NewsSouthern Africa

Mon,27Feb2017

Southern Africa

South Africa to publish contested mining charter by March

Platinum mineworkers report for work at Anglo American's platinum mine in Marikana, South Africa. Photo: Denis Farrell/AP/SIPASouth Africa will publish its revised mining charter by next month, a minister said on Monday, bringing closer legislation meant to redress racial economic inequality but which has concerned companies struggling with lower commodity prices.

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South Africa's Kumba pays $186 million to settle tax dispute

In this photo taken Wednesday, May 18, 2016 a closed mine shaft in Welkom, South Africa.Photo: Themba Hadebe/AP/SIPASouth Africa's Kumba Iron Ore, a unit of Anglo American, will pay $186m to settle a tax dispute with local authorities, the company said on Friday, sending its share price over 7% lower.

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South Africa posts trade surplus in December as economy slows

A shopkeeper places a mannequin outside a clothing store in a busy mall in downtown Johannesburg. Imports of clothing decreased in SA during 2016. Photo: Denis Farrell/AP/SIPA

South Africa recorded a larger-than-expected surplus in December, largely due to a sharp fall in imports as the continent's most industrialised country continued to see subdued consumer and business confidence.

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World's largest brewer offers voluntary severance in South Africa

 Bottles of beers on sale in London. Budweiser maker is Anheuser-Busch InBev. Photo: Kirsty Wigglesworth/AP/SIPAAnheuser-Busch InBev, the world's largest brewer, has offered more than 1,000 employees in South Africa voluntary severance following its merger with SABMiller, the Business Day newspaper reported on Monday, citing an internal memo.

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South Africa economy poised for growth, stable repo rate in 2017

Johannesburg's skyline. Photo: Themba Hadebe/AP/SIPASouth Africa's economy will get a boost from perkier commodity prices, a benign inflation outlook and better rains for the agriculture sector this year, a Reuters poll found on Thursday.

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Zimbabwe tax agency says misses 2016 revenue target due to weak economy

Zimbabwean President Robert Mugabe addresses people at an event before the closure of his party's 16th Annual Peoples Conference in Masvingo, Zimbabwe, December, 2016. Photo: Tsvangirayi Mukwazhi/AP/SIPAZimbabwe's tax agency ZIMRA said on Thursday it failed to meet its 2016 revenue target by 4 percent, as the economy stalled and weak global commodity prices hit mineral royalties.

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