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African News Agency

Downgrading of Durban naval facilities a mistake, admits Mapisa-Nqakula

8th December 2015 A decision taken more than a decade ago to close Durban’s naval facilities was a mistake, South Africa’s Minister of Defence and Military Veterans Nosiviwe Mapisa-Nqakula said on Tuesday. Mapisa-Nqakula made the comments at a sod-turning ceremony ‎held at the Salisbury Island Naval Station to... 

Africa wants to process own minerals – Zuma

4th December 2015 African countries want to process their minerals on the continent, rather than export them for beneficiation overseas, President Jacob Zuma said on Friday at the Forum for China-Africa Cooperation Summit (FOCAC) currently underway in Johannesburg. “We want to prioritise beneficiation and... 

Analysts forecast Fitch will downgrade SA to BBB- status: report

4th December 2015 A Bloomberg survey showed analysts overwhelmingly expected South Africa’s creditworthiness to be downgraded to one level above junk status on Friday by Fitch Ratings agency. It said 12 out 13 analysts it interviewed expected Fitch to hand the country a BBB- rating. The view is based in part on... 

Medupi Power Station declared a national key point

3rd December 2015 Medupi Power Station has been declared a national key point, Eskom has announced. The national power utility said an inauguration ceremony was carried out at the site on Wednesday. 

Transnet secures $2.5bn guarantee from Chinese agency

3rd December 2015 Transnet and China Export Credit Insurance Corporation (Sinosure) on Wednesday agreed to a $2.5-billion funding guarantee in a ceremony attended by South African President Jacob Zuma and his Chinese counterpart Xi Jinping, who is on a State visit to South Africa. The news came in a flurry of... 

South Africa and China sign megadeals worth R94-billion

3rd December 2015 South Africa and China signed agreements worth R94-billion, shortly after Chinese president Xi Jinping arrived for a state visit in Pretoria, President Jacob Zuma said on Wednesday. “We focused especially on our economic and trade relations. We have just witnessed the signing of 26 agreements... 

PIC concludes transaction to buy government’s stake in Vodacom

2nd December 2015 The Public Investment Corporation (PIC) has finalised its deal to buy the South African government’s 13.9% equity stake in Vodacom, the investment managers said in a statement on Wednesday. “This is a culmination of the process that began in the first quarter of 2015, which saw the first tranche... 

Climate change already affecting SA, Presidency

30th November 2015 South Africa is already feeling the negative effects of global warming, the Presidency said on Monday ahead of the Paris climate change summit. In a statement the Presidency qouted Environmental Affairs Minister Edna Molewa as saying: “The impacts of climate change affect everyone, and will... 

Fire Miyeni and sell SAA – DA

30th November 2015 It is no longer tenable for the people of South Africa to continue to fund South African Airways (SAA) and SAA board chairperson Dudu Miyeni’s perpetual mismanagement, the Democratic Alliance (DA) said on Sunday. A report in Sunday’s City Press newspaper, which revealed that SAA’s annual... 

Government finalising appointment of new SAA board

26th November 2015 The Presidency on Thursday said that the government was in the process of “finalising” the appointment of a new SAA board. In a statement responding to queries about the role of Deputy President Cyril Ramaphosa in turning around loss-making parastatals, Ronnie Mamoepa of the Presidency said: “The... 

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