NewsSouthern Africa

Fri,20Oct2017

Southern Africa

New BRICS bank plans $1.5 bln lending for South African projects

 Construction workers on the site of the Rapid Bus Transport System, Johannesburg, June 3, 2009. Photo: DENIS FARRELL/AP/SIPAA New Development Bank (NDB) set up by the "BRICS" group of emerging economies plans to lend $1.5 billion to South Africa for infrastructure projects over the next eighteen months.

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Moody's says South Africa's political tensions constraining growth

An ANC supporter holds a placard during a protest, Johannesburg, South Africa, Sept. 5, 2016.Photo: Themba Hadebe/AP/SIPAPolitical tensions in the ruling African National Congress (ANC) will weigh on South Africa's growth, ratings agency Moody's said on Wednesday, a week after President Jacob Zuma survived a no-confidence vote in parliament.

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South Africa's rand, bonds firmer as downgrade fears fade

A worker at the Stock Exchange in Johannesburg, South Africa, April 4, 2017. Photo: Denis farrell/AP/SIPASouth Africa's rand firmed on Monday, buoyed by Moody's decision to delay ratings decision on the sovereign that was scheduled for last Friday.

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Old Mutual to list not sell businesses next year in break-up

Old Mutual will list Old Mutual Wealth in London.This photo shows the outside of the London Stock Exchange. Photo: ALASTAIR GRANT/AP/SIPAAnglo-South African financial services group Old Mutual aims to list two divisions rather than sell them as it pursues a plan to split into four parts by the end of next year.

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South African's Eskom to sell more surplus power in major turnaround

Electricity pylons cross the skyline of Johannesburg city, March 2015. Photo: Themba Hadebe/AP/SIPASouth African power utility Eskom is to start selling more of its surplus capacity as new plants come on line, its acting chief executive said on Thursday, marking a shift from two years ago when the company had to conserve power because of shortages.

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South Africa's business confidence climbs to 5-month high in July

SA President Jacob Zuma arrives for the G-20 summit in Hamburg, July 6, 2017. A no-confidence vote against Zuma in SA has dampened investment in the country. Photo: Markus Schreiber/AP/SIPASouth Africa's business confidence climbed to its highest level in five months in July helped by a firmer currency, falling inflation and an increase in vehicle sales, a survey showed on Tuesday.

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