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Half of Ramaphosa’s SoE council to be made up of people from outside of government

By: Terence Creamer     23rd May 2018 President Cyril Ramaphosa has announced that the composition of the Presidential State-owned Enterprise (SoE) Council, whose establishment has been approved by Cabinet, will be split between Ministers, as well as business people, experts and stakeholders. Speaking in Parliament during the debate... 

Feasibility study on moving Parliament to Pretoria to start this month – Speaker

By: African News Agency      22nd May 2018 Parliament has appointed a service provider to conduct a feasibility study on moving the national legislature to Pretoria, Speaker Baleka Mbete told members of Parliament (MPs) on Tuesday. "With respect to the proposal of relocating parliament from Cape Town to Pretoria, an external service... 

Land reform unlikely to mean constitutional change – analysts

By: Reuters     22nd May 2018 South Africa looks likely to implement land redistribution under existing laws rather than by changing the constitution following a ruling party summit, in an approach more palatable to investors, analysts said on Tuesday. President Cyril Ramaphosa, who came to power in February when former... 

Zuma's presidency was a total disaster – Trevor Manuel

By: News24Wire      17th May 2018 The presidency of Jacob Zuma was a total disaster for South Africa, former finance minister Trevor Manuel said on Wednesday night. "I make no apologies for sharing my view that the presidency of Jacob Zuma was a total disaster for South Africa," said Manuel. Manuel delivered the keynote address... 

Nuclear industry urged to address business case

By: Rebecca Campbell     16th May 2018 Decisions on the future energy mix for South Africa need to be forward looking, not backward looking. So affirmed EE Publishers MD Chris Yelland in his keynote address to the National Nuclear Regulator's second Nuclear Regulatory Information Conference on Wednesday. "Nuclear power in South Africa... 

Ramaphosa appoints Mabuza as Russia envoy

By: News24Wire      14th May 2018 President Cyril Ramaphosa has appointed Deputy President David Mabuza as his special envoy to Russia, according to a statement from the Presidency. The move appears to set a point of departure on South Africa’s role in the BRICS group of emerging economies which include Brazil, Russia, India and... 

Ramaphosa to meet labour ministry after minimum wage protests

By: Reuters     26th April 2018 South African President Cyril Ramaphosa will on Thursday meet officials from the labour ministry to discuss the planned introduction of a national minimum wage, a day after nationwide protests over the policy which he has championed. Several thousand union members marched in Johannesburg, Cape... 

Government unlocks billions more for free higher education 

By: News24Wire      24th April 2018 The government has made billions available for tertiary education, but students have to fulfil strict criteria to get the money. Satisfactory academic performance will be among the expectations university students will have to meet in order to qualify for government's funding scheme, said Higher... 

Resistance persists despite declaration of new renewables dawn 

By: Terence Creamer     20th April 2018 The world did not stop to allow South Africa to get off. While ‘sunny South Africa’ spent more than two years delaying the introduction of new renewable-energy plants, including 12 solar photovoltaic (PV) projects and a concentrated solar power (CSP) plant, the rest of the world continued... 

Resistance persists despite declaration of new renewables dawn

By: Terence Creamer     20th April 2018 The world did not stop to allow South Africa to get off. While ‘sunny South Africa’ spent more than two years delaying the introduction of new renewable-energy plants, including 12 solar photovoltaic (PV) projects and a concentrated solar power (CSP) plant, the rest of the world continued... 

AfriForum to privately prosecute Julius Malema

By: News24Wire      19th April 2018 Lobby group AfriForum announced on Thursday that it intended to privately prosecute Economic Freedom Fighters (EFF) leader Julius Malema on charges of fraud and corruption. The announcement was made in Centurion on Thursday morning by AfriForum's private prosecution head, the so-called "Pit Bull"... 

Ramaphosa's plan to attract R1.2tr in investment marks potential new dawn 

By: News24Wire      18th April 2018 President Cyril Ramaphosa’s plan to raise over R1-trillion in new foreign investment has been hailed by economists as the beginning of a “new dawn” for South Africa after years of low growth and policy uncertainty. On Monday, Ramaphosa announced that South Africa will later this year host a major... 

Eskom says facing coal shortages at seven power plants

By: Reuters     17th April 2018 South African power utility Eskom, which is battling to recover from a financial and leadership crisis, said on Tuesday that it was facing coal shortages at seven power stations. Eskom supplies around 95% of South Africa's electricity, predominantly by burning coal. The state-owned utility has... 

CMH achieves 17.2% y/y increase in FY18 headline earnings despite challenges

By: Marleny Arnoldi     17th April 2018 Investment holding company Combined Motor Holdings (CMH) on Tuesday reported a good set of results for the financial year ended February 28, despite ongoing challenges including a difficult economic, trading and political environment.  

Molefe loses court bid to appeal pay back pension ruling

By: News24Wire      17th April 2018 The North Gauteng High Court on Tuesday dismissed an application by former Eskom CEO Brian Molefe for leave to appeal a ruling that he pay back the part of his pension payout he already received. Judge Elias Matojane said based on the submission presented to the court "we are of the view that... 

Troubled Gupta coal mines threaten South Africa with power cuts

By: Bloomberg     17th April 2018 South Africa’s State-owned power utility is working with the National Treasury to source more coal for seven of its plants that don’t have adequate supply, raising the specter of a return to rolling power cuts that have periodically slowed the economy since 2008. Eskom Holdings is diverting coal... 

Ramaphosa team to seek $100bn investment for South Africa

By: Reuters     17th April 2018 South African President Cyril Ramaphosa appointed a team of business and finance experts on Monday to hunt the globe for $100-billion in investment to boost the ailing economy. The team of economic envoys includes two former finance ministers – Trevor Manuel and Pravin Gordhan, who now holds the... 

KPMG South Africa reviewing work done by its partners

By: Reuters     16th April 2018 KPMG South Africa is reviewing work done by its partners in the wake of the resignation of two partners who faced disciplinary charges, its chief executive said on Sunday, another setback for the firm whose work is under scrutiny by authorities. CEO Nhlamulo Dlomu said the resignation of partners... 

These are my principles, but . . .

By: Riaan de Lange     13th April 2018 My father’s friend is a principled man. In the past, you would have read much into my opening sentence. Only a few days ago, my young son returned from school with a letter. A dreaded letter. In this day and age, any written correspondence received from school on a paper is never a good thing.... 

Eskom considers sale of mortgage business

By: Reuters     12th April 2018 South Africa's state power utility Eskom is sounding out possible buyers for its mortgage business, a tender document showed on Wednesday, in what would be the first major privatisation deal under President Cyril Ramaphosa. Ramaphosa has made revamping state-owned firms like Eskom a top priority... 

Burgh picked to keep Gupta coal mines going

By: Bloomberg     12th April 2018 South Africa’s Burgh Group Holdings won a temporary contract to keep mines linked to the Gupta family afloat, according to a business-rescue manager for the assets. Other parties offered financing, but Burgh “came without conditions,” Louis Klopper, a bankruptcy-proceedings manager at Coronado... 

South Africa's growth recovery at risk from lack of policy clarity – SARB

By: Reuters     11th April 2018 South Africa's recent economic growth turnaround is unlikely to last as 2017's boom fades and the outlook for reform remains murky, the South African Reserve Bank (SARB) said on Tuesday. The South African economy expanded by a surprising 1% in 2017 as agriculture recovered from a drought the year... 

Extreme inequality in South Africa is constraining growth and investment  

By: Terence Creamer     10th April 2018 New analysis by the World Bank has confirmed that South Africa’s is not only the world’s most unequal country, but that extreme inequality has become a major constraint to higher levels of economic growth, because it is undermining policy certainty and depressing investment. The bank’s latest... 

Ramaphosa refers Eskom allegations to Special Investigating Unit

By: News24Wire      6th April 2018 President Cyril Ramaphosa referred allegations of mismanagement and graft at state power utility Eskom and rail and ports group Transnet to the Special Investigating Unit (SIU). The SIU, which probes corruption and maladministration in the government, must include “any alleged serious... 

Tangible results needed to maintain business confidence momentum – Sacci

By: Simone Liedtke     5th April 2018 Although an improved business mood is still present, it has to be augmented by an improvement in the real economy and further focus on better financial conditions, the South African Chamber of Commerce and Industry (Sacci) said on Thursday, releasing the results of its latest business confidence... 

Oversight opportunity not to be missed

By: Terence Creamer     30th March 2018 One of the few positives arising from the disastrous period during which President Jacob Zuma occupied the Union Buildings is the fact that it appears to have woken up Parliament, albeit belatedly, to the oversight role envisaged for it in the Constitution. As Institute for Security Studies... 

South African court dismisses bid to block $4.7bn renewable deals 

By: Reuters     29th March 2018 A South African court on Thursday dismissed a bid to block $4.7-billion in renewable power contracts, an energy ministry spokeswoman said, removing an obstacle to the first major investment deal under President Cyril Ramaphosa. The last-minute legal challenge was lodged earlier this month by the... 

Glencore is said to mull buying back Gupta-linked coal mine

By: Bloomberg     27th March 2018 Glencore is considering a bid for the Optimum coal operations in South Africa, which it sold in 2015 to a company part-owned by the politically connected Gupta family, according to two people familiar with the matter. Optimum supplies fuel to state power utility Eskom Holdings and became a... 

Massmart to open 20 stores in Pan-African expansion – chairperson

By: Reuters     27th March 2018 South African retailer Massmart is continuing its Pan-African expansion with plans to open about 20 new stores outside its home market over the next three years, the company's chairman said on Monday. Massmart, majority-owned by US retail giant Wal-Mart, operates nearly 400 stores, including 42... 

Roadblocks ahead for South Africa's Ramaphosa after Moody's win

By: Reuters     27th March 2018 South Africa's new President Cyril Ramaphosa will need to call on all his dealmaking skills to overhaul ailing State-owned firms and tackle land reform if he wants to capitalise on Moody's decision not to downgrade the country's debt to junk. Moody's said its decision to keep South Africa's... 

South Africa mulling privatisation in Ramaphosa reform drive – Treasury chief

By: Reuters     26th March 2018 South Africa will consider partially privatising struggling State-owned companies as part of wide-ranging reforms set in motion by President Cyril Ramaphosa since he came to power last month, the head of the National Treasury said on Saturday. Dondo Mogajane said South Africa was at the end of a... 

Ramaphosa amends rules of State capture inquiry

By: African News Agency      23rd March 2018 President Cyril Ramaphosa's office said on Friday he has amended the rules of the commission of inquiry into state capture to make testimony before it admissible in criminal proceedings, with the exception of where a witness may incriminate him or herself. The amendment to regulation 8(2) of the... 

Early days, but some SA firms responding to Zimbabwe’s open-for-business pledge

By: Martin Zhuwakinyu     23rd March 2018 Robert Mugabe may no longer be at the helm of Zimbabwe Inc, but the mess he created over his 37-year rule remains – the country’s infrastructure is, for the most part, in a sorry state, its economy is moribund and unemployment has reached ridiculously high levels, with figures as high as 90%... 

What we must undo in post-Zuma era

By: Saliem Fakir     23rd March 2018 During Jacob Zuma’s Presidency, South African had to contend with racial parochialism, State inaptitude and a gloomy economy. Dystopia became the only legacy the former President would bequath the present and future generations. Gramsci once noted: 'The State was only an outer ditch behind which... 

Early days, but some SA firms responding to Zimbabwe’s open-for-business pledge

By: Martin Zhuwakinyu     23rd March 2018 Robert Mugabe may no longer be at the helm of Zimbabwe Inc, but the mess he created over his 37-year rule remains – the country’s physical and social infrastructure is, for the most part, in a sorry state, its economy is moribund and unemployment has reached ridiculously high levels, with figures... 

Remembering Julius Nyerere

By: Martin Zhuwakinyu     23rd March 2018 It took the threat of impeachment proceedings by his own party to get Jacob Zuma, decidedly the most inept – and venal – President South Africa has ever had, to vacate the Union Buildings on Valentine’s Day. Just under three months earlier, the ruling Zanu-PF party in neighbouring Zimbabwe had... 

NPA reinstates corruption charges against Zuma  

By: Sane Dhlamini     16th March 2018 The National Prosecuting Authority will reinstate charges of corruption, racketeering, fraud and money laundering against former president Jacob Zuma. National Prosecuting Authority (NPA) director of public prosecutions Shaun Abrahams on Friday said former South African President Jacob Zuma will... 

Lakela Kaunda to join Cogta

By: Sane Dhlamini     16th March 2018 The Presidency’s chief operations officer (COO) and former President Jacob Zuma's most trusted adviser Lakela Kaunda was seconded, on Friday, to join the Ministry of Cooperative Governance and Traditional Affairs (Cogta) for the next twelve months with effect from March 20. The Ministry is headed... 

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