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Tag: South Africa

News

South Africa’s consumer inflation rises to 5.6%

South Africa’s consumer inflation increased for the second time in a row in February, inching closer to the Central Bank’s upper target. Economists in the country stated this could imply longer waits for rate cuts. According to Reuters, headline consumer inflation rose to 5.6% year on year from 5.3% in January, Statistics South Africa data […]

Nigeria begins export to South Africa, others April - AfCTA
featured News

Nigeria begins export to South Africa, others April – AfCTA

Melvin Onwubuke Nigeria is to begin the formal export of locally produced commodities to South Africa, Rwanda, Cameroon, and Kenya from next month under the Guided Trade Initiative of the African Continental Free Trade Area. this was disclosed by the Executive Secretary of, the National Action Committee on AfCFTA, Olusegun Awolowo, while Speaking on the […]

Nigeria to supply South Africa gas from 2024
Oil and Gas

Nigeria to supply South Africa gas from 2024

A Nigerian energy company, Riverside LNG, has reported ongoing talks about a prospective arrangement to supply gas to South Africa beginning in the first quarter of 2024. According to Bloomberg, this would be the first such agreement between the two countries, demonstrating potential collaboration in the energy sector. Earlier this year, the company formed a gas-export collaboration […]

South Africa to probe Meta, Google competition with news publishers
News Tech

South Africa to probe Meta, Google competition with news publishers

The Competition Commission of South Africa disclosed on Tuesday it will look into allegations that ad-supported internet platforms like Meta and Google unfairly competed with news publishers by utilising their content to generate revenue. The Commission will look into, among other things, market characteristics that could distort competition between news media companies and digital platforms […]

South Africa to alter taxation laws for remote workers
News Tech

South Africa to alter taxation laws for remote workers

A draft of the proposed tax administration bill, which will attempt to alter how remote employees pay taxes, has been shared by South African Revenue Services. One of the suggested bills seeks to eliminate the distinction between remote and non-remote workers and to mandate pay-as-you-earn tax deductions by employers of remote employees based in South […]

SpaceX’s Starlink hit 4m subscribers
News Tech

Starlink, ‘low-priority’ South Africa’s rift deepens

SpaceX’s satellite internet service, Starlink has classified South Africa as a low-priority area for a potential launch. This classification became necessary for Starlink as regulatory rift continue between the Elon Musk-led company and the South African government. SpaceX clarified the situation by claiming that it had a method for prioritising nations before a Starlink rollout. […]

South African billionaire Natie Kirsh hits $310m in 30 days
Business

South African billionaire Nathan Kirsh hits $310m in 30 days

South African millionaire Nathan Kirsh’s net worth has increased by $310 million in just 30 days. According to Bloomberg estimates, Kirsh’s net worth was $7.30 billion as of June 25, 2023, but as of today, June 26, 2023, it has risen to $7.61 billion. The 91-year-old billionaire owns a sizable conglomerate of businesses that serve the […]

News

South Africa to license Crypto operators by end of 2023

Alex Omenye South Africa’s new crypto regulation will make it impossible for cryptocurrency exchanges to operate there without a licence, by November 30. Bloomberg says that before the end of the year, South Africa’s Financial Sector Conduct Authority would mandate that all cryptocurrency exchanges there operate under licences. The FSAC has set a deadline of […]

South African rand bows to rising dollar
News

South African rand bows to rising dollar

South Africa’s rand experienced a decline on Monday against a strengthening US dollar, with investors anticipating the central bank’s verdict on monetary policy later this week. As of 06:35 GMT, the rand was trading at 18.2050 versus the dollar, reflecting a decrease of 0.26% from its previous close. In contrast, the dollar index, which measures […]

Telkom
News

South Africa’s Telkom under pressure as shares plummets

South African company, Telkom is facing pressure on its profit margins as its share price falls by more than 30 percent over the last month. It was gathered that this was a result of poor results and the failure of telecommunication giant, MTN to take over the operator. The company had earlier warned its stakeholders […]

S.Africa signs wind energy deal to ease power outages
Electricity

S.Africa signs wind energy deal to ease power outages

South Africa on Thursday inked the first three of a series of agreements with independent producers to supply wind energy amid worsening blackouts in the continent’s most industrialised economy. The coal-dependent country picked 25 wind and solar projects to generate a total of 2,583 megawatts, a boost of roughly 4.5 per cent on current capacity. […]

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