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Ramaphosa expected at SA WEF delegates breakfast

16 January 2019

President Cyril Ramaphosa is expected to address a team of delegates, who will be representing South Africa at the World Economic Forum.

The breakfast meeting will take place in Johannesburg on Wednesday.

The aim is to develop an integrated approach to SA's input at the WEF deliberations and to identify areas of emphasis to present the country as a desired investment destination and trade partner.

Team South Africa comprises of diverse stakeholders in South African society and economy.
 

Brexit implications on trade, investment and tourism

16 January 2019

Amid continued uncertainties related to Brexit, Wesgro, the Western Cape's tourism, trade and investment promotion agency, is keeping a close watch on the implications for companies.

The UK is the province’s second largest export market and largest investor by number of projects, accounting for 25% of all foreign investment projects in recent years, as well as being the Western Cape’s largest tourism market.

Britain is South Africa's second largest trading partner in the EU, after Germany.
 

Little black book details Bosasa's bribe stash, bonuses

16 January 2019

Angelo Agrizzi, the former chief operations officer of controversial company Bosasa, says the company spent between R4m to R6m in bribes per month. 

The revelation was made before the commission of inquiry into state capture in Parktown, Johannesburg on Wednesday.

Agrizzi also told the commission that when people employed by Bosasa, and outsiders, asked for money, Bosasa CEO Gavin Watson, who used to spend time in his office, would leave and later come back with a bag of money.

Eskom to table turnaround strategy before Budget

17 January 2019

Government is pushing Eskom, the power utility with R419bn in debt, to present a credible turnaround strategy before the February 20 Budget presentation, a person familiar with the situation said.

While the state-owned company has asked the national energy regulator for permission to raise power prices by 15%a year for three years, that request would still leave the utility needing R100bn, the person said.

New board found 'horror show' at Transnet

17 January 2019

State-owned freight rail company Transnet has issued summons to former top executives it says are implicated in financial mismanagement with a view of recouping some of the squandered money.

Popo Molefe, chair of the Transnet board, said on Thursday morning at a media briefing that civil claims worth R1.3 bn had been served on individuals and companies. 

“One would not be exaggerating to say what we found there was a horror show,” he said referring to the extent of financial mismanagement uncovered by the new board, which was appointed in May 2018.

2019 Election campaign targets youth

Attracting young South Africans to register to vote in this year’s national and provincial elections is among the Independent Electoral Commission’s top priorities as it seeks to deliver a credible election. 

This much is apparent in the IEC’s election campaign launched in Midrand on Thursday. Colloquially phrased “X’se, your x is your say”, the campaign seeks to attract mostly youth but it has an appeal across all generations, the IEC said. 

World Bank projects paltry GDP growth for SA in 2019

9 January 2019

South Africa’s real GDP growth will expand by a paltry 1.3% in 2019, according to a World Bank projection, putting it among the worst performers in sub-Saharan Africa.

The bank, which published its annual Global Economic Prospects on Tuesday evening, downgraded the country's projected 2019 growth rate from its June 2018 estimate of 1.8%. 

At 1.3%, SA’s projected real economic expansion will come in at under a third of the estimated 4.2% growth rate of its emerging market peers. It is also well below the projected sub-Saharan average of 3.7%.

A changing birth: What’s behind SA’s skyrocketing c-section rates?

9 january 2019

Almost one in four babies born at public hospitals come into the world via c-section but is it costing some women their lives?

For decades, caesarean sections were a last resort for mothers and babies in distress. If you had access to this kind of procedure, you could count yourself among the world’s lucky.

Second member resigns from Ramaphosa's Eskom Task team

10 January 2018

A second member of President Cyril Ramaphosa's task team on Eskom has stepped down, the Presidency spokesperson Khusela Diko confirmed to Fin24.

Diko told Fin24 on Thursday via Whatsapp that Sy Gourrah head of ACTOM Power Systems had asked to leave the task team in December.

"She requested to be recused as the company she works for has dealings with Eskom and felt to avoid a potential conflict of interest, she asked the President to release her from the panel. The President acceded to her request," Diko said.

Sons and daughters of no country

8 January 2018

If amendments to the Births and Deaths Registration Act are approved, the children of migrants and other vulnerable groups might find it even more difficult to access basic services.

Under the proposed amendments, these children will receive a notice of birth, which will have to be taken to their embassy to obtain a birth certificate.

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