NewsSouthern Africa

Sat,18Nov2017

Southern Africa

McKinsey worked with S.African firm after learning of Gupta links: sources

In this photo taken in September 2010 Atul Gupta is seen outside magistrates courts in Johannesburg. Photo: AP/SIPAGlobal consultancy McKinsey worked with a firm in South Africa for four months after learning it was controlled by the Gupta brothers, business friends of President Jacob Zuma accused of corruption, four sources familiar with the deal said.

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S.Africa's Sibanye confirms over 2,000 layoffs at gold mines

Feb. 20, 2014 - miners are photographed underground at the South Deep gold mine south of Johannesburg.Photo: Themba Hadebe/AP/SIPASouth African precious metals producer Sibanye-Stillwater confirmed on Wednesday that it had laid off more than 2,000 gold miners as it shuts its loss-making Cooke shafts where illegal mining syndicates have plagued its operations.

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South Africa nuclear regulator says expects plant site licence in June

SA's only existing nuclear site,  Koeberg nuclear power station is seen on the outskirts of Cape Town, South Africa, Feb 8, 2012. Photo: Schalk van Zuydam/AP/SIPASouth Africa's nuclear regulator said on Tuesday that an installation site licence would likely be granted in June for a nuclear power plant that the finance minister has said Africa's most advanced economy cannot afford.

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Barclays Africa and Standard Bank drop Mckinsey amid SA scandal

September 2010: Atul Gupta is seen outside magistrates courts in Johannesburg. The wealthy Gupta family has been criticized or allegedly improper links to president Jacob Zuma.Photo: AP/SIPABarclays Africa Group is ending its relationship with McKinsey, the bank said on Monday, two weeks after the global consultancy apologised for errors it made while working with state power utility Eskom last year.

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Zimbabwe to cut budget deficit by half in 2018: Treasury

Zimbabwean President Robert Mugabe shares a light moment during his meeting with South African President Jacob Zuma in Pretoria, South Africa, Oct. 3, 2017. Photo: Themba Hadebe/AP/SIPAZimbabwe expects to cut its budget deficit by half next year to 4 percent of gross domestic product, while economic growth will slow down to 3 percent, according to a treasury document seen by Reuters on Tuesday.

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South Africa's cabinet changes rattle bonds, rand extends losses

ANC President Jacob Zuma gestures during a news conference on the eve of a parliamentary vote, in Johannesburg, South Africa, April 21, 2009. Photo: DENIS FARRELL/AP/SIPASouth African government bonds weakened and the rand extended losses against the dollar on Tuesday after President Jacob Zuma reshuffled his cabinet and the weekly bond auction failed to attract strong demand.

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