In late June, the coldest part of the Southern Hemisphere winter, the power went out in South Africa. For as many as eight hours a day, right into early July, traffic …
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Capitec launches mobile network service with data that never expires
Capitec, South Africa’s largest retail bank by customers, has launched its own mobile virtual network operator (MVNO) service, called Capitec Connect, following in the footsteps of other local banks expanding …
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South African Airways slides to a new low in global airlines rankings
South African Airways (SAA) continues to slide down the ranks of the world’s best airlines, dropping for the fourth consecutive year to its worst place on record. Meanwhile, Ethiopian Airlines …
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South Africa produces first military aircraft since the 1980s
The Paramount Group has produced and sold the first military aircraft made in South Africa since the 1980s when state-owned arms maker Denel unveiled the Rooivalk, or red falcon, attack …
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South Africa’s Denel faces funding gap for restructuring
Cash-strapped state defence firm Denel will need around R3 billion (~$170 million) to cover a funding gap for a restructuring plan it is aiming to execute over the next 12 …
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South Africa signs R11bn wind energy deals to tackle energy crisis
The South African government on Thursday signed three renewable energy deals worth R11 billion with independent producers to supply wind energy amid worsening blackouts in the country. The three agreements …
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MultiChoice acquires its first non-entertainment business
MultiChoice has acquired its first non-entertainment business, emergency response app Namola, which offers users a platform to rapidly share their location with emergency responders. Once dubbed the ‘Uber for police’, …
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AFDB offers South Africa a financing deal to raise $41bn
The African Development Bank has suggested a plan to South Africa that will help the nation use the $8.5 billion in climate financing pledged by some of the world’s richest …
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SA Reserve Bank again hikes interest rates by 75 basis points
The SA Reserve Bank on Thursday raised its main lending rate by 75 basis points to 6.25%, for the second meeting in a row. Three members of the monetary policy …
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South Africa’s Blue Label finalises Cell C restructuring deal
South Africa’s Blue Label Telecoms Ltd announced Thursday that it had concluded an agreement to restructure and refinance mobile operator Cell C’s 7.3 billion rand ($411 million) debt to bolster its …