Ayo Technology Solutions allegedly rushed the listing process due to fears that it would not be able to secure funds from the PIC after the ANC elected a new leader at its December conference.
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Finance minister Tito Mboweni said a discussion must begin on whether the government needs to retain control of all the assets it currently owns given the poor state of the national finances.
To reignite growth in a stagnating economy and lower one of the world’s highest unemployment rates, President Cyril Ramaphosa may need to take on the movement he helped create.
The former acting CEO of South Africa’s state power utility blamed its crippling levels of debt on excessive costs incurred in building new plants and denied that it could be attributed to corruption.
South Africa’s economic growth slowed less than expected in the fourth quarter as domestic fixed investment slumped.
With South Africa’s state electricity utility in dire financial straits and straining to meet demand, the government has reverted to courting independent renewable energy producers to help power the economy.
A South African company embroiled in allegations that it paid millions of rand a month in bribes to secure government contracts is facing collapse.
A lobby group representing South African banks has urged President Cyril Ramaphosa to prioritise the country’s wider interests rather than securing votes for the ANC.
Eskom said it will likely end rolling blackouts on Friday after it repaired some power plants and replenished diesel and water supplies at others.
President Cyril Ramaphosa unveiled plans to revive the flagging economy and create jobs, including removing obstacles to investing and doing business, attracting more tourists and stepping up the fight against graft.