Eskom Will Continue to be Owned by Government

By SAPeople Contributor 26-11-19 18:51

President Cyril Ramaphosa has reiterated that the South African government’s attempts to reconfigure and split Eskom into three divisions is not aimed at privatising the embattled power utility. These measures, he said, are rather aimed at stabilising the utility and getting it back on its feet. “We are not going to privatise Eskom,” he said, […]

Checkers

South Africa’s Checkers Supermarket Promises to Deliver Groceries in an Hour

By Reuters 26-11-19 10:02

South African supermarket chain Checkers, owned by Shoprite Holdings, is looking to grab a larger share of the growing online shopping market by pioneering a new one-hour grocery delivery service named Sixty60. It is South Africa’s first 60-minute mobile app grocery delivery service from a supermarket chain, Checkers says, as it looks to respond to […]

South Africa at Risk if Economic Reforms Don't Materialise Fast Says IMF

South Africa at Risk if Economic Reforms Don’t Materialise Fast Says IMF

By Reuters 26-11-19 09:55

JOHANNESBURG – South Africa faces a prolonged period of weak economic growth marked by rising unemployment, inequality and greater credit-rating risk if the government does not act fast to implement reforms, the International Monetary Fund (IMF) said on Monday. “The FY20/21 budget to be presented in February should articulate measures to address fiscal and SOE […]

South Africa’s Rand Rises on S&P Ratings Reprieve

By Reuters 25-11-19 10:31

South Africa’s rand firmed in early trade on Monday, as traders continued to chase the high yield offered by local assets after S&P Global Ratings decided to downgrade the country’s credit outlook instead of lowering its sovereign rating. The rand was 0.41% firmer at 14.6750 per dollar by 0620 GMT, compared with an opening level […]

A view shows the Standard & Poor's building in New York's financial district

S&P Downgrades South Africa’s Outlook to Negative

By SAPeople 23-11-19 16:52

S&P Global on Friday downgraded its outlook for South Africa’s credit rating to negative, citing weak pace of economic growth, mounting government debt burden and liabilities related to the country’s energy utility, Eskom. The downgrade significantly increases the probability of a downgrade in the sovereign rating of Africa’s most industrialized economy. South Africa is already […]

tesla caravan bakkie

Elon Musk’s New Cybertruck Shows His Pretoria Roots, Say South Africans

By SAPeople 17-12-20 18:44

Elon Musk’s launch of his Tesla Inc futuristic Cybertruck pickup suffered a setback when its “armoured glass” windows shattered during a presentation, but it was the overall look of the car that attracted the most comments and worried Wall Street on Friday… with the company’s shares falling more than 6%. Online critics made fun of […]

saa tough decisions

SAA Wage Dispute with Striking Unions Resolved

By Reuters 22-11-19 15:25

JOHANNESBURG – South African Airways (SAA) reached a deal on wages with two striking unions on Friday to end an eight-day strike at the state airline. Already reliant on government handouts to survive, SAA had to suspend hundreds of flights after the South African Cabin Crew Association (SACCA) and the National Union of Metalworkers South […]

south african airways into business rescue phillip saunders

South African Airways Signs Wage Deal with NTM Union

By Reuters 22-11-19 11:18

South Africa‘s National Transport Movement (NTM) on Friday signed a wage deal with South African Airways (SAA) for a 5.9% pay rise for the 2019/20 financial year that started in April, according to a copy of the deal seen by Reuters. NTM is one of the largest unions at state-owned SAA, but its members are not participating in […]

saa rescue solidarity court case

South Africa Union Files Court Case to Force SAA Rescue

By Reuters 21-11-19 13:13

JOHANNESBURG – A South African union filed a case on Thursday asking a court to subject the distressed state-owned airline SAA to a business rescue, with the aim of restoring it to profitability. Solidarity, which mostly represents white, Afrikaans-speaking employees, said it would “mean that the court can appoint a business rescue practitioner with comprehensive […]

auditor general south africa

Call for Action to Prevent Mismanagement of Public Purse in South Africa

By SAPeople 21-11-19 12:06

Auditor General Kimi Makwetu has called on government leaders to take urgent action to halt the trend of disappointing audit results, restore accountability and prevent mismanagement of public funds. Releasing the 2018-19 general report for national and provincial departments as well as their entities, Makwetu said political leaders, accounting officers, authorities and oversight structures must […]

An aircraft from South African low cost airline Kulula takes off from Cape Town International airport

Strike Certificate Issued at South Africa’s Comair. SAA Risks Liquidation

By Reuters 20-11-19 11:17

JOHANNESBURG – A strike certificate has been issued at South African airline Comair as part of a secondary strike against South African Airways, a spokeswoman for the National Union of Metalworkers South Africa said on Wednesday. Two unions that called a crippling strike at SAA said on Sunday they would pursue a secondary strike to […]

south african airways strike

Hundreds of South African Airways Employees Return to Work Despite Strike

By Guest Contributor 19-11-19 17:00

A few hundred South African Airways (SAA) employees have returned to work despite a strike, allowing the airline to resume some regional flights, acting Chief Executive Zuks Ramasia said on Tuesday. SAA is currently operating all its international and some of its regional flights and domestic services. These services are being carried out by sister airline Mango, […]

British lawmaker Peter Hain

UK’s Hain Blames HSBC, Stanchart, Baroda in South African Corruption

By Reuters 18-11-19 15:28

JOHANNESBURG – Corruption under South Africa’s former president Jacob Zuma was enabled by international banks, companies and governments which should now seek to recover the loot they helped to launder, British lawmaker Peter Hain told an inquiry on Monday. HSBC, Standard Chartered and India’s Bank of Baroda as well as their senior directors were “directly […]

south african airways saa

South Africa’s SAA to Resume Some Regional Flights, Cancel Domestic

By Reuters 18-11-19 15:05

JOHANNESBURG – South African Airways (SAA) said on Monday it would resume flights to six African destinations but cancel some domestic flights in the next two days, as not all unions had joined a strike over wages currently in its fourth day. State-owned SAA has cancelled hundreds of flights since the strike began on Friday, […]

south-african-barista-wins-best-in-world

South African Crowned 2019 EMEA Barista Champion

By SAPeople Contributor 18-11-19 16:28

An inspiring South African barista from Durban – Teddy Nzama – has scooped the title of 2019 EMEA Barista Champion. In a press statement, Starbucks said: “After an intense three days of competition, 30 finalists – each of them already National Champions in their home markets – battled through coffee skills tests and demonstrated their […]

British lawmaker Peter Hain

UK Lawmaker Will Cast Blame on Global Banks in Zuma Corruption in South Africa

By Reuters 18-11-19 11:47

JOHANNESBURG – British lawmaker Peter Hain will tell an inquiry on Monday that corruption under South Africa’s former president Jacob Zuma was enabled by international banks, corporations and governments which should now seek to recover the loot they helped launder. Hain’s submission on Monday to the Judicial Commission of Inquiry into State Capture, part of […]

Deserted counters are seen as South African Airways (SAA) workers downed tools on Friday in a strike over wages and job cuts, at Cape Town International Airport in Cape Town

Unions Threaten to Ground South Africa’s Entire Aviation Industry

By Reuters 18-11-19 01:02

JOHANNESBURG – Striking unions threatened to shut down South Africa’s entire aviation industry on Sunday by extending industrial action beyond state-run South African Airways. SAA has cancelled hundreds of flights since the strike began on Friday, saying the stoppage is costing 50 million rand ($3.36 million) per day and jeopardising talks with lenders around much-needed […]

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