UIF recovers R2bn in wrong TERS payments
The Unemployment Insurance Fund (UIF) had recovered more than R2 billion that was inappropriately paid out last year in the fund’s Temporary Employer-Employee Relief Scheme (TERS).
SA gets new power producers
Government has approved eight preferred independent power producers to produce 1 845 MW additional electricity to support Eskom. The companies, which will provide power generated by solar energy, wind, liquified natural gas and battery storage, are: ACWA Power Project, Karpowership SA Coega, Karpowership SA Richards Bay, Karpowership SA Saldanha, Mulilo Total Coega, Mulilo Total Hydra Storage, Oya Energy Hybrid Facility, and Umoyilanga Energy.
ARC Investments reports fall in net asset value
The investment fund African Rainbow Capital Investments, controlled by Patrice Motsepe and incorporated in Mauritius, has reported a 8% fall in its IFRS Net Asset Value (NAV) from June to December last year.
ARC Investments owns stakes in Alexander Forbes, TymeBank and Rain. TymeBank had onboarded 2.66 million customers at 31 December 2020, with approximately 50% of customers actively using their accounts.
Exxaro revenue up 12%
Exxaro reports its results for the year, with revenue up 12% to R28.9 billion, but headline profit down 2%. Overall coal output rose 4%.
Healthcare workers represent 60% of Discovery’s Covid claims
Discovery Life has paid out a total of R1.5 billion in Covid-19-related claims to date. While healthcare workers made up just 4.9% of Discovery Life clients, they accounted for 60% of all Covid-19-related claims, Fin24 reports.
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