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Zuma spokesperson dismisses reports Ramaphosa may be sacked

By: Reuters     20th October 2017 President Jacob Zuma's spokesperson said on Friday there was no basis for reports that he would axe his deputy Cyril Ramaphosa, speculation about which has weighed on the currency and bonds. The ruling African National Congress (ANC) party, of which Zuma is leader and Ramaphosa deputy, has been... 

Rand extends losses as speculation Ramaphosa may be fired weighs

By: Reuters     20th October 2017 South Africa's rand weakened on Friday, pressured by a firmer dollar and underperforming emerging market peers as speculation that President Jacob Zuma may axe his deputy Cyril Ramaphosa weighed on sentiment. At 0830 GMT the rand was 1.15% weaker at 13.6725 per dollar, extending losses and... 

KPMG ‘rogue unit’ report grossly unfair to former finance minister Gordhan – Ramaphosa

By: African News Agency      20th October 2017 Deputy President Cyril Ramaphosa on Thursday said a report compiled by auditing firm KPMG for the South African Revenue Service into the existence of a “rogue spy unit” was “grossly unfair” to former finance minister Pravin Gordhan. The KPMG report , which insinuated that Gordhan knew of a... 

If Zuma removes me, I’ll accept it – Ramaphosa

By: African News Agency      19th October 2017 I serve at the pleasure of the President, and If I’m fired, it will be at the pleasure of the President, South Africa’s deputy president said on Thursday. Cyril Ramaphosa was asked by opposition party members in the National Assembly to confirm or deny speculation that he was next in line to be... 

When Cyril wins, he must send Zuma to live in Nkandla – Gordhan 

By: News24Wire      12th October 2017 When Deputy President Cyril Ramaphosa wins December's African National Congress (ANC) elective conference, he must send President Jacob Zuma to live in Nkandla, former finance minister Pravin Gordhan said on Thursday. Gordhan told a conference in Cape Town that his preferred candidate to become... 

Political certainty needed for economic reform in South Africa – Kganyago

By: Reuters     29th September 2017 South Africa must sort out its political problems in order to kickstart structural reform and unlock economic growth, central bank governor Lesetja Kganyago told Reuters on Thursday. Speaking on the sidelines of a conference organised in London by the Bank of England, Kganyago also said financial... 

Radical? Really?

By: Keith Campbell     29th September 2017 Roughly in the middle of this month (September), speaking on the sidelines of the Annual General Meeting of his luxury goods businesses holding company, Switzerland-based Compagnie Financière Richemont, in Geneva, businessman Johann Rupert, generally regarded as South Africa’s richest man, said... 

Gordhan: KPMG SA was a 'willing partner in State capture'

By: News24Wire      26th September 2017 Auditing firm KPMG SA was a “willing participant in State capture” and its leadership hasn't fully grasped the magnitude of what they were involved in, according to former finance minister Pravin Gordhan. He was in conversation with radio host Eusebius McKaiser on CapeTalk on Tuesday morning. 

South Africa will provide world class 2023 Rugby World Cup, Ramaphosa tells bid committee

By: African News Agency      26th September 2017 South Africa was more than ready to deliver a world class sporting experience should the country’s bid to host the 2023 Rugby World Cup be successful, Deputy President Cyril Ramaphosa said on Monday. Ramaphosa was in London where he added some gravitas to the country’s world cup bid by addressing... 

NDZ not Zuma’s candidate in ANC leadership race 

By: Aubrey Matshiqi     22nd September 2017 Let me start by quoting from the book Dictator, by Robert Harris – a book about Rome and the last 15 years of Cicero: “You have the soldiers but no legitimacy, we have the legitimacy but no soldiers. What we do both have, however, is a common enemy.” Another bit from the same book: “Your speeches... 

SEEKING PROGRESS

By: Creamer Media Reporter      22nd September 2017 Labour Minister Mildred Oliphant and Deputy President Cyril Ramaphosa have urged business, labour and government negotiators to move decisively on the finalisation of the national minimum wage legislation so that the instrument can be implemented in 2018. Oliphant and Ramaphosa made this appeal... 

Ramaphosa leads SA delegation to London to bid for 2023 Rugby World Cup

By: Sashnee Moodley     21st September 2017 As part of South Africa’s bid to host the Rugby World Cup 2023 tournament, Deputy President Cyril Ramaphosa and a high-level delegation will make their way to London on Sunday to make a presentation to the World Rugby Council.   The delegation will consist of Sport and Recreation Minister Thulas... 

Eskom at a sustainability ‘tipping point’, business and labour warn

By: Terence Creamer     8th September 2017 Business and labour raised serious questions on Friday about the sustainability of State-owned electricity producer Eskom in light if its current governance failings, which were now undermining its financial health to the point where government could be force to assist the utility in meeting its... 

Boost Competition Act to address concentration, stimulate transformation – Ramaphosa

By: Terence Creamer     1st September 2017 Deputy President Cyril Ramaphosa has called for a broadening of competition policy and legislation to address ongoing structural concentration in the ownership and control in key economic sectors in South Africa, while still continuing to address anticompetitive behaviour by companies. Speaking... 

No credible candidate in the overcrowded race for the presidency of the ANC  

By: Aubrey Matshiqi     23rd August 2017 In recent months and weeks, Lindiwe Sisulu, Mathews Phosa, Baleka Mbete and Jeff Radebe have entered the race for the presidency of the African National Congress (ANC). In other words, the 2017 national conference of the ANC has delivered the highest number of presidential candidates since the... 

Marikana massacre to be commemorated at hillside where massacre occurred

By: News24Wire      16th August 2017 The deaths of 34 miners during the Marikana massacre in 2012 will be commemorated by the Association of Mineworkers and Construction Union (Amcu) on Wednesday at the hillside where the massacre occurred. Police shot and killed the miners on August 16, 2012, in an apparent attempt to disperse... 

Conservative streak prevailed at ANC policy conference  

By: Aubrey Matshiqi     21st July 2017 At the end of the policy conference of the African National Congress (ANC), President Jacob Zuma declared that the ruling party was more united than it had been when the conference began. In the process of delivering his closing address, he proposed that the loser in the race for the presidency... 

Years of gridlock face South Africa as new rules hurt mining 

By: Bloomberg     13th July 2017 Executives from Sibanye Gold Ltd., South Africa’s biggest gold miner, were in Los Angeles in the final stages of a roadshow with U.S. bond fund managers last month when a bombshell hit from back home. The government had introduced shock new rules requiring local mines be 30 percent black-owned in... 

State capture must be probed, 'billions of rands' lost through it recovered – Ramaphosa

By: News24Wire      12th July 2017 Deputy President Cyril Ramaphosa says South Africa needs to recover all the money stolen through State capture. "We now know without any shred of uncertainty that billions of rands of public resources have been diverted into the pockets of a few," said Ramaphosa. 

Business holds small-business funding line, despite serious postreshuffle trust deficit 

By: Mia Breytenbach     30th June 2017 It is now well documented how President Jacob Zuma’s March 31 Cabinet reshuffle, which saw South Africa’s highly regarded Pravin Gordhan removed as Finance Minister, seriously undermined trust between government and its social partners, including business. The controversial move also placed the... 

Business holds small-business funding line, despite serious postreshuffle trust deficit

By: Mia Breytenbach     30th June 2017 It is now well documented how President Jacob Zuma’s March 31 Cabinet reshuffle, which saw South Africa’s highly-regarded Pravin Gordhan removed as Finance Minister, seriously undermined trust between government and its social partners, including business. The controversial move also placed the... 

Verimark celebrates 40th year with expansion 

     29th June 2017 Verimark, starting from humble beginnings 40 years ago, has successfully transitioned from seller and distributor of direct response television products into a diversified retail corporate leveraging an ever-expanding platform. Natasha Odendaal tells us more. 

Banks balk at risk of funding South Africa Mining Charter deals

By: Bloomberg     26th June 2017 South Africa’s plan to force mining companies to give the black majority a bigger stake in the nation’s mineral wealth faces a major obstacle: convincing  banks to back billions of dollars of fresh deals in an industry in decline. Mineral Resources Minister Mosebenzi Zwane said on June 15 that... 

Ramaphosa moves to reclaim ‘radical economic transformation’  

     22nd June 2017 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about society’s scepticism around the term ‘radical economic transformation' and how Deputy President Cyril Ramaphosa is seeking to redefine the term that he says is being misused by others. 

Mining Charter exposing South African economy to GATT angst  

By: Martin Creamer     21st June 2017 The procurement rules of the new Mining Charter may violate South Africa’s obligations under the General Agreement on Tariffs and Trade (GATT), exposing the country to challenges by other member states of the World Trade Organisation (WTO), Herbert Smith Freehills lawyers Peter Leon and Patrick... 

Ramaphosa moves to reclaim ‘radical economic transformation’ from those 'misusing' term  

By: Terence Creamer     21st June 2017 Deputy President Cyril Ramaphosa has moved, just days before the convening of the African National Congress’s (ANC’s) policy conference, to reclaim the phrase ‘radical economic transformation’ from those who he said were misusing and misrepresenting it as part of a paid-for “publicity offensive”.... 

Business body urges ANC NEC to pressurise Zuma to set up State capture inquiry 

By: Terence Creamer     23rd May 2017 Business Leadership South Africa (BLSA) has added its voice to growing calls for the establishment of an independent judicial commission of inquiry into “State capture”, which it says is necessary to restore confidence in the economy and the future of the country. The big business body has also... 

Economic transformation must have real content and meaning – Ramaphosa

By: News24Wire      22nd May 2017 It is necessary to give real content and meaning to the imperative of radical economic transformation to achieve inclusive growth, Deputy President Cyril Ramaphosa said on Sunday. Delivering the Moses Kotane memorial lecture in Rustenburg, he said it was the transformation that should be radical,... 

Brown to talk to Zuma, Ramaphosa to 'resolve Molefe matter' 

By: News24Wire      17th May 2017 Public Enterprises Minister Lynne Brown says she will talk to President Jacob Zuma and Deputy President Cyril Ramaphosa to resolve the controversial return of Eskom boss Brian Molefe. Brown was summoned to Luthuli House on Monday and ordered to rescind Molefe's return to the power utility. She... 

Tough times ahead for township entrepreneurs

By: Sydney Majoko     5th May 2017 Only the most ignorant entrepreneur would go into the future without trepidation. All businesses in South Africa's current economic and political climate are bound to be hugely affected by the recent economic status downgrades by international ratings agencies S&P Global Ratings and Finch.... 

Leadership and inclusive growth to take centre stage at WEF on Africa

By: African News Agency      28th April 2017 Africa’s drive to generate inclusive economic growth and the leadership this requires will be the focus of the twenty-seventh World Economic Forum on Africa, taking place in Durban, South Africa, from May 3 to 5. The 27th World Economic Forum on Africa will convene over 1,000 leaders from more... 

Zuma to lead Team SA at WEF Africa in Durban 

By: African News Agency      28th April 2017 President Jacob Zuma will lead the South African delegation to the World Economic Forum in Africa, taking place in Durban next week, the Presidency confirmed on Friday. WEF Africa will be held at the Inkosi Albert Luthuli International Convention Centre from 3-5 May, under the theme “Achieving... 

Gigaba has shown South Africa will stick to fiscal discipline and consolidation – Cabinet 

By: African News Agency      28th April 2017 South African Finance Minister Malusi Gigaba’s interaction with investors and the global finance community has shown that government would stick to the course of fiscal discipline and consolidation charted by his predecessor, Cabinet said on Friday. “These engagements underscored that... 

Gordhan praises Ramaphosa, backs State capture inquiry

By: News24Wire      28th April 2017 Former Finance Minister Pravin Gordhan on Thursday told CNN that a judicial commission of inquiry into allegations of state capture would “clear the air”. Deputy President Cyril Ramaphosa recently called for the same thing, supporting a recommendation by former public protector Thuli Madonsela... 

Land Bank sets aside R1bn to support black farming investments in 2017  

By: Terence Creamer     20th April 2017 South Africa’s Land Bank has set a target of disbursing “at least” R1-billion in 2017/18 to support investments by black entrepreneurs in the agricultural sector and to begin transforming a loan book that is still overwhelmingly composed of funding to established commercial farmers. Should the... 

'We will not allow institutions of our State to be captured' – Ramaphosa 

By: News24Wire      20th April 2017 Do not allow revolutionary sounding slogans to hoodwink the public, Deputy President Cyril Ramaphosa said. Speaking at a Black Business Council event in Sandton, Johannesburg on Wednesday evening, Ramaphosa said some were attempting to appropriate the democratic movement, along with its history,... 

Transformation of SA economy non-negotiable – Ramaphosa

By: News24Wire      20th April 2017 The transformation of South Africa's economy is inevitable, Deputy President Cyril Ramaphosa said on Wednesday evening. He was speaking at the Black Business Council dinner under the theme Economic Recovery. 

Gigaba to attend IMF, World Bank meetings  

By: Sane Dhlamini     18th April 2017 Finance Minister Malusi Gigaba’s upcoming trip to the US for the International Monetary Fund (IMF) and World Bank Spring Meetings and further interactions with rating agencies received a thumbs up from Deputy President Cyril Ramaphosa today.  “Well, the Minister is going to the Spring IMF... 

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