JOHANNESBURG (Reuters) – South Africa’s Treasury and state-owned Eskom clashed on Monday over a probe into coal contracts between the power utility and a company linked to the wealthy Gupta family that is accused of holding undue political sway over President Jacob Zuma. The row further scarred relations in a government rocked by a police […]

JOHANNESBURG – In what is becoming a conversation through the media, the Gupta Family has responded to statements made on Sunday by Democratic Alliance (DA) Shadow Minister, David Maynier… warning that this media narrative being metered out by Maynier “without any basis of wrong-doing” could put others off investing in South Africa. Following the Gupta Family […]

South African opposition parties, the Democratic Alliance (DA) and the Economic Freedom Fighters (EFF), have both welcomed the news that the Gupta family will exit their shareholding in all their businesses in SA by the end of 2016. The EFF said it welcomed the news “with caution”, whilst the DA said the family’s claim that […]

JOHANNESBURG – The Guptas – who are believed to have a close relationship with President Jacob Zuma – have announced their intention to sell shareholding in all South African businesses by the end of 2016. Following their earlier statement today about newspaper reports of alleged comments made by Finance Minister Pravin Gordhan, accusing the Gupta […]

JOHANNESBURG – In response to an article in News24 yesterday – headlined “Guptas are attacking me, Gordhan tells Treasury staff” – the Gupta Family has issued a statement expressing “deep disappointment”; and claiming they firmly believe in the rule of law and are happy to answer to any and all allegations made against them. The News24 article claimed that […]

The local elections ten days ago sent loud signals to all but the stone deaf, of which there remain many. Compared to previous national jousts, many walked away from the ANC, NFP or Cope; many of whom elected then to vote DA, EFF or IFP. Or stayed away in disgust. But in 27 municipalities (10% […]

PRETORIA – South Africa’s strengthening rand has made a contribution to the country regaining the title of the continent’s largest economy in nominal terms. “The positives are [attributable] to the global background and the fact that the recent elections were free and fair,” Standard Bank economist Kim Silberman told SAnews on Thursday. South Africa last held […]

The SA Post Office, which has been attempting a massive turnaround after being crippled by debt and poor service, has raised a loan of R3.7 billion locally and has got the greenlight from the Reserve Bank to start a bank, according to a media conference on Friday, Minister of Telecommunications and Post Services Siyabonga CweleHe said the briefing was […]

Cape Town has come in 10th out of the world’s top 15 cities named in the 2016 Travel & Leisure magazine awards, and is the top city in Africa and the Middle East. Although it was higher than Rome in the top 15, it came off below Florence. The No. 1 city was Charleston, South […]

The first passenger flights to the remote island of St Helena – flying out of Johannesburg – were meant to start in May. At the same time, the famous ship the RMS St Helena announced that its last trip to the island would take place in June. Neither has happened. St Helena, where Napoleon was exiled, […]

Protein supplements have become a widely popular way for avid gym-goers to pump extra protein into their bodies and bump up their muscles. Protein is essential for the overall health of the body, building and repairing its tissues and balancing the levels of energy, hormones and many other chemicals. It’s also central in building muscles […]

Well-known South African casting director Moonyeenn Lee is the first South African to be included on the panel of movie people around the world who will chose the next Oscar winners. The Academy of Motion Pictures Arts and Sciences, which presides over the annual Oscars, named its 683 new panel members last week. It has been a […]

JOHANNESBURG – Delays have been experienced at OR Tambo International Airport because of the rollout of the new biometric system to collect data on people arriving and leaving South Africa. Reports on Friday said that delays at the Johannesburg airport were up to two hours long, although no reports have been received from the weekend. Chris Zweigenthal of […]

The South African population has grown to 55.65 million in the past five years, according to the latest survey by the department of statistics. In the Community Survey figures released on Thursday, Statistics South Africa said the population grew from 51,770,560 in 2011 to 55,653,654, about 3.88 million. There are 27,247,226 males and in 28,406,428 females. The population […]

WASHINGTON – A fatal accident in which the driver of a Tesla Motors Inc Model S car operating in Autopilot mode was killed in a collision with a truck has prompted an investigation by federal highway safety regulators, the U.S. government and Tesla disclosed on Thursday. The investigation of the first known fatality to involve […]

JOHANNESBURG – South Africa cleared Anheuser-Busch Inbev’s $100 billion-plus deal to acquire SABMiller on Thursday, putting the world’s largest brewer “on track” to complete the merger within the next six months. The Competition Tribunal, which gives the final word on mergers in Africa’s most industrialised country, said in a statement that concessions made by AB […]

American multinational General Electric (GE) has invested R500 million in its GE Africa Innovation Centre in Rosebank, Johannesburg, the tenth innovation hub set up globally but a first for GE in Africa. The 2,700 square-metre facility, which was 90 percent designed, built and executed in the country, houses GE’s innovation across Africa within its key business sectors […]

LONDON (Reuters) – Britain has voted to leave the European Union, results from Thursday’s referendum showed, a stunning repudiation of the nation’s elites that deals the biggest blow to the European project of greater unity since World War Two. World financial markets plunged as complete results showed a near 52-48 percent split for leaving. The […]

The South African Reserve Bank’s latest Quarterly Bulletin confirms that foreign corporations are milking South Africa. They are drawing away profits far faster than they are reinvesting or than local firms bring home offsetting profits from abroad. Can anything be done to stop the haemorrhaging? First, the appalling numbers. The country’s current account deficit fell […]

A magnificent house designed by South African group SAOTA and lying on the mountainside above Clifton Beach and Bantry Bay has reportedly sold for a record price for a residence in Africa – R290 million (almost $20 million). The seller, the Dogon Group, said last month the price was the highest ever fetched for a house […]

“I want you to get up right now. Go to your windows. Open them and stick your head out and yell: I’m as mad as hell and I’m not gonna take this anymore! Things have got to change. But first, you’ve gotta get mad! You’ve got to say, I’m as mad as hell, and I’m […]

South Africa has narrowly survived a downgrade of the rating of its government bonds. The reprieve, however, is temporary because government has been warned by the Big Three rating agencies – Fitch, Moody’s and Standard & Poor’s – to pull up its socks. South Africa’s current rating – just about investment grade, heading south fast […]

JOHANNESBURG – South African mobile phone operator MTN Group named the head of Vodafone Europe as its new CEO on Monday, bringing in an outsider with a risk management background less than two weeks after it agreed to a $1.7 billion (£1.16 billion) fine to settle a dispute in Nigeria. Rob Shuter, a South African […]

The African National Congress delayed its announcement until late Saturday – almost till midnight – of its mayoral candidates, although the nominee for Tshwane, one of the metros the party could likely lose in the election, remains undecided. It was reported in the Sunday Times that Thoko Didiza, a cabinet minister under Thabo Mbeki who sometimes […]

In the latest allegation against the Gupta family – and the biggest  by far in rand terms – two reports this weekend allege that they, together with Duduzane Zuma, tried to capture South Africa’s main rail company and get it to accept a R51 billion tender. The letter, which was obtained by the investigative team at amaBhungane, […]