JOHANNESBURG South Africa is unlikely to suffer a credit downgrade to junk in the short term, but the slow pace of reform illustrated by a logjam over ailing state power firm Eskom poses a serious risk, ratings firm Moody's said on Tuesday.
* Downgrade from Baa3 to sub-investment unlikely in
JOHANNESBURG South Africa's cash-strapped power utility Eskom could be forced to shut some plants if it fails to reduce emissions, its chief operating officer warned on Wednesday, raising the specter of further blackouts.
* Eskom debt weighs on ratings prospects
(Adds rand, analysts)
PRETORIA South Africa’s unemployment rate jumped to its highest since the global financial crisis more than a decade ago, data showed on Tuesday, piling pressure on a shrinking economy and President Cyril Ramaphosa’s pledge to deliver a turnaround.
* Governor Kganyago recently reappointed
(Adds detail, context)
LONDON/JOHANNESBURG, June 20 Seriti Resources
and a consortium backed by global energy trader Mercuria are
among up to six groups to have submitted final bids for the
South African coal assets of South32, four sources
familiar with the matter told Reuters.
JOHANNESBURG A row centring on the South African central bank exposed deep divisions in the governing ANC party on Wednesday, as a faction loyal to President Cyril Ramaphosa opposed calls from a rival group for the bank to do more to boost employment and growth.
* Major economic slump adds fuel to the fire
(Adds quotes from new governor and ANC officials, context)
PRETORIA/JOHANNESBURG South Africa's governing party has agreed to expand the central bank's mandate to include employment and growth as well as inflation, a senior party official said on Tuesday, hours after data showed the worst economic contraction in a decade.