Peroshni's Feed
Aug 11, 2015

South Africa’s power utility Eskom to borrow $1.6 bln

JOHANNESBURG, Aug 11 (Reuters) – South Africa’s
cash-strapped power utility Eskom said it plans to
borrow more than 20 billion rand ($1.6 billion) from the
domestic market and international bonds and would renegotiate
coal contracts to cut costs.

Eskom has already raised 49.5 billion rand in external
funds, easing liquidity pressures, Chief Executive Brian Molefe
said in a results presentation on Tuesday.

Aug 5, 2015

S.African coal workers reject employers’ pay offer

JOHANNESBURG, Aug 5 (Reuters) – Unions representing workers
at South African coal producers have dismissed a wage offer from
employers’ body, the Chamber of Mines and said negotiations were
“not making progress”, setting the stage for a potentially
prolonged dispute.

Workers want pay increases of up to 15 percent, while the
chamber – which represents firms such as Glencore,
Anglo American Coal and Exxaro – has offered a
three-year wage deal with pay raises of between 4 to 6.5
percent.

Aug 4, 2015

Judge throws out fraud case against S.African firebrand Malema

JOHANNESBURG, Aug 4 (Reuters) – A judge threw out corruption
charges against South African opposition firebrand Julius Malema
on Tuesday, a ruling hailed as a major victory by the vocal
critic of President Jacob Zuma.

Malema had been accused of money laundering, racketeering
and fraud relating to government contracts. But Judge George
Mothle said he had waited too long for his trial after a string
of postponements, telling him: “You are free to go.”

Jun 29, 2015

South African regulator rejects Eskom tariff hike request

PRETORIA, June 29 (Reuters) – South Africa’s energy
regulator rejected on Monday a request from cash-strapped
utility Eskom to raise tariffs, and the state-owned power
company said it would consult with the government on alternative
ways of funding.

Eskom, which provides virtually all of
South Africa’s electricity, is scrambling to repair its aging
power plants and grid, forcing it to impose almost daily power
cuts that are hurting economic growth.

Jun 26, 2015

South African probe blames Lonmin, police, unions for ‘Marikana massacre’: report

JOHANNESBURG (Reuters) – An inquiry into South Africa’s worst police killing since the end of apartheid blamed a mining company, police and unions for the “horrendous tragedy”, President Jacob Zuma said on Thursday.

The 2012 “Marikana massacre”, where 34 miners were gunned down, shocked the world. The police, mining companies, unions, the ruling African National Congress (ANC) and Zuma all came under intense public and media criticism.

Jun 25, 2015

South African probe blames Lonmin, police, unions for “Marikana massacre”- Zuma

JOHANNESBURG, June 25 (Reuters) – An inquiry into South
Africa’s worst police killing since the end of apartheid blamed
a mining company, police and unions for the “horrendous
tragedy”, President Jacob Zuma said on Thursday.

The 2012 “Marikana massacre”, where 34 miners were gunned
down, shocked the world. The police, mining companies, unions,
the ruling African National Congress (ANC) and Zuma all came
under intense public and media criticism.

Jun 17, 2015

Business lobby submits urges regulator to halt rise in S.African power prices

JOHANNESBURG, June 17 (Reuters) – Power prices in South
Africa have risen 70 percent since 2010 and a second
double-digit increase proposed for this year will make it
difficult for the country’s businesses to compete
internationally, an industry body said on Wednesday.

Africa’s most advanced economy is in the midst of its worst
electricity crisis and Eskom, which supplies
95 percent of South Africa’s power, raised tariffs by 12.69
percent in April and has applied for a further 12.7 percent
price increase to come into effect from July 1.

Jun 4, 2015

South Africa to review new travel rules to protect tourism: minister

CAPE TOWN (Reuters) – South Africa’s government is reviewing its new travel rules for minors after signs that they are already hurting the key tourist sector, Tourism Minister Derek Hanekom said on Thursday.

Tourism has become the fastest-growing industry for Africa’s most advanced but ailing economy, with arrivals soaring after South Africa successfully hosted the 2010 soccer World Cup.

Jun 4, 2015

S.Africa to review new travel rules to protect tourism -minister

CAPE TOWN, June 4 (Reuters) – South Africa’s government is
reviewing its new travel rules for minors after signs that they
are already hurting the key tourist sector, Tourism Minister
Derek Hanekom said on Thursday.

Tourism has become the fastest-growing industry for Africa’s
most advanced but ailing economy, with arrivals soaring after
South Africa successfully hosted the 2010 soccer World Cup.

Apr 20, 2015

South Africa’s Zulu king wants end to ‘vile’ xenophobic attacks

DURBAN, South Africa (Reuters) – South Africa’s influential Zulu King Goodwill Zwelithini described recent anti-immigrant attacks as “vile” on Monday, defending himself against claims previous comments he made about foreigners sparked the unrest.

At least seven people have been killed in the latest wave of anti-immigrant violence to hit South Africa, which began almost three weeks ago in Durban, a coastal city in the Zulu heartland.