NewsSouthern Africa

Mon,18Jun2018

Southern Africa

South African Airways says it needs capital injection "now"

 Ruling party supporters wave for a South African Airways Airbus flyby during the inauguration of the Union Building in Pretoria, South Africa, Saturday, May 24, 2014.Photo: Themba Hadebe/AP/SIPASouth African Airways (SAA) needs a new capital injection "now" to stay afloat and is in discussions with banks and the National Treasury for "an open credit line", its chief executive said on Tuesday.

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Steinhoff faces angry shareholders as it renegotiates debt

Shoppers make their way along the wide shopping avenues inside the newly-opened Mall of Africa in Midrand, South Africa, Thursday April 28, 2016. Photo: Denis farrell/AP/SIPASouth African retailer Steinhoff is in talks with creditors about restructuring its debt, it said on Friday as it faced shareholders for the first time since an accounting scandal surfaced in December.

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S.African utility Eskom asks to recover $5.5 bln via higher tariffs

 Eskom's electricity pylons snake across a hill in a Johannesburg suburb, Thursday, Nov. 24. 2011. Photo:Denis Farrell/AP/SIPASouth African state utility Eskom is seeking to recover 66.6 billion rand ($5.5 billion) of costs incurred over the past three years through higher tariffs, saying it sold less electricity than forecast because of an economic downturn.

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South Africa's glass maker Consol IPO may raise up to $415 mln

 The picture shows bottles production line. Photo/Libor Zavoral (CTK via AP Images)/P201709210471701/17264South African glass bottle maker Consol aims to raise up to $415 million via an initial public offering (IPO), it said on Monday, returning the firm to public markets after more than a decade in the hands of private equity groups

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South Africa's mines minister aims for new mining charter by May

Gwede Mantashe addresses journalist during a media briefing in Johannesburg, South Africa, Wednesday, April 5, 2017. Photo: AP Photo/Themba HadebeSouth Africa's mines minister Gwede Mantashe said on Tuesday he was still aiming to finalise a third version of an industry charter by May that lays out requirements for black ownership levelsand other targets.

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South Africa may ask pharma firms for fee to clear drug review backlog

Forty-milligram tablets of the drug Lipitor photographed in Glen Rock, N.J., Tuesday, Nov. 15, 2005. Photo: MEL EVANS/AP/SIPADrugmakers in Africa's largest pharmaceutical market may be asked to pay a "backlog fee" to help clear a pipeline of medicines waiting years for approval, according to a proposal being considered by South Africa's new industry regulator.

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