Category: Southern Africa
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S.A: This is what S&P will be looking for in S.A’s mini-budget
When Standard & Poors gave South Africa a stay of execution in June, they cited three factors that would result in a ratings downgrade in December. First and foremost, their key long-term measure is the country’s growth rate, which would need to show improvement. On this point, growth has picked up somewhat, but not nearly…
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S.A’s Telkom states its position on Integrated ICT Policy White Paper
Telkom has welcomed the publication of the Integrated Information and Communication Technology Policy White Paper noting in particular the policy’s attempt to balance universal access with the need to innovate and grow the industry. Speaking at a technology conference today, Chief Commercial Officer, Dr Brian Armstrong set out Telkom’s high-level observations on the positive and…
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Cost of power generation in SA
The Energy Centre of the CSIR has moved to provide updated and consistent information on the cost of new power from wind, solar PV, baseload coal IPP, baseload Eskom coal, and nuclear power generation technologies in South Africa. In a presentation dated 14 October 2016, the head of CSIR’s Energy Centre, Dr. Tobias Bischof-Niemz, and Ruan…
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S.A:Retailers have a role in transforming economy – Pick n Pay
As always, I want to begin by thanking the Pick n Pay team for delivering this result. Everyone in our business plays their part – colleagues who work in our supply chain, our stores, and of course Richard and his team, who drive the operation from the centre. It has not been an easy six…
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World Bank bemoans growing inequality in sub-Saharan Africa
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A new research released by the World Bank at a forum called “End Poverty” has bemoaned the growing level of poverty in sub-Saharan Africa. According to the report, the inequality gap between the poor and the rich has widened due to excess focus on urban development to the neglect of agriculture. Attributing the phenomenon to…
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S.A finmin Pravin Gordhan’s affidavit shows suspicious Gupta transactions worth $490mn
South African Finance Minister Pravin Gordhan has revealed in a court affidavit distributed by the Treasury on Sunday that 6.8 billion rand ($490 million) in payments made by wealthy brothers Ajay, Atul and Rajesh Gupta, companies they control, and other individuals with the same surname have been reported to authorities as suspicious since 2012. The…
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South Africa’s sugar tax could include pure fruit juices
South Africa could add pure fruit juices to the list of drinks expected to face a levy under a proposed tax on sugary drinks, the Treasury has said, in a country where more than half of adults are overweight. In his budget speech in February, Finance Minister Pravin Gordhan proposed the tax on sugary drinks…
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S.A:MTN Zakhele Futhi offer extended by a week
Black investors and groups hoping to get a slice of mobile operator MTN, through MTN Zakhele Futhi, at a discount rate now have an additional week to do so. The offer has been extended to Friday, 28 October 2016 at 4pm CAT. MTN Zakhele Futhi, an empowerment scheme, affords historically disempowered black South African individuals…
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S.A: Banking Association South Africa concerned at timing of Gordhan summons
The Banking Association South Africa (BASA) notes the announcement by the National Prosecuting Authority regarding the allegations against the Minister of Finance Pravin Gordhan and its decision to issue a summons to Minister Gordhan, former Sars commissioner Oupa Magashula and former deputy Sars Commissioner Ivan Pillay. BASA is fundamentally concerned with the timing of this…
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SA:Disappointment for Kenyan travellers as SA maintains visa rules
Kenya and South Africa have inked deals in military and police cooperation as well as agreeing to jointly invest in the Lamu Port South Sudan-Ethiopia Transport (Lapsset) corridor even as the country remained non-committal on easing visa restrictions for Kenyans. South African President Jacob Zuma, who is on three-day state visit to Nairobi, however said…