Business In The News South Africa

Price pressures from petrol, electricity to prevent interest rate cut

JOHANNESBURG, November 23 – South Africa’s central bank is likely to keep interest rates unchanged despite a struggling economy when it concludes its last policy meeting of the year on Thursday, hamstrung by looming inflation pressures from rising energy prices.     The Reserve Bank’s monetary policy committee, which is chaired by Governor Lesetja Kganyago and […]

In The News South Africa

Brown denies claims Zuma instructed her to remove Eskom officials

 PARLIAMENT, November 23 – Public Enterprises Minister, Lynne Brown, on Wednesday, denied that she received a phone call from President Jacob Zuma in 2015, instructing her to suspend three Eskom executives, contradicting the explosive evidence of a former company board chair. “I said no, Advocate [Ntuthuzelo] Vanara,” Brown replied wearily when the evidence leader in […]

In The News South Africa

Former Eskom board chair Zola Tsotsi testifies in parliamentary inquiry

PARLIAMENT, November 22 – Former Eskom board chairman Zola Tsotsi has started his testimony before a parliamentary inquiry into allegations of state capture at South African power utility Eskom. “The lapses in good corporate governance that have been occasioned by poor decision-making have opened up the company to exploitation by unscrupulous rent seekers,” Tsotsi said […]