Five Newsworthy Things in SA 9th December 2019:

Financial News in South Africa 9th December: 1. Loadshedding continues: After losing additional generating capacity, Eskom announced on Monday morning that it would be moving to stage 4 load shedding from 10:00. The power utility announced on Sunday evening that it would be implementing stage 2 rotational power cuts all day on Monday. It previously said it […]

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Five Newsworthy Things in SA 6th December 2019:

Financial News in South Africa 6th December:  1. Loadshedding returns: Unplanned breakdowns triggered stage two load shedding, which ended at 05:00 this morning. The overnight cuts will give it time to marshal emergency resources, Eskom said, which it hopes will limit load shedding in coming days. Eskom said that unplanned breakdowns are currently above 12 […]

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Five Newsworthy Things in SA 5th December 2019:

Financial News in South Africa 5th December: 1. SAA in business rescue: In a statement in the early hours of this morning, government confirmed that SAA will be placed into business rescue immediately. Government will give SAA an extra R2 billion, but insists it isn’t a bailout. This decision was taken by its board, and […]

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Five Newsworthy Things in SA 4th December 2019:

Financial News in South Africa 4th December: 1. SA’s economy shrinks: SA’s economy shrank by 0.6% in the three months to end-September. The mining industry contracted by 6.1%, while manufacturing decreased by 3.9%. This is the second time this year that SA’s economy has contracted.  In the second quarter of the year the economy grew by […]

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Five Newsworthy Things in SA 3rd December 2019:

Financial News in South Africa 3rd December: 1. Cellphone companies to lower data prices: The Competition Commission has ordered SA’s cellphone company to lower their data prices, or face prosecution. The share prices of MTN and Vodacom slumped in response. This is just one of the recommendations the Commission made in its final report on […]

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Five Newsworthy Things in SA 2nd December 2019:

Financial News in South Africa 2nd December: 1. SAA to take steps ensuring its survival: AA will go through a  “radical restructuring process” to ensure its survival, the department of public enterprises said on Sunday. It’s not clear whether government agreed to an urgently needed R2 billion bailout, but said that “SAA cannot continue in […]

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Five Newsworthy Things in SA 29th November 2019:

Financial News in South Africa 29th November: 1. Flight Centre stops selling SAA tickets: Travel group Flight Centre has stopped selling South African Airways tickets, citing “ongoing concerns” about the airline’s financial stability. According to its website, Flight Centre South Africa, a subsidiary of the Flight Centre Travel Group, is the country’s largest travel specialist […]

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Five Newsworthy Things in SA 28th November 2019:

Financial News in South Africa 28th November: 1. SAA at a breaking point: SAA is close to collapse. The department of public enterprises issued a warning last night that due to the strikes SAA has reached a point where the company can no longer continue to operate “as is”. In a statement issued on Wednesday […]

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Five Newsworthy Things in SA 27th November 2019:

Financial News in South Africa 27th of November: 1. President addresses Medupi staff: In an address yesterday, President Cyril Ramaphosa told workers and staff at the embattled Medupi power station six times that Eskom would not be sold off or privatised. The ballooning costs of the Medupi and Kusile coal-fired power stations have put Eskom’s […]

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Five Newsworthy Things in SA 26th November 2019:

Financial News in South Africa 26th November: 1. Eskom threatens power interruption: Eskom will interrupt power to three municipalities in the Free State, including the Mangaung Metropolitan Municipality where Bloemfontein is located, unless it gets paid for the provision of electricity. The other two affected municipalities are the Mafube and Mantsopa local municipalities. The power […]

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