Carte Blanche: SA Life-Changing Brain Op Surgery, Christo Wiese and Tough Economy Knock-On Effects

By SAPeople Contributor 03-08-18 16:54

The South African medical field continues to perform pioneering surgeries… with this week’s Carte Blanche highlighting a brain surgery technique that’s changing lives. This week’s episode also looks at how South Africans are facing a challenging year! The programme investigated the knock-on effects of the core increases in our tough economy… with buying power slashed […]

South Africa’s Eskom Offers Investors Up to $1.5 Billion of 10-Year Bonds: Source

By Reuters 02-08-18 11:27

JOHANNESBURG (Reuters) – South Africa’s struggling state-owned power firm Eskom offered investors up to $1.5 billion of 10-year bonds on Thursday, a source familiar with the matter told Reuters. Separately, Eskom spokesman Khulu Phasiwe said Eskom was planning a foreign bond sale and that the firm’s chief executive and treasury team were currently on a […]

AfriForum Calls ANC Land Plan “Catastrophic”. Others Optimistic and Rand Bounces Back

By Reuters 01-08-18 19:43

JOHANNESBURG – South Africa’s white farmers on Wednesday criticised the ruling African National Congress’ (ANC) decision to endorse constitutional changes to allow the state to seize land without compensation, saying the move would be “catastrophic”. However, others have pointed out that President Cyril Ramaphosa has made it clear there will be “no Zimbabwe-style land seizures”, […]

Pravin Gordhan to Oversee South African Airways

By Jenni Baxter 01-08-18 18:54

President Cyril Ramaphosa has handed over the oversight of South African Airways (SAA) to his close ally, Pravin Gordhan, which many will see as a step in the right direction for the national airline. Ramaphosa on Wednesday transferred the responsibility of SAA from the Finance Ministry to the Public Enterprises Ministry, which is led by […]

What Taking the Land Means: ANC Grasps South Africa’s Most Emotive Issue

By Reuters 01-08-18 15:26

JOHANNESBURG – As we all now know, South Africa’s ruling African National Congress (ANC) is forging ahead with plans to change the constitution to allow the expropriation of land without compensation. President Cyril Ramaphosa made the announcement late on Tuesday in a televised address to the nation, underscoring the political significance of the move. The […]

Ramaphosa: South Africa to Amend Constitution for Land Expropriation. Rand Drops.

By Jenni Baxter 01-08-18 09:21

Following President Cyril Ramaphosa’s announcement last night that the African National Congress (ANC) will support a proposed amendment to the Constitution – allowing for land expropriation without compensation – the South African Rand has fallen. The Rand was trading at 13.3525 on Wednesday at 07h12 local time, 0.58% weaker than at close on Tuesday. Government […]

Ramaphosa Tells Putin South Africa Can’t Sign Nuclear Deal Yet

By Reuters 26-07-18 18:14

JOHANNESBURG – Russian President Vladimir Putin raised the issue of a nuclear power deal at a private meeting with South African President Cyril Ramaphosa in Johannesburg on Thursday, but his host said Pretoria could not sign such a deal for now, Ramaphosa’s spokeswoman said. “Our economy is stagnant, it is not growing at the rate […]

South Africa Opens Door to Future Russian Nuclear Power Deal

By Reuters 26-07-18 17:05

JOHANNESBURG – South Africa cannot afford large-scale expansion of its nuclear power fleet but would still be open to future nuclear deals with Russia, the ruling party’s Treasurer General said on Thursday shortly before President Vladimir Putin arrived for the BRICS summit. The nuclear project was prioritised by former President Jacob Zuma but new President […]

Rand Firms as China’s Xi Pledges $14.7 Billion to South Africa

By Jenni Baxter 25-07-18 00:52

President Cyril Ramaphosa’s mission to attract $100-billion in investment got a further boost on Tuesday when Chinese President Xi Jinping (who is visiting SA) promised $14.7 billion of investment! This comes hot on the heels of Saudi Arabia’s $10-billion pledge earlier this month, as well as the UAE’s $10-billion pledge – both made during the South African President’s […]

SAA Making Progress Already in Turnaround Plan

By Jenni Baxter 24-07-18 11:12

South African Airways (SAA) is pushing ahead and already making progress in implementing its turnaround plan to lead the airline to financial sustainability, the company announced on Monday. In a statement, South Africa’s national carrier said: “Over the past six months, SAA has been on roadshows to meet its major codeshare partners and other potential […]

BRICS’ $300 Million Loan for South Africa to Reduce Coal Pollution

By Reuters 24-07-18 10:29

JOHANNESBURG – The New Development Bank, set up by the BRICS group of emerging economies, has approved loans of $300 million for energy projects in South Africa. South Africa, which will host a BRICS summit later this week in Johannesburg, is trying to diversify its energy mix to reduce its reliance on heavily polluting coal-fired […]

South Africa’s Eskom Considers Staff Cuts, Asset Sales After HUGE Loss

By Reuters 23-07-18 21:11

Eskom says it is considering cutting staff and selling assets after reporting a massive $171 million loss which reveals the gravity of its financial position. (In Rands, the company reported a shocking loss of R2.3-billion for 2017/2018 with almost R20-billion irregular expenditure.) The loss by South Africa’s struggling state-run power firm, which is Africa’s largest […]

SA’s Ramaphosa Talks Tough on Mine Safety and Land Reform

By Reuters 17-07-18 16:52

JOHANNESBURG – South Africa will tighten its mine safety regulations to hold mine operators accountable for accidental deaths in the industry, President Cyril Ramaphosa said on Monday. Safety is a huge issue in South Africa’s deep and dangerous mines and increasingly a focus for investors. A spate of deaths at Sibanye-Stillwater’s gold operations, including a seismic event that killed seven […]

South Africa Mourns Loss of Six More Miners

By Jenni Baxter 16-07-18 11:27

The South African mining industry has been hit by the death of another six mine workers, this time at the unlisted Palabora Mining Company in Limpopo over the weekend. The miners died during a fire in the copper mine. The mining company said the incident occurred in the early hours of Sunday morning, at one […]

South African Rand Gains as Dollar Eases

By Reuters 02-01-21 16:20

JOHANNESBURG – South Africa’s rand strengthened early on Monday, extending previous gains, as sentiment towards riskier, high-yield markets improved after trade talks between China and the European Union. At 0650 the rand traded at 13.2125 to the dollar, up 0.32 percent from Friday’s close. The dollar slipped against most major currencies on positive trade talks […]

UAE Also Pledges $10-Billion to South Africa After Ramaphosa’s Visit

By Jenni Baxter 15-07-18 13:45

South African President Cyril Ramaphosa has certainly enjoyed a successful state trip to the Middle East this week, as news comes that the United Arab Emirates (UAE) has committed to invest $10-billion in South Africa. This follows the announcement on Thursday that Saudi Arabia had pledged $10-billion to South Africa as well (of which at […]

Russia's President Putin attends the International Cybersecurity Congress in Moscow

Putin to Take Part in BRICS Summit in South Africa – Kremlin

By SAPeople Contributor 13-07-18 17:12

MOSCOW (Reuters) – Russian President Vladimir Putin plans to visit South Africa for a summit of BRICS countries on July 26-27, Kremlin foreign policy aide Yuri Ushakov said on Friday. The BRICS group of emerging economies comprises Brazil, Russia, India, China and South Africa. (Reporting by Denis Pinchuk; Writing by Maria Tsvetkova; editing by David Stamp)

Saudi Arabia Pledges $10-Billion to South Africa During Ramaphosa’s Visit

By Jenni Baxter 13-07-18 10:11

President Cyril Ramaphosa’s  state visit to the Kingdom of Saudi Arabia kicked off on Thursday to great success – the Kingdom pledged $10-billion in new investment in South Africa… and King Salman bin Abdulaziz Al Saud bestowed the Order of King Abdulaziz upon Ramaphosa, the highest honour by the Kingdom. According to The Presidency, the […]

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