National Treasury (South Africa) News

Shameel Joosub CEO, Vodacom

Vodafone unit mulls bid for South Africa state internet company

Vodafone Group Plc’s South African unit is considering a bid for unprofitable state-owned Internet company Broadband Infraco, as the government works toward the privatization of some assets to boost the country’s finances.

South Africa threatens action as hedge funds slow to enroll

South Africa threatens action as hedge funds slow to enroll

South Africa’s Financial Services Board is threatening to take regulatory and enforcement action against hedge funds that fail to register as collective investments.

Tshediso Matona, former Eskom CEO

South Africa's power utility Eskom parts ways with suspended CEO Tshediso Matona

South Africa’s power firm Eskom said on Monday it had agreed to “amicably” part ways with its chief executive who was suspended pending an inquiry into operations at the struggling utility.

South Africa looking at sale of Eskom power stations

South Africa looking at sale of Eskom power stations

South Africa is considering selling some of the state-owned power utility Eskom’s stations or an initial public offering of a portion of the cash-strapped utility’s shares, the Business Day newspaper said on Wednesday, quoting a Treasury official.

Brian Molefe, the newly appointed acting chief executive officer of power utility Eskom Holdings SOC Ltd., is a former senior Treasury official. Source: Transnet SOC Ltd./Eskom Holdings SOC Ltd. via Bloomberg

South Africa Treasury ex-officials soothe investors in new roles

South Africa is increasingly turning to National Treasury officials from the country’s first decade of democratic rule to help steer key economic institutions and boost investor confidence.

Eskom

South Africa to sell Telkom and Vodacom shares to raise $870M for public power utility Eskom

South Africa’s government is planning to inject USD 870 million into public power utility Eskom, and it may sell its stakes in Telkom and Vodacom to raise the money.

Lesetja Kganyago, Deputy Governor of the South African Reserve Bank

Lesetja Kganyago appointed new governor of South African Reserve Bank (SARB)

The South African rand has been on the up all day.

Monwabisi Kalawe, CEO, South African Airways

South African Airways to Buy New Planes Amid Funding Review

South African Airways SOC Ltd. is readying an order for new planes as the government reviews the carrier’s finances to ensure it remains sustainable.

Nhlanhla Nene

Nhlanhla Nene, South Africa’s New Finance Chief, Pledges Fiscal Discipline

Nhlanhla Nene, who replaced Pravin Gordhan as South African finance minister, pledged to follow his predecessor in bringing down the budget deficit and spurring the economy.

Striking Miners in South Africa

South African economy contracts for the first time since 2009 recession

South Africa’s economy contracted in the first quarter for the first time since a 2009 recession as the longest mining strike in the nation’s history cut output.