Category: Southern Africa
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South Africa’s net reserves rise to $40.826 billion in June
South Africa’s net gold and foreign exchange reserves rose to $40.826 billion in June from $40.48 billion in May, Reserve Bank data showed on Thursday. Gross reserves rose to $46.366 billion from $46.081 billion previously, the central bank said. The forward position, which represents the central bank’s unsettled or swap transactions, edged down to $1.616…
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Zimbabwe:Businesses shut down as protests darken Harare
Darkness hung over Harare’s central business district, which looked dark and abandoned by 19:00 on Wednesday after Pick n Pay, OK Zimbabwe, Chicken Inn and Nando’s outlets closed down at 18:00. These were the few businesses that were open on Wednesday as protests called to raise public disgruntlement over corruption, delayed salaries for civil servants…
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Zim deploys police amid economic shutdown
Zimbabwe deployed police in townships around the capital, Harare, on Wednesday amid calls for a strike by state workers over an economic collapse that has led to a shortage of cash, import controls and the failure of the government to pay salaries on time. While the government warned workers not to join the stay away,…
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Zimbabwe: Ministry Engages SA Firm Over NRZ Deal
The Ministry of Transport is in negotiations with South Africa’s Transnet Limited over a partnership deal with the National Railways of Zimbabwe. The deal, if successful will secure funding required for the rehabilitation of Zimbabwe’s rail network. Government is also in talks with the Development Bank of South Africa with the aim of securing further…
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S.Africa’s Uber drivers unionise
Five hundred Uber drivers in South Africa have joined the South African Transport and Allied Workers’ Union (SATAWU) because, they say, they are exploited by the cut price taxi company. They also plan to take the company to the labour court. There are more than 4,000 Uber drivers operating in South Africa, with 2,500 operating…
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Zimbabwe: ‘Import Controls to Boost Capacity, Save Jobs’
Nestle Zimbabwe says measures taken by Government to restrict certain imported products will allow it to fully utilise the idle capacity into which it had recently invested. Country manager for Zimbabwe Ben Ndiaye said the company has invested $30 million over the past five years, demonstrating its commitment to Zimbabwe. As such, he said to…
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Zimbabwe: NSSA Faces $1,7 Million Lawsuit
National Social Security Authority (NSSA) guaranteed $17,5 million in loans extended to a private company, Africom (Pvt) Ltd, by Stanbic Bank Zimbabwe Limited in 2011 and 2013. Africom failed to pay back the full amount with around 10 percent ($1 712 475,59) still outstanding. Stanbic Bank a fortnight ago issued summons at the High Court,…
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South Africa:Brown suspends pay hikes for Eskom execs
Public Enterprises Minister Lynne Brown is holding off remuneration increases for Eskom’s executives, but she approved a 4.6% increase for non-executives. “Public Enterprises Minister Lynne Brown … approved a below inflation increase of 4.6% in non-executive remunerations for the company, and has decided to defer the decision regarding remuneration increases for Eskom’s executives,” the power…
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South Africa:Wage talks deadlock between South African union Numsa, retail motor industry
Wage talks between South Africa’s main manufacturing union and employers in the auto component sector hit a deadlock on Friday, raising fears of labour unrest potentially affecting car makers such as Ford, Volkswagen and Toyota. The talks reached a stalemate after the National Union of Metal Workers of South Africa’s (Numsa) demand for a one-year…
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Zimbabwe: Govt Sets Aside U.S.$52 Million for Cotton Farmers
GOVERNMENT has set aside $52 million to support cotton farmers with inputs this farming season. According to Cotton Company of Zimbabwe managing director Engineer Chris Murove, 400 000 hectares will be put under cotton. He said this during a meeting with cotton farmers in Gokwe-Nembudziya over the weekend. Eng Murove said Cottco was ready to…