Wendell Roelf

South Africa to get almost $1 billion in loans from BRICS bank

01 Apr 2019

CAPE TOWN A development bank set up by the BRICS group of emerging economies has approved around $790 million of loans for three projects in South Africa, the bank's president said on Monday, with over half that amount going to power company Eskom.

Foreign buyers flock to Cape Town's booming art scene

20 Mar 2019

CAPE TOWN Collectors from America and Europe are scouring Cape Town's booming art scene in search of deals as diverse as an expressive oil painting by South Africa's Irma Stern or a sculpture assembled from bottle caps by Ghana's El Anatsui. | Video

UPDATE 2-Ex-CEO, seven others responsible for Steinhoff fraud, new CEO tells lawmakers

19 Mar 2019

* NPA to fast-track investigation after getting PwC report (Adds police, lawmaker and CEO comment)

Expats fear expulsion as South Africa moves to tighten job terms

27 Feb 2019

CAPE TOWN, Feb 27 Foreign workers in South Africa with expertise deemed vital to the economy are worried that authorities will reduce the number of critical skills eligible for work permits, a move they say could force some of them out of the country as early as April.

From fishing village to gastronomic heaven: tables turn for Wolfgat

26 Feb 2019

PATERNOSTER, South Africa In a small fishing village on South Africa’s rugged west coast, restaurateur Kobus van der Merwe is struggling to process his meteoric rise to gastronomic stardom. | Video

South Africa pledges $5 billion Eskom bailout as budget creaks

21 Feb 2019

CAPE TOWN South Africa will bail out state utility Eskom with 69 billion rand ($4.9 billion) over three years, the centrepiece of a budget that exposed the limited room President Cyril Ramaphosa has to fix the economy ahead of an election in May. | Video

Eskom split to minimize risks to South Africa, Ramaphosa says

14 Feb 2019

JOHANNESBURG/CAPE TOWN South African President Cyril Ramaphosa said his plan to divide struggling state power firm Eskom into three units would minimize risks to the economy, as a fifth day of power cuts hurt businesses and drove the rand to a six-week low on Thursday.

UPDATE 3-Eskom split to minimise risks to South Africa, Ramaphosa says

14 Feb 2019

* Rand currency hits weakest level in 6 weeks (Adds Eskom official, context, updates rand)

Eskom in danger of collapse without bailout, South Africa says

13 Feb 2019

JOHANNESBURG/CAPE TOWN South African power utility Eskom needs a cash injection by April to survive, the country's public enterprises ministry warned in a presentation on Wednesday, although it later changed its wording to say the firm was "facing liquidity challenges".

UPDATE 3-Eskom in danger of collapse without bailout, South Africa says

13 Feb 2019

* Gordhan rules out privatisation (Updates after ministry changes presentation)

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