South Africa’s failure to lower debt could trigger downgrade: Fitch

15 July 2020, 6:22 PM
A failure by South Africa to lower public debt risks triggering credit downgrades deeper into subinvestment, Fitch said on Wednesday.
Minister Tito Mboweni
Mboweni rallies for investment in South Africa 16 January 2019, 9:23 PM

Ramaphosa says unlike last year, currently there's a way forward to address Eskom's problems and other economic challenges.

Nelson Mandela Bay rejects Eskom’s proposed 15% tariff increase 16 January 2019, 8:31 PM

Residents, civil society groups and the business community in the Nelson Mandela Bay have rejected Eskom's application for a 15% tariff increase over three years.

Businesses cry out for Brexit clarity, warn of no-deal chaos 16 January 2019, 7:49 PM

Business leaders in Britain and beyond warned on Wednesday of catastrophic job losses and chaos at ports if the country does not agree a European Union withdrawal, turning up the heat on politicians to deliver clarity.

Wesgro keeping an eye on Brexit 16 January 2019, 6:40 PM

The Chief Executive Officer (CEO) Wesgro, Tim Harris, says the UK is Western Cape province's largest investor.

Gwede Mantashe
Mantashe, Xolobeni meeting cut short due to unruly residents 16 January 2019, 5:20 PM

The engagement session between Mineral Resources minister, Gwede Mantashe and the community of Xolobeni outside Mbizana in the Eastern Cape, was cut short due to unruly residents who began singing struggle songs.

R100 notes
Portfolio Committee on Labour to amend technical error to wage Act 16 January 2019, 4:10 PM

Parliament's Portfolio Committee on Labour has agreed to effect a technical amendment to the National Minimum Wage Act that came into effect at the beginning of the year.

Mc Donald's sign.
McDonald’s loses ‘Big Mac’ trademark case to Irish chain Supermac’s 16 January 2019, 10:39 AM

McDonald's Corp has lost its rights to the trademark "Big Mac" in a European Union case ruling in favour of Ireland-based fast-food chain Supermac's, according to a decision by European regulators.

The President and CEO of Ford Motor Company Jim Hackett, shakes hands with Volkswagen CEO Herbert Diess.
VW, Ford team up on trucks, eye deals on EVs, self-driving cars 16 January 2019, 7:51 AM

Volkswagen AG and Ford Motor Co said on Tuesday they will join forces on commercial vans and pickups and are exploring joint development of electric and self-driving technology, actions meant to save the automakers billions of dollars.

Mangaung Metro Municipality loses billion in water wastage 15 January 2019, 9:01 PM

Mangaung Metro Municipality has lost more than R1 billion in revenue on water wastage.

Mining sector facing decrease in production 15 January 2019, 8:52 PM

The sector continues to struggle following the policy uncertainty debacle it suffered in the recent past.

Mining prouduction remains stagnant 15 January 2019, 7:30 PM

The mining sector is still in doldrums even worse than economists had thought. Stats SA data shows mining production decreased by 5.6%year on year in November from an increase of 0.2 percent in October.

Nersa instructs Eskom to clarify fraud allegation 15 January 2019, 5:57 PM

The National Energy Regulator (NERSA) has asked Eskom to make public information around investigations into possible allegations of fraud, corruption and mismanagement at the power utility.

Mineworkers from Sibanye Gold's Masimthembe shaft operate a drill
Sibanye-Stillwater has contingency plans for strike at platinum operations 15 January 2019, 2:30 PM

Sibanye-Stillwater has contingency plans in place to minimize the possible impact of a strike at its South African platinum operations, Chief Executive Neal Froneman said.

Eskom with light bulb in the background.
Nersa unlikely to grant Eskom 15% tariff increase: Analyst 15 January 2019, 11:30 AM

Energy analyst, Chris Yelland, says energy regulator Nersa is unlikely to grant Eskom a 15% annual tariff increase for the next three years.

Counterfeit products a serious problem in SA 15 January 2019, 8:50 AM

Paul Ramara from Spoor and Fisher attorney says counterfeit goods impact South Africa’s economy.

Frankfurt International Airport.
Flights cancelled at eight German airports due to protests 15 January 2019, 6:45 AM

Hundreds of flights are to be cancelled at eight German airports, including at the nation's busiest travel hub - Frankfurt, as security staff walk off the job in a deepening row over pay.

Amcu to embark on secondary strike at Sibanye 14 January 2019, 9:39 PM

The Association of Mineworkers and Construction Union (Amcu) has unveiled plans to embark on a secondary strike at Sibanye Stillwater's platinum operations around Rustenburg.

SA economy expected to show signs of life in 2019: Moody’s 14 January 2019, 8:51 PM

Credit ratings agency, Moody's, has released a report on Sub-Saharan Africa - saying the South African economy is expected to show signs of life this year.

EITI logo
Argentina set to join global mining transparency initiative 14 January 2019, 8:50 PM

Resource-rich Argentina is expected to join the international transparency standard for managing oil, gas and mineral resources, the Extractive Industries Transparency Initiative (EITI) said on Monday, which could make it more attractive for investors.

Reserve Bank Governor Lesetja Kganyago
Analysts expect Reserve Bank to keep rates unchanged 14 January 2019, 6:04 PM

Analysts expect the South Africa Reserve bank to keep rates unchanged when it makes its decision on interest rates later this week.

Eskom paints bleak picture of its finances 14 January 2019, 3:24 PM

Eskom Chief Financial officer, Calib Cassim, has painted a bleak picture of the power utility's finances.

Eskom offices
Eskom will not be able to recover all its debt 14 January 2019, 12:25 PM

Eskom's Chief Financial Officer, Calib Cassim, says even with a 15% increase in electricity tariffs, the power utility will not be able to recover all its debt.

Fuel hike sparks protests in Zimbabwe 14 January 2019, 10:37 AM

Commuters were stranded in Zimbabwe's two main cities on Monday.

Morning Live Interview
“Black Economic Empowerment is a farce” 14 January 2019, 10:08 AM

Over half of South Africans are living in poverty, that is according to the Poverty Trends Report for 2006 to 2015.

Petrol drop pump
150% price rise fails to fill Zimbabwe’s fuel pumps 14 January 2019, 9:33 AM

A drastic 150% overnight rise in Zimbabwe's fuel prices failed on Sunday to ease a nationwide petrol and diesel shortage caused by a lack of hard currency.

China’s global trade surplus fell in 2018: customs 14 January 2019, 5:44 AM

China's global trade volume rose last year but its surplus fell again as its imports outpaced its exports, official data released Monday showed amid a bruising trade war with the United States.

Many Zimbabweans frustrated by fuel price increase 13 January 2019, 3:03 PM

Many Zimbabweans have reacted with frustration to President Emmerson Mnangagwa's sharp increase in the price of fuel.

Huawei sacks employee arrested in Poland on spying charges 13 January 2019, 10:02 AM

Chinese telecommunications equipment maker Huawei said on Saturday it had sacked an employee arrested in Poland on spying charges in a case that could intensify Western security concerns about the company.

Farmers predict higher maize prices due to drought conditions 12 January 2019, 9:05 PM

Free State Agriculture says food security will be extremely affected if weather conditions remain as they are.

Flooding at Limpopo’s Savannah Mall 12 January 2019, 7:05 PM

Heavy rainfall has again caused flooding at the Savannah Mall in Polokwane in Limpopo.