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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.

Thales' challenge to racketeering charge it faces with Zuma dismissed - paving way for trial to start

22nd January 2021 The KwaZulu-Natal High Court in Pietermaritzburg has dismissed with costs French arms company Thales' bid to challenge the racketeering charge it faces along with former president Jacob Zuma. The case brought by Thales, which is being represented by Oscar Pistorius' former defence advocate Barry... 

Reserve Bank keeps rates on hold at 3.5%

21st January 2021 The Reserve Bank has decided to keep rates unchanged at 3.5%, in line with the expectations of economists. Governor Lesetja Kganyago made the announcement on Thursday afternoon, following the bank's Monetary Policy Committee's (MPC) first meeting for the year this week. Two of the MPC's five... 

Steel baron Eric Samson dies

20th January 2021 Steel magnate Eric Samson, best known for building Macsteel into one of South Africa's largest companies, has died aged 83.   The octogenarian billionaire – who shied away from the spotlight throughout his life – died in Newport, California. He had a career spanning more than five decades in the... 

2 out of every 3 cigarettes sold in SA are illicit, report estimates

20th January 2021 The sale of illicit, tax-evading cigarettes has become "endemic" across South Africa in the wake last year’s 5-month Covid-19 lockdown blanket ban on tobacco trade, according to an undercover investigation and subsequent report by Tax Justice SA (TJSA). TJSA’s undercover team visited over 40... 

Ramaphosa forms inter-ministerial committee on vaccines, to be led by David Mabuza

19th January 2021 President Cyril Ramaphosa has established an inter-ministerial committee to oversee the roll-out of Covid-19 vaccines in the country. Ramaphosa announced this at a Zoom meeting of the ANC's Progressive Business Forum on Tuesday.  

Unions want Labour Court to order SAA to sort out backpay within 7 days

19th January 2021 The National Union of Metalworkers of South Africa (Numsa) and the SA Cabin Crew Association (Sacca) intend to make an urgent application to the Labour Court in Johannesburg on 28 January to have a deal regarding backpay of members of South African Airways (SAA) declared unlawful or unfair. The... 

Land Bank posts a R172m interim loss for 2020

19th January 2021 The Land Bank has posted a R172-million loss from its continuing operations for the six months ended on 30 September as its interest income continued to decline while provision for bad debts grew. The state-owned lender, which finances approximately 27% of agricultural debt in SA and is the only... 

Higher debt, lower growth to plague sub-Saharan Africa in 2021 - Moody's

14th January 2021 Sub-Saharan African sovereigns will be battling lower growth and revenue as well as higher debt levels and weaker debt affordability into 2021, according to Moody's. The ratings agency on Wednesday issued a 2021 outlook report. It noted that the region will be challenged by the aftermath of... 

There was no alternative to Eskom's R1.68bn prepayment to Tegeta, says Koko Matshela

13th January 2021 Matshela Koko, the former head of generation at Eskom, told the state capture commission of inquiry that there was nothing wrong with a controversial R1.68 billion pre-payment which the power utility made to Gupta-owned Tegeta Exploration and Resources after the company clinched a coal supply... 

Former Eskom manager held 'secret' meetings with Tony Gupta over Tegeta contract

12th January 2021 Former Eskom manager, Ayanda Ntetha told the Zondo Commission of Inquiry on Tuesday that she had secret meetings with Tony Gupta at his Saxonwold home to discuss a coal supply contract between the power utility and Tegeta, a mining business owned by the politically connected family. Nteta, who... 

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