Bloomberg
Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News.
Godongwana says Central Bank mandate enough to foster job growth
1st August 2022 Finance Minister Enoch Godongwana said the central bank’s constitutional mandate to maintain price stability is sufficient to foster job creation,... →
South Africa set to take over part of Eskom’s R396bn debt
28th July 2022 South Africa’s Treasury is finalising a plan to take over a portion of Eskom Holdings' R396-billion debt as part of a process to place the... →
More hawkish central bank no quick fix for South Africa’s Rand
22nd July 2022 South Africa’s Reserve Bank has tightened policy five times in a row, with a magnitude of rate hikes not seen in two decades. That hasn’t done much... →
South Africa wants to start accessing climate funds next year
21st July 2022 South Africa’s government wants to start accessing some of the $8.5-billion in climate financing pledged by some of the world’s richest nations by... →
Roaring inflation, weak currencies to spur rate hikes in Africa
19th July 2022 African central banks are escalating their fight against blistering inflation and currency weakness, with four out of six monetary policy... →
Indonesia as G20 host pushes for African Union representation
18th July 2022 Indonesia will push the Group of 20 as this year’s host to include the African Union (AU) to ensure the plight and concerns of the continent would... →
Energy crisis may spur South Africa to allow more private power
15th July 2022 South Africa is considering more than doubling the amount private power producers can generate without requiring a license in a bid to reduce... →
South Africa weighs changing Covid grant rules to include more people
15th July 2022 South Africa proposed almost doubling the maximum income threshold for poor people to qualify for a monthly stipend to ensure more people have... →
SAA sale part of vital reforms, Gordhan says
13th July 2022 South Africa’s minister in charge of embattled State-owned companies gave an impassioned defense of the sale of a majority stake in the national... →
South African inflation bets at 2016 high fail to spur rate pricing
12th July 2022 Inflation expectations in South Africa surged to a six-year high, but simultaneous worries about growth prevented traders from wagering on a... →
South Africa wants to create 2m jobs before 2024 election
12th July 2022 South African Labour Minister Thulas Nxesi wants to add as many as two-million new jobs before the next elections as the nation grapples with one... →
Eskom offers workers 7% increase after illegal protests
29th June 2022 Eskom Holdings is offering workers a 7% wage increase, after the utility lost units during illegal protests that plunged South Africa into the... →
Eskom says most workers at power plants, still sporadic protests
27th June 2022 South Africa’s power utility said most of its workforce is in place, despite some ongoing demonstrations that started last week after a breakdown... →
UK to guarantee $2bn of AfDB debt to boost climate fight
27th June 2022 The UK has agreed to guarantee $2-billion of the debt the African Development Bank has extended to governments on the continent, allowing the... →
Eskom says workers protest at some plants
23rd June 2022 Tensions are rising at Eskom, with the struggling South African electricity supplier confirming protests at a number of power plants following a... →
Faced with government ineptitude, Cape Town is going it alone
17th June 2022 As South Africa’s government struggles to provide sufficient electricity, public transport and other basic services, the country’s main tourist... →
South Africa to oppose bail for Guptas, Justice Minister says
13th June 2022 South Africa will oppose any request for bail made by the two Gupta brothers after their arrest in Dubai this month, Justice Minister Ronald Lamola... →
Eskom’s wage talks raise unions’ ire as dialogue hits stalemate
10th June 2022 Talks between South Africa’s beleaguered power utility Eskom and its biggest labour unions on wages have reached a stalemate, the latest crisis for... →
Eskom to transfer R39.9bn loan to transmission unit
10th June 2022 Eskom Holdings said it will give the transmission unit that it’s transforming into a separate entity a R39.9-billion loan to make sure it can... →
Pfizer protects against Omicron sublineages, Discovery says
8th June 2022 Pfizer and BioNTech’s Covid-19 vaccine appears to largely prevent severe disease from the coronavirus omicron variants sublineages BA.4 and BA.5, a... →
South Africa to file Gupta extradition request within 60 days
8th June 2022 South Africa’s government plans to file a request with the United Arab Emirates for the extradition of two fugitive businessmen wanted on charges... →
South Africans face fuel price surge as levy concession ends
26th May 2022 South Africans face record high gasoline prices in June as a subsidy to help motorists counter the impact of high crude costs exacerbated by... →
South Africa needs $250bn to transition away from coal
26th May 2022 South Africa, the world’s thirteenth-biggest source of greenhouse gases, will need to spend $250-billion over the next three decades closing down... →
Govt rejects civil servant demands for 10% pay increases
23rd May 2022 Government rejected demands from labour unions representing 1.3-million state workers for 10% raises and increased housing allowances and other... →
Aspen’s Covid flop bodes ill for Africa’s vaccine making drive
18th May 2022 Africa’s drive to set up a vaccine industry after being left at the back of the queue in the global scramble for Covid-19 shots has stumbled at the... →
Airline sale for R51 keeps it a financial burden for South Africa
11th May 2022 South Africa’s decision to sell a majority stake in the country’s loss-making national airline for R51 represents an ongoing financial risk to the... →
S Africa cuts back vaccine drive amid citizen apathy, may have to destroy doses
10th May 2022 South Africa is scaling back its Covid-19 vaccination drive and may have to destroy doses because of a lack of demand from citizens even as the... →
South Africa records highest positivity rate yet of fifth wave
5th May 2022 South Africa’s daily coronavirus test positivity rate rose to its highest level yet on Wednesday amid its fifth wave of infections. There were 6... →
South Africa seeks to make climate finance deal global benchmark
4th May 2022 South Africa’s planned $8.5-billion climate finance deal with some of the world’s richest nations could serve as a blueprint for other... →
Godongwana rules out creation of a new State bank
24th March 2022 Finance Minister Enoch Godongwana ruled out the creation of a new state bank, saying the country lacked the money needed to back it. The... →
Eskom considering taking on climate funds as equity injection
22nd March 2022 State power company Eskom is planning to propose that some of the funding the country secured to help tackle climate change take the form of loans... →
Eskom sees R20.9bn of extra diesel costs on coal outages
17th March 2022 Indebted State-owned power utility expects running costs for its diesel-fed turbines, which are used to keep the lights on when coal-powered plants... →
Higher prices, budget strains to hit Africa from war in Ukraine
4th March 2022 Russia’s invasion of Ukraine is likely to hurt Africa’s coronavirus-ravaged and fragile economies through fiscal constraints, weaker investment... →
Treasury warns self-enrichment culture eroding State
3rd March 2022 A culture of self-enrichment among some South African politicians and public servants is putting the country’s democracy and post-apartheid... →
Eskom considers selling assets as bailout prospects fade
23rd February 2022 Eskom Holdings, South Africa’s indebted power utility, is considering selling distribution assets as prospects of the government taking over about... →
Godongwana to navigate cost, debt wildcards in budget
21st February 2022 Finance Minister Enoch Godongwana is under pressure to show efforts to reduce the country’s fiscal deficits and rein in debt won’t be compromised... →
Billions in climate funds have South Africa agencies tussling
18th February 2022 One of the biggest announcements from last year’s COP26 climate talks was a pledge by some rich countries to provide $8.5-billion to help South... →
Cape Town warns EY, Nedbank contracts at risk after corruption report
15th February 2022 Cape Town has threatened to scrap contracts with companies including EY and Nedbank, after the firms were named in a judicial probe on alleged... →
Five things to watch for in Ramaphosa's State of the Nation speech
10th February 2022 President Cyril Ramaphosa, who is up for re-election as head of the ruling African National Congress in December, delivers his annual... →
South Africa torn over multibillion cost of fighting inequality
9th February 2022 Politics and economics are set to collide over welfare payments in the world’s most unequal nation. The first clue over which will prevail may come... →
South Africa business mood ticks up after virus curbs eased
9th February 2022 An index measuring South African business sentiment rose to a three-month high in January after coronavirus restrictions were eased following the... →
