How once-off gains are masking financial strain at SOEs

For the PIC, the state-owned asset manager, its after-tax profit was R869.3 million, but R500.7 million came from a non-cash, mark-to-market fair-value revaluation. Without it, operating profit would …

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Home of the last steam-powered locomotive in South Africa: Durban holds a special place in the hearts of train enthusiasts, thanks to “Wesley,” the last remaining steam-powered locomotive in commercial operation in South Africa. This historical engine takes passengers on a nostalgic journey along the Umgeni Steam Railway, winding through the picturesque Valley of a Thousand Hills. This steam train ride offers a glimpse into the past and a chance to appreciate the timeless beauty of the region.