One South African airline’s loss is another African airline’s very valuable gain, it seems. Mango, the low-cost sister airline to South African Airways, is losing its CEO Nico Bezuidenhout, who many credit with the airline’s success while SAA stumbles from crisis to crisis. He is moving to the six-year-old African low-cost carrier fastjet, where he will also be CEO. […]

Following the decisions by ratings agencies Standard & Poor’s and Moody’s over the past weeks to not downgrade South Africa to junk status, the third important ratings agency Fitch today followed suit. The rand, which has rollercoastered over the last five months, reaching a low of almost R18 to the dollar in January, firmed even […]

Judging by the looks on the faces of President Jacob Zuma and Minister of Finance Pravin Gordhan, there’s a lot to smile about regarding the state of South Africa’s economy. The two politicians, and their teams, met today to discuss the economy. The Presidency’s office released these photos (on this page) of the meeting. The South […]

The possibility of a direct air link between the United States and Cape Town seems to be hotting up after discussions between key players, according to news reports on Monday. The city in the US most mentioned in reports for a direct flight to Cape Town seems to be Miami, Florida, which is on the east coast […]

Pretoria – South Africans are celebrating this evening as ratings agency Standard & Poor’s have announced that South Africa’s credit rating will be kept unchanged at investment grade, averting junk status. South Africans had been counting down the hours to the announcement although Finance Minister, Pravin Gordhan, had said he believed the country had done enough to pass […]

Cape Town’s well-known adventure park and scary-ride central Ratanga Junction will close and be replaced by a R1 billion development in the successful Century City precinct, according to news reports on Wednesday. The 20-hectare theme park would close by 2018, a spokeswoman for the Rabie property group, developers of Century City, was quoted saying. The […]

The Western Cape has received the highest percentage of clean audits of its municipalities, scoring 73 percent, with the next-nearest provinces, Gauteng and KwaZulu-Natal, getting 30 percent or just over, according to a report by the auditor general released on Wednesday. “Today’s release of the Auditor-General’s (A-G) audit report into municipal financial management for 2014/15 […]

Standard Bank has been the victim of a major fraud in Japan, where 1.4 billion yen (R200 million) in cash was stolen from some 1,400 ATMs in convenience stores across Japan over a short period earlier this month, it has been reported. According to Business Day on Monday, Standard Bank confirmed that it was the bank referred to in a story […]

If you’re a globetrotter into fine dining, consider making your next destination Cape Town and its outlying Winelands, where an innovative eight-course tasting menu paired with wines will cost you about $60 to $80 for lunch, and $85 to $105 for dinner. Thanks to the dollar’s strength in South Africa, Americans are in for a […]

Cape Town and Johannesburg are the cheapest cities in the world to buy cigarettes and beer, beaten only by Manilla in the Philippines, according to an annual Sin Index done by Deutsche Bank. According to the survey, the most expensive city is Melbourne, Australia, where five beers and a pack of smokes costs $65 (R1,016). Cape Town and […]

U.S. health officials announced on Wednesday that an experimental AIDS vaccine that has worked better than anything else so far will undergo “largescale” testing in South Africa – “where HIV is more pervasive than anywhere else in the world” – from November, the first such test in seven years. In its statement, the National Institutes of Health, […]

President Jacob Zuma, accompanied by Dr Nkosazana Dlamini-Zuma, arrived in Doha, Qatar, on Wednesday for a State Visit. (Both are seen in the photo below arriving at Hamad International Airport). The visit is intended to strengthen and elevate bilateral relations between South Africa and the State of Qatar. According to a statement from the Presidency, these […]

On the same day that President Jacob Zuma lashed out at the Democratic Alliance in parliament that he “never lied” about Nkandla (see video below), the DA posted a graphic of how much Zuma has cost the country during his term in office. The DA graphic on Tuesday shows that GDP growth from 2009 has […]

The same day that the Sunday Times has come out with a report that Finance Minister Pravin Gordhan could be arrested very soon by the Hawks, the president’s office released a statement condemning the media for speculating that cabinet ministers are about to be fired. “Ministers serve at the pleasure of the President,” the statement […]

ShowMax, the entertainment streaming service owned by South Africa’s Naspers is now also available in 36 countries in Africa, the company said on Friday. ShowMax, a cheaper alternative to Netflix (R99 versus $7.99 or R123) – with arguably a better selection of content, since it offers popular US shows from the HBO channel such as “Game of Thrones”, […]

The international ratings agency Moody’s has given Cape Town the highest possible credit rating, the city said on Thursday. At the same time Moody’s raised some of the ratings for Johannesburg. Cape Town now has the highest possible level of credit quality within the national context, the city said. The cities’ ratings are different from the country’s rating, which […]

Rwanda, the home this year of the World Economic Forum Africa, taking place this week, is sometimes known as the Switzerland of Africa, and – with good reason, after its numerous successes – it sells itself as “Remarkable Rwanda”. The capital is Kigali, and the country is often referred to as Land of a Thousand […]

Eskom CEO Brian Molefe said on Thursday no more load shedding was anticipated in South Africa through summer of 2017, except for planned maintenance. Addressing the media in a quarterly State of the System briefing, Molefe said there had been no load shedding since August 2015. He said that capacity was being progressively added, and several […]

In 2014 South Africa, which had been Africa’s biggest economy, slipped to second place behind Nigeria, and new figures suggest it has now slipped another notch – coming third behind Nigeria and Egypt. According to statistics released by the International Monetary Fund on Wednesday, Egypt’s GDP has been growing steadily at over two percent the last […]

Africa loses at least $50 billion a year — and probably much, much more than that — perfectly lawfully. About 60 percent of this loss is from aggressive tax avoidance by multinational corporations, which organise their accounts so that they make their profits in tax havens, where they pay little or no tax. Much of the remainder […]

Eskom has signed a 20-year power purchase agreement with French multinational electricity company Engie to start construction of the Kathu Solar Park project in Northern Cape, it has been announced. It is expected to be operational in late 2018, providing 100 MW of power. “The Kathu Solar Park project supports South Africa’s strategy of increasing the […]

DUBAI – Investec Bank, a lender in the aviation market, has closed a $1 billion operating lease transaction with Emirates Airline, it said on Monday. The deal will pay for the delivery and sale and leaseback of four A380-800s, the world’s largest passenger jet, Investec said in a statement. Investec Aviation Finance has around $5 […]

While Johannesburg and Cape Town attract a growing number of new residents daily, they do not come anywhere near the explosive growth taking place in other parts of Africa. A recent report published by the World Economic Forum – which has its Africa summit in Kigali, Rwanda, from Wednesday – listed the three cities in Africa with a population […]

Government has welcomed the ratings agency Moody’s announcement confirming South Africa’s long-term government bond and issuer ratings, after months of speculation that the country could be downgraded to junk status. The department of finance has reportedly been going out of its way to show the international ratings agencies it is committed to fiscal responsibility since late […]

When Laduma Ngxokolo’s mother Lindelwa taught him to knit, she sparked a love of fashion that inspired him to become a designer. Today her son’s collections are showcased on the catwalks of Europe’s fashion capitals. And earlier this year he walked away with the Most Beautiful Object in South Africa Award at the 2016 Design […]