NewsSouthern Africa

Mon,11Dec2017

Southern Africa

South Africa to woo investors at IMF meetings

Malusi Gigaba at a news conference in Pretoria, South Africa, March 31, 2017. Photo: AP/SIPASouth Africa's Finance Minister Malusi Gigaba and central bank governor Lesetja Kganyago head to Washington this weekend to meet ratings agencies and international investors in a bid to boost growth in an economy that is emerging from recession.

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Sub-Saharan Africa to grow at a slower rate this year, World Bank says

Pedestrians shop at a busy Balogun Market in Lagos, Nigeria, Sept. 5, 2017. Photo: Sunday Alamba/AP/SIPAEconomic growth in sub-Saharan Africa is expected to be 2.4 percent in 2017, the World Bank said on Wednesday, down from the 2.6 percent projected in April.

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IMF says Zambia public debt rising at unsustainable pace

A woman sits in front of an IMF logo at the venue of the IMF and World Bank meeting, Oct. 10, 2012. Photo: Itsuo Inouye/AP/SIPAZambia's public debt is growing unsustainably, making the economy of Africa's No. 2 copper producer vulnerable to market swings and reversals in capital flows, the International Monetary Fund (IMF) said on Tuesday.

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Scandal-hit KPMG South Africa vows reforms, loses another client

Logo of KPMG pictured in Berlin, Germany, June 22, 2017. Photo: Michael Sohn/AP/SIPASouth African waste management company Interwaste fired KPMG as its auditor on Thursday, dealing another blow to the accounting firm ensnared in a scandal involving business friends of President Jacob Zuma.

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Cost cuts help Wal-Mart's South African arm Massmart

 Walmart sign on June 1, 2017, in Hialeah Gardens, Florida, USA. Photo: Alan Diaz/AP/SIPAMassmart Holdings Ltd, the South African arm of Wal-Mart, reported a small rise in half-year earnings on Thursday, helped by cost cuts as cash-strapped shoppers spent warily.

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South Africa's Guptas to sell media stakes in bid to "clear name"

Atul Gupta is seen outside magistrates courts in Johannesburg, South Africa, Sept 2010. Photo: AP/SIPAThe main company owned by South Africa's Gupta brothers, business friends of President Jacob Zuma, said on Monday it would sell its media assets - investments caught up in an influence-peddling scandal.

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