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Following the ANC government’s reaffirmed stance of non-alignment on Russia’s invasion of Ukraine, South Africa’s central bank has issued a stern warning about the potential ramifications of sanctions.
Africa’s largest asset manager, the PIC is backing a possible bid led by the former chief executive of Telkom Ltd for a 35% stake in the telecoms giant.
The BRICS group of emerging markets — Brazil, Russia, India and China, with South Africa added later — has gone from a slogan dreamed up at an investment bank to a real-world club that also controls a major development bank.
South African President Cyril Ramaphosa allocated a range of powers to his electricity minister to help address the nation’s energy crisis, almost three months after appointing him.
President Cyril Ramaphosa has signed a proclamation transferring certain powers and functions related to the Electricity Regulation Act (Act No 4 of 2006) to the newly appointed Minister of Electricity, Dr Kgosientsho Ramokgopa.
South Africa’s central bank is reluctant to pivot away from policy tightening after raising its benchmark interest rate into restrictive territory amid rand weakness and government missteps that continue to fuel inflation.
South Africa’s central bank raised rates to the highest level in 14 years to rein in inflation expectations in an economy that’s expected to barely grow this year.
South Africa is prepared for legal fights with environmental groups over the government’s plans to use ship-mounted power plants to resolve the nation’s blackout crisis.
David Masondo was guest of honour at last night’s opening of RMB’s office in New York and delivered an admirable speech.
Telkom SA SOC, South Africa’s third-largest telecommunications company, plunged by as much as 30% after warning of a potential asset writedown of about 13 billion rand ($679 million) — the equivalent to almost its entire market value.