S&P Global late on Wednesday downgraded its outlook on South Africa to “stable” from “positive”, citing infrastructure constraints and the severe power crisis.
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Business sentiment declined to a two-year low in the first quarter as severe power outages and dilapidated logistics networks hobbled economic activity.
The rand dropped sharply overnight and hit its lowest level in almost three years early on Wednesday. Blame the Fed.
South Africa’s economy shrank more than expected in the fourth quarter, when Eskom intensified rolling blackouts.
The major shareholder in technology group Jasco Holdings has firmed up plans to buy out minority investors and take the business private.
Tencent Holdings founder Pony Ma and others from China’s crackdown-hit Internet sector will be absent from this year’s parliamentary sessions.
Lescault and Walderman has bought a majority stake in AWCape, a South African Sage business partner, for an undisclosed sum.
The Financial Action Task Force is adding South Africa and Nigeria to its “grey list” of countries under special scrutiny to implement standards to prevent money laundering and terrorism financing.
The JSE said it has enough diesel on hand to burn in generators and keep its systems running for at least six or seven days.
Promoted | South Africa’s principal central securities depository and central collateral platform, Strate, has announced the acquisition of Trustlink.