NewsSouthern Africa

Thu,17Aug2017

Southern Africa

South Africa's new finance minister responds to ratings downgrade

South Africa's rand, bonds and banking shares tumbled sharply on Tuesday (April 4) after S&P Global Ratings cut the country's credit rating to junk in response to President Jacob Zuma's move to sack its respected finance minister.

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Expectations Gordhan will go leave South African markets on edge

South Africa's currency and bonds weakened again on Wednesday as expectations rise that President Jacob Zuma will sack finance minister Pravin Gordhan following the funeral this afternoon of anti-apartheid icon Ahmed Kathrada.

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Barclays in talks to sell Zimbabwe bank to Malawi's First Merchant Bank

Barclays is in exclusive talks to sell its stake in its Zimbabwe unit to Malawi-based First Merchant Bank, the lenders said on Tuesday, as the British bank continues its exit from Africa.

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South Africa's Brait suspends LSE listing plan on Brexit uncertainty

South Africa's Brait SE has suspended plans to list on the London Stock Exchange, the investment firm said on Friday, citing uncertainty over Britain's decision to leave the European Union.

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Zimbabwe opposition demand U.N. conducted vote

Zimbabwean opposition parties want next year's presidential elections overseen by a special team put together by the United Nations and African Union.

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Zimbabwe hopes tobacco sales will ease dollar crunch

Zimbabwe is likely to produce 205 million kilograms of tobacco this year, slightly more than 2016, with sales of its main export likely to improve dollar supplies in the cash-strapped economy, an industry official said on Wednesday (March 15).

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