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Markets brace on renewed downgrade fears

31st March 2017 Markets braced on Friday morning as fears of an imminent ratings downgrade came back into focus as South Africa woke to the news of Thursday’s late night cabinet reshuffle by President Jacob Zuma. The long-expected axing of the country’s respected finance minister, Pravin Gordhan, and his deputy,... 

Maimane calls for Parliament to defend Constitution, fire Zuma after Gordhan axed

31st March 2017 Democratic Alliance leader Mmusi Maimane called for South Africans to stand together and defend the Constitutional Democracy of the country after President Jacob Zuma axed Finance Minister Pravin Gordhan and his deputy Mcebesi Jonas. “The President has once again shown that he has no interest in... 

'PGxit' will lead to multiple downgrades, says Nomura

31st March 2017 The sacking of Finance Minister Pravin Gordhan and his deputy Mcebisi Jonas would negatively affect the markets and put South Africa at risk for downgrades by rating agencies, emerging markets economist at Japanese investment bank Nomura, Peter Attard Montalto, said on Friday morning. “This is an... 

Midnight Cabinet reshuffle prompts calls for demo

31st March 2017 In the wake of the biggest Cabinet reshuffle since 1996, civil rights organisations and trade unions have vowed to take to the streets on Friday to protest the removal of key ministers, especially Finance Minister Pravin Gordhan. The Treatment Action Campaign (TAC), Section27, SaveSA, and the... 

Zuma says restitution without compensation won’t lead to land grabs

30th March 2017 President Jacob Zuma on Thursday said land restitution without compensation would not end in land grabs, but would restore dignity to poor South Africans. Zuma was responding to a debate in a sitting of the National House of Traditional Leaders in Parliament, and said the return of land to its... 

Eskom board probes allegations of impropriety against acting chief executive

30th March 2017 Eskom's board on Thursday said it had initiated a probe into allegations that acting CE Matshela Koko’s stepdaughter’s shareholding in Impulse International – a company which won nine tenders from the power utility worth a billion rand. In a statement Eskom said its “board resolved, in its... 

EFF goes to ConCourt to have Zuma impeached

30th March 2017 The Economic Freedom Fighters (EFF) would on Thursday approach the Constitutional Court to seek a directive that would order Parliament to impeach President Jacob Zuma. “The court application to the Constitutional Court seeks to order the Speaker of Parliament to institute impeachment or... 

Coca-Cola SA supplier development event a ‘lot more than box ticking’

30th March 2017 Holding a supplier development conference was a condition linked to its parent company’s establishment last year, but executives from Coca Cola Beverages South Africa (CCBSA) were at pains on Thursday to convince attendees that its inaugural event would achieve a lot more than ticking that box.... 

R50m budget approved for revitalisation of Ekandustria Industrial Park

30th March 2017 The Department of Trade and Industry (the DTI) on Thursday said a budget of about R50-million has been approved to address the first phase of the revitalisation programme of the Ekandustria Industrial Park. The Deputy Director-General for Special Economic Zones and Economic Transformation at the... 

‘Little Foot’ hominid is much younger than originally thought

30th March 2017 New research by the University of Johannesburg (UJ) and James Cook University (JCU) in Australia has found that the “Little Foot” hominid is much younger than originally thought. “A human ancestor thought to be 3.7-million years old, should be younger than 2.8-million years, says the newest... 

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