Author: Agency Staff

A meltdown at some of South Africa’s biggest state companies is intensifying, placing the nation’s finances at risk and frustrating President Cyril Ramaphosa’s efforts to attract new investment and resuscitate a moribund economy.

State-owned arms manufacturer Denel said it doesn’t have enough cash to pay its staff their full salaries this month, joining other government-owned companies clamouring for support in South Africa.

Much of the commentary about Facebook’s proposed libra coin has focused on its defects as a cryptocurrency. It’s more interesting to examine the process for creating libra rather than specific technical features.