NewsSouthern Africa

Tue,24Jan2017

Southern Africa

'We are tired of being taken for granted': Caught in the crossfire of South Africa's money wars

The Democratic Alliance's dream team in Johannesburg: mayor Herman Mashaba and opposition leader Mmusi Maimane. Photo: Marco Longari/AFPAfter losing control of several major cities in August’s local elections, the governing ANC is grappling with its loss of influence and control over spending.

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South Africa's rand steadies after deputy president, business back Gordhan

South African rand notes. Photo: Siphiwe Sibeko/ReutersSouth Africa's rand rallied more than 1% on Monday as political pressure on finance minister Pravin Gordhan eased and commodity prices steadied, lifting the currency further away from a one-month trough.

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South African finance minister's affidavit details $490m in Gupta transactions reported as suspicious

South Africa's finance minister Pravin Gordhan reacts during a media briefing in Johannesburg. Photo: Siphiwe Sibeko/ReutersSouth African finance minister Pravin Gordhan has revealed in a court affidavit distributed by the Treasury on Sunday that 6.8bn rand ($490m) in payments made by wealthy brothers Ajay, Atul and Rajesh Gupta, companies they control, and other individuals with the same surname have been reported to authorities as suspicious since 2012.

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Gordhan court summons panics rand

South Africa's finance minister Pravin Gordhan/AP

 

South Africa's finance minister Pravin Gordhan has been summoned to court by the National Prosecuting Authority (NPA) on fraud charges, roiling markets and pushing the rand into free fall.

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A day in the life: 'I started my first business at age 18'

All rights reserved In Zambia, 21-year-old entrepreneur Njavwa Mutambo co-founded a logistics startup with the help of the Tony Elumelu Foundation and incubator BongoHive.

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South Africa's MTN taps fixed income market for $1bn

An MTN office compound in Lagos, Nigeria. Photo: Sunday Alamba/AP/SIPASouth Africa's MTN has raised $1bn in two dollar bonds, the telecoms firm said on Thursday, the first such issue by Africa's biggest wireless carrier by sales since 2014.

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