The head of national treasury, Lungisa Fuzile, has asked to leave his post at the end of this month, a year before his contract runs out, according to three people with knowledge of the matter. Fuzile, 51, informed
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South Africa’s new finance minister, Malusi Gigaba, will have to steer an economy that’s barely growing, fend off a junk credit rating and reassure investors that he’ll protect the national treasury’s
South Africa’s rand headed for its biggest weekly slide since 2015, after the firing of finance minister Pravin Gordhan raised concerns about the country’s fiscal path and its investment-grade credit rating. President Jacob
The ANC has a choice: it can help President Jacob Zuma, or it can help the country. Its survival as a respected national force depends on doing the latter. Support for the ANC has fallen amid charges of
South Africa’s latest bout of political turbulence has reignited fears among international investors that the country is on the brink of losing its investment-grade status. Yields on the nation’s dollar bonds jumped the
President Jacob Zuma told senior leaders of the South African Communist Party that he plans to fire finance minister Pravin Gordhan, according to three people with knowledge of the matter. The rand plummeted. Zuma told officials
Johannesburg’s new mayor, Herman Mashaba, says he’s on a mission to clean up Africa’s richest city, and the prime targets in his sights are undocumented immigrants and allegedly corrupt deals by
South Africa’s ruling party said the nation’s presidency should have stronger powers to drive government policy and allocate budget resources. “The presidency must be strengthened as the strategic centre of power in the state
South Africa’s ruling party is at risk of further splits amid a battle for senior positions in the ANC, deputy secretary-general Jessie Duarte said. There is intense jostling to replace President Jacob Zuma
A stronger rand and falling inflation expectations may allow South African Reserve Bank governor Lesetja Kganyago to start cutting interest rates this year as long as political developments don’t derail the currency’s gains. Higher commodity prices and