NewsSouthern Africa

Fri,23Jun2017

Southern Africa

South African banking shares under pressure after watchdog charges

Shares in South Africa's banking index extended losses on Monday as investors continued to digest the competition watchdog's recommendation that banks should be fined for rigging the rand currency.

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South Africa watchdog seeks penalty against banks for FX rigging

South Africa's competition watchdog has recommended fines against banks including Citigroup, Nomura and Standard Bank equal to 10 percent of their annual revenues for rigging the rand currency, it said on Wednesday.

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South Africa's Sibanye secures $2.65 billion finance for Stillwater deal

Sibanye Gold Ltd has secured a loan of $2.65 billion to support the acquisition of Stillwater Mining Company, the only US miner of platinum and palladium, the South African company said on Monday.

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Protesters drown out Zuma's State of the Nation message about inequality

Militant oppositionists clashed with security officials and ANC loyalists in Cape Town

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South Africans take to the streets ahead of Zuma's State of the Nation address

The government makes a show of political and military force against the opposition as Zuma faces a key parliamentary test.

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South Africa's presidential frontrunner announces country's first minimum wage

Facing economic woes and dissent, the country's governing party tries a radical relaunch.

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