The rand fell in early trade on Monday amid subdued risk-taking as investors sought safety due to fears about global growth and the impact of load shedding.
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Eskom will increase the level of load shedding for Monday and Tuesday because it lost more generation capacity over the weekend.
Eskom burned through more than 5.7 billion litres of diesel and kerosene in the past decade as it fought in vain to keep the lights on South Africa.
Elon Musk put his $44-billion deal for Twitter “temporarily on hold” on Friday while he awaits data on the proportion of its fake accounts, sending the shares in the social media platform plunging.
South Africa will need to attract investment of R224-billion if it’s to develop a substantial green hydrogen industry, the head of government’s climate finance task team said.
MTN South Africa grew its subscriber base by 7.1% at the end of March 2022, from a year ago, to reach 34.5 million subscribers.
MTN Group lifted first quarter pretax profit by 21.1% year on year, supported by service revenue growth amid demand for data and financial services.
Cryptocurrencies nursed large losses on Friday, with bitcoin set for a record losing streak as the collapse of TerraUSD rippled through markets.
Two of South Africa’s biggest fibre providers, Vumatel and Dark Fibre Africa, are being folded into a new infrastructure holding company to be led by Vuma CEO Dietlof Mare.
A celebrated experiment that combined maths and software to get a digital currency to behave like a dollar is crashing in dramatic fashion.