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Business South Africa

  • JOHANNESBURG, June 30- South African Finance Minister Malusi Gigaba on Friday accused the country's anti-corruption agency of overstepping the mark in suggesting changes to the way the central bank works, insisting that monetary policy should remain independent. A call by South Africa's public protector for an overhaul of Reserve Bank's mandate-- to focus...

  • *Reserve Bank should continue to implement its inflation mandate, say economists. JOHANNESBURG, June 30- Economists polled by Reuters say South Africa's Reserve Bank should continue targeting inflation to protect living standards and not shift to prioritise growth as has been suggested in a burgeoning row over bank independence. Busisiwe Mkhwebane, South...

  • BENGALURU/ LONDON, June 29- Global stock market indexes are set for more gains by the end of this year, with notable optimism in the latest Reuters poll driven by an economic revival in Europe as well as bright prospects for much of Asia. Still, the latest consensus is an upgrade to forecasts made just three months ago, and also compared with December last year, just...

  • Lesetja Kganyago, governor of South Africa's central bank, speaks during a news conference following a Monetary Policy Committee meeting in Pretoria, South Africa, on Thursday, May 25, 2017.

    The governor of South Africa’s central bank has said that the challenges facing his country’s ailing economy are now “fundamentally domestic” and will not be impacted by the tightening of monetary policy by the U.S. Federal Reserve or other advanced countries.

  • SARB Governor: Have come to the end of our rate hike cycle

    South African Reserve Bank Governor Lesetja Kganyago talks about the state of the global economy, and how other central bank moves impact South Africa.

  • SARB Governor: Need a united front to tackle challenges

    South African Reserve Bank Governor Lesetja Kganyago weighs in on why there’s a technical recession in South Africa right now.

  • Ghana-based media startup OMG Digital previously participated in a Y Combinator accelator program, Tech Crunch reports.

  • A customer uses the Alipay payments app on a smartphone.

    Chinese tourists in South Africa will soon be able to spend more easily thanks to the world's biggest payments platform.

  • Alipay to launch in South Africa

    Head of Alipay EMEA Rita Liu announces that her firm will launch in South Africa, with the intention of benefiting Chinese tourists in the country.

  • JOHANNESBURG, June 26- South African precious metals producer Sibanye Gold aims to resume production at its strike-hit Cooke Mine later this week, but first plans to conduct safety inspections in the shafts on Monday. Illegal gold mining has plagued South Africa for decades, with bullion pilfered from both disused and operating mines, and Sibanye has vowed it...

  • JOHANNESBURG, June 21- One of South Africa's largest financial groups weighed in to the row over central bank independence on Wednesday, saying proposals to change how it is run were a "very serious risk" to the country. The banking group's intervention comes as it itself is subject of a critical report by Mkhwebane's agency, South Africa's official constitution...

  • JOHANNESBURG, June 20- A major row in South Africa over the independence of its central bank escalated on Tuesday, with both sides trading barbs in a dispute over whether the bank should be more concerned about citizens and less about currency. The issue-- triggered by a public watchdog's recommendation-- comes just as South Africa's economy has sunk into...

  • JOHANNESBURG, June 20- A major row in South Africa over the independence of its central bank escalated on Tuesday, with both sides trading barbs in a dispute over whether the bank should be more concerned about citizens and less about currency. The issue-- triggered by a public watchdog's recommendation-- comes just as South Africa's economy has sunk into...

  • JOHANNESBURG, June 20- A major row in South Africa over the independence of its central bank escalated on Tuesday, with both sides trading barbs in a dispute over whether the bank should be more concerned about citizens and less about currency. The issue-- triggered by a public watchdog's recommendation-- comes just as South Africa's economy has sunk into...

  • The issue-- triggered by a public watchdog's recommendation-- comes just as South Africa's economy has sunk into recession, its credit rating downgraded and politics is gripped by questions over President Jacob Zuma's stewardship. Public Protector Busisiwe Mkhwebane, head of South Africa's constitutionally-mandated anti-graft watchdog, called on Monday...

  • PRETORIA/ JOHANNESBURG, June 19- South Africa's rand fell more than 1.5 percent on Monday after the Public Protector, an anti-graft agency, recommended constitutional changes to make the central bank promote economic growth rather than currency and price stability. Mkhwebane made the proposal in a statement to a Pretoria news conference where she delivered...

  • JOHANNESBURG, June 19- As South Africa slides into recession, and households have less and less to spend, the number one supermarket group Shoprite is adopting an unlikely strategy: it's pushing upmarket. The stage is set for a turf war to win the hearts, minds and wallets of South Africa's richest 2 million households- and ultimately preeminence in the...

  • *FTSE 100 down 0.7 pct, FTSE 250 falls 2.1 pct. LONDON, June 15- British mid-caps suffered their worst one-day drop in nearly a year on Thursday as a sharp slowdown in the country's retail sales last month offered the latest sign of darkening clouds over companies exposed to the domestic economy. The slide in UK stocks worsened after the Bank of England said that its...

  • *Gigaba says "hard decisions to be made" on economy. PRETORIA, June 15- South Africa's Finance Minister Malusi Gigaba said on Thursday the Treasury was looking for ways to cut government spending further and reallocate funds to help boost growth while maintaining its fiscal target. Gigaba, who was appointed as finance minister in March after President Jacob Zuma...

  • South Africa's Chamber of Mines has decided to take the government to court over its decision to raise the threshold for black ownership.