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Get the latest Business and Financial news in South Africa as it happens.

SA farmers owe banks R125bn as drought hits

drought farmers south africa

Farmers have their highest-ever debt with South African banks of more than R125bn at a time when a drought, caused by the lowest rainfall on record, is withering maize fields and discouraging the planting of crops. FirstRand has the largest proportion of total loans extended to agriculture among the four …

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SA not heading for recession – Gordhan

SA not heading for recession - Gordhan

Cape Town – Finance Minister Pravin Gordhan said on Thursday that South Africa’s economy would not slip into recession, rejecting predictions by some economists that sharp falls in the rand pointed to a contraction this year. “We are growing as an economy, we are not going into a recession. But …

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Orange buys Cellcom Liberia

Orange buys Cellcom Liberia

CAPE TOWN – Orange, the French telecommunications company, announced on Tuesday that its subsidiary Orange Côte d’Ivoire had bought Cellcom Telecommunications’ Liberian unit. A statement from Orange said that Cellcom’s founders and employees would continue to be involved in the business to ensure a smooth integration and to continue long-standing …

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The right to expropriate property

anc

In clear election mode, President Jacob Zuma has carried out an outflanking manoeuvre against the Economic Freedom Fighters (EFF) by raising the prospect of land seizure. Speaking in Rustenburg, he referred to the “land that was stolen from us” and asked why stolen land should be paid for. The EFF …

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Zim imports goods worth $2bn from SA

Zim imports goods worth $2bn from SA

Zimbabwe imported goods worth more than US$2bn from South Africa as trade between the two countries reached $3.86bn in the 11 months to November 2015, latest figures show.According to trade data released by the Zimbabwe Statistical Office (Zimstats), Zimbabwe imported goods worth $2 115 671 569 during the period. With …

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Eskom: No secrecy around Zim power deal

eskom

Johannesburg – Eskom has confirmed the sale of electricity to Zimbabwe but denied that the power supply agreement with its Zimbabwean counterpart the Zimbabwe Electricity Supply Authority (Zesa) is secret. Eskom said the deal is part of an arrangement among southern African power utilities to sell surplus electricity to each …

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