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South Africa’s economy could contract 8.2% this year, and grow just 0.6% in 2021, if a second wave of COVID-19 cases hits the country and its main trading partners, the OECD said on Friday.
South African Airways (SAA) creditors approved a rescue plan for the struggling airline on Tuesday that requires at least 10 billion rand ($596 million) in new funding, throwing the ball into the government’s court to come up with the cash.
A South African court on Thursday dismissed an appeal by administrators in charge of South African Airways (SAA) against a ruling which prevented them from laying off staff.
When the new coronavirus hit Tanzania in mid-April, President John Magufuli called for three days of national prayer to seek God’s protection from the scourge. Barely a month later, he claimed victory over the disease and invited tourists to return to his East African nation.
South Africa’s rand opened stronger on Friday and was on course for gains of roughly 2% against the dollar this week, after the first current account surplus in 17 years and an upbeat U.S. jobs report.
South Africa’s current account balance swung to a surplus of 1.3% of gross domestic product (GDP) in the first quarter of 2020 from a deficit of 1.3% of GDP in the previous three months, central bank data showed on Thursday.
Botswana has tapped into its strategic fuel reserves to alleviate shortages caused by import delays during the coronavirus crisis and also what the government has called panic-buying.
The South African government has agreed to fund a restructuring of South African Airways (SAA), if a business rescue plan for the struggling state-owned airline is adopted, a copy of the draft plan showed on Monday.
South Africa partly lifted a two month-old coronavirus lockdown on Monday, letting people outside for work, worship, exercise or shopping, and allowing mines and factories to run at full capacity to try to revive the economy.
Administrators at South African Airways have asked creditors to approve an extension until June 8 for the publication of a business rescue plan for the struggling state airline, a letter seen by Reuters said.
South African state asset manager the Public Investment Corporation (PIC) has submitted a proposal to government on converting bonds it holds in struggling state utility Eskom into equity, PIC chairman Reuel Khoza told Reuters in an interview.
Denel, which makes military hardware for the South African armed forces and clients around the world, added in a statement to reporters that it was talking to the government to try
Administrators at state-owned South African Airways (SAA) will not sell assets for an interim period without involving the government, a memorandum signed by one of the administrators and the public enterprises ministry showed.
South African President Cyril Ramaphosa said on Wednesday he aimed to further ease restrictions imposed to curb the new coronavirus, but places with the most infections likely would remain into June on “alert level 4” of a five-level system.
South African state utility Eskom plans to correct design defects at all units of its mammoth Medupi and Kusile coal-fired power stations, it said on Monday, after completing modifications on one of the plants’ units.
The deadline for South African Airways (SAA) staff to agree layoff terms has been suspended while a judge considers his ruling in a court case brought by two trade unions at the cash-strapped airline.
South Africa will soon start developing a plan for a new 2,500 megawatt (MW) nuclear power plant, the energy ministry told lawmakers on Thursday.
Nigerian Breweries Plc says it earned a revenue of N152 billion for the half-year (H1) ended June 30, 2020.
Rangers’ new defender savoured his opening Scottish Premiership experience with an impressive performance in his side’s 1-0 win at Aberdeen, courtesy of Ryan Kent’s first-half strike.
Delta State Governor Dr. Ifeanyi Okowa, on Monday, assured that the state government would continue to give priority attention to projects that would boost the economy and enhance the living condition of the people.
The Education Authority, Federal Capital Territory Administration (FCTA) has directed all schools in Abuja to re-open academic activities for students in graduating classes on Tuesday.
All Senior Secondary 3 students in Kwara would resume on Wednesday as the state government had distributed 65, 000 face masks to schools ahead of the resumption.
Bayelsa State Government says it is taking steps to ensure that schools are safe to allow final year students to resume and participate in external examinations as directed by the federal government.
China’s manufacturing activity expanded in July at the fastest pace in almost a decade, according to a private survey released on Monday, though employment continued to drop in the wake of the coronavirus crisis.
Napoli coach Gennaro Gattuso is now thinking about his side’s UEFA Champions League last 16 second leg match against Barcelona at Camp Nou after rounding off their 2019/20 Serie A campaign.
Some residents of Gwagwalada Area Council, Federal Capital Territory (FCT) on Thursday called on the government to demolish houses built on waterways in the council to avoid perennial flooding.
The Federal Capital Territory (FCT) led the pack on Saturday with 130 Coronavirus (COVID-19) cases as the country recorded 386 new infections in the country.