Labour unions demand 15% wage increase for Eskom workers

Labour unions demand 15% wage increase for Eskom workers

Eskom’s Two Biggest Labour Unions Demand 15% Wage IncreasesBy Mike Cohen(Bloomberg) – The two biggest unions representing workers at Eskom Holdings SOC Ltd. are seeking 15% wage increases, adding to the woes confronting the loss-making South African power utility.The National Union of Metalworkers o

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SA business groups to assist with 160,000 Covid-19 vaccines a day

SA business groups to assist with 160,000 Covid-19 vaccines a day

South Africa Business Groups to Help Vaccinate 160,000 a DayBy Prinesha Naidoo(Bloomberg) – South Africa’s biggest business grouping will help develop private industry’s capacity to administer 160,000 coronavirus vaccinations a day, according to Business for South Africa.Vaccines will be administere

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Shoprite to sell Nigerian division to Persianas Group

Shoprite to sell Nigerian division to Persianas Group

Shoprite, the owner of SA supermarket chains such as Checkers and U-Save, said last year it planned to exit Nigeria after 15 years operating in the country.By Anthony Osae-Brown(Bloomberg) – Shoprite plans to sell its Nigerian division to a local property group, according to a person familiar with t

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Reserve Bank sees stimulus impacts peaking in 2021

Reserve Bank sees stimulus impacts peaking in 2021

The Reserve Bank sees the impact of its unprecedented monetary policy stimulus peaking this year and boosting expansion for years to come.By Prinesha Naidoo(Bloomberg) – South Africa’s central bank sees the impact of its unprecedented monetary policy stimulus peaking this year and boosting expansion

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SA halts rollout of J&J vaccine after US suspension

SA halts rollout of J&J vaccine after US suspension

South Africa has halted the rollout of the Johnson & Johnson vaccine after health agencies in the US recommended its suspension.Health Minister Zweli Mkhize told reporters on Tuesday that South Africa will suspend its rollout “until the Johnson & Johnson vaccine is sufficiently interrogated”.By S’th

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Zuma’s bid to get state to pay his legal fees rejected

Zuma’s bid to get state to pay his legal fees rejected

Jacob Zuma's appeal to get the State to pay legal fees related to his graft case has been rejected by the Supreme Court of Appeal.By S’thembile Cele(Bloomberg) – South Africa’s second-highest court rejected an appeal by Jacob Zuma aimed at getting the state to pay his costs in a graft case, the late

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Capitec beats Covid-19 woes as growth story continues

Capitec beats Covid-19 woes as growth story continues

Capitec declared an increase in headline earnings of 18% to R3.9bn during the last six months of its annual period up to end February 2021.Media statement: Performance during the latter six months of its annual reporting period to February 2021 highlights the banks agility as it recovers from the se

  Justin Rowe-Roberts
US health officials recommend J&J vaccine pause over blood clot concerns

US health officials recommend J&J vaccine pause over blood clot concerns

By John Lauerman(Bloomberg) – US health officials recommended a pause in the use of Johnson & Johnson’s Covid-19 vaccine on concerns about rare and severe blood clotting side effects.A type of brain blood clot called cerebral venous sinus thrombosis was seen in combination with low levels of blood p

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MTN values mobile-money arm at about R75bn, says CEO

MTN values mobile-money arm at about R75bn, says CEO

By Loni Prinsloo(Bloomberg) – MTN is valuing its mobile-money arm at about $5bn, joining African wireless carriers planning to list these businesses in a region that has more mobile-money accounts than anywhere else in the world.MTN’s valuation of its unit follows Mastercard and TPG Holdings LP inve

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Tesla criticises Germany’s drawn-out approval process for Berlin factory

Tesla criticises Germany’s drawn-out approval process for Berlin factory

By Stefan Nicola and Elisabeth Behrmann(Bloomberg) – Tesla Inc. slammed Germany’s lengthy approval process for the car factory its building near Berlin, saying the country should cut red tape to speed up projects that help fight climate change.It’s “particularly irritating” that there’s still no cle

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New Development Bank approves second $1bn BRICS loan to SA

New Development Bank approves second $1bn BRICS loan to SA

By Prinesha Naidoo(Bloomberg) – The New Development Bank approved a $1bn emergency loan for South Africa to support government efforts to contain the economic impact of the coronavirus pandemic.The funds will help finance the creation of employment opportunities, particularly under the Presidential

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$463m Rio Tinto project on hold in SA over security concerns

$463m Rio Tinto project on hold in SA over security concerns

In 2019, Richards Bay Minerals - the SA arm of Rio Tinto halted work at the project after protests led to an employee being shot and injured, says Bloomberg.By Felix Njini(Bloomberg) – Rio Tinto Group’s new $463m mining project in South Africa will remain on hold until the security problems that hal

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Natural gas needed as ‘transition fuel’, says Old Mutual fund

Natural gas needed as ‘transition fuel’, says Old Mutual fund

By Antony Sguazzin(Bloomberg) – A key funder of South Africa’s renewable energy drive is backing natural gas as the fuel needed to help the country bridge the transition from coal power generation to the use of wind and solar.Old Mutual Ltd.’s African Infrastructure Investment Managers will consider

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Govt repatriating SA citizens following insurgent attacks in Mozambique

Govt repatriating SA citizens following insurgent attacks in Mozambique

By Roxanne Henderson(Bloomberg) – South Africans seeking to leave Mozambique after insurgent attacks in the northern region of the country will be aided by the government after the violence claimed the life of one of its citizens. The nation’s defence force will assist with repatriating nationals th

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SA winds up sale of AstraZeneca vaccine to AU

SA winds up sale of AstraZeneca vaccine to AU

Bloomberg says the AstraZeneca vaccines were sold to 18 member states of the African Union, according to Health Minister Zweli Mkhize.By Prinesha Naidoo(Bloomberg) – South Africa concluded the sale of 1 million Covid-19 vaccine doses that were developed by AstraZeneca Plc and the University of Oxfor

  Jarryd Neves