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African News Agency

AU to send 5 000 troops to troubled Burundi – diplomats

18th December 2015 The African Union (AU) Peace & Security Council (PSC) decided to send a 5 000-strong peacekeeping mission to Burundi to prevent the growing violence there spinning out of control. Diplomats said on Thursday the council had recommended that the African Prevention & Protection Mission in Burundi... 

MTN to challenge Nigerian fine in court

18th December 2015 Telecommunications giant MTN Holdings said on Friday that it had instructed its lawyers to proceed with an action in the High Court in Lagos to challenge the large fine imposed by the Nigerian Communications Commission (NCC). The fine – originally for the equivalent of $5.2-billion, but reduced... 

Barclays possibly seeking suitor for Absa in wake of Finance Minister shuffle

17th December 2015 It was being reported on Thursday that Barclays, the British bank, was actively looking for a suitor for its South African unit, Absa, after the recent merry-go-round at the country’s foreign ministry. The Financial Times of London ran an article on Wednesday under the headline, ‘Barclays... 

US Fed raises interest rate, downplays negative spillover impact on emerging markets

17th December 2015 The US Federal Reserve (Fed) on Wednesday decided to raise benchmark interest rate by 25 basis points, the first interest rate increase since 2006 and marking the end of an era of extraordinary easing monetary policy. “Given the economic outlook, and recognising the time it takes for policy... 

Former SA Transport Minister in court on charges of fraud and corruption

15th December 2015 Former Transport Minister Sibusiso Ndebele has appeared in the Durban Commercial Crimes Court on charges of fraud and corruption. National Prosecuting Authority (NPA) spokesperson Advocate Luvuyo Mfaku confirmed to African News Agency that Ndebele was released on R10 000 bail on Tuesday morning. 

Gordhan says Nene’s veto on changes to SAA-Airbus deal stands

14th December 2015 Finance Minister Pravin Gordhan on Monday said his predecessor Nhlanhla Nene’s recent refusal to allow South African Airways to amend its contract with Airbus stood. Back in the portfolio after days of extraodinary upheaval following Nene’s sacking, Gordhan told a media briefing he would call... 

Gordhan confirms SA to embark on nuclear procurement

14th December 2015 Finance Minister Pravin Gordhan on Monday confirmed a government decision to proceed with nuclear procurement. “There will be a formal procurement process,” Gordhan said at a press conference in Pretoria on Monday. 

President Jacob Zuma must consider quitting – ANC stalwart

14th December 2015 ANC stalwart Ben Turok on Monday told Talk Radio 702 that President Jacob Zuma should “consider his position” after he created a fiasco, which saw South Africa have three Finance Ministers in four days. Zuma inexplicably fired respected finance minister Nhlanhla Nene on Wednesday and replaced him... 

African Development Bank to expand climate funding avenues

11th December 2015 The African Development Bank (AfDB) is planning to expand the Climate Development Fund for Africa into a trust in a bid to open up international investment avenues to advance the continent’s readiness for climate-resilient, low-carbon development and green growth. The announcement was made on... 

Murray & Roberts slapped with R64m fine

11th December 2015 The Competition Commission of South Africa on Thursday confirmed it had issued a R64.1-million fine to construction giant Murray & Roberts for its involvement in sector collusion related to construction projects for the 2010 World Cup. “Yesterday [on Wednesday], the competition tribunal confirmed... 

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