NewsSouthern Africa

Sun,28Aug2016

Southern Africa

South Africa's credit rating to be cut to junk this year

Photo©Brendan McDermid/ReutersSouth Africa's credit rating is set to be cut to junk status this year, according to a Reuters poll taken just days after police summoned Finance Minister Pravin Gordhan over an investigation into a suspected rogue unit of the tax service.

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Decriminalizing of drugs, the only pathway

Marijuana sits in a bowl from which it is packaged and sold to customers, at The Station, a medical and retail cannabis dispensary, in Boulder, Colo., Thursday, Aug. 11, 2016. Brennan Linsley/AP/SIPADrug trafficking and the black market are, to a large extent, a direct consequence of the international drug control system and the national laws that are derived therefrom.

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Zimbabwe's priests tell Mugabe to go

Zimbabweans worship, during an anti immigrant attack prayer session at the Trinity Methodist church in Harare. Photo: Tsvangirayi Mukwazhi/AP/SIPA Zimbabwe's prominent Christian leaders have joined a growing chorus of influential voices calling for the impeachment of President Robert Mugabe, warning that the country could slide into "total collapse" if he continues to rule.

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South Africa: President Zuma can't intervene in Pravin Gordhan probe

President Jacob Zuma. Photo©Themba Hadebe/AP/SIPASouth African President Jacob Zuma said on Thursday he backs Finance Minister Pravin Gordhan but cannot intervene in a police investigation over a suspected spy unit at the tax service, signalling a prolonged tussle that could rock markets further.

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South Africa finance minister says Treasury managing to remain "fiscally credible"

Pravin Gordhan. Photo©Chalk Van Zuydam/AP/SIPASouth African Finance Minister Pravin Gordhan said on Wednesday that the domestic growth outlook remained bleak, reiterating that economic expansion would be close to zero percent this year as forecast by the central bank.

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South African assets sink after police summon finance minister

Finance Minister Pravin Gordhan. Photo©Schalk Van Zuydam/AP/SIPASouth African assets slumped on Wednesday after an elite police unit summoned Finance Minister Pravin Gordhan over an investigation into a suspected rogue spy unit in the tax service, fuelling speculation that there was a plot to oust him.

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