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South African capital spending plunges 37% on State pullback

South African capital spending plunges 37% on State pullback

8th February 2023 Planned spending on capital projects in South Africa plunged 37% last year as the state scaled back expenditure, and the downswing is likely to... 

Eskom’s survival depends on debt relief and tariffs, CEO says

Eskom’s survival depends on debt relief and tariffs, CEO says

7th February 2023 Eskom needs debt relief in combination with tariff increases to survive, said CEO Andre de Ruyter, who has led the utility for three years as South... 

Blackouts may cost South Africa R899m a day, Reserve Bank says

Blackouts may cost South Africa R899m a day, Reserve Bank says

7th February 2023 South Africa’s electricity crisis is costing the economy as much as R899 million a day, according to central bank estimates. Rolling blackouts of... 

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South African firms urge Ramaphosa to pick better Ministers

7th February 2023 South Africa’s biggest business group urged President Cyril Ramaphosa to use an upcoming Cabinet reshuffle to improve the performance of a... 

South Africa says finalising climate plan as Mminele quits

South Africa says finalising climate plan as Mminele quits

3rd February 2023 South Africa is finalising an implementation plan for an $8.5-billion climate finance deal with some of the world’s richest countries even as the... 

The power utility ruining South Africa is a big winner for bondholders

The power utility ruining South Africa is a big winner for bondholders

2nd February 2023 South Africa’s Eskom is not very good at keeping the lights on, but it’s providing excellent profits for bondholders. Eskom’s dollar bonds due 2028... 

Yellen positive on cap talks after EU floats Russia diesel price

Yellen positive on cap talks after EU floats Russia diesel price

27th January 2023 US Treasury Secretary Janet Yellen said she’s confident that discussions aimed at extending restrictions on the sale of Russian petroleum products... 

Eskom weighs nuclear fuel impact after US-South Africa pact ends

Eskom weighs nuclear fuel impact after US-South Africa pact ends

26th January 2023 Power utility Eskom is examining how the suspension of a pact that enables it to import nuclear fuel components from the US will affect its sole... 

South Africa to moderate rate hikes with end in sight

South Africa to moderate rate hikes with end in sight

26th January 2023 South Africa’s central bank is set to moderate its most aggressive interest-rate hiking cycle in at least two decades Thursday, and economists and... 

Key African economies to slow rate hikes with inflation peaking

20th January 2023 After tightening monetary policy sharply in 2022, most African central banks are poised to slow the pace of interest-rate hikes in coming weeks as... 

Yellen woos Africa as US vies for influence with China, Russia

Yellen woos Africa as US vies for influence with China, Russia

19th January 2023 US Treasury Secretary Janet Yellen, declaring that African can help shape the future of the global economy, will set out why the Biden... 

Fleeing foreign investors worsen South Africa’s deficit problem

19th January 2023 A current-account balance that’s swinging into deficit is adding pressure on South Africa to stem a foreign-investor flight from the government... 

South Africa plans new law to accelerate power capacity

South Africa plans new law to accelerate power capacity

17th January 2023 South Africa’s National Energy Crisis Committee, a body run by the office of President Cyril Ramaphosa, expects record power outages to ease as... 

Economists see a 45% chance of a South Africa recession in 2023

Economists see a 45% chance of a South Africa recession in 2023

16th January 2023 Africa’s most industrialised economy faces a 45% chance of slipping into recession this year as South Africa’s electricity crisis deepens. The... 

South Africa set to welcome Russian warships despite criticism

16th January 2023 South Africa will next month go ahead with naval exercises off its eastern coast with Russian and Chinese warships in a decision that could further... 

Yellen heads to Africa with US seeking to counter China’s influence

Yellen heads to Africa with US seeking to counter China’s influence

16th January 2023 US Treasury Secretary Janet Yellen departs Tuesday to visit three African countries central to President Joe Biden’s strategy to rejuvenate ties on... 

Things to know as Davos returns in winter amid ‘polycrisis’ risk

Things to know as Davos returns in winter amid ‘polycrisis’ risk

13th January 2023 The global elite is heading to the mountains again as the World Economic Forum’s (WEF's) annual meeting returns to Davos during the winter for the... 

Brics may decide on whether to admit new members this year

Brics may decide on whether to admit new members this year

12th January 2023 The Brics group of nations is formulating criteria for joining the bloc and may decide by the end of this year on whether to admit new nations and... 

ANC wants explicit jobs mention in Central Bank remit

ANC wants explicit jobs mention in Central Bank remit

12th January 2023 The African National Congress supports the central bank’s inflation-targeting policy and independence but would like an explicit mention of job... 

Blackouts an attack on South Africa, Naledi Pandor

Blackouts an attack on South Africa, Naledi Pandor

12th January 2023 Minister of International Relations and Cooperation Naledi Pandor questioned the repeated breakdown of power plants and said they could be seen as... 

South Africa at key stage of nuclear revamp as power grid reels

South Africa at key stage of nuclear revamp as power grid reels

11th January 2023 South Africa has entered a critical phase of revamping its sole nuclear plant and needs it to run according to plan to avoid deepening power cuts... 

Ramaphosa pledges to fix South Africa’s governing ANC as election looms

Ramaphosa pledges to fix South Africa’s governing ANC as election looms

9th January 2023 South Africa’s governing African National Congress is intent on turning itself around and addressing voter disillusionment over poor government... 

Ramaphosa says Eskom CEO quit because ‘it’s a tough job’

9th January 2023 The CEO of Eskom Holdings Andre de Ruyter resigned because “it's a tough job,” South African President Cyril Ramaphosa said, stressing that the... 

South Africa to use Brics chair role to advance Africa interests

South Africa to use Brics chair role to advance Africa interests

9th January 2023 South Africa will use its role as the 2023 chair of the BRICS grouping of nations to advance the interest of Africa as a whole, President Cyril... 

Mkhize wants step-aside rule reviewed before ANC key vote

Mkhize wants step-aside rule reviewed before ANC key vote

15th December 2022 President Cyril Ramaphosa’s rival in the race to head the nation’s governing party called for the review of a rule that compels members to... 

China’s factories to the world brace for tsunami of Covid cases

China’s factories to the world brace for tsunami of Covid cases

15th December 2022 From locking in workers to hoarding medicines, beds and disinfectant, China’s factories are going to great lengths to keep the machines running —... 

Australia’s Lowe says he hopes to be in role this time next year

14th December 2022 Australian central bank Governor Philip Lowe reaffirmed his desire to stay in the top job as his seven-year term approaches its end and amid... 

US lawmakers announce deal on full year spending Bill outline

US lawmakers announce deal on full year spending Bill outline

14th December 2022 Top US lawmakers announced that they broke a deadlock on spending levels for US government programs, putting Congress on track to complete a $1.7... 

Stats SA considers adding self-generated power to data set

Stats SA considers adding self-generated power to data set

14th December 2022 South Africa’s statistics agency is considering including self-generated power in its monthly electricity-generation data as more households and... 

ABB bribe scheme in South Africa nearly collapsed over division of loot, US says

ABB bribe scheme in South Africa nearly collapsed over division of loot, US says

9th December 2022 A scheme by employees at Swiss industrial firm ABB to pay bribes for contracts at South Africa’s State-owned power utility nearly fell apart in a... 

South African consumer confidence rebounds on upbeat outlook for employment

South African consumer confidence rebounds on upbeat outlook for employment

8th December 2022 South African consumer confidence recovered to its strongest level in two years in the fourth quarter as households anticipated better employment... 

Biden likely to announce re-election after holidays – Klain

Biden likely to announce re-election after holidays – Klain

6th December 2022 White House Chief of Staff Ron Klain said he expects that President Joe Biden will announce he’s running for re-election after the US Christmas and... 

Ramaphosa exit won’t change economic policy, finance chief says

Ramaphosa exit won’t change economic policy, finance chief says

2nd December 2022 Should South African President Cyril Ramaphosa resign, economic policy won’t change, the country’s Finance Minister Enoch Godongwana said, while... 

Biden signals Democrats will ditch Iowa as first State in Presidential nominating process

Biden signals Democrats will ditch Iowa as first State in Presidential nominating process

2nd December 2022 President Joe Biden offered the strongest indication yet that Democrats will ditch Iowa as the kick-off to their presidential nominating process,... 

Ramaphosa to host Venezuela’s Maduro on State visit

Ramaphosa to host Venezuela’s Maduro on State visit

28th November 2022 South African President Cyril Ramaphosa will host Venezuelan President Nicolas Maduro on a state visit on December 6. “The visit will highlight the... 

South Africa prisons Head to appeal ruling that nullified Zuma's parole

South Africa prisons Head to appeal ruling that nullified Zuma's parole

24th November 2022 South Africa’s prisons authority will challenge an Appeals Court ruling that nullified former President Jacob Zuma’s medical parole and ordered... 

South Africa gauge signals poor start to final-quarter economic growth

South Africa gauge signals poor start to final-quarter economic growth

18th November 2022 An index measuring South African economic transactions fell to a 10-month low in October after a strike at the State-owned port and rail operator... 

Climate projections again point to dangerous 2.7 °C rise by 2100

Climate projections again point to dangerous 2.7 °C rise by 2100

10th November 2022 The research partnership Climate Action Tracker (CAT) on Thursday released its latest projections of how greenhouse gas emissions may dangerously... 

Who to watch in ANC leadership race

Who to watch in ANC leadership race

4th November 2022 South Africa’s governing party is shaping up for a bruising contest when it elects new leaders at its national conference in Johannesburg in... 

Emergency plan to tackle South Africa’s energy crisis remains work in progress

Emergency plan to tackle South Africa’s energy crisis remains work in progress

3rd November 2022 President Cyril Ramaphosa promised in late July to implement emergency measures within three months to tackle record blackouts. But those have only... 

South Africa needs to expand 5% consistently to cut unemployment

2nd November 2022 South Africa’s economy needs to expand consistently at 5% for years to create jobs and lower an unemployment rate that’s among the world’s highest,... 

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