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Ramaphosa Wins Most Endorsements In S. Africa’s ANC Campaign

Ramaphosa Wins Most Endorsements In S. Africa’s ANC Campaign

South African Deputy President Cyril Ramaphosa won endorsement from most African National Congress branches to succeed President Jacob Zuma as ruling party leader, giving him an edge — but not a guarantee of victory — in this month’s election. Ramaphosa was nominated for the presidency of the ANC by 1,860 branches, while 1,330 backed his main rival Nkosazana […]

To Avoid Chaos In The Election,We Must Tread Carefully – Analysts

To Avoid Chaos In The Election,We Must Tread Carefully – Analysts

  Court challenges, allegations of vote rigging and outbreaks of violence — South Africa’s ruling party is in disarray less than three weeks before it’s scheduled to choose a new leader to replace President Jacob Zuma. The struggle for power has spawned such disorder that some analysts question whether the African National Congress can hold […]

S&P Cuts South Africa Debt Rating, Moody’s Issues Warning

S&P Cuts South Africa Debt Rating, Moody’s Issues Warning

S&P Global Ratings cut South Africa’s local-currency debt score to junk on Friday, while Moody’s Investors Service also threatened to slash its ranking to the same level, raising the risk of a selloff from global indexes. S&P lowered the country’s local-currency rating one step to BB+, one level below investment grade, and placed it on […]

South Africa Eyes BRICS Partners To Build New $10 Billion Refinery

South Africa Eyes BRICS Partners To Build New $10 Billion Refinery

South Africa wants the national oil companies of its BRICS partners to help build a new 400,000 barrel per day refinery that will be structured by senior debt and equity, energy minister David Mahlobo said on Tuesday.   The idea of building a refinery in Africa’s most industrialised economy has been under consideration for almost […]

South Africa’s Debt Costs Leap on Record 3.3 Billion-Rand Sale

South Africa’s Debt Costs Leap on Record 3.3 Billion-Rand Sale

South Africa’s embattled Treasury had no trouble selling a record amount of debt at its weekly fixed-rate auction Tuesday — but at a cost. Primary dealers placed orders for more than three times the amount of debt on sale, snapping up yields as much as 75 basis points higher than were available two months ago. The […]

Manana To Pay R100 000 or Face 12 Months In Jail

Manana To Pay R100 000 or Face 12 Months In Jail

The Randburg Magistrate’s Court on Monday ordered former Deputy Minister of Higher Education and Training Mduduzi Manana to pay R100 000 fine or face 12 months in jail. He was also ordered to complete 500 hours of community service and to complete a rehabilitation program. On September 13, Manana was convicted of three counts of […]

Zuma Says He Has No Plans To Announce Free Education Programme

Zuma  Says He Has No Plans To Announce Free Education Programme

South Africa’s President Jacob Zuma has no plans to announce a programme for free higher education until he reviews the report of a commission studying the feasibility of such a programme, his office said in a statement on Sunday. The rand slipped to a one-year low on Friday amid reports Zuma was preparing to introduce […]

Opposition MPs Walk Out On South Africa’s Zuma Over Corruption

Opposition MPs Walk Out On South Africa’s Zuma Over Corruption

Jacob Zuma told South Africa’s parliament on Thursday he had received no payments from private companies or individuals during his time as president, as opposition lawmakers walked out in protest over the cost to the state of his legal fees. Allegations by government and opposition politicians that the wealthy Gupta family of businessmen used a […]

South Africa’s Rand, Bond Add To Losses On Budget Shock

South Africa’s Rand, Bond Add To Losses On Budget Shock

South Africa’s rand extended losses in early deals on Thursday, a day after Finance Minister Malusi Gigaba flagged weaker growth expectations and rising government debt in his budget speech.   At 0624 GMT, the rand traded at 14.1600 versus the dollar, 0.73 percent weaker from its New York close on overnight. Gigaba said in his […]

Perturbed and Angry’ Makhura Appoints Team To Tackle School Sex Assault

Perturbed and Angry’ Makhura Appoints Team To Tackle School Sex Assault

Gauteng Premier David Makhura has appointed a Special Committee of the Executive Council aimed at improving school safety, educating learners and empowering them to break the silence on sexual abuse and assault. The committee includes provincial Education MEC, Panyaza Lesufi, Community Safety MEC Sizakhele Nkosi-Malobane and Social Development MEC Nandi Mayathula-Khoza. Over the next few […]

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