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South Africa to invest $15.4 billion to boost industrial sector

South Africa to invest $15.4 billion to boost industrial sector

CAPE TOWN – South Africa’s state-owned Industrial Development Corporation will invest 102 billion rand ($15.4 billion) over the next five years to boost the industrial sector, Economic Development Minister Ebrahim Patel said on Tuesday. Patel said during a budget vote speech in parliament that he expected the IDC would also consider setting up a distressed sector […]

Kumba iron to fight South Africa’s rejection of mining right

Kumba iron to fight South Africa’s rejection of mining right

Kumba Iron Ore on Thursday said it will fight South Africa’s decision to reject its bid for a disputed mining right, calling the decision “legally incorrect and fundamentally flawed”.

The dispute concerns Kumba’s bid for a mining right over a 21.4 percent stake in its Sishen mine.

South African bonds at 7 months low, stocks bounce back

South African bonds at 7 months low, stocks bounce back

South African government bonds fell sharply on Friday, driving yields to their highest level in 7 months after central bank comments on rising inflation pressures dented prospects of interest rates cuts.

South Africa union wins more time for Wal-Mart evidence

South Africa union wins more time for Wal-Mart evidence

South Africa’s competition watchdog has given unions an additional 15 days to present more evidence against Wal-Mart’s $2.3 billion bid for Massmart.

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