S.Africa’s Standard Bank Group (SBKJ.J) reported a 33% rise in full-year profit as the lender benefited from higher interest rates and other transactional activities. For the year ended Dec. 31, …
AfricaAFRICA NEWSSouth AfricaSouthern Africa
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South Africa
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South African Economy Contracts on Intensifying Power Outages
by Editorby EditorSouth Africa’s economy shrank more than expected in the fourth quarter when the state-owned power utility intensified rolling blackouts that continue to put a dampener on output. Gross domestic product …
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South African President Cyril Ramaphosa Shuffles His Cabinet Amid Crises
by Editorby EditorSouth African President Cyril Ramaphosa announced changes to his Cabinet on Monday, including a new minister of electricity, amid the escalating power crisis in the country. In a live national …
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Kgosientsho Ramokgopa: South Africa gets new minister to tackle power crisis
by Editorby EditorSouth Africa’s president has appointed the country’s first electricity minister in an effort to address the unprecedented power shortages there. Kgosientsho Ramokgopa’s most pressing task will be to end the …
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Economic diplomacy versus the cost of doing business in Africa
by Editorby EditorJust over 20 years ago, MTN completed one of its most ambitious projects in Nigeria when it installed a high-capacity digital microwave transmission backbone in January 2003. The infrastructure project …
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Bondholders brace for 300 seconds of tension in South Africa’s Budget
by Editorby EditorFinance Minister Enoch Godongwana will spend about five minutes of his budget speech Wednesday on Eskom if history is anything to go by. It’s going to be a tense 300 …
- AfricaAFRICA NEWSAgricultureSouth AfricaSouthern Africa
El Niña Could Pose Threat to South Africa’s Food Security
by Editorby EditorThe Agricultural Business Chamber said that the upcoming El Niño weather effects could pose a threat to South Africa’s food security in the near future. The country has been experiencing …
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Goldplat annual profit up but South Africa power outages hit new year
by Editorby EditorGoldplat PLC resumed trading on AIM in London on Monday after it released results for the financial year that ended on June 30, posting growth in profit and revenue. Goldplat …
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Telkom to cut up to 15% of its workforce
by Editorby EditorTelkom is again about to go through a painful retrenchment programme as it fights to contain costs in a tough macroeconomic environment. The partially state-owned telecommunications operator said on Tuesday …
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Food prices hit 14-year high as load shedding escalates
by Editorby EditorSouth African food prices increased at the fastest pace in almost 14 years in January, when the state power company intensified rolling blackouts. Annual food and non-alcoholic beverage inflation quickened …