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 […]

DA ANC cadre deployment

South Africa’s DA Party Picks John Steenhuisen as Interim Leader

By Reuters 18-11-19 00:51

JOHANNESBURG – South Africa’s Democratic Alliance (DA) on Sunday appointed John Steenhuisen as interim leader a month after the country’s main opposition party was thrown into chaos by the sudden resignation of Mmusi Maimane. Maimane, who was appointed as leader to broaden the traditionally white liberal party’s appeal to black voters, quit in October in […]

Nelson Mandela memorial statue cuba havana

Cuba Unveils New Mandela Memorial Paying Tribute to Ties with South Africa

By SAPeople 15-11-19 22:58

Cuba has unveiled a statue of South Africa’s late President Nelson Mandela in Havana, to commemorate the historic ties between the two countries. Fernando Gonzalez, President of the NGO Cuban Institution of Friendship with Peoples, said: “For us it is a very special moment… we had been waiting a long time for the bust here. […]

Photo by Johann Visage. Saldanha Steel, sunrise

ArcelorMittal South Africa to Close Saldanha Steel Operation

By Reuters 11-11-19 19:08

ArcelorMittal’s South Africa unit said on Monday it would close its steel operations at Saldanha Works in the south of the country because it could no longer compete in export markets. The company, majority-owned by ArcelorMittal, announced in September that it could close some operations as part of a review aimed at strengthening long-term sustainability amid cheap imports, rising costs […]

South Africa’s Absa to Open New York Office by End of the Year

By Reuters 11-11-19 17:50

South African lender Absa said on Monday its representative office in New York should be operational by the end of the year, after it received the necessary regulatory approvals. The office is aimed at enabling Absa to better serve clients, including international corporations and institutions, that invest or work in Africa. The bank has already opened a representative office […]

Rand Weakens with Overnight Loadshedding, and Risk of More Power Cuts on Friday

By Reuters 02-01-21 16:17

South Africa’s rand was weaker early on Friday after Eskom’s nationwide loadshedding (electricity blackouts) spooked investors and reignited worries about the economy. At 0645 GMT the rand was down 0.23% at 14.7700 per dollar, compared with the previous session’s best of 14.6630. Power firm Eskom implemented stage 2 power cuts, or load shedding, shaving off […]

SA Expat: Something Compelled Me To Watch ‘Our Boys’

By SAPeople Contributor 09-11-19 00:41

A few days ago, I got off a plane after a very tough whirlwind visit back to South Africa. I hit the ground running back “home” in New York with kids, work commitments, parent teacher meetings and frantic Halloween preparations writes Margaux Nissen Gray. I was out until late on Friday night and yet something […]

South African Rand and Bonds Bounce on Moody’s Reprieve

By Reuters 04-11-19 19:27

The South African rand and government bonds jumped on Monday after ratings agency Moody’s kept the country’s last investment-grade credit rating intact, but many investors expected the rally could fade soon. Moody’s decision on Friday to leave South Africa’s sovereign debt at Baa3, the lowest rung of investment grade, was a relief to beleaguered President […]

Siya Kolisi in Search of a Pot of Gold for the Rainbow Nation

By Reuters 02-11-19 01:12

South Africa‘s first black rugby captain Siya Kolisi may have made an even more positive impact on unity in the country than the iconic gesture of Nelson Mandela donning a Springboks jersey for the 1995 World Cup final, former flyhalf Joel Stransky says. Stransky put over the decisive drop-goal as South Africa beat New Zealand to win the Webb […]

Edwin Cameron Appointed Inspecting Judge

By SAPeople Contributor 28-10-19 09:16

President Cyril Ramaphosa has appointed the recently retired Constitutional Court Justice, Edwin Cameron, as the Inspecting Judge of the Judicial Inspectorate for Correctional Services. The appointment is for a three-year term with effect from 1 January 2020. The President has also – in terms of Section 86(1)(b) – reappointed the current Inspecting Judge, Justice Johann […]

South Africa Grounds Air Zimbabwe Jetliner Over Debt

By Reuters 28-10-19 00:36

South Africa’s state-run airports management company said on Thursday it had suspended Zimbabwe’s debt-strapped national airline from using the country’s airports over unpaid landing and parking fees. Air Zimbabwe owes foreign and domestic creditors more than $300 million. The Zimabwe government put the airline under administration last year and later invited bids from potential investors […]

Former Leader of South African opposition party, the Democratic Alliance (DA) Mmusi Maimane arrives for the party's election manifesto launch in Johannesburg

South African Opposition DA in Crisis as Ex-Leader Maimane Quits as MP

By Reuters 24-10-19 23:53

The former leader of South Africa’s official opposition Democratic Alliance, Mmusi Maimane, gave up his seat in parliament on Thursday after quitting the national leadership and plunging the traditionally white liberal party into crisis. Race and class remain highly divisive issues in South Africa, where the ruling African National Congress has been in power since […]

Mmusi Maimane Resigns from DA and Parliament

By SAPeople Contributor 24-10-19 10:45

After Democratic Alliance (DA) leader Mmusi Maimane resigned yesterday as head of South Africa’s main opposition party, he has today announced his resignation from the DA party and from Parliament. Maimane announced his resignation as leader of the party on Wednesday after four years at the helm, citing difficulties making the traditionally white liberal party […]

Russian President Vladimir Putin meets with South African President Cyril Ramaphosa in Sochi

Russia Lands Nuclear Bombers in South Africa as Putin Hosts Ramaphosa and Other African Leaders

By Reuters 23-10-19 23:06

SOCHI/MOSCOW – Russia landed two nuclear-capable bombers in South Africa on a training mission on Wednesday, a flight apparently timed to coincide with President Vladimir Putin’s opening of a flagship Russia-Africa summit designed to increase Russian influence. The two Tupolev Tu-160 strategic bombers touched down at Waterkloof air force base in Tshwane on Wednesday, the […]

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