R/€ = 15.50 Change: 0.04
R/$ = 13.91 Change: -0.04
Au 1419.67 $/oz Change: -8.03
Pt 856.16 $/oz Change: 5.68


Two take empty passenger train for Friday night joyride

23rd July 2019 Two unknown suspects went off the rails on Friday night and stole an empty passenger train before driving it from eMkhomazi to Umgababa in KwaZulu-Natal – a distance of 12 km. Passenger Rail Agency Agency of South Africa (PRASA) spokesperson Zama Nomnganga confirmed the incident to News24, saying... 

Boris Johnson wins race to be next UK prime minister

23rd July 2019 Boris Johnson has been elected leader of the United Kingdom's Conservative Party and, by default, the country's next prime minister. The Brexit hardliner, a former London mayor, on Tuesday won the votes of 92 153 members of the ruling party, while his rival, Foreign Minister Jeremy Hunt, won 46 656. 

Mkhwebane report caused 'irreparable harm', Gordhan argues

23rd July 2019 Minister of Public Enterprises Pravin Gordhan has argued in the High Court in Pretoria that the remedial orders issued by the Public Protector in a report against him are "erroneous" and have caused "irreparable harm" to his reputation. The minister is asking the court to suspend Busisiwe... 

Mboweni confirms R59bn for Eskom

23rd July 2019 Finance Minister Tito Mboweni on Tuesday tabled a special appropriation bill for Eskom, which will see the debt-ridden power utility benefit with an additional allocation of R59-billion in funding. The bill provides for an additional amount of money to be made available to the department of... 

'Role model par excellence' – UCT vice-chancellor receives honorary degree from UK university

23rd July 2019 The University of Cape Town's (UCT's) vice-chancellor, Professor Mamokgethi Phakeng, has dedicated her honorary Doctor of Science degree from the University of Bristol to the people who contributed in one way or another to her life and career. Addressing the hall of graduates, academics, friends... 

Coal to Newcastle: Residents say mine puts them in danger

22nd July 2019 Residents of Blaauwbosch village in Newcastle, who live near an old coal mine where informal mining takes place, say they are fed up with empty promises by the government and local politicians. They told GroundUp they want to be moved elsewhere. The residents say the walls of their houses are... 

Reserve Bank cuts repo rate

18th July 2019 The South African Reserve Bank's monetary policy committee has cut the benchmark repo rate by 25 basis points to 6.5% from 6.75%.  This is the first time since March 2018 that the benchmark interest rate has been cut. The central bank now expects SA's economy to grow by 0.6% in 2019. 

Eskom to pay Nedbank R9m in interest before month end

18th July 2019 Eskom is due to pay over R9-million in interest to Nedbank Corporate and Investment Banking before the end of the month, it said in a notice on Wednesday evening. The interest payment notification, posted on the Johannesburg Stock Exchange News Service, relates to bond ES23 and covers the... 

Corruption busters still cash-strapped, but DOJ in talks with Treasury about private funding

17th July 2019 While fighting corruption and fraud remains a part of the Department of Justice's "core mandate", Justice and Correctional Services Minister Ronald Lamola conceded that key corruption-fighting institution the National Prosecuting Authority (NPA) "is really financially constrained". However, the... 

Cape Town's MyCiTi N2 Express impasse escalated to national and provincial govt

17th July 2019 The City of Cape Town is hoping to meet the national and Western Cape's transport departments in the hopes of getting its suspended MyCiTi N2 Express to Khayelitsha and Mitchells Plain back in service. "We are doing our utmost to get the service back on track," said the city's mayoral committee... 

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