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Zuma to appeal important judgment on NPA

By: Thabi Madiba     8th December 2017 The Presidency said on Friday that it noted the judgment by the High Court which ruled that National Director of Public Prosecutions (NDPP) Shaun Abrahams who heads the National Prosecuting Authority (NPA) must vacate his office. The judgment was handed down in the application seeking an order... 

ANC reacts to court setting aside Abrahams appointment

By: African News Agency      8th December 2017 South Africa's ruling African National Congress (ANA) said it "noted" Friday's court judgment in Pretoria that the appointment of the country's prosecutions boss, Shaun Abrahams, be set aside. "The ANC will allow the parties involved to reflect on the judgment and its implications as well as... 

Ramaphosa must appoint new NPA head as court rules Abrahams must vacate office

By: News24Wire      8th December 2017 Deputy President Cyril Ramaphosa has two months to appoint a new head of the National Prosecuting Authority (NPA) after the High Court in Pretoria declared the post vacant. In an unexpected turn, Judge Dunstan Mlambo has ruled that Advocate Shaun Abrahams, the National Director of Public... 

NPA boss Shaun Abrahams must vacate his job, judge rules

By: News24Wire      8th December 2017 The High Court in Pretoria has ruled that Advocate Shaun Abrahams, the national director of public prosecutions (NDPP), must vacate his seat. Judge Dunstan Mlambo further ruled it would not be just for the former prosecutions boss Mxolisi Nxasana to be reinstated and that due to his pending... 

Zuma promises ‘seamless’ ANC transition at energy indaba that sidesteps IRP debate

By: Terence Creamer     7th December 2017 President Jacob Zuma used his address at the Energy Indaba, taking place in Johannesburg this week, to assure business and investors that the upcoming African National Congress (ANC) elective conference would be “orderly and peaceful”, while promising a “seamless” handover to the new ANC... 

SA business confidence index lifted by optimism on better conditions – Sacci

By: African News Agency      6th December 2017 Business confidence in South Africa was up slightly in November, reflecting an anticipation of more conducive economic conditions, a survey showed on Wednesday. The South African Chamber of Commerce and Industry (Sacci) said its monthly business confidence index rose to 95.1 in November from 92.9... 

Africans must drive African trade – Zuma

By: African News Agency      5th December 2017 President Jacob Zuma has said that Africa needs to develop its manufacturing capabilities, achieve industrialisation and drive intra-African trade to reverse the continental trend of exporting raw materials and importing finished goods. Zuma was speaking at the inaugural African Terminal... 

South Africa's private-sector activity slows in November – Standard Bank PMI

By: Reuters     5th December 2017 South African private sector activity slowed in November as new orders and output fell, a survey showed on Tuesday. The Standard Bank Purchasing Managers' Index (PMI), compiled by IHS Markit, fell to 48.8 in November from 49.6 in October, staying below the 50 mark that separates expansion from... 

Uncanny similarities

By: Martin Zhuwakinyu     1st December 2017 What is the common denominator between South African President Jacob Zuma and Faure Gnassingbe, his opposite number in the West African nation of Togo? Both have had a torrid year, with angry citizens baying for their political demise. In South Africa, tens of thousands took to the streets early... 

Zuma approves pay hikes for public office bearers

By: African News Agency      30th November 2017 President Jacob Zuma has approved recommendations for salary increases for public office bearers, his office announced on Thursday. "After considering, amongst others, the recommendations of the Commission [for the Remuneration of Public Office-Bearers] and the performance of the economy,... 

Gordhan joins Wits School of Governance

By: Sane Dhlamini     30th November 2017 The University of the Witswatersrand (Wits) announced on Thursday that it had appointed former Minister of Finance Pravin Gordhan as a visiting professor at the Wits School of Governance, as from Friday. “He has played an integral role in South Africa’s history and we believe that his strong... 

Hendrina power station may not have adequate coal, no load-shedding seen

By: Reuters     30th November 2017 South African State-owned power utility Eskom said on Thursday coal stock at its Hendrina power station might be lower than the 20-day supply requirement, but rolling power cuts known locally as load shedding were not likely. Eskom may be forced to resume the nationwide electricity cuts that... 

R22.5m for VVIP flights: Defence dept overspends budget

By: News24Wire      29th November 2017 The Department of Defence has overspent on VVIP flights by R22.5-million since 2015, a parliamentary reply has revealed. DA defence and military veterans spokesperson Kobus Marais submitted questions to Minister of Defence and Military Veterans Nosiviwe Mapisa-Nqakula asking how much she had... 

Rand bulls hold sway, at least until ANC's December ballot

By: News24Wire      28th November 2017 Rand bulls will win out over rand bears, at least for the next few weeks. That’s the view of analysts from Credit Agricole CIB and Toronto-Dominion Bank on the back on the rand’s best day in almost two years after Moody’s Investors Service kept South Africa’s local rating investment grade.... 

Eskom inquiry cancelled for this week

By: Reuters     27th November 2017 Parliament announced on Monday that the inquiry into the mismanagement of funds at state power utility Eskom will not sit this week. In a statement, Parliament said the Portfolio Committee on Public Enterprises will not meet this week to conduct its inquiry on Eskom into the mismanagement of... 

Zuma calls for urgent measures to boost economy after downgrade 

By: Reuters     27th November 2017 President Jacob Zuma has directed Finance Minister Malusi Gigaba to identify concrete measures to urgently address the country's economic challenges, the president's office said on Monday. The directive comes after S&P Global Ratings on Friday downgraded the country's local currency debt to... 

South Africa to outline 'decisive' policy in 2018 after debt rating cut

By: Reuters     25th November 2017 South Africa will use its annual budget next year to outline "decisive" policy to strengthen its fiscal framework, the finance ministry said on Saturday after S&P Global Ratings cut its local currency debt to "junk" status. "The 2018 Budget will outline decisive and specific policy measures to... 

Weak growth, rising debt could trigger deeper downgrades – SARB

By: Reuters     24th November 2017 South Africa's failure to stabilise the country's fiscal situation could see its credit rating downgraded deep into junk territory, the central bank said on Friday, just hours before two rating agencies were due to announce their decisions. Africa's most industrialised economy is on the brink of... 

Fitch keeps South Africa's credit ratings unchanged at BB+, stable outlook

By: Reuters     24th November 2017 Ratings firm Fitch kept both South Africa's local and foreign currency credit ratings unchanged at BB+, one notch below investment grade, with a stable outlook, the agency said on Thursday. In April, Fitch downgraded South Africa's credit rating to sub-investment grade after Prsident Jacob Zuma... 

Here is why CR17 is not ahead in ANC leadership race 

By: Aubrey Matshiqi     24th November 2017 In a matter of weeks, the African National Congress (ANC) will elect its fourteenth president. Depending on who or what section of the media one believes, it is either Cyril Ramaohosa (CR17 to his supporters) or Nkosazana Dlamini-Zuma (NDZ) who is, as they say, ‘miles ahead’. This is not... 

South Africa keeps rate at 6.75%, says risks to inflation rising

By: Reuters     23rd November 2017 South Africa's central bank kept its benchmark repo rate at 6.75% on Thursday, in-line with expectations, citing increased risks to inflation posed by currency weakness, possible credit downgrades and political jostling. "The lead-up to the African National Congress national elective conference... 

Tsotsi drops Myeni/Zuma meeting bombshell at Eskom Inquiry

By: News24Wire      22nd November 2017 Former Eskom chairperson Zola Tsotsi has dropped a bombshell at the Eskom Inquiry, saying that former South African Airways chairperson Dudu Myeni had called him to request his availability to meet President Jacob Zuma in Durban. According to Tsotsi, he was met by Myeni on March 7, 2015 at the... 

Parliament delays passing key mining law

By: Reuters     22nd November 2017 South Africa's Parliament will miss a December target to pass changes to mineral resource laws, seen as key for greater investor certainty, a senior Parliamentary official said on Tuesday. In September, Mines Minister Mosebenzi Zwane told a mining conference in Australia that the new target date... 

Zuma vows govt will continue supporting embattled SAA

By: Reuters     20th November 2017 The government will continue supporting South African Airways (SAA) as the airline rebuilds itself, President Jacob Zuma said on Saturday. "We will support SAA on its path towards renewal," said Zuma who was speaking at the launch of the KZN Invest SA One Stop Shop in Durban. 

Nissan South Africa confident of delivering on long-awaited investment promise in 2018

By: Irma Venter     17th November 2017 Vehicle manufacturer Nissan in 2012 confirmed plans to invest R1-billion in its Rosslyn plant, in Pretoria, to build a new one-ton pick-up, with capacity at the plant to be increased to around 100 000 units a year. Local production of the new model was set to start in 2014. 

Outlook for vehicle market hinges on political landscape – bank

By: Irma Venter     17th November 2017 It is impossible to accurately forecast where the new-vehicle market will end the year, or what the 2018 market will look like, says Standard Bank Vehicle and Asset Finance (VAF) group head Simphiwe Nghona. “Everything hinges on the political landscape. Anything can happen in the last quarter.... 

Nissan SA confident of delivering on long-awaited investment promise in 2018

By: Irma Venter     17th November 2017 Vehicle manufacturer Nissan in 2012 confirmed plans to invest R1-billion in its Rosslyn plant, in Pretoria, to build a new one-ton pickup, with capacity at the plant to be increased to around 100 000 units a year. Local production of the new model was set to start in 2014. 

Western Cape appeals for Zuma's help with drought

By: News24Wire      15th November 2017 The Western Cape appealed for assistance from national government with the drought and water crisis engulfing the province at a meeting of President Jacob Zuma's President's Coordinating Council (PCC) on Tuesday at Tuynhuys, in Cape Town. James-Brent Styan, spokesperson for Western Cape MEC for... 

Environmental activists to appeal enviro authorisation for proposed new nuclear power station

By: Megan van Wyngaardt     14th November 2017 Earthlife Africa Johannesburg, Greenpeace Africa and the Southern African Faith Communities’ Environment Institute (Safcei) have officially filed a notice informing the Department of Environmental Affairs (DEA) that they intend to jointly appeal the environmental authorisation for the... 

Business expresses concern over Michael Sachs’ resignation

By: Thabi Madiba     14th November 2017 Business Leadership South Africa (BLSA) on Tuesday said it was concerned with the resignation of head of the National Treasury's Budget Office Michael Sachs. Treasury said on Monday that Sachs would not be leaving the department immediately to ensure a proper handover to another senior official... 

South Africa graft watchdog must meet court deadline – SARB

By: Reuters     14th November 2017 South Africa's anti-graft watchdog must meet a high court deadline in a case about the central bank's mandate to avoid creating market instability, the bank said on Monday. Market stability is politically sensitive in South Africa because ratings agencies downgraded the country's debt in April... 

Treasury turmoil sends rand to one-year low

By: Reuters     13th November 2017 South Africa's rand tumbled more than 1% and the risk premium on government bonds soared on Monday over news of a top Treasury official resignation, financial woes at the sole power utility and political jostling in the ruling party. A report by a presidential commission that government raise... 

No free higher education, cost-sharing more feasible – Heher Report

By: African News Agency      13th November 2017 As expected, a report of the commission which looked into the feasibility of making higher education free in South Africa, released by President Jacob Zuma on Monday, found that government alone would not be able to foot the sizeable bill for such a reality. The report by the commission, chaired... 

Zuma to release report on higher education at midday – presidency

By: Reuters     13th November 2017 President Jacob Zuma will release a report into the feasibility of fee-free higher education at midday (1000 GMT) today, the presidency said in a statement on Monday. Reports that Zuma was planning to announce free tertiary education have hurt the rand currency in recent days, as higher education... 

Zuma says has no plans to announce free education programme yet

By: Reuters     13th November 2017 South Africa's President Jacob Zuma has no plans to announce a programme for free higher education until he reviews the report of a commission studying the feasibility of such a programme, his office said in a statement on Sunday. The rand slipped to a one-year low on Friday amid reports Zuma was... 

Guptas target South African bank regulator over account closures

By: Bloomberg     10th November 2017 A group of companies linked to South Africa’s politically connected Gupta family said the country’s banking regulator encouraged lenders to shut their accounts, broadening a battle to retain the last of their banking services. The 20 businesses, which are suing Bank of Baroda’s local unit to keep... 

Business fears political limbo if ANC vote stalls

By: Bloomberg     10th November 2017 South Africa’s main business group fears the country will be stuck in political limbo if infighting causes the ruling party’s elective conference in December not to go ahead. The race to succeed President Jacob Zuma as leader of the African National Congress is widely seen as a head-to-head... 

Saftu, Outa call for independent judicial inquiry at Sars

By: Sane Dhlamini     8th November 2017 The South African Federation of Trade Unions (Saftu) and the Organisation Undoing Tax Abuse (Outa) on Wednesday called for Finance Minister Malusi Gigaba to appoint an independent judicial inquiry into tax administration and governance at the South African Revenue Service (Sars). This follows... 

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