Five Newsworthy Things in SA 15th November 2019:

Financial News in South Africa 15th November: 1. Numsa strike started this morning: After a meeting on Thursday afternoon, the National Union of Metalworkers of South Africa and the South African Cabin Crew Association rejected the latest offer by South African Airways. The strike called by the two unions, and their 3 000 members at […]

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Five Newsworthy Things in SA 14th November 2019:

Financial News in South Africa 14th November:  1. Strikes loom ever closer for SAA: If their demands are not met, the “mother of all strikes” will start at South African Airlines and SAA Technical on Friday morning, unions warned at a media briefing in Johannesburg on Wednesday. The National Union of Metalworkers of South Africa […]

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Five Newsworthy Things in SA 13th November 2019:

Financial News in South Africa 13th November 1. Telkom keen to buy Cell C: Telkom is keen to buy Cell C, according to sources in the companies. Telkom also posted a sharp fall in its profits as it invests billions in its mobile service. Telkom offered to buy Cell C and combine South Africa’s two smallest mobile […]

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Five Newsworthy Things in SA 12th November 2019:

Financial News in South Africa 12th November: 1. SAA retrenchment plans: South African Airways (SAA) announced on Monday afternoon that has informed its 5 146 employees that it is embarking on a restructuring process which may lead to job losses. The restructuring excludes SAA subsidiaries SAA Technical, Mango Airlines and Air Chefs. The retrenchments could […]

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Five Newsworthy Things in SA 11th November 2019:

Financial News in South Africa 11th November: 1. No Loadshedding but Eskom still unstable: No load shedding over the weekend, but Eskom says the power system remains “extremely constrained and vulnerable”. Eskom said in a statement on Sunday morning that it wants to remind South Africans that loadshedding is a last resort to protect the […]

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Five Newsworthy Things in SA 8th November 2019:

Financial News in South Africa 8th November: 1. More Loadshedding: Eskom suddenly announced on Thursday evening that it will implement stage 2 loadshedding from 22:00 this evening until 05:00 on Friday morning. This was because on Thursday it lost three additional generation units and had to use its emergency reserves in order to meet demand […]

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Five Newsworthy Things in SA 5th November 2019:

Financial News in South Africa 5th November: 1. South Africa’s second Investment Conference starts today: President Cyril Ramaphosa’s second South Africa Investment Conference starts today in Sandton. Yesterday, he appointed former ministers Jeff Radebe and Derek Hanekom new envoys to help with his drive to attract $100bn in new investment. Former Energy Minister Jeff Radebe […]

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Five Newsworthy Things in SA 4th November 2019:

Financial News in South Africa 4th November: 1. Moody’s cuts outlook to negative: Moody’s didn’t downgrade South Africa to junk on Friday night. But our outlook has been cut to “negative” – the last step before junk. “The negative outlook signals in part Moody’s rising concern that the government will not find the political capital […]

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Five Newsworthy Things in SA 1st November 2019:

Financial News in South Africa 1st November 2019:  1. Moody’s decision pending: Moody’s will announce its decision on SA’s rating tonight. With any luck, we won’t be immediately downgraded to junk – our outlook would go down to “negative” first. The rand weakened as much as 1.2% against the dollar after Finance Minister Tito Mboweni […]

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Five Newsworthy Things in SA 31st October 2019:

Financial News in South Africa 31st October: 1. Medium term budget grim: Yesterday’s medium-term budget was a disappointment on all fronts. The numbers were grim: there’s  a projected tax shortfall of R53bn and the national debt now tops R3trn and may grow to R4.5trn by 2022/23 – or 71.3% of GDP. The finance minister said on […]

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