McKinsey & Co has apologised to South Africa again over how business was handled with state-owned Eskom, saying it overcharged the utility and was slow to admit wrongdoing. The consulting firm admitted
Browsing: Current affairs
South Africa’s cash-strapped power utility is “a threat” to the nation’s investment strategy, finance minister Nhlanhla Nene said on Thursday. The government plans to offer incentives to lure $100-billion
South Africa’s inflation rate fell in May as food prices rose at the slowest pace since 2013, reducing chances that the central bank will increase interest rates later this year. Consumer prices climbed 4.4% from a year
Eskom and its labour unions have agreed to hold new negotiations over pay, the government said, ending protests at power plants that have caused disruptions to power supply. Public enterprises minister Pravin Gordhan
State-owned power utility Eskom said it will start rolling blackouts for the first time since 2015 as protesting workers blockaded plant entrances and disrupted distribution networks. “Acts of intimidation and sabotage have
The rand extended a slump after breaching R13/US$ for the first time since December as investors bet there’s little chance the nation’s central bank will follow emerging-market peers in raising interest rates
South Africa’s economy contracted the most in nine years in the first quarter of 2018 as mining and factory output fell. GDP shrank an annualised 2.2% in the first quarter of the year compared to the prior three
Bearish signs are stacking up for South Africa’s rand. Volatility is rising and with it the cost of protecting against a weakening currency, short positioning is soaring and foreigners are fleeing South African bonds at a
South African business confidence has declined to levels last seen when Jacob Zuma was still the president. The index dropped to 96 in April from 97.6 the previous month, the South African Chamber of Commerce
South Africans are apparently so elated at the exit of Jacob Zuma as president that their confidence as consumers has made an unprecedented jump to an all-time high. The 34-point move in First National Bank’s index