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SARB independence threats are 'hand grenade with the pin out' for South Africa's credibility – analyst

By: News24Wire      12th June 2019 The idea of government reviewing inflation targeting in South Africa's low-growth environment, as well as political threats against the independence of the South African Reserve Bank (SARB), amount to "a credibility hand grenade with the pin out". This is the view of Peter Attard Montalto, head... 

Ramaphosa weighs in on debate over independence, mandate of SARB

By: African News Agency      7th June 2019 President Cyril Ramaphosa has moved in to quell the public spats by government and the ruling party's officials over the mandate and ownership of the South African Reserve Bank (SARB), saying that government's policy on the independence and role of the central bank has not changed. This comes as... 

Kganyago ropes in Constitution to defend Sarb mandate from detractors  

By: News24Wire      5th June 2019 South African Reserve Bank Governor Lesetja Kganyago on Wednesday defended the central bank from those who are calling for its mandate to be expanded by throwing the Constitution into the fold. Ace Magashule, secretary general of the African National Congress, said on Tuesday that the ruling... 

Reserve Bank 'noise' will shake up markets, but have little real impact – economists  

By: News24Wire      5th June 2019 The confusion created by the African National Congress's conflicting remarks about expanding the mandate of the South African Reserve Bank was unlikely to frighten investors much more than they already have been, said economist Sifiso Skenjana. He said that determining the mandate of the Reserve... 

Battle over SARB's role spooks rand

By: Bloomberg     5th June 2019 A fight is brewing over South Africa’s central bank and Governor Lesetja Kganyago is ready for it, flanked by his finance minister and the head of the ruling party’s economic policy. The rand whipsawed Wednesday amid confusion over whether the African National Congress is pushing to change the... 

Parsons warns of possible ‘technical recession’ after first-quarter GDP contraction   

By: Tasneem Bulbulia     4th June 2019 South Africa’s gross domestic product (GDP) is unlikely to grow by more than about 1% this year, North West University Business School economist Professor Raymond Parsons said on Tuesday, following the announcement by Statistics South Africa (Stats SA) that GDP had contracted by 3.2% in the first... 

Departures at State firms could drag out Ramaphosa's reforms  

By: Reuters     4th June 2019 President Cyril Ramaphosa's mission to fix two of South Africa's most troubled state companies, power firm Eskom and South African Airways, could take longer than planned after their chief executives quit within a week of each other. Investors say the CEOs' resignations could slow the... 

Three things to learn from Jarana's exit as CEO of SAA 

By: Bloomberg     4th June 2019 South African Airways’ (SAA's) prospects of surviving in its current form took a hit over the weekend when news broke that CEO Vuyani Jarana quit over a lack of government support. The National Treasury isn’t committing to an agreement to put R21.7-billion toward the State-owned carrier’s 2021... 

SAA's Jarana quits over lack of State support

By: Bloomberg     3rd June 2019 South African Airways (SAA) CEO Vuyani Jarana quit the financially stricken State-owned company, citing a lack of funding and drop in government support for the carrier’s turnaround plan. The former Vodacom Group executive was brought in about 18 months ago to lead a recovery at the airline,... 

South Africans calling for pledges of greater economic growth

By: Simone Liedtke     30th May 2019 Following the appointment of a new Cabinet by President Cyril Ramaphosa on Wednesday night, the country has called for pledges of greater economic growth and commitment to rebuilding the country. The Steel and Engineering Industries Federation of Southern Africa (Seifsa) welcomed the... 

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