South Africa’s latest bout of political turbulence has reignited fears among international investors that the country is on the brink of losing its investment-grade status. Yields on the nation’s dollar bonds jumped the
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The rally that made South Africa’s rand the world’s best performing currency this year might be nearing its end, according to Old Mutual Investment Group. The currency gained 10% against the dollar
The constitutional court ordered South Africa’s welfare agency to extend Net1 UEPS Technologies’ contract to distribute grants to the poorest third of the nation’s people for a year to avoid a “potential catastrophe” and
The crisis swirling around South Africa’s system of welfare payments to the poorest third of its people has become a game of chicken. Social development minister Bathabile Dlamini insists that Net1 UEPS Technologies
The Internet Service Providers’ Association, a body that represents many of South Africa’s ISPs, on Tuesday accused communications regulator Icasa of ignoring a policy directive from telecommunications & postal
South Africa’s ruling party said the nation’s presidency should have stronger powers to drive government policy and allocate budget resources. “The presidency must be strengthened as the strategic centre of power in the state
One of the ANC’s signature programmes, a welfare system for the poorest third of South Africa’s people, is in chaos. The monthly stipends are distributed to more than 17m people by Net1 UEPS Technologies, whose
National treasury will not act illegally and approve a new welfare distribution deal with Net1 UEPS Technologies unless it has been sanctioned by the country’s constitutional court, the spokesman for the country’s ruling party said
South African welfare minister Bathabile Dlamini denied she was responsible for failing to ensure plans are in place to dispense welfare grants to more than 17m people when an existing disbursement contract with Net1
A stronger rand and falling inflation expectations may allow South African Reserve Bank governor Lesetja Kganyago to start cutting interest rates this year as long as political developments don’t derail the currency’s gains. Higher commodity prices and