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Mfuneko Toyana

South African unemployment hits 11-year high

Jul 30 2019

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.

UPDATE 2-South Africa cuts rates but strikes cautious tone

Jul 18 2019

* Governor Kganyago recently reappointed (Adds detail, context)

Mercuria, S. African firms place bids for South32's SAEC coal mines

Jun 20 2019

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.

South African central bank row exposes ANC divisions

Jun 05 2019

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.

South African central bank mandate back in crosshairs after GDP shock

Jun 04 2019

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.

South Africa's Ramaphosa retains Mboweni, Gordhan in new, leaner cabinet

May 30 2019

PRETORIA/JOHANNESBURG South Africa's President Cyril Ramaphosa on Wednesday retained Tito Mboweni as finance minister in a new, leaner cabinet, following on from a pre-election pledge to reform and revive an ailing economy and attract foreign investors. | Video

ANC takes commanding lead in South Africa's election but support ebbs

May 09 2019

PRETORIA The African National Congress (ANC) was headed towards victory in South Africa's election on Friday, partial results showed, though the party was on course for its worst performance in a national poll in its 25 years in government. | Video

South Africa's ANC seen winning election but support faltering

May 08 2019

JOHANNESBURG/CAPE TOWN South Africans voting in a national election on Wednesday expressed frustration at rampant corruption, high unemployment and racial inequalities that persist 25 years after the first all-races poll marked the end of white minority rule. | Video

South Africa's Ramaphosa faces obstacles to reform

May 06 2019

JOHANNESBURG Even with a decisive election victory for South Africa’s ruling party this week, the country’s President Cyril Ramaphosa could still struggle to push through the tough reforms needed to galvanise Africa's most developed economy, say analysts and some party insiders.

As elections loom, South Africans call for faster land reform

May 06 2019

JOHANNESBURG, May 6 Surrounded by a crop of wilting sugar beans, Georginah Sidumo rubs red dust off a folder of documents she says are the only proof her farmers' cooperative has the right to work on the land it controls.

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