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Tue,25Sep2018

South Africa

South Africa legislature passes law paving way for land seizures

President Jacob Zuma is expected to sign the Bill into law soonSouth Africa's lower house has passed a law that will allow government to seize land for redistribution to landless people to address skewed historical ownership patterns but the move is stoking fresh political disputes in the country.

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Mining: Anglo American keeps De Beers' diamonds after drastic overhaul

File photo©ReutersMining group Anglo American has retained De Beers as a prize asset after a radical overhaul in the belief that surging Chinese and Indian demand for diamonds will outstrip dwindling supply even after a 2015 crunch.

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South Africa: Finance Minister Pravin says report of imminent arrest "extremely distressing"

Pravin Gordhan. Photo©ReutersSouth Africa's finance minister said on Tuesday that reports of his imminent arrest were "extremely distressing", calling them an attack on the Treasury and asking for its protection to help deliver economic growth.

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Cashing in on the beautiful game of Football

Fans of English football file out after watching arsenal v. ManUina Nairobi slum. Photo©Noor Khamis/ReutersHuge fan bases on the continent are causing English Premier League clubs to ramp up sponsorship deals with African brands.

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South Africa risks recession as manufacturing and mining sectors contract amid drought

Photo©ReutersSouth Africa's manufacturing output resumed its decline and mining production contracted as weak global demand pushed the country's ailing economy closer to a recession.

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Theatre: Beyond the rainbow

While apartheid ruled outside, all colours shared the Market stage. Photo©All Rights ReservedJohannesburg's Market Theatre celebrates its 40th anniversary this year, and complacency is not on the program.

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South Africa public broadcaster to play 90% local music

Photo©ReutersSouth Africa's public broadcaster will now play 90 percent local music content on its radio platforms after heavy lobbying from artists.

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South Africa approves SABMiller, Coke bottling deal with conditions

Photo©John Bazemore/AP/SIPASouth Africa's Competition Tribunal on Tuesday conditionally approved a SABMiller and Coca-Cola deal to combine their African soft drink operations into what would be the continent's biggest Coke drinks bottler.

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South African unions raise alarm over job losses

File Photo©ReutersSouth African trade unions have expressed shock at the country's unemployment levels following the release of statistics showing that the number of people without jobs in one of Africa's largest economies had risen by 2.2 percent.

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South Africa: ESKOM's deal with French company to add 100 MW solar power to national grid in 2018

File photo©ReutersFrench group Engie has signed a 20-year power purchase deal with South Africa's state-owned utility Eskom to connect 100 megawatts (MW) of solar power onto the national grid in 2018 from its Kathu Solar plant.

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South Africa says bringing finances under control after Moody's lowers outlook

Rand Notes. Photo©Denis Farrell/AP/SIPASouth Africa's Treasury said on Saturday that the government was bringing public finances under control despite recent "adverse political developments."

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South Africa faces tough economic environment

South Africa faces a challenging economic environment, with growth in 2016 seen at 0.6 percent, entailing falling per-capita income, the International Monetary Fund said on Friday.

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South Africa's opposition reject an 'utterly discredited and illegitimate president'

President Jacob Zuma and Speaker of Parliament Baleka Mbete. Photo©Mike HutchingsSouth Africans are increasingly getting agitated by what they believe is the weakening of democratic institutions following this week's boycott of President Jacob Zuma's parliamentary response to the presidency budget vote.

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South Africa opens probe into police boss' fitness

SA Police Commisioner, Riah Phiyega was suspended last year following an official inquiry into the shooting to death of 34 striking mine workers in August 2012An inquiry into whether suspended South African police commissioner Riah Phiyega is still fit to hold office after questions were raised over her alleged involvement in the massacre of 34 miners four years ago opened this week after several delays.

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South Africa's PIC in talks with Barclays on African business stake

File photo©Kirsty Wigglesworth/AP/SIPAouth Africa's state pension fund is talking to Barclays Plc about buying some of the stake which the British bank is selling in its African business, a source with direct knowledge of the matter said.

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Agribusiness: SABMiller and Coke agree bottling merger concessions with South Africa

File photo©John Bazemore/AP/SIPASABMiller and Coca-Cola have agreed concessions with the South African government to win approval for a deal to combine their soft-drink operations, the companies said on Wednesday.

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Finance: Pravin Gordhan says South Africa will meet fiscal targets

South Africa's Finance Minister, Pravin Gordhan. Photo©Schalk Van Zuydam/AP/SIPASouth Africa's Finance Minister Pravin Gordhan said on Wednesday he was confident of meeting fiscal targets for 2016, but that stronger economic growth remained a challenge.

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South Africa trade union movement rift laid bare at commemorations

Zwelinzima Vavi told workers that they were ready to challenge Cosatu. Photo©Obed Zilwa/AP/SIPAThe rift in the South African trade union movement was laid bare on Monday as workers held separate major events to commemorate Workers Day.

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Ebola, drought, commodity price slump dent Sub-Saharan Africa economic growth

File photo©Rio Tinto/AP/SIPAEconomic growth in sub-Saharan Africa will likely slow this year to its weakest in nearly two decades, hurt by a slump in commodity prices, the Ebola virus outbreak and drought, the IMF said on Tuesday.

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Thabo Mbeki charges against illicit financial flows

Former South African President Thabo Mbeki. Photo©Thibault Camus/AP/SIPASeven years since leaving office, Mbeki doesn't hide his impatience with Africa's failure to fulfill its great potential. And on matters pertaining to Africa's socioeconomic and political development, former South African president Thabo Mbeki's voice, tempered by age and experience, continues to be heard as he fights against illicit financial flows.

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