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Olivia Kumwenda-Mtambo

Recession-bound South Africa sees wider budget deficits, low growth; rand dips

24 Oct 2018

CAPE TOWN South Africa predicted wider budget deficits and cut growth forecasts in a bleak budget on Wednesday that focused spending on infrastructure, manufacturing and agriculture to boost the recession-bound economy.

Ex-central banker Mboweni takes on South Africa's hobbling economy

10 Oct 2018

JOHANNESBURG, Oct 10 South African markets rallied after the appointment of former central banker Tito Mboweni as finance minister, an ANC insider and ally of President Cyril Ramaphosa expected to focus on wooing investors and reviving an economy in recession.

South African president's office says 'not aware' of Nene request to be sacked

08 Oct 2018

JOHANNESBURG South Africa's President Cyril Ramaphosa's spokeswoman said on Monday his office was not aware of Finance Minister Nhlanhla Nene's request to be relieved of his duties after he admitted to visiting the Gupta brothers.

South African finance minister says he deeply regrets Gupta meetings

05 Oct 2018

JOHANNESBURG South Africa's Finance Minister Nhlanhla Nene apologised on Friday for visiting the home of the Gupta brothers - friends of scandal-plagued former leader Jacob Zuma - as pressure mounts on one of President Cyril Ramaphosa's key allies.

UPDATE 2-S.Africa's Ramaphosa announces plan to reduce sky-high unemployment

04 Oct 2018

* Hampered by ANC infighting, fiscal constraints (Adds detail, context)

South Africa to relax visa rules to boost investment, tourism

25 Sep 2018

PRETORIA South Africa will ease some immigration rules, including agreeing visa waiver agreements with more countries, in an effort to boost investment and tourism, Home Affairs Minister Malusi Gigaba said on Tuesday.

South Africa's Ramaphosa outlines stimulus plan for ailing economy

21 Sep 2018

PRETORIA South Africa's president announced a multi-billion-dollar stimulus programme on Friday, earmarking funds for job creation and infrastructure development as he seeks to make good on a pledge to revive the country's ailing economy. | Video

UPDATE 4-Split South African central bank holds rates, exposing wider tensions

20 Sep 2018

* Bank cuts 2018 growth forecast to 0.7 pct (Recasts, adds ANC retracting comments on monetary policy)

IMF supports South African land reform provided it's 'rules based'

30 Aug 2018

PRETORIA The International Monetary Fund gave its full backing to South Africa's land reform plan on Thursday, as long as the highly contentious process is transparent and based on the constitution.

Leftists rattle rand with plan to nationalize South Africa's central bank

17 Aug 2018

JOHANNESBURG/CAPE TOWN Opposition firebrand Julius Malema introduced a bill to nationalize South Africa's central bank, putting pressure on the ruling ANC to go through with a plan it shelved this year and rattling markets wary of threats to the bank's independence.

World News

Trump says U.S. may not impose more tariffs on China

U.S. President Donald Trump said on Friday that he may not impose more tariffs on Chinese goods after Beijing sent the United States a list of measures it was willing to take to resolve trade tensions, although he added it was unacceptable that some major items were omitted from the list.