Has the ANC been so reliant on dubious funding that when this started to dry due to the Party Political Funding Act, it's been as devastating as it claims?
Political parties bankrolled handsomely ahead of the local government elections iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.
British bookmaker has reportedly paid in the region of $8.7 million in order to gain a significant foothold in the South African online sportsbetting market.
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JSE-listed MAS Real Estate is planning around â¬600m (close to R11bn) worth of projects in Europe. 00:01
MAS Real Estate s new Dambovita Mall in Romania opened its doors last August in the middle of the pandemic. Image: Supplied
Covid-19 uncertainty has led to MAS Real Estate deciding not to pay out dividends for its half-year to the end of December 2020, but has not halted the groupâs ambitious expansion drive in Europe.
âMAS is fully committed to its â¬600 million [close to R11 billion] development pipeline in the CEE [Central and Eastern Europe] region,â group CEO Martin Slabbert told Moneyweb on Friday, following the release of its latest interim results.
Phumelela payments to creditors reach ZAR208.3m
1st February 2021
| By Daniel O Boyle
South African horse racing operator Phumelela, which is in the process of being wound up, has paid ZAR208.3m (£40.6m/€46.0m/$55.5m) to its creditors, according to the latest update from business rescue practitioner John Evans.
The business was placed in was placed in business rescue – a form of bankruptcy protection – in May.
Under the plan, all of Phumelela’s assets were put up for sale, with net proceeds used to repay creditors.
The operator has paid ZAR111.9m to secured creditors Investec and Rand Merchant Bank. A further ZAR14.2m was paid to unsecured creditors, and ZAR82.3m in post-commencement finance to Mary Oppenheimer Daughters, which acquired Phumelela as part of the business rescue plan.