NewsSouthern Africa

Mon,27Feb2017

Southern Africa

IMF advises Zambia to delay re-financing $2.8bn of eurobonds

Zambia's capital Lusaka at dusk. Photo via WikimediaZambia should delay its planned re-financing of $2.8bn worth of eurobonds until financing conditions ease, an International Monetary Fund (IMF) representative said on Monday.

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South Africa's Sibanye Gold to buy Stillwater Mining for $2.2bn

Sibanye Gold's chief executive officer Neal Froneman, left, and chairman Sello Moloko, centre, ring the closing bell at the New York Stock Exchange. Photo: Mary Altaffer/AP/SIPA

South Africa's Sibanye Gold took a major step outside its home market on Friday with a $2.2bn cash bid for Stillwater Mining, the only US miner of platinum and palladium.

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Malawi: Thirsty for power, hungry for food

The Illovo sugar plant is Malawi’s largest consumer of electricity; it uses it to pump water. Photo by Mark Olalde for TAR

Malawi’s government is faced with a dilemma: how to find the balance between using Lake Malawi’s water to drive turbines and to irrigate the land

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South Africa's FirstRand closed Gupta accounts on money-laundering fears

In this photo taken in September 2010 Atul Gupta is seen outside magistrates courts in Johannesburg. Photo: AP/SIPASouth African lender FirstRand said on Monday suspicions of money-laundering lay behind its decision to cut ties with a business family linked to allegations of influence-peddling in President Jacob Zuma's government.

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Mozambique bondholders call debt-restructuring deadline a "pipe dream"

A bronze statue of former Mozambican president Samora Machel looms in the capital Maputo. Photo: Christopher Torchia/AP/SIPADebt-ridden Mozambique has no chance of meeting its year-end deadline for a restructuring deal, according to investors who are preparing to dig in their heels until the country comes clear on what it owes and to whom.

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South Africa's Gordhan orders inquiry into tax agency

SA Finance Minister Pravin Gordhan delivers the midterm budget speech inside Parliament in Cape Town, South Africa, Oct. 26, 2016. Photo: Rodger Bosch/AP/SIPASouth African Finance Minister Pravin Gordhan has ordered an investigation into the tax collection authority, officials told parliament on Thursday, underlining rising tensions between the Treasury and the revenue agency.

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