Cape Town - A roundup of Wednesday's top economic and finance reads on Fin24.
Increased regulations for companies as cybercrime hits SA
As cybercrime increasingly affects South Africans, a number of new regulations locally and internationally seek to protect citizens’ information.
Following the breach of financial services group Liberty Holdings [JSE:LBH] last week and a demand for a “ransom” for the sensitive information held by the insurer, Andrew Chester, managing director of Ukuvuma Cyber Security, said this could be the first South African incident subjected to a new European data law which came into effect on May 25.
Inflation surprises on downside despite April VAT hike
Inflation eased to 4.4% for May compared to 4.5% in April, despite the implementation of a VAT hike implemented in April.
This is according to Statistics South Africa, which on Wednesday released the consumer price index figures for May. The index increased 0.2% month-on-month.
Former ConCourt judge speaks frankly about land, property ownership and how equal is SA really
The government should set out its plan for land reform and property ownership goals in very concrete terms and be real about how to achieve it, former Constitutional Court justice Zak Yacoob said on Wednesday.
“If the government had said in 1994 that each year it will reconstruct just 4% of its land reconstruction goals, the process would have been about 88% complete by now already,” he said in answer to a question.
- READ: Former ConCourt judge speaks frankly about land, property ownership and how equal is SA really
Zimbabwe slashes mobile data costs significantly as election nears
Mobile data tariffs in Zimbabwe have fallen from 12.5 cents to 5c per megabyte, with the internet expected to play a key role ahead of harmonised elections slated for July 30 this year.
But it is the data tariff cut that has been of big interest in Zimbabwe, which has an internet penetration rate of about 50%. The country’s citizens mostly access the internet using mobile gadgets, with mobile data accounting for about 90% of internet access. Facebook and WhatsApp are the most popular internet applications accessed.
THE STEINHOFF SAGA: Part one - The making of a corporate giant
In a series of in-depth features, the University of Stellenbosch Business School sheds light on Steinhoff's remarkable growth – and spectacular collapse. This is Part One: from humble beginnings in Germany to a massive global holding company.
The Steinhoff saga, possibly the biggest case of corporate fraud in South African business history, has dominated financial and general news since the company’s share price collapsed on December 5, 2017.
READ: THE STEINHOFF SAGA: Part one - The making of a corporate giant
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