NewsSouthern Africa

Tue,24Jan2017

Southern Africa

South Africa's Shoprite loses long-serving CEO to retirement

A shopper is seen outside a Shoprite store in Johannesburg. Photo: Siphiwe Sibeko/ReutersThe chief executive of Shoprite will retire in December, the company said on Monday, ending his nearly four decades at the helm of the supermarket group he transformed from a eight-store start-up into an $8bn behemoth.

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Foreign investment in Mauritius jumps by 69% in first half of 2016

The skyline of Mauritius's capital Port Louis is dominated by the Bank of Mauritius Tower. Photo: Wikipedia CommonsForeign direct investment in Mauritius grew 69% year-on-year in the first half of 2016, to 7.96bn rupees ($222m), driven by real estate, financial services and manufacturing, the board of investment said on Thursday.

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South Africa cuts growth forecast, calls for political stability

South Africa's Finance Minister Pravin Gordhan delivers his 2016 budget address to the parliament. Photo: Mike Hutchings/ReutersSouth Africa's treasury on Wednesday slashed this year's growth forecast and predicted a wider budget deficit for the 2016/17 fiscal year, warning that it would have to cut spending to avoid credit rating downgrades.

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Zimbabwe’s Mujuru: We don’t want to look like we’ll cause a coup

Zimbabwe’s opposition parties are coming together, says Joice Mujuru who is head of the Zimbabwe People First party. Photo: Chatham HouseFormer ruling-party baron Joice Mujuru is now the leader of Zimbabwe People First, a new opposition party that is seeking to work with others to get key concessions before elections in 2018.

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Total, Glencore and Gunvor bidding for Chevron's South African assets

The logo of French oil giant Total is pictured at the entrance of the CSTJF Total Research Center in Pau, France. Photo: Regis Duvignau/ReutersTotal, Glencore and Gunvor are bidding for a 75% stake in Chevron's South African downstream assets, which include a refinery, three industry sources told Reuters on Tuesday.

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South Africa to withdraw from International Criminal Court

The new headquarters of the International Criminal Court in The Hague, Netherlands. Photo: Mike Corder/AP/SIPASouth Africa has said it will withdraw from the International Criminal Court (ICC) because its obligations to the body are "incompatible" with its domestic laws.

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