The average April cash withdrawal value increased by 4.03% month on month to R435.47, according to the latest Spark Cash Index (SCI), which measures the average value of cash withdrawals across more than 1,500 Spark ATMs throughout the country.

This is the highest average cash withdrawal value in the history of the SCI for the month of April, and was boosted by a host of public, school and religious holidays.

The SCI also revealed a year-on-year increase of 3.02% in ATM withdrawal activity for April 2012.

Marc Sternberg, MD of Spark ATM Systems said that it was also the highest average withdrawal value in six years for any month, with the exclusion of the December months, which suggested that consumers increased their spending during their time off from work in April.   read more….

Between R60 to R89 billion would need to be invested to build a telecommunications broadband network throughout the country and to reduce connectivity costs, says Communications Minister Dina Pule.

Speaking at a press conference following her delivery of the communications budget vote speech in Parliament on Tuesday, Pule said that was the major reason why communications had to have a prime seat on the Presidential Infrastructure Co-ordinating Commission.  read more….

Structural changes in the global economy could position Africa as a significant player, Deputy President Kgalema Motlanthe said on Wednesday.

“The demand for Africa’s natural resources, particularly from emerging economies in the south, offers renewed opportunities for Africa’s developmental prospects,” he said in a speech prepared for delivery at the Council on Foreign Relations in Berlin, Germany. read more…

Shares of South African gold miners fall on Wednesday as the spot price wilts to a 4-month low, pressured by a weaker euro and worries about political upheaval in Greece.

At 10:50 SA time, world No. 4 producer Gold Fields was 1.79 percent down to 97.82 rand, making it the biggest loser among the bourse’s Top 40 index , which was 0.18 percent lower.

Africa’s top producer AngloGold Ashanti was down 1.06 percent while Harmony Gold, which earlier reported better-than-expected quarterly earnings because of a deferred tax credit, was 0.49 percent lower.

Spot gold was at $1,583.96 an ounce, a level unseen since early January, extending a 2-percent slide from the previous session. Article

Mr Price Weekend, Truworths and Edgars Active all opened today (26 April 2012) in the iconic Pan Africa Shopping Centre in Alexandra, north of Johannesburg, as its new expansion launched to customers.

Only three years after its successful opening in 2009, this shopping centre is expanding in response to demand from both shoppers and retailers.

Bandile Nyembe, Pan Africa Shopping Centre Manager, says the new expansion creates increased retail variety which will go even further to meet the consumer needs of Alexandra residents, and everyone who shops at this commuter retail centre. “We’re proud to give customers even more choice, value and one-stop shopping,” reports Nyembe.

The Tshwane Metropolitan Municipality says it will continue with the process of changing street names following the ruling by the Northern Gauteng High Court in favour of the city allowing it to continue with street name changes.

The ruling on Monday followed a bid by Afriforum to have an interdict granted against the city changing certain street names.

The city, which welcomed the court ruling, said it would continue with the process of changing 28 street names. It had already started the process.

Read More

Woolworths, a food and clothing retailer, opened its first supermarket as it seeks to take on Shoprite Holdings and Pick n Pay Stores for customers that shop weekly.

The expansion comes three days after Pick n Pay, usually associated with supermarkets, announced plans to convert 120 BP Express stores in gas-station forecourts into its own outlets over the next five years. Pick n Pay, based in Cape Town, last year opened a store aimed at high-income earners on the same Johannesburg road where the new Woolworths supermarket is situated.

“Woolworths is moving toward the bigger store model to try and gain market share at a time when Pick n Pay is weak,” Avior Research retail analyst Michael McLeod said in an e-mailed response.

read more

A new government agency to fund small businesses was launched in Cape Town on Monday.

The Small Enterprise Finance Agency (Sefa) would focus on small scale manufacturing, agro processing, services in infrastructure development, mining services, the green economy and tourism, said Economic Development Minister Ebrahim Patel.

It would be a wholly-owned entity of the Industrial Development Corporation (IDC).

“The rationale for the new agency is to tap into the resources of the IDC to provide a better service to small business,” Patel said at Sefa’s launch.

Sefa was formed from an merger of three public organisations, Kula Enterprises, the SA Microfinance Apex Fund and the IDC’s Small Business Levy Book.

read more…