NewsSouthern Africa

Fri,14Dec2018

Southern Africa

Steinhoff asks creditors for restructuring extension

A shopper takes his shopping cart along one of the wide walk-ways at the newly-opened Mall of Africa in Midrand, South Africa, Thursday April 28, 2016. Photo: Denis farrell/AP/SIPASouth African retailer Steinhoff, has asked creditors for a one-month extension relating to its debt restructuring as it negotiates documents required to implement the plan, it said on Monday.

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South Africa's Exxaro looks to fill Eskom coal shortage

 Nov. 21, 2011, the cooling towers at Eskom's coal-powered Lethabo power station are seen near Sasolburg, South Africa. Photo: AP Photo/Denis South African miner Exxaro Resources said on Friday it was looking to supply coal to state-owned power utility Eskom, which has been hit by supply shortages, posing a threat to the power supply in Africa's most industrialised economy.

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World Bank cuts Sub-Saharan Africa growth forecast

 
 

Pedestrians shop at a busy Balogun Market in Lagos, Nigeria, Tuesday, Sept. 5, 2017. Photo:Sunday Alamba/AP/SIPA. Economic growth needs to be boosted in Nigeria, South Africa and Angola. The World Bank has dropped its 2018 economic growth forecast for Sub-Saharan Africa, partly blaming sluggish growth in some of the region's bigger economies.

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South Africa finance minister's IMF trip eases fears over his future

South Africa Finance Minister Nhlanhla Nene, left, delivers the annual South Africa budget speech to Parliament in Cape Town, South Africa, Wednesday, Feb. 25, 2015.Photo: AP Photo/Schalk van ZuydamSouth Africa's finance minister is traveling to Indonesia for an International Monetary Fund (IMF) meeting, the Treasury said on Tuesday, a statement that may soothe markets a day after a media report that he had asked the president to sack him.

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South Africa banks: ITV - Capitec Bank

CapitecCapitec Bank, the growing rival to the ‘big four’

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South Africa banking: start-up shake-up

 

monoliths of the South African banking landscape: Absa; Standard Bank and First National Bank. Photo: Mike Hutchings/ReutersSouth Africa is 'a marketplace without boundaries', says PwC, and new niche players are limbering up to compete with the country's top banks by offering digital, lower-cost financial services

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