTY EDITOR Amid SA port meltdown, questions remain over the regulator's CEO The Ports Regulator of South Africa and the Department of Transport are unable to explain the status of the regulator's chief executive officer eight months after its board terminated her employment contract.   The dismissal in August 2023 followed a forensic investigation that found Mukondeleli Johanna Mulaudzi was unable to perform her duties, had contravened the Public Finance Management Act (PFMA), and bullied staff.   This led to the board, the management team and staff all declaring a breakdown in their relationship of trust with the chief executive. For her part, Mulaudzi also told investigators and the CCMA she did not trust the board, executive management and the staff of the regulator.   Mulaudzi remains in office, but the conditions of her continued employment remain hidden from the shipping industry and the public. Read More COMPANIES Wage deadlock broken after SABC agrees to 6% increase Following months of negotiations and union strike threats, the SABC has said it would implement a 6% wage increase for its workers. As Starlink shutoff looms for South Africans, companies aren't giving up hope While Starlink has promised to cut off its services to South Africa at the end of this month, service providers haven't given up hope and think there might be workarounds to continue operating. Rates may remain unchanged for longer than expected, says Reserve Bank South Africa's path to lower inflation has become less certain and is being "frustrated" by elevated food prices and volatile energy costs, the central bank cautioned on Tuesday, warning rates may be kept higher for longer than previously expected. Sasol suffers shock slump as it warns of 'operational instability' Sasol shares fell the most in more than a year after the synthetic fuel and chemical maker reported issues throughout its South African operations. Ramaphosa wants more business backing for employee ownership schemes President Cyril Ramaphosa said on Tuesday employee share ownership schemes had come a long way since the early days of empowerment 20 years ago, with more than a half a million workers now part owners of companies in SA. Buoyant Capitec eyes European banking licence, and it's adding more branches in SA CEO Gerrie Fourie says he's "very excited" about the buyout of AvaFin, which operates in five markets and would allow Capitec to "slowly but surely" diversify internationally. As Komatipoort locals report fish coming out of taps, court orders municipality to fix water crisis The Komatipoort Despondent Residents' Association was so aggrieved by its municipality's inaction that it asked a court to imprison its municipal manager for three months if they did not speedily fix the mess. DOWNLOAD THE NEWS24 APP CONNECT WITH US

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