NewsSouthern Africa

Sat,25Jun2016

Southern Africa

South African president Zuma's appeal denied

President Jacob Zuma. Photo©Themba Hadebe/AP/SIPASouth African President Jacob Zuma's efforts to avoid trial on corruption charges have once again failed after a court dismissed an appeal to have the charges withdrawn.

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African markets prepare for Brexit turbulence

File photo©AP/SIPAAfrican currencies, markets and political unions are readying themselves for turmoil after Britain's vote to leave the European Union (EU) sent shockwaves through global financial markets and cast doubts on one of the most ambitious political projects in modern history.

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South Africa's Steinhoff says Poundland board declines offer proposal

South African furniture retailer Steinhoff International said on Friday Britain's Poundland's board had rejected a proposal about a possible cash offer.

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Investment: Brexit triggers gold rush

Photo©ReutersGold soared as much as 8 percent to its highest in more than two years on Friday after Britain delivered a shock vote to leave the European Union, leaving investors to scurry for protection in the precious metal and other assets perceived as less risky.

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South Africa's union threatens to strike over SABMiller scheme

File photo©Andy Wong/AP/SIPASouth Africa's Food and Allied Workers Union (Fawu) said on Thursday it will strike and may take legal action if no agreement is reached with brewer Anheuser-Busch InBev on SABMiller's plan to give blacks a larger role in the business.

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Africans brace for Brexit

Photo©AP/SIPAAs British voters go to the polls in a historic referendum on the United Kingdom's membership in the European Union, many in Africa will be watching the results closely. A vote to leave the EU, dubbed 'Brexit', could trigger a recession that would hit African economies, many of which are already suffering from the commodity price slowdown.

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