Edition:
United Kingdom

Alexander Winning

South Africa axes board at state nuclear firm Necsa

07 Dec 2018

PRETORIA South African Energy Minister Jeff Radebe said on Friday that the government had replaced the entire board of directors of state-run nuclear firm Necsa and suspended its chief executive over problems with how it was governed.

UPDATE 2-South Africa axes board at state nuclear firm Necsa

07 Dec 2018

* Board plans legal challenge over its removal (Adds Rosatom detail, lawyer, context)

South Africa's Eskom bonds slide on debt restructuring talk

06 Dec 2018

JOHANNESBURG South Africa's government is discussing restructuring the debt of state-run utility Eskom but will only give details of what it plans to do next year, Public Enterprises Minister Pravin Gordhan said on Thursday, in comments which sent Eskom's bonds tumbling.

South Africa's Eskom wants state to take on almost quarter of its debts

05 Dec 2018

JOHANNESBURG/LONDON South Africa's Eskom wants the government to take on 100 billion rand ($7.2 billion) of its debts, its chairman told a newspaper, suggesting the struggling state-run power firm wanted relief on almost a quarter of its borrowings.

South African arms company needs partners soon to survive, official says

29 Nov 2018

PRETORIA South Africa's defence industry is facing a crisis as the state-owned arms maker Denel struggles to survive, and rapidly agreeing equity partnerships is the only way to save it, one of the country's top defence officials told Reuters.

South African arms company needs partners soon to survive, official says

29 Nov 2018

PRETORIA, Nov 29 South Africa's defence industry is facing a crisis as the state-owned arms maker Denel struggles to survive, and rapidly agreeing equity partnerships is the only way to save it, one of the country's top defence officials told Reuters.

UPDATE 2-S.Africa's Eskom says asset sales can't solve problems as flags big loss

28 Nov 2018

* Other options include bailout, debt relief (Updates after comments by Eskom chairman)

UPDATE 2-S.Africa raises rates for first time in nearly 3 years in tight call

22 Nov 2018

PRETORIA, Nov 22 South Africa's central bank increased its benchmark lending rate for the first time in nearly three years, saying the risk of higher inflation in the longer-term remained elevated and that it could not risk waiting until later to take action.

Khashoggi killing complicates Saudi rescue bid for South African arms firm

20 Nov 2018

JOHANNESBURG Loss-making South African arms maker Denel has a problem as it fights to survive. Its potential saviour is Saudi Arabia, now drawing fierce criticism following the killing of journalist Jamal Khashoggi.

South African opposition wants payment to Ramaphosa campaign fund investigated

19 Nov 2018

JOHANNESBURG South Africa's main opposition party has called for an independent inquiry into a $36,000 payment made to a fund that financed President Cyril Ramaphosa's successful campaign for leader of the African National Congress last year.

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