Business In The News South Africa

National Treasury aims to restore SA investment grade rating

PRETORIA, May 26 – Government will engage ratings agency S&P Global on their areas of concern, while taking steps to restore South Africa’s investment grade credit rating – a top priority, the National Treasury said. “Government notes S&P’s decision to affirm South Africa’s long-term foreign and local currency debt ratings at “BB” and “BB+” respectively, […]

Business In The News South Africa

SAA to support passengers of grounded SA Express, unions worried about jobs

JOHANNESBURG. 25 – May 2018 – State-owned South African Airways (SAA) said on Friday it had recovery plans in place that entailed partnering with other airlines to support passengers affected by the grounding of SA Express planes. The National Union of Metalworkers of South Africa (Numsa) said it was concerned about the safety of workers at the […]

Business In The News South Africa

SAA scrambling to save the day for passengers of suspended SA Express

JOHANNESBURG, May 25 – The South African Airways (SAA) on Thursday said it supported its embattled subsidiary, South African Express, after all its flights were suspended by the country’s civil aviation authorities. The South African Civil Aviation Authority (SACAA) on Thursday announced that it had suspended SA Express due to negative audit findings on the airline which among […]

Business In The News South Africa

SA Express working with aviation authorities to resolve suspension of operations

JOHANNESBURG, May 25 – SA Express said on Thursday that it was working with the South African Civil Aviation Authority (SACAA) to address issues of safety in its operations in a bid to return all its flights to the skies after they were grounded. “Passenger safety remains our top priority and our 24-year safety record reflects this. We are […]

Business In The News South Africa

Mantashe vows to finalise mining charter in June

JOHANNESBURG, May 24  – South African minister of mineral resources Gwede Mantashe said on Thursday his department plans to finalise the revamped mining charter, the government’s regulation tool for transformation, by the end of next month. “We aim to finalise and gazette the mining charter in June, having taken on-board inputs and concerns from stakeholders across the country,” Mantashe […]

Business In The News South Africa

Cabinet confirms Phakamani Hadebe as Eskom chief executive

PARLIAMENT, May 24  – Interim Eskom boss Phakamani Hadebe has been appointed permanently as chief executive officer of South Africa’s state-owned power utility, Public Enterprises Minister Pravin Gordhan announced on Thursday.   Speaking during a media briefing in Parliament, Gordhan said Hadebe’s appointment was approved by Cabinet during its fortnightly meeting on Wednesday.   The […]

Business In The News South Africa

Exxaro appoints Geraldine Fraser-Moleketi to its board

JOHANNESBURG, May 23 – South African coal and heavy minerals mining company Exxaro Resources on Wednesday announced former minister for public service and administration Geraldine Fraser-Moleketi as an independent director in its board. This follows the retirement of three independent directors from the board in March. Fraser-Moleketi serves as a non executive director on the board […]