What happens when fevered foreign-exchange speculation meets fake news at the same time a satellite that shares the name of South Africa’s president goes missing? You get the South African rand on Tuesday, which suddenly spiked more than
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The rand fell, after clocking up its longest weekly winning run since 2010, as analysts at Rabobank and JPMorgan Chase & Co said the currency has rallied too far. The rand weakened as much as 1.3% against the dollar, set
After winning a bruising battle for control of South Africa’s ruling party, deputy President Cyril Ramaphosa now faces an even more daunting task: rebuilding an economy battered by years of misrule, corruption and the appointment
Deputy President Cyril Ramaphosa beat Nkosazana Dlamini-Zuma in a gripping battle for control of the ruling party, putting him on track to become the nation’s next leader. Ramaphosa, 65, won 52% of vote to 48% for Dlamini-Zuma, 68, the tightest
Almost a quarter of a century after Nelson Mandela led the ANC to power at the end of apartheid and the world heralded the birth of the “rainbow nation”, South Africa stands at a crossroads. As delegates of the ANC meet this weekend
Cyril Ramaphosa, one of two leading candidates contesting for the presidency of the ANC, said its leaders must unite the party after this month’s elective conference. “Our movement is divided and there are factions
Naspers is being probed by a US law firm over whether Africa’s biggest company by market value was involved in…
South Africa will study the cost of power generation from various projects and expects to announce a decision on new renewable sources by 7 December, according to energy minister David Mahlobo. The energy department has
In its annual assessment of the cabinet, the Democratic Alliance has given poor grades to the ministers of communications and telecommunications & postal services. South Africa’s largest opposition party scored telecoms
MultiChoice on Friday morning said that it is aware that its deal with ANN7 has caused “real public concern”. The broadcaster’s board has instructed its audit and risk committees to probe the contract. In a statement, MultiChoice