News in South Africa 6th March: 1. Cabinet reshuffle: President Cyril Ramaphosa is set to announce changes to his executive on Monday evening. Presidency spokesperson Vincent Magwenya revealed this while giving an update on ”relevant topical issues of public and media interest” at the Union Buildings in Pretoria on Sunday. “The president will announce the […]
News in South Africa 3rd March: 1. R2.7b solar plant coming to the Eastern Cape: The Nelson Mandela Bay Municipality has announced plans to construct a R2.7 billion solar power plant in the area to help deal with load shedding. The Parsons Power Park project aims to bring 150MW to the area’s grid with the […]
News in South Africa 27th February: 1. Greylisting aftermath: The Financial Action Task Force (FATF) placed South Africa on its grey list on Friday. It was almost inevitable. The global anti-money laundering watchdog first warned the country of this possibility four years ago, in 2019, saying that there were severe deficiencies in our standards to fight […]
News in South Africa 23rd February: 1. Calib Cassim new Eskom CEO: Ailing state-owned power utility Eskom has appointed Calib Cassim as acting CEO following André de Ruyter’s immediate departure this week. Cassim’s appointment is effective immediately. “Eskom is pleased to announce the appointment of Calib Cassim as interim group chief executive officer with immediate […]
News in South Africa 20th February: 1. Stage 8 incoming: Experts, analysts and even Eskom itself are warning South Africans to brace for higher stages of load shedding. The embattled power utility announced on Sunday night (19 Febraury) that further breakdowns at its power stations have necessitated continuous stage 6 load shedding to be in […]
News in South Africa 14th February: 1. Rand crashes through R18/$: The rand is trading on the wrong side of R18/$ for the first time in more than three months, as expectations grow that US interest rates may still climb much higher. On Monday morning, the local currency declined to R18.06/$, after trading around R17.50 […]
News in South Africa 13th February: 1. 68% chance of recession: South Africa’s economy is increasingly vulnerable to a recession in the next 12 months, with an ongoing electricity crisis seen further curbing activity. The probability of a recession stands at 68%, up from odds of 45% in January, according to Bloomberg’s latest monthly survey […]
News in South Africa 10th February: 1. SONA 2023 disappointing: Reactions to president Cyril Ramaphosa’s State of the Nation Address are flooding in, with most commentators left wanting. Ramaphosa delivered his by-the-numbers address on Thursday evening (9 February), featuring all the qualities South Africans have come to expect from the annual event. Proceedings were disrupted […]
News in South Africa 8th February: 1. Investors abandon SA: Investors have lost faith in South Africa’s government and have halted investment despite a wealth of opportunities, the head of the country’s biggest employer in the crucial mining industry said. More than 200 days of power cuts last year and blackouts every day so far […]
News in South Africa 7th February: 1. 100 consecutive days of load shedding: Energy minister Gwede Mantashe says that the ongoing energy crisis in South Africa is an “irritation” to society, and if it is not resolved, it could lead to a revolt among the populace. Speaking at the Investing in Africa Mining Indaba on […]
