Liquor group Distell says SA’s prohibition on liquor sales cost it an estimated R4.3bn in lost revenue during its year to end-June, when volumes fell more than a fifth. Group profit just more than halved to R394.6m, with Distell saying volumes in SA fell a quarter, with the restrictions on sales having a spillover effect on the rest of the region. The group had managed to fulfil only 54% of […]
National Treasury says a judicial commission of inquiry will be established to look at the root causes of the revenue gap. This after global ratings agency Standard & Poor’s Global Ratings downgraded South Africa’s currency to junk status. The move will make it costly and difficult for the country to raise debt in local currency. The decision saw the rand shedding 25 cents to the US dollar. Another rating agency […]
VOC became the first Muslim radio station in South Africa when a special events license was granted to the station in Ramadan/January 1995. Subsequent temporary broadcast licenses were granted, permitting the station to broadcast for 24 hours.
