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Mfuneko Toyana

UPDATE 1-S.Africa keeps rates on hold as inflation risks balanced

21 Nov 2019

PRETORIA, Nov 21 South Africa's central bank kept its repo rate unchanged at 6.5% in a close decision on Thursday, saying it wanted to see inflation expectations closer to the midpoint of its target range, despite a sustained drop in headline inflation.

South Africa's SAA cancels flights as employees plan strike over wages

14 Nov 2019

JOHANNESBURG South African Airways (SAA) has canceled flights scheduled for Friday and Saturday because of a pending strike by a majority of employees over a wage dispute and the state-run carrier's plans to cut jobs. | Video

UPDATE 4-S.Africa's SAA cancels flights as employees plan strike over wages

14 Nov 2019

* Unions say strike indefinite (Updates with union comments after meeting)

South Africa's Ramaphosa cheers $24 billion more for investment drive

06 Nov 2019

JOHANNESBURG South African President Cyril Ramaphosa secured around 360 billion rand ($24 billion) of investment pledges from businesses on Wednesday, saying these would spur economic growth and reduce unemployment.

South Africa's Ramaphosa gets $13.5 bln of investment pledges at summit

06 Nov 2019

JOHANNESBURG, Nov 6 South African President Cyril Ramaphosa secured about 200 billion rand ($13.5 billion) of investment pledges, mainly from domestic companies, on Wednesday as part of his drive to boost flagging economic growth.

UPDATE 2-South Africa braces for bleak Moody's review after budget bombshell

31 Oct 2019

CAPE TOWN, Oct 31 South Africa's government was bracing for an unfavourable review of the country's final investment grade credit rating on Friday, bringing an exodus of foreign money from an already debt-riddled economy a step closer.

South African tax agency probing VAT and customs fraud

31 Oct 2019

CAPE TOWN South Africa is investigating criminal syndicates operating in the scrap metal, fuel and gold industries and responsible for value-added tax (VAT) and customs fraud estimated at "tens of billions of rand" a year, the tax commissioner said on Thursday.

UPDATE 2-South Africa sees budget deficit and debt soaring as economy flags

30 Oct 2019

* Gross debt seen rising, Mboweni warns of debt trap (Adds more details, analysts comments)

Market upbeat as Angola central bank lifts reserve ratio, drops FX fix

24 Oct 2019

JOHANNESBURG, Oct 24 Angola's central bank has raised the rate of cash commercial lenders are required to hold in reserve, a move to ease inflation and stabilise the currency that was welcomed by analysts and markets.

South Africa's investment-grade rating depends on pace of reform - Moody's

10 Sep 2019

JOHANNESBURG South Africa is unlikely to suffer a credit downgrade to junk in the short term, but the slow pace of reform illustrated by a logjam over ailing state power firm Eskom poses a serious risk, ratings firm Moody's said on Tuesday.

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