A narrowing current account deficit, improving economy and stable inflation should help South Africa avoid credit rating cuts in November, central bank governor Lesetja Kganyago said in an interview, playing down concerns over the most recent cabinet reshuffle. Growth in Africa's most industrialised economy has slowed to a near standstill in recent years, hit by corruption and a lack of progress on sorely needed reforms. view more

South Africa's government has named Johannes Bhekumuzi Magwaza as chairperson of loss-making State-owned airline South African Airways (SAA), replacing Dudu Myeni, who was an ally of President Jacob Zuma, the finance minister said on Thursday. In all six board members were replaced, Finance Minister Malusi Gigaba said in a statement without giving reasons for the clear-out, but adding that the new board brings "in-depth knowledge of business in both the private and public sectors". view more

Business Unity South Africa (Busa) on Thursday welcomed the appointment of a new board of directors for South African Airways (SAA) as a step in the right direction to ensuring financial stability and good governance at the State-owned airline.    "The appointment of JB Magawaza, an accomplished businessperson, as chairperson, together with [the appointment of] a number of experienced business persons, will bring much needed capabilities to the board," said Busa.   It stated that the eradication of wasteful and fruitless expenditure and curtailing losses at State-owned enterprises (SOEs) required urgent support and implementation. "The recent bailouts of SAA by the National Treasury - in the absence of implementable, time-bound measures to address both governance and oversight shortcomings and structural options which can secure the long-term viability of the airline - have been an ongoing concern to business.   view more

South Africa's finance minister is expected to address concerns over dwindling tax revenues in his mid-term budget on Wednesday to reassure credit agencies of his commitment to a tighter purse, a Reuters poll found. Malusi Gigaba is due to give his first review on finances on Oct. 25 and economists expect him to announce a revenue shortfall of R40-billion ($3-billion) for the year that began in March due to poor tax receipts. view more

South Africa's High Court has quashed regulations governing proposed shale gas fracking, farmers lobby AgriSA said on Thursday after taking the government to court to stop fracking in the Eastern Cape province. The ruling marks the latest setback to South Africa's shale gas ambitions after a scientific study published last month suggested its Karoo Basin probably has a fraction of estimated deposits, deflating expectations of an energy bonanza. view more

A firm decision needs to be made on how to mitigate against the impact of climate change on the agricultural sector, which is facing increased environmental impacts, University of South Africa (Unisa) Exxaro Chair in Business and Climate research assistant Bongani Chavalala said on Wednesday. Addressing delegates during an interactive debate on the road ahead in climate policy, hosted by Unisa and the German Embassy in Pretoria, he said he hoped this would be prioritised at the Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change's (UNFCCC's) twenty-third meeting in Bonn, Germany, in November. view more

The life of former African National Congress (ANC) president Oliver Reginald Tambo was commemorated on Thursday with the unveiling of a new statue of the former anti-apartheid struggle stalwart at international arrivals at the OR Tambo International Airport in Johannesburg. President Jacob Zuma was joined by members of the Tambo family and government officials for the unveiling of the 2.5 m bronze statue, a bust of the South African icon and the official renaming of the Air Traffic and Navigation Services auditorium and tower. view more

The Organisation Undoing Tax Abuse (Outa) has alleged that Eskom consultants Trillian Capital Partners have been "dabbling" in derivatives and losing billions of rands in the process. "Trillian has been dabbling in derivatives with our public money, racking up losses of R27-billion," Outa spokesperson Ted Blom told Parliament's Portfolio Committee on Public Enterprises on Wednesday. view more

The FBI has opened an investigation into US links to South Africa's Guptas, escalating a scandal over the family's alleged use of a friendship with President Jacob Zuma to control state businesses, the Financial Times said on Thursday. Separately, Britain's banking regulator, the Financial Conduct Authority (FCA), said it was in contact with two UK banks over any possible links to the Gupta family. view more

The first pure technology company to list on the JSE's AltX in 18 years, technology decision support group 4Sight, has artificial intelligence, machine learning, Internet of Things and big data technology capabilities, which are reshaping business and individual lives worldwide, 4Sight CEO Antonie van Rensburg said on Thursday at the listing ceremony at the JSE. The group, which is incorporated in Mauritius and employs about 300 people, was formed after 4Sight acquired digital services company Digitata Mauritius in June. view more

BONSELA'S BEACH COTTAGE Enjoy a holiday on the beach. Family owned house with 4 ... view more

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