south african economy

The Good News About South Africa’s Economy

By SAPeople Contributor 09-12-19 15:10

The economic outlook for 2020 is gloomy for us in South Africa… writes Andrew Robinson. Our GDP is shrinking, our economy is stagnant and we’re teetering on a rating downgrade. Our state-owned enterprises are failing, we have an above-average public sector wage bill and substantial budget deficit. And while the official stats don’t show an […]

loadshedding week ahead eskom

Load Shedding Likely to Persist All Week for South Africans

By SAPeople Contributor 09-12-19 15:07

Incessant rains which hit the country last week are impacting coal handling and operations, could lead to load shedding for the rest of the week, Eskom said on Monday. “We are beginning to experience flooding at some power stations, which is impacting coal handling and operations which could further lead to capacity load losses and […]

Stevens Mokgalapa removed as Tswane mayor

DA: Tshwane Mayor Reinstated by High Court After ‘Banana Republic’ Removal

By SAPeople 06-12-19 20:31

The DA’s Mayor Stevens Mokgalapa and Speaker Katlego Mathebe are back in their offices in Tshwane today, after being removed at a Special Council yesterday in a vote of no confidence. This morning the North Gauteng High Court suspended the resolutions taken by the African National Congress (ANC) and Economic Freedom Fighters (EFF) at the […]

Mongameli Bobani ousted as mayor nelson mandela bay

Nelson Mandela Bay Mayor Bobani Ousted by No-Confidence Vote

By SAPeople 05-12-19 19:14

Mongameli Bobani was today ousted as Nelson Mandela Bay’s mayor after the majority of parties voted in favour of a motion of no-confidence, which had been brought by DA Councillor Morne Steyn. Many Port Elizabeth residents have welcomed the news, saying he left a “trail of destruction”. Nelson Mandela Bay Caucus Chairperson Athol Trollip (who […]

geoff makhubo joburg mayor

Geoff Makhubo Elected Mayor, Putting Joburg Back in ANC’s Hands

By SAPeople 04-12-19 19:55

Geoff Makhubo has been elected new mayor of Johannesburg, putting the city back in the hands of the ANC, after the DA’s Herman Mashaba resigned in October. Mashaba resigned following the appointment of Helen Zille in a top DA position (which also led to the resignation of DA leader Mmusi Maimane). Of the 268 votes […]

Hage Geingob has won the 2019 Namibian presidential election

Hage Geingob has Won the 2019 Namibian Presidential Election

By Reuters 01-12-19 01:28

Namibia’s incumbent President Hage Geingob has won the 2019 presidential election – following Wednesday’s vote – with 56.3% of the vote, the Electoral Commission of Namibia (ECN) said on Saturday Nov. 30, 2019. Geingob, Namibia’s third leader since the sparsely populated and mostly arid country freed itself from South Africa in 1990, was seeking a […]

South Africa’s Karoo Drills and Prays as Taps Run Dry

By Reuters 30-11-19 02:09

South Africa’s Karoo region has always been parched – it means land of thirst in the language of its earliest inhabitants, the Khoisan hunter gatherers. Yet nothing prepared residents of its oldest town, Graaff-Reinet, for their worst drought in more than a century. As the dry spell entered its fourth year, tap water turned brown […]

Former South African President Jacob Zuma

South Africa Court Rejects Zuma Appeal to Prevent Corruption Trial

By Reuters 29-11-19 13:51

JOHNANNESBURG – A South African court on Friday rejected an appeal by former president Jacob Zuma that sought to prevent his prosecution on corruption charges over a $2 billion arms deal. The ruling paves the way for Zuma’s long-awaited trial to start in February 2020. Zuma, in office from 2009-2018, had previously applied for a […]

Gerrie Nel Prosecutes Tom Moyane for Assault

By SAPeople Contributor 26-11-19 18:54

Tom Moyane, former commissioner of South African Revenue Service (SARS), appeared for the first time in the Roodepoort Magistrate’s Court today in the private prosecution case against him. Advocate Gerrie Nel, Head of AfriForum’s Private Prosecution Unit, is prosecuting Moyane in this case. The date for Moyane’s first appearance has been set for 11 December […]

Eskom Will Continue to be Owned by Government

By SAPeople Contributor 26-11-19 18:51

President Cyril Ramaphosa has reiterated that the South African government’s attempts to reconfigure and split Eskom into three divisions is not aimed at privatising the embattled power utility. These measures, he said, are rather aimed at stabilising the utility and getting it back on its feet. “We are not going to privatise Eskom,” he said, […]

South Africa’s Rand Rises on S&P Ratings Reprieve

By Reuters 25-11-19 10:31

South Africa’s rand firmed in early trade on Monday, as traders continued to chase the high yield offered by local assets after S&P Global Ratings decided to downgrade the country’s credit outlook instead of lowering its sovereign rating. The rand was 0.41% firmer at 14.6750 per dollar by 0620 GMT, compared with an opening level […]

DA ANC cadre deployment

South Africa’s DA Party Picks John Steenhuisen as Interim Leader

By Reuters 18-11-19 00:51

JOHANNESBURG – South Africa’s Democratic Alliance (DA) on Sunday appointed John Steenhuisen as interim leader a month after the country’s main opposition party was thrown into chaos by the sudden resignation of Mmusi Maimane. Maimane, who was appointed as leader to broaden the traditionally white liberal party’s appeal to black voters, quit in October in […]

Nelson Mandela memorial statue cuba havana

Cuba Unveils New Mandela Memorial Paying Tribute to Ties with South Africa

By SAPeople 15-11-19 22:58

Cuba has unveiled a statue of South Africa’s late President Nelson Mandela in Havana, to commemorate the historic ties between the two countries. Fernando Gonzalez, President of the NGO Cuban Institution of Friendship with Peoples, said: “For us it is a very special moment… we had been waiting a long time for the bust here. […]

Photo by Johann Visage. Saldanha Steel, sunrise

ArcelorMittal South Africa to Close Saldanha Steel Operation

By Reuters 11-11-19 19:08

ArcelorMittal’s South Africa unit said on Monday it would close its steel operations at Saldanha Works in the south of the country because it could no longer compete in export markets. The company, majority-owned by ArcelorMittal, announced in September that it could close some operations as part of a review aimed at strengthening long-term sustainability amid cheap imports, rising costs […]

South Africa’s Absa to Open New York Office by End of the Year

By Reuters 11-11-19 17:50

South African lender Absa said on Monday its representative office in New York should be operational by the end of the year, after it received the necessary regulatory approvals. The office is aimed at enabling Absa to better serve clients, including international corporations and institutions, that invest or work in Africa. The bank has already opened a representative office […]

Rand Weakens with Overnight Loadshedding, and Risk of More Power Cuts on Friday

By Reuters 02-01-21 16:17

South Africa’s rand was weaker early on Friday after Eskom’s nationwide loadshedding (electricity blackouts) spooked investors and reignited worries about the economy. At 0645 GMT the rand was down 0.23% at 14.7700 per dollar, compared with the previous session’s best of 14.6630. Power firm Eskom implemented stage 2 power cuts, or load shedding, shaving off […]

SA Expat: Something Compelled Me To Watch ‘Our Boys’

By SAPeople Contributor 09-11-19 00:41

A few days ago, I got off a plane after a very tough whirlwind visit back to South Africa. I hit the ground running back “home” in New York with kids, work commitments, parent teacher meetings and frantic Halloween preparations writes Margaux Nissen Gray. I was out until late on Friday night and yet something […]

South African Rand and Bonds Bounce on Moody’s Reprieve

By Reuters 04-11-19 19:27

The South African rand and government bonds jumped on Monday after ratings agency Moody’s kept the country’s last investment-grade credit rating intact, but many investors expected the rally could fade soon. Moody’s decision on Friday to leave South Africa’s sovereign debt at Baa3, the lowest rung of investment grade, was a relief to beleaguered President […]

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