Edition:
United Kingdom

Olivia Kumwenda-Mtambo

South Africa's Eskom evaluating bids for mortgage business

14 Dec 2018

JOHANNESBURG South Africa's cash-strapped power utility Eskom is evaluating bids for its mortgage lending business, a spokesman said on Friday, as the company works to shore up its balance sheet against a backdrop of operational woes.

UPDATE 2-South Africa's Eskom evaluating bids for mortgage business

14 Dec 2018

* Ramaphosa appoints task team to advise government on Eskom (Adds Ramaphosa appointing Eskom task team)

South Africa emerges from recession as farming, manufacturing jump

04 Dec 2018

PRETORIA Farms and factories dragged South Africa out of its first recession in almost a decade, data showed on Tuesday, as the economy grew by more than expected in the third quarter.

South Africa faces more power cuts, raising Ramaphosa reform risk

03 Dec 2018

JOHANNESBURG South Africa faces more power cuts, electricity utility Eskom warned on Monday as it sought to prevent the collapse of its power grid in a test for President Cyril Ramaphosa's reforms.

South Africa faces more power cuts, raising Ramaphosa reform risk

03 Dec 2018

JOHANNESBURG, Dec 3 South Africa faces more power cuts, electricity utility Eskom warned on Monday as it sought to prevent the collapse of its power grid in a test for President Cyril Ramaphosa's reforms.

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.

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.

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