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South Africa

SA Reserve Bank to cut rates 25 bps to 8.00% on Sept. 19

SA Reserve Bank By Vuyani NdabaSouth Africa’s Reserve Bank is expected to cut interest rates for the first time in more than two years – by 25 basis points to 8.00%…

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Boost for MK Party as Floyd Shivambu crosses floor

Floyd ShivambuJOHANNESBURG – The deputy leader of the South African opposition party the Economic Freedom Fighters (EFF) said on Thursday he was resigning to join the party led by former president Jacob Zuma, uMkhonto we Sizwe (MK).Floyd…

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South Africa’s unemployment rate climbs for third quarter in a row

FILE PHOTO: Job seekers wait beside a road for casual work offered by passing motorists in Eikenhof, south of Johannesburg, South Africa, November 20, 2023. REUTERS/Siphiwe Sibeko/File PhotoBy Kopano GumbiPRETORIA –…

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Sasol appoints new finance chief

SasolSouth African petrochemicals company Sasol has promoted Walt Bruns to chief financial officer, it said on Tuesday, replacing Hanre Rossouw at the start of next month.Sasol said Rossouw resigned to pursue…

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South Africa battles to fund vital grid upgrade for green energy

A person walks past power linesBy Tim CocksPRETORIA – South Africa’s plan to expand its power grid, now the biggest bottleneck to replacing coal with renewables, has hit a snag: finding…

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South African rand edges lower as cabinet announcement nears

FILE PHOTO: A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016. REUTERS/Philimon BulawayoJOHANNESBURG – The South African rand edged lower on Wednesday, as an announcement…

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South African rand edges higher ahead of rate decision

FILE PHOTO: South African Rand coins are seen in this photo illustration taken September 9, 2015. REUTERS/Mike HutchingsJOHANNESBURG – The South African rand edged higher at the start of a…

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South Africa’s Transnet seeks government bailout as debt mounts

Container ships are seen outside the harbour as workers at South Africa’s state-owned logistics firm Transnet continue to protest outside the Port of Cape Town on their nationwide strike action…

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Weakening Rand detrimental to foreign public debt – Economists

By Bahle GamaThe reports of the Rand grappling to stay afloat have been circulating regionally and globally causing panic in several markets. The Lilangeni is pegged with the Rand at…

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‘The Thabo Bester Story’ set to hit the bookshelves this October

A book on Thabo Bester to be released soon.Award-winning journalists Marecia Damons and Daniel Steyn are set to release their compelling joint project “The Thabo Bester Story: The Facebook rapist,…

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