South Africa’s Rica legislation, which governs the ability of the state to spy on the electronic communications of citizens, is unlawful, the high court in Johannesburg has ruled.
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South Africa is in a precarious state and urgent action is needed to stabilise its finances, according to former deputy finance minister Mcebisi Jonas, who will assume the role of MTN Group chairman in December.
Finance minister Tito Mboweni’s plan to pull the economy out of its longest downward cycle since 1945 may have put him on a collision course with cabinet colleagues, fellow ruling-party members and labour unions.
President Cyril Ramaphosa is hamstrung by politics and the economy is suffering the consequences.
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.
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.
A meltdown at some of South Africa’s biggest state companies is intensifying, placing the nation’s finances at risk and frustrating President Cyril Ramaphosa’s efforts to attract new investment and resuscitate a moribund economy.
State-owned arms manufacturer Denel said it doesn’t have enough cash to pay its staff their full salaries this month, joining other government-owned companies clamouring for support in South Africa.
South Africa simply has to rescue the nation’s distressed power utility. Even though it can’t afford to.
Government is considering a R3.2-billion guarantee for the country’s cash-strapped national broadcaster to help it raise money from lenders, according to a report.