S.Africa launches new probe into state contract with Germany’s SAP

By Alexander Winning JOHANNESBURG, Sept 6 : South African President Cyril Ramaphosa authorised a new investigation into a water ministry contract with German software firm SAP on Thursday, citing allegations that public money was spent unlawfully. The investigation by South Africa’s Special Investigating Unit (SIU) comes after the country’s anti-graft agency said in March it […]

Ramaphosa says South Africa to recover from recession soon

By Alexander Winning and Mfuneko Toyana JOHANNESBURG/PRETORIA, Sept 6 : South Africa will soon recover from recession, President Cyril Ramaphosa said on Thursday in his first reaction to news that undermines his effort to revive the economy and attract investment after a decade of stagnation. Ramaphosa staked his reputation on economic revival when he took […]

South African bond selloff resumes as Turkey contagion stokes local risks

By Mfuneko Toyana JOHANNESBURG, Aug 24 : South African bonds suffered twice the outflows of the next worst-hit emerging market at the height of the Turkey crisis as foreign investors scrambled to reduce volatility in their portfolios against a backdrop of rising economic risk. Even with forward markets now heavily pricing in interest rates hike […]