NewsSouthern Africa

Wed,12Dec2018

Southern Africa

South Africa needs to bail out Eskom, says former Eskom adviser Rothschild

Windmills generating electricity for South Africa's electric company Eskom- Credits: AP Photo/Schalk van Zuydam

The South African government needs to "bite the bullet" and bail out struggling state-run power firm Eskom, which has asked for 100 billion rand ($7 billion) in government support

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Day in the life: Samuel Muzimbi

Lidudumalingani MqombothiSamuel Muzimbi’s makeshift stand, hung with his self-made shoes and accessories, has been a landmark in Melville, Johannesburg, for 11 years

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Steinhoff shares tumble after accounts, PwC probe delayed

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. (AP Photo/Denis   A probe into accounting irregularities at Steinhoff International and the release of the retailer's restated results have been delayed, it said on Thursday, sending its shares down as much as 21 percent.

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South Africa's Eskom wants state to take on $7.2 bln of its debt

People walk below power pylons at Hartebeespoort, South Africa, Friday Nov. 25, 2011. Photo: Denis Farrell/AP/SIPASouth Africa's struggling state-run power firm Eskom wants the government to take on 100 billion rand ($7.2 billion) of its debt to shore up its balance sheet, Eskom Chairman Jabu Mabuza told the Business Day newspaper.

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Zimbabwe to allow two new companies to mine diamonds

 in this file photo taken Wednesday, Nov. 1, 2006, illegal miners dig for diamonds in Marange, Zimbabwe. Photo:  AP Photo/Tsvangirayi Mukwazhi, Zimbabwe will now allow two more private companies to explore and mine diamonds in the country, bringing to four the number of firms that will operate in the sector, mines minister Winston Chitando has said.

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South Africa's economy out of recession as GDP expands 2.2 pct in Q3

04122018SouthAfricaSouth Africa's economy grew more than expected in the third quarter as manufacturing and agriculture accelerated to drag the country of its first recession in nearly a decade, data showed Tuesday.

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