JOHANNESBURG (Reuters) – Africa’s under used gas reserves, either exported or burnt away into the sky, are set to play a big role in stemming the continent’s crippling electricity void, a shift that should boost economies and small-cap energy firms.
Sub-Saharan Africa contains some of the fastest growing and most dynamic economies in the world but electricity shortages deter investment, pushing up business costs and sustaining poverty and inequality.
JOHANNESBURG (Reuters) – The death toll from the collapse of a church guesthouse in Lagos has risen to 115, South African government minister Jeff Radebe said on Monday, urging the heavily criticized Nigerian government to investigate the “tragedy”.
The Sept 12. disaster in the church compound of popular preacher T.B. Joshua, which Radebe says killed 84 South Africans from visiting church groups, has opened up a diplomatic rift between the two African economic heavyweights.
PRETORIA, Sept 9 (Reuters) – South Africa wants to resume
oil imports from Iran, once its biggest supplier, and hopes to
resolve “sanction issues” that have blocked purchases within the
next three months, its deputy foreign minister said on Tuesday.
South Africa bought around 68,000 barrels of oil per day
(bpd) from Iran in May 2012, a month before it halted crude
purchases as Western countries pressured Tehran over its nuclear
programme. That was well down from peak purchases in 2011.
JOHANNESBURG, Aug 21 (Reuters) – Ratings agency Standard &
Poor’s said on Thursday it had no plans to downgrade South
African banks, easing concerns a cut by Moody’s on the country’s
four biggest lenders this week could have a knock-on ratings
Moody’s on Tuesday downgraded deposit ratings for Standard
Bank, FirstRand, Nedbank and Absa
Bank — Barclays Africa Group’s local operation.
JOHANNESBURG (Reuters) – The Ebola outbreak in West Africa is putting off thousands of tourists who had planned trips to Africa this year, especially Asians, including to destinations thousands of miles from the nearest infected community such as Kenya and South Africa.
Ebola, a hemorrhagic disease which can kill up to 90 percent of those it infects, has claimed more than 1,200 lives this year in the three small West African states of Liberia, Sierra Leone and Guinea, and also has a toehold in Nigeria.
JOHANNESBURG, Aug 11 (Reuters) – Protesters chanting “Blood
on his hands” briefly halted South African Deputy President
Cyril Ramaphosa’s evidence on Monday at an inquiry into the
police shooting of 34 striking mine workers two years ago.
Ramaphosa was a non-executive director at Lonmin
when negotiations to halt a violent wildcat strike at its
Marikana platinum mine ended in police shooting the strikers
dead on Aug. 16, 2012.
JOHANNESBURG, Aug 11 (Reuters) – South Africa’s Deputy
President Cyril Ramaphosa was trying to “prevent further loss of
life” when he intervened in a wildcat strike that ended with the
police killing 34 miners, he told an inquiry on Monday.
Ramaphosa, who led a historic strike for fairer pay for
black miners under apartheid in 1987, has faced accusations of
putting political pressure on the police to take action against
striking Lonmin employees before the shooting at the
Marikana mine on Aug. 16, 2012.
JOHANNESBURG (Reuters) – Mountain bikers tempted by the $1 million in prize money up for grabs in a new South African endurance race are given a warning before they sign up: “This could change your life, or end it”.
Teams of two will have to come up with a $10,000 entrance fee to race on Dec. 3 in The Munga – a grueling unassisted 1,000-km (620-mile) ride across South Africa’s semi-arid Karoo desert region at the height of summer.
JOHANNESBURG, July 29 (Reuters) – South Africa’s ruling
African National Congress (ANC) would like a local company to
buy mines being sold by Anglo American Platinum but it
will not try and influence the deal, the party said on Tuesday.
The world’s biggest platinum producer, a unit of Anglo
American, said last week it would sell a swathe of its
most labour-intensive South African mines after a five-month
strike hit its revenues and as it follows a long-term pivot to
JOHANNESBURG, June 24 (Reuters) – The end of South Africa’s
longest strike will provide respite for its troubled platinum
sector, but the stranglehold unions have over a flatlining
economy has not loosened and more industrial action is looming.
The Association of Mineworkers and Construction Union (AMCU)
signed a wage deal on Tuesday with Lonmin ,
Anglo American Platinum and Impala Platinum to
end a five-month stoppage that dragged Africa’s most developed
economy into contraction.