South Africa’s economy avoided a second recession in seven years as mining and factory output rebounded. GDP rose an annualised 3,3% in the second quarter, compared with a 1,2% contraction the previous three months, the statistics office said in a report released
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South Africa has caught the world’s attention with an epic battle between two powerful factions within the governing ANC, which has spilt into government. Deputy President Cyril Ramaphosa has aptly described this as a government that wages
As South African finance minister Pravin Gordhan tries to fend off a police investigation, his department is engaged in open conflict with key state-owned companies over their management and spending plans. Threatened court action by the national
Gupta-owned Oakbay Resources and Energy has averted being booted off the JSE by securing a new sponsor with effect from Thursday. This comes after the Guptas announced last Friday that they would sell all their shares in their South African businesses by the end
Denmark’s Jyske Bank became the second money manager to say it won’t lend to Eskom after the nation’s biggest specialist fixed-income manager said it had stopped extending credit to state-owned companies amid
Eskom CEO Brian Molefe said the only thing he has been captured by is South Africa’s constitution. He was responding to parliamentarians on Wednesday, who were questioning Eskom’s relationship with Gupta-owned coal mining company Tegeta
The third unit at Ingula Pumped Storage Scheme was brought into commercial operation on Tuesday, Eskom CEO Brian Molefe announced on Wednesday. Each unit adds 333MW of peak power to the grid, which is key in the
South Africa’s credit rating would be cut and the rand would “buckle” if finance minister Pravin Gordhan is removed from his post, according to Goldman Sachs. The currency has slumped 6,2% since 23 August
Business leaders have rallied around finance minister Pravin Gordhan as he faces police investigations into allegations that he oversaw the establishment of an illicit investigative unit during his tenure as head of the national
Finance minister Pravin Gordhan said that he had done nothing wrong by authorising the establishment of a special investigative unit when he headed the national tax agency and he wouldn’t obey a police instruction to present