Chery is now South Africa's sixth-biggest car brand, and one model does almost all of the selling
The Tiggo 4 accounts for roughly four out of every five Cherys sold here, and the brand has just added a R569 900 seven-seater to the range.
Business Bagel News
Daily news from the Business Bagel desk — the markets, money and company stories shaping South Africa, reported fast and kept clear.
Prudential is selling out of South Africa's biggest retirement administrator, and Patrice Motsepe's firm is buying the gap
An American insurer is leaving, Alexforbes is buying back close to a third of itself, and one shareholder ends up holding more than three-quarters of the company.
One South African insurer now has five businesses in the billion-rand club
Normalised headline earnings rose 13% to R7.06 billion for the year to June, clearing the Impact strategy's target twelve months ahead of plan, with five business units each earning more than a billion rand.
Big story
The US raised interest rates, and South Africa’s response could impact your loans
The Federal Open Market Committee lifted American rates a quarter point on Wednesday, six days before South Africa's own rate-setters meet with a survey in front of them that was taken before any of it happened.
South Africa named its green hydrogen projects, but most still have a long way to go
Six projects were named as the first wave of South Africa's national green hydrogen programme, and only the Saldanha Bay aviation fuel plant has taken a final investment decision.
Crypto companies spent hundreds of millions on a US bill the Senate refused to debate
The Senate refused to open debate on the Clarity Act on Tuesday, leaving the crypto industry without the federal rulebook it has spent the election cycle paying for.
The economy shrank last quarter, but money through SA’s payment system is rising
PayInc's index of the real value of money moving through South Africa's electronic payment system rose 0.8% in August, a second straight monthly gain, six days before the Reserve Bank decides on interest rates.
African Bank confirmed retrenchments days after its finance chief abruptly resigned
African Bank filled four executive seats and confirmed a Section 189A retrenchment process on the same day, five days after its chief financial officer walked out and six months after its chief executive did.
The rand hit its weakest level in weeks this week, and almost none of it was South Africa's doing
Brent crude near a four-month peak and the US 10-year Treasury yield at its highest since 2007 took the rand to R16.34 on Monday, its weakest since the first week of August.
A company that owed PetroSA R825 million last year is now trying to have it liquidated
Nako Energy has asked the courts to liquidate PetroSA over R605.5 million it says the state oil company acknowledged owing in May 2025, a year after PetroSA sold it a diesel cargo it could not pay for.
Big story
Why does every big South African company suddenly want to be a bank?
Five of South Africa's biggest companies are moving into banking at once, and deposits, not banking fees, are what they are actually after.
Editor’s pick
Starship has flown for three years without earning a cent, and that changes on Tuesday
Starship's fourteenth flight carries 26 third-generation Starlink satellites, aims for orbit for the first time in thirteen attempts, and would be the first launch to earn SpaceX's launch division anything.