NewsSouthern Africa

Thu,30Mar2017

Southern Africa

South Africa's Gordhan: Tackle graft and weak growth to avoid junk ratings

Finance Minister Pravin Gordhan delivers his 2016 Budget speech to parliament in Cape Town,South Africa, February 24, 2016. Photo: Reuters/Mike Hutchings/File PhotoSouth Africa's Finance Minister Pravin Gordhan has said that the country must tackle corruption and weak economic growth or face the risk of a credit rating downgrade to "junk" status.

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Mozambique upbeat on debt crisis, investors not so sure

 

President Filipe Nyusi of Mozambique speaks at a high-level meeting on addressing large movements of refugees and migrants at the United Nations General Assembly in Manhattan, New York, U.S. September 19, 2016. Photo by Reuters/Carlo AllegriMozambique's finance minister has a plan to deal with a debt crisis that threatens to derail one of Africa's most promising frontier economies but investors are far from convinced.

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South African pension fund seeks central bank approval to increase Barclays Africa stake

A woman uses an ATM at a branch of Barclay's South African subsidiary Absa bank in Johannesburg. Photo: Siphiwe Sibeko/ReutersAfrica's biggest pension fund, Public Investment Corporation, has sought approval from South Africa's central bank to raise its stake in Barclays Africa, two sources with direct knowledge of the matter said.

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South Africa's day of rage against Zuma

Economic Freedom Fighters supporters march in Pretoria. Photo: Denis Farrell/AP/SIPASouth Africa’s capital Pretoria witnessed a day of rage against beleaguered President Jacob Zuma as opposition parties, civil society groups, religious leaders, prominent businesspeople and students united to call for him to step down.

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South African state prosecutor drops fraud charges against Gordhan

South Africa's finance minister Pravin Gordhan delivers the midterm budget speech inside Parliament in Cape Town. Photo: Rodger Bosch/AP/SIPASouth Africa's state prosecutor dropped fraud charges on Monday against Finance Minister Pravin Gordhan, executing a U-turn in a case that has rattled financial markets and drawn accusations of political meddling.

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South Africa's Shoprite loses long-serving CEO to retirement

A shopper is seen outside a Shoprite store in Johannesburg. Photo: Siphiwe Sibeko/ReutersThe chief executive of Shoprite will retire in December, the company said on Monday, ending his nearly four decades at the helm of the supermarket group he transformed from a eight-store start-up into an $8bn behemoth.

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