South Africa

Climate change: Scientists say time is running out to protect Africa's food supply

Photo©ReutersWithout action to help farmers adjust to changing climate conditions, it will become impossible to grow some staple food crops in parts of sub-Saharan Africa, with maize, beans and bananas most at risk, researchers said on Monday.

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Old Mutual considering options for strategic review

File photo©ReutersOld Mutual, an Anglo-South African financial services company, said on Monday it was considering all options as part of a strategic review it announced in November, but that it had not yet made any decision.

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Insurance: South Africa's insurer MMI moots exit from some African markets

South Africa's No.3 insurer MMI Holdings could exit some markets elsewhere in Africa, its spokeswoman said on Friday, the latest company to scale back on the continent once at the heart of executives' expansion plans.

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A day in the life of a Proud protector

Photo©Lee-Ann OlwagePatrolling on foot with the Black Mambas – a mainly female anti-poaching unit – Siphiwe Sithole helps preserve rhinos in South Africa's Balule Nature Reserve.

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South Africa: ANC seeks to intensify land reform programme

President Jacob Zuma. File Photo©ReutersSouth Africa's President Jacob Zuma says the 1913 cut-off date for land claims should be pushed back and that the government cannot address poverty, inequality, unemployment without fundamentally addressing the land issue.

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MTN's shares make biggest gain on hopes of deal over Nigeria fine

Photo©ReutersSouth Africa-based MTN's share price made its biggest daily gain in more than seven years on Thursday after the regional mobile phone giant said it had set aside $600 million to settle its dispute with Nigeria over a $3.9 billion fine.

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Investment: South Africa to undertake non-deal roadshow

South Africa's finance minister, Pravin Gordhan. Photo©ReutersFinance minister, Pravin Gordhan is set to lead a South African delegation to meet investors in London, Boston and New York as part of a non-deal roadshow, according to a lead.

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South Africa's MTN may list in Nigeria once fine resolved

Brokers work on the trading floor of the Nigerian stock exchange in the commercial capital Lagos. Photo©ReutersSouth Africa's MTN Group may list its Nigerian unit on the stock exchange in Lagos once it has resolved a disputed $3.9 billion fine with authorities in the Western African nation, its executive chairman said on Thursday.

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Electricity tariff increase riles South Africans

Eskom's CEO, Brian Molefe. Photo©ScreenShotSouth Africa is set to increase electricity tariffs by up to 9.4 percent, as the nation's power utility seeks to recoup increasing costs after it was forced to use expensive alternative energy due to electricity shortages that hit the country over the last two years.

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South Africa: 16,000 job cuts delayed over agreement between gov't and mining firms

Photo©ReutersA deal struck between South Africa's government, companies and unions has prevented the immediate loss of 16,000 jobs in an industry hurt by a global commodities rout, an official said on Wednesday.

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South Africa's Clover Industries to stop Nigeria investments, expand into Southern Africa

Photo©CloverSouth Africa's dairy products company, Clover Industries is withdrawing from future investments in Nigeria due to a financial crisis in the West Africa country.

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South Africa's President Zuma survives another confidence vote

President Jacob Zuma, left, and speaker of the house Baleka Mbete, right. Photo©Mike Hutchings/AP/SIPASouth Africa's President Jacob Zuma survived a vote of no confidence on Tuesday afternoon, his second in 12 months, as opposition leaders claimed the country's citizens had lost faith in their leader.

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South Africa's electoral conundrum as millions lack physical addresses

People stand in line to vote during elections in the township of Nyanga on the outskirts of Cape Town, South Africa, Wednesday, May 7, 2014. Photo©SchalkvanZuydam/AP/SIPASouth Africa's Independent Electoral Commission (IEC) heads to the Constitutional Court this week to seek clarity on the ruling on verification of voters' physical addresses, an order they say could disenfranchise close to 8 million people.

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Banking: Barclays Africa tumbles as British parent signals exit

File Photo©ReutersSpeculation that Barclays could be withdrawing from Africa after almost a century there sent shares in its business Barclays Africa Group tumbling on Monday.

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South Africa's Telkom yet to make decision on more job cuts

South Africa's fixed-line operator Telkom said on Monday no decision has been made to cut its workforce by about 40 percent this year as it seeks alternative ways to reduce labour costs as part of a turnaround strategy.

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South Africa: Markets react to row between Finance Minister and Revenue Service Commissioner

Pravin Gordhan was reappointed in December to calm markets after the rand plunged nearly 10 percent following Zuma's decision to replace former finance minister Nhlanhla Nene with a junior politicianPravin Gordhan, South Africa's finance minister would take legal action to protect himself from what he called attempts to discredit him and the integrity of the Treasury.

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South Africa Telkom says to at least 300 jobs

Photo©ReutersSouth Africa's fixed-line operator Telkom plans to cut at least 300 jobs at its head office as part of a turnaround strategy that includes reducing costs, it said on Friday.

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Telecoms: Nigeria regulator has not received payment from MTN yet

Photo©ReutersNigeria's telecommunications regulator NCC has not yet received any payment towards a possible fine from South African telecoms firm MTN Group, a spokesman for NCC said on Thursday.

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South Africa's austere budget targets deficit to avoid downgrades

South Africa's finance minister Pravin Gordhan delivers the annual Budget speech in Parliament at Cape Town, Wednesday, Feb. 24, 2016. Thousands of South Africans listened to the 2016 budget speech shown live on local television networks. Photo©Mike Hutchings/AP/SIPASouth Africa announced an austere budget on Wednesday aimed at avoiding cuts in its credit ratings, and vowed to focus spending on priority areas after weak economic growth reduced its revenue.

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South Africa to borrow $4.5 bn from global markets over medium term

South Africa's government plans to borrow $4.5 billion from global markets over the next three years, with $1 billion worth of paper planned for the current fiscal year ending March if conditions allow, the National Treasury said on Wednesday.

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