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  • Livestock in Free State, South Africa are struggling to find water due to the drought.

    Prospects for Africa’s second-largest economy look gloomy, as the central bank hikes interest rates at a time of slumping growth, drought and a political power battle.

  • JOHANNESBURG, March 18- The ex-boss of South Africa's state power firm on Friday became the latest figure to accuse a business family with ties to President Jacob Zuma of wielding undue influence, as the leadership of the ruling ANC met to discuss its most serious crisis in nearly a decade. Zola Tsotsi, who resigned a year ago as chairman of Eskom, told the Mail&...

  • JOHANNESBURG, March 18- More senior South African public figures came out on Friday to accuse a business family with close ties to President Jacob Zuma of exerting undue influence, as top ANC officials met to discuss the most serious political crisis in nearly a decade. The scandal comes at a time when the ruling African National Congress is at a crucial stage...

  • *Maimane sent out of parliament while questioning Zuma. *Jonas says he rejected offer from Gupta family. CAPE TOWN, March 17- South African President Jacob Zuma fought back on Thursday against suggestions that a prominent business family might have been behind his abrupt sacking of a finance minister, a move which shook confidence in the country's economic...

  • *Jonas says he rejected offer from Gupta family. CAPE TOWN, March 17- South African President Jacob Zuma denied being influenced by anyone in the appointment of cabinet ministers, responding to allegations by his own deputy finance minister that a wealthy family close to Zuma offered him the job of finance minister. Zuma denied any involvement in response to...

  • CAPE TOWN- WORLD TRADE ORGANISATION HEAD SAYS IRAN'S ACCESSION TO BODY IS IN EARLY STAGE, BUT HE SENSES MEMBERS ARE WILLING TO ENGAGE IN PROCESS.

  • CAPE TOWN- WTO DIRECTOR GENERAL AZEVEDO HOPES THE PROCESS WILL MOVE AS QUICKLY, MUCH WILL DEPEND ON IRAN'S ABILITY TO MAKE PROPOSALS.

  • JOHANNESBURG, March 16- ArcelorMittal South Africa will increase the prices of its steel products from April as it tries to stabilize the business amid rising input costs and after heavy losses due to competition from cheap imports, it said on Wednesday. South Africa last year slapped a 10 percent tariff on imported steel and ArcelorMittal, which had been hurt...

  • JOHANNESBURG, March 15- A white South African banker has resigned over a tweet about race relations that prompted widespread outrage, his employer Standard Bank said. Chris Hart suggested on Twitter in January that more than two decades of black majority rule had perpetuated poverty and entrenched a tendency to blame whites for all of the country's ills.

  • *To close London head office. LONDON, March 11- Anglo-South African financial services group Old Mutual will split into its four main businesses, and may list its emerging market and wealth management arms, it said on Friday. Regulatory changes in Europe and South Africa have made the company, which started out in 1845 as a life insurance firm in Cape Town, more...

  • ABUJA, March 11- South African telecoms firm MTN Group has offered $1.5 billion to settle a much larger fine from Nigerian regulators for missing a deadline to disconnect unregistered SIM card users, a document seen by Reuters shows. Africa's biggest mobile phone group has been in talks with Nigerian authorities to have the $3.9 billion penalty reduced and...

  • LONDON, March 11- Anglo-South African financial services group Old Mutual Plc said on Friday it would split up into its four main businesses, strengthening expectations of the sale or listing of its UK asset management arm. The break-up of the company, which is listed in London and Johannesburg and has insurance, asset management and banking operations, follows...

  • BEATLES RECORD PRODUCER GEORGE MARTIN DIES AGED 90- RINGO STARR TWEET.

  • CAPE TOWN, March 8- South Africa will give the green light in the next 12 months to companies looking to explore for shale gas under the semi-arid Karoo basin, the government said on Tuesday, more than six years after firms such as Shell applied for licences. Royal Dutch Shell, Falcon Oil& Gas and Bundu Gas& Oil are among five companies which have applied for...

  • JOHANNESBURG, March 8- South Africa's rand eased on Tuesday after data showed a widening current account deficit, while stocks were spooked by brittle Chinese trade figures that sent Kumba Iron Ore shares into a tailspin. And the China data is a bit of a reality check that says the China problem is not over, "said Bart Stemmet, an analyst at NKC African Economics.

  • ABUJA, March 8- South African company MTN is in talks with the telecoms industry regulator in Nigeria to reduce a $3.9 billion fine imposed for failing to disconnect unregistered SIM cards from its local network, Nigerian President Muhammadu Buhari said on Tuesday. Africa's largest mobile networks operator, which makes 37 percent of its sales in Nigeria, its...

  • *South Africa gold shares have soared this year. JOHANNESBURG, March 7- A sinking rand has sparked a buying spree and rerating of South African gold mining shares which have doubled in value in 2016, but the volatile currency is a double-edged sword that could cut the gains back down to size. Harmony Gold, which gets 90 percent of its production from South Africa,...

  • *Old Mutual to update on strategic review on March 11. Sky News reported on Saturday the 9 billion pound company was working on a plan to split itself up and that this could trigger a takeover battle for its operations which include banking, insurance and asset management. Private equity firms Cinven and Warburg Pincus have tabled a multi-billion pound joint...

  • LONDON, March 7- Emerging market stocks touched 10- week highs on Monday, enjoying a lift from China's pledges to sustain growth as well as last week's U.S. data and a fresh jump in oil prices. Russian dollar-denominated stocks firmed 1.2 percent to a three-month high, while bourses in Hungary, Romania and Turkey added around half a percent. Support also came from...

  • BOGOTA, March 3- Union workers at Colombia's largest coal mine, Cerrejon, have voted in favor of a strike, the union said on Thursday, in a dispute with the company over wages and benefits. Cerrejon is a joint venture between Australia- based BHP Billiton Ltd, London- and Johannesburg- based Anglo American Plc and Swiss-based Glencore Xstrata. It has been producing...