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News24Wire

News24’s breaking news wire service brings you the latest South African, African and international news reports and press updates from newsrooms across the country. Powered by the country’s leading journalists, and headed by the News24 editorial team.

April economic activity suffered record collapse, worse than global financial crisis - Reserve Bank data

22nd July 2020 South Africa's GDP contraction could be the worst on record – outdoing that of the global financial crisis of 2008, according to Investec chief economist Annabel Bishop. In a note on the latest business cycle indicators issued by the Reserve Bank on Tuesday, Bishop highlighted that the... 

Santaco hits back at Cosatu strike threats over taxi load capacity

20th July 2020 The South African National Taxi Council has said labour federation the Congress of South African Trade Union's threat to strike over the full loading capacity regulation for some taxis is unfortunate and disingenuous. "Santaco's battle with government has been nothing except for the survival of... 

Mboweni wants DA to provide 'evidence' for SAA bailout allegations

20th July 2020 Finance Minister Tito Mboweni has hit back at claims by the Democratic Alliance (DA) that National Treasury plans to extend a bailout to help fund the business rescue process of flag carrier South African Airways (SAA). This after the main opposition party announced on Friday that it had filed an... 

DA files urgent court application to interdict govt bailout for SAA

17th July 2020 The Democratic Alliance said on Friday it had filed an urgent interdict application at the Pretoria division of the high court to stop the bailout of South African Airways. Finance Minister Tito Mboweni and Public Enterprises Minister Pravin Gordhan have committed the government to making... 

Lockdown: The rejected R1.135bn taxi relief fund is 'safe' in govt coffers, says Mbalula

17th July 2020 The R1.135-billion government relief fund rejected by the taxi industry is "safe" in government coffers. Transport Minister Fikile Mbalula told the nation that the rejected funds were with his department and that there were no plans to send them back to National Treasury. 

Gordhan, Mboweni commit in letter to obtain funding for SAA

16th July 2020 In a letter sent to the business rescue practitioners of South African Airways (SAA) late on Wednesday evening, Minister of Public Enterprises Pravin Gordhan and Finance Minister Tito Mboweni have committed to obtain funding for the State-owned airline's short, medium and long-term requirements.... 

Technical experts from Germany flown in to assist Eskom, help German businesses in SA

16th July 2020 A team of German technical experts is expected to touch down in South Africa on Thursday to provide essential services to local German businesses and local entities, such as embattled Eskom.  This agreement is the result of close cooperation between International Relations and Cooperation... 

Inflation falls to lowest level in nearly 16 years

15th July 2020 Annual consumer inflation for May eased to 2.1%, the lowest reading recorded since September 2004. By comparison, inflation in April registered at 3% according to Stats SA. "If we are correct, this print will register as the lowest year-on-year change since September 2004," FNB economists said in... 

South Africa's Mantashe tests positive for Covid

15th July 2020 The Minister of Mineral Resources and Energy, Gwede Mantashe, and his wife, Nolwandle Mantashe, have tested positive for Covid-19. According to a statement by the Presidency, Mantashe and his wife received their test results earlier on Tuesday.  

Pilots trying to squeeze SAA dry, says government ahead of crucial creditors vote

14th July 2020 The Department of Public Enterprises (DPE) has accused the South African Airways Pilots Association (SAAPA) of trying "to squeeze the last resources out" of South African Airways ahead of a crucial vote by creditors of the airline on a proposed business rescue plan, scheduled for Tuesday. A vote... 

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