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.
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
* NPA to fast-track investigation after getting PwC report
(Adds police, lawmaker and CEO comment)
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.
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
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
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.
* Rand currency hits weakest level in 6 weeks
(Adds Eskom official, context, updates rand)
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".
* Gordhan rules out privatisation
(Updates after ministry changes presentation)