An economy stuck in the longest downward cycle since World War 2, chronic electricity shortages and soft business confidence – after 20 months running South Africa, patience is wearing thin with Cyril Ramaphosa.
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The PIC has been thrown into further turmoil after firing an assistant portfolio manager who warned that the organisation moved too quickly when investing in a little-known technology company.
Deloitte has become the latest international company dragged into South Africa’s government-linked corruption scandals.
Government has spent months mostly talking about how to save the debt-stricken state power utility Eskom, spur economic growth and get its shaky finances back on track. Financial realities may force an end to the dithering.
The South African Revenue Service has terminated the services of suspended IT chief Mmamathe Makhekhe-Mokhuane with immediate effect.
The South African Revenue Service has placed Mmamathe Makhekhe-Mokhuane, head of digital information services and technology, on precautionary suspension pending the finalisation of a disciplinary process.
South Africa’s biggest business lobby criticised the government’s handling of the crisis at power utility Eskom and said it was unrealistic in its approach to the country’s growing debt burden.
Top South African businessmen called upon to help save ailing state-owned companies are abandoning their posts, frustrated by indecision and political interference.
South African business leaders are becoming frustrated with the pace of reform under President Cyril Ramaphosa. His cabinet choices and spending pledges haven’t helped.
Denel has received a loan to pay its staff their full salaries this month, according to public enterprises minister Pravin Gordhan, giving the company a short-term reprieve from a cash crisis.