NewsSouthern Africa

Sun,19Nov2017

Southern Africa

South Africa's rand, bonds firmer as downgrade fears fade

A worker at the Stock Exchange in Johannesburg, South Africa, April 4, 2017. Photo: Denis farrell/AP/SIPASouth Africa's rand firmed on Monday, buoyed by Moody's decision to delay ratings decision on the sovereign that was scheduled for last Friday.

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Old Mutual to list not sell businesses next year in break-up

Old Mutual will list Old Mutual Wealth in London.This photo shows the outside of the London Stock Exchange. Photo: ALASTAIR GRANT/AP/SIPAAnglo-South African financial services group Old Mutual aims to list two divisions rather than sell them as it pursues a plan to split into four parts by the end of next year.

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South African's Eskom to sell more surplus power in major turnaround

Electricity pylons cross the skyline of Johannesburg city, March 2015. Photo: Themba Hadebe/AP/SIPASouth African power utility Eskom is to start selling more of its surplus capacity as new plants come on line, its acting chief executive said on Thursday, marking a shift from two years ago when the company had to conserve power because of shortages.

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South Africa's business confidence climbs to 5-month high in July

SA President Jacob Zuma arrives for the G-20 summit in Hamburg, July 6, 2017. A no-confidence vote against Zuma in SA has dampened investment in the country. Photo: Markus Schreiber/AP/SIPASouth Africa's business confidence climbed to its highest level in five months in July helped by a firmer currency, falling inflation and an increase in vehicle sales, a survey showed on Tuesday.

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China to lend Zambia over $280 million to improve telecoms

A man walks near a logo at a R&D center of Huawei Technologies Inc. in Wuhan, in central China's Hubei province. Photo: AP/SIPAChina will lend Zambia $282 million to improve the nation's telecommunications infrastructure and increase mobile phone usage over three years, the Chinese ambassador said on Friday.

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South Africa considering $1 billion bailout for national carrier

An SAA plane is parked at the end of the runway after returning to the airport in Cape Town, South Africa, June 17, 2006. Photo: CLARENCE MULLER/AP/SIPASouth Africa's Treasury is considering a $972 million bailout to keep South African Airways (SAA) going as it battles a mounting cash crunch, Finance Minister Malusi Gigaba said on Friday.

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