Mpho Sibanyoni

3 weeks ago | sundayworld.co.za | Mpho Sibanyoni

The state needs to write off almost R100-billion debt that municipalities owe to Eskom. In addition, government should inject human resource capacity while also increasing thenational budget allocation for municipalities. Economist Duma Gqubule said this after Eskom revealed that municipal debt had ballooned to R98.5-billion in February 2025 from R74-billion in March 2024.

1 month ago | sundayworld.co.za | Mpho Sibanyoni

Figures contained in the recently released annual financial reports lay bare how most South African JSE-listed companies are perpetuating income disparities by giving obscene remuneration packages to top managers while staff members are subjected to single-digit average annual salary increases. Sunday World this week compared the salaries of Old Mutual, Standard Bank Group, Nedbank Group and MTN Group top management against the average increases of their staff.

1 month ago | sundayworld.co.za | Mpho Sibanyoni

Standard Bank deputy group chief executive Kenny Fihla has resigned, a move that Africa’s leading financial services company by total assets says will not disrupt its succession plan. This comes after Fihla, who was announced as the bank’s group deputy chief executive in August 2024, was viewed as Tshabalala’s successor. At the time, he was also promoted to Standard Bank SA CEO position after Tshabalala embarked on a massive reshuffle of his executives.

1 month ago | sundayworld.co.za | Mpho Sibanyoni

Economists have slammed Finance Minister Enoch Godongwana’s projection that the domestic economy would this year grow by 1.9% as baseless. Their criticism comes after the GDP grew by a mute 0.6% in 2024 and 0.7% in 2023. They said it would be difficult for the economic growth to leapfrog to 1.9% in such a short space of time. Godongwana, when delivering the 2025 Budget Speech, said the economy would grow by 1.9% and experience an average growth rate of 1.8% over the next three financial years.

1 month ago | sundayworld.co.za | Mpho Sibanyoni

Standard Bank Group chief executive Sim Tshabalala saw his total remuneration package in 2024 rise by 7.1% to a cool R89-million, from the R83-million he earned in 2023. Tshabalala’s income includes R11, 879 000 in fixed income and R24-million in short term incentives. These are just among other income benefits. Kenny Fihla, who was announced as the bank’s group deputy chief executive in August 2024, saw his total remuneration package decrease to R67, 292 000 from R69, 903 000 in 2023.