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

SABMiller’s Chinese partner mulls options


Hong Kong – China Resources Beer has chosen banks to advise on options for its Chinese brewery joint venture with SABMiller [JSE:SAB], people with knowledge of the matter said. China Resources Beer picked advisers including HSBC, Nomura, Rothschild and UBS Group, said the people, who asked not to be identified …

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South Africa is in for a difficult 2016


South Africa indeed faces a difficult 2016, Rian le Roux, Old Mutual Investment Group Chief Economist, warned this week. In addition to weak commodity prices, tighter monetary and fiscal policy and the impact of the drought, the recent rand rout following the financial ministers’ drama, will likely trigger a stronger …

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SAA, the Airbus payment deadline is here

SAA Airbus A340

The SAA Airbus deal is down to the wire, with R603m due on Monday unless Treasury and SAA can reach an agreement on the controversial contract. The Airbus deal is the first major test for Finance Minister Pravin Gordhan since he was parachuted back into Treasury last week. But with …

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This is how South Africa turned on Zuma


Everyone from business leaders to high-ups in the ANC moved against president Jacob Zuma to reverse the damage done by his axing of former finance minister, Nhlanhla Nene. This is according to a report by the Sunday Times, saying that the president had lost control of the party after his …

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NUM, Implats reach deal over 2012 strikers


Mineral Resources Minister Mosebenzi Zwane has welcomed the agreement reached late on Thursday between employer Impala Platinum (Implats) [JSE:IMP] and the National Union of Mineworkers (NUM), following a two-year impasse between the two parties. According to the memorandum of understanding, workers who had been asked to leave Implats during strikes …

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Zuma looks on the bright side

jacob zuma

President Jacob Zuma has chosen to reflect on the silver lining in South Africa’s dark economic cloud for his end-of-year message. Zuma said much progress had been made in addressing the objectives of the nine-point plan he introduced at his 2015 State of the Nation Address. Zuma’s statement follows a …

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Pravin Gordhan: Let’s get down to business

Finance Minister Pravin Gordhan’s statement: I return to a portfolio that was assigned to me for five years between 2009 and 2014. I have been associated with the Finance Family for almost two decades. I am relatively familiar with the terrain and its challenges. The facts about the developments that …

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Fitch concerned about investor confidence in SA economy

pravin gordhan

JOHANNESBURG — Credit rating agency Fitch says the reappoinment of Pravin Gordhan as finance minister may not be enough to restore investor confidence in the country’s economy. It says it might take a lot more to ease uncertainty over the direction of South Africa’s economic policy. The rating agency believes …

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