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Ramaphosa's stimulus plan could push rand to R14/$

21st September 2018 The rand started Friday off on the front foot, adding to Thursday's 2% gain against the US dollar on good CPI data, healthy inflow in the bond market and as traders await President Cyril Ramaphosa's stimulus package. The local unit added 0.5% to R14.21 to the US dollar before retreating to the... 

SARB keeps repo rate unchanged at 6.5%

20th September 2018 The South African Reserve Bank announced on Thursday afternoon that it will keep the repo rate unchanged at 6.5%.  The announcement was made by the central bank's governor Lesetja Kganyago at a media briefing in Pretoria.  

Ramaphosa to unveil economic stimulus package on Friday

20th September 2018 President Cyril Ramaphosa will unveil a stimulus package that he hopes will kick-start South Africa’s lagging economy on Friday morning.  Cabinet has signed off on the measures, which they hope will reignite economic growth, said Minister of Communications Nomvula Mokonyane on Thursday morning. 

Cosatu elects its first female president

18th September 2018 Zingiswa Losi has been elected president of trade union federation the Congress of South African Trade Unions (Cosatu) after being nominated unopposed. The nominations of South Africa’s largest labour federation took place on Tuesday morning where Losi and the rest of the top six were nominated... 

Cronin lifts veil on new draft expropriation law

18th September 2018 A new expropriation bill, set to be tabled in Parliament in the next two months, will set out a clear procedure for land expropriation without compensation and ensure it is an “administratively just process”, according to Deputy Minister of Public Works Jeremy Cronin.  Earlier this month a draft... 

Western Cape farmers call for easing of water restrictions to repair drought damage

18th September 2018 Western Cape farmers are calling on government to reveal how much water they are likely to be allocated this summer, so they can make plans to fix the damage caused by the 60% cut in their water supply. Some farmers say they have already experienced their Day Zero – now they want to know if they... 

Poultry industry takes on US chicken quota as court case brews

17th September 2018 The South African Poultry Association (SAPA) wants government to review the quota of US poultry imports, following the imposition of tariffs on local aluminium and steel products. In court papers filed in the North Gauteng Court, the organisation argues that US tariffs on SA steel and aluminium... 

ANC, ministers threatened Standard Bank to force it to keep Gupta accounts open, State capture commission hears

17th September 2018 Former mineral resources minister Mosebenzi Zwane threatened Standard Bank's operating licence and threatened to change the banking laws, all in an effort to allow the politically connected Gupta family to keep their bank accounts open. This is according to Standard Bank's former head of... 

Mabuza: 'Surgical and difficult austerity measures' may be necessary

14th September 2018 Deputy President David Mabuza said on Friday during his address to the annual Nedlac conference in Johannesburg that the state may have to implement "surgical and difficult austerity measures”. He also called on local South African companies with cash reserves to start investing in SA, saying... 

Ramaphosa assures diplomatic community that land reform will be done in an 'orderly manner'

14th September 2018 Land redistribution is necessary to correct the injustices of South Africa’s apartheid history, President Cyril Ramaphosa told the diplomatic community in Pretoria on Friday. "Parliament is considering whether Section 25 needs to be amended or not to allow for expropriation of land without... 

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