President Cyril Ramaphosa announced sweeping changes to the nation’s electricity industry to address energy shortages and reduce reliance on debt-stricken state power utility Eskom.
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Cosatu said it won’t reach a pact with business on how to resolve the debt crisis at Eskom by the time President Cyril Ramaphosa gives his state-of-the-nation speech on Thursday.
Administrators for South Africa’s loss-making state airline have defended their decision to cut routes as part of a turnaround plan, after objections from President Cyril Ramaphosa, government and labour unions.
Proposals to reorganise the R454-billion owed by Eskom are days away from completion, according to an official who’s overseen their formulation.
The bold proposal by Cosatu to relieve Eskom of close to 60% of its debt using pension money may be presented by President Cyril Ramaphosa in next week’s state of the nation address.
President Cyril Ramaphosa defended his track record on reform and said policy measures being implemented by the government will yield stronger economic growth in time.
Less than a month into 2020, South African companies have already announced thousands of job cuts. In a country where a third of the labour force is already unemployed, this will put even more strain on economic growth.
Communications minister Stella Ndabeni-Abrahams has slammed a Sunday Independent report, in which she is accused of misusing taxpayers’ money, describing the article as a “malicious smear campaign”.
A report on Sunday said communications minister Stella Ndabeni-Abrahams allegedly used taxpayers’ money to to pay for her seventh wedding anniversary celebrations.
The ANC’s top decision makers have met to discuss how to deal with ailing state-owned companies whose deteriorating finances have emboldened critics of President Cyril Ramaphosa.