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South Africa’s central bank has temporarily prohibited the use of debt issued by the Land Bank as collateral after the state agricultural lender was downgraded deeper into junk status and missed $2.7 billion in loan repayments.

South Africa suspends use of Land Bank debt as collateral after default

South Africa’s central bank has temporarily prohibited the use of debt issued by the Land Bank as collateral after the state agricultural lender was downgraded deeper into junk status and missed $2.7 billion in loan repayments.
South Africa’s central bank (SARB) said on Friday it would reduce overnight repo auctions to one per day from the two it has held since early March to inject liquidity into the banking system amid the coronavirus pandemic.

South Africa’s central bank switches back to one daily repo auction

South Africa’s central bank (SARB) said on Friday it would reduce overnight repo auctions to one per day from the two it has held since early March to inject liquidity into the banking system amid the coronavirus pandemic.
South African Airways has announced that it will continue to honour its flight obligations to cargo and evacuation flight customers all through this month.

South African Airways to continue honouring flight obligations

South African Airways has announced that it will continue to honour its flight obligations to cargo and evacuation flight customers all through this month.
South Africa’s rand firmed against the dollar early on Wednesday after President Cyril Ramaphosa announced a 500 billion rand ($26.41 billion) rescue package on Tuesday evening to cushion the economic blow of the COVID-19 pandemic.

South Africa’s net foreign reserves rise to $45.5 billion in April

Gross reserves also increased, to $53.003 in April from $52.458 billion previously. The forward position, representing the central bank’s unsettled or swap transactions, decreased to a balance of $592 million in April after a positive balance of $631 million previously.
Koeberg Nuclear Power Plant. 21 August 2010. Wikimedia Commons-Paul Scott

South Africa to develop plan for new 2,500 MW nuclear plant

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.
Mine workers are seen under ground at the end of their shift at Cullinan mine, near Pretoria, South Africa, February 1, 2019. REUTERS-Siphiwe Sibeko-File Photo

Coronavirus lockdown pushes South African PMI to record low in April

South African private sector activity fell to a new record low in April, a business survey showed on Wednesday, as company closures due to a nationwide coronavirus lockdown led to a collapse in demand.
A man walks past a closed Toyota car dealership during the coronavirus disease (COVID-19) nationwide lockdown in Cape Town, South Africa, April 28, 2020. REUTERS-Mike Hutchings

South Africa’s auto industry ambitions threatened by coronavirus

The expansion of South Africa’s auto industry is central to the government’s economic development strategy but the coronavirus crisis has forced carmakers into survival mode and could push ambitious growth plans out of reach.
The recently released Jennifer Ukambong Samuel has confirmed she met with Alice, who was abducted by members of the Boko Haram sect about two years ago.

Jennifer Samuel: I saw Alice Loksha, she said Grace Taku, Leah Sharibu are fine

The recently released Jennifer Ukambong Samuel has confirmed she met with Alice, who was abducted by members of the Boko Haram sect about two years ago.
Former Brazil international Hulk, real name Givanildo Vieira de Sousa, says there is nothing hidden about his dating the niece of his ex-wife Iran Angelo de Souza, according to UOL.

Hulk: Nothing to hide about dating my ex-wife’s niece

Former Brazil international Hulk says there is nothing hidden about his dating the niece of his ex-wife Iran Angelo de Souza, according to UOL.

Air Peace to begin flights to Johannesburg, Sharjah in June

Nigerian carrier, Air Peace, says it will begin flight operations to Johannesburg, South Africa and Sharjah, United Arab Emirates next month.
Forensic police officers at a property in Bedford, Perth - Australian Associated Press

Husband ‘kills wife, toddler children’ in Australia home

A 24-year-old man has been accused of killing his wife, three toddlers and mother-in-law with a blunt instrument and knives at their suburban family home, where he remained for several days before turning himself in, Australian police said Monday.

Prince William’s wife Kate in hospital in labour

Kate, the wife of Britain’s Prince William, was admitted to hospital, in London, on Monday, in the early stages of labour, Kensington Palace announced.

Recent Stories

Medical council validates four coronavirus test kits – registrar

The Medical Laboratory Science Council of Nigeria (MLSCN) says it has validated four Rapid Test Kits to determine their suitability for testing SAR-COV-2 infection popularly known as COVID-19 in the country.
Legendary reggae artiste, Majekodunmi Fasheke, aka Majek Fashek is dead. The artiste died in a New York hospital after a protracted illness on Monday about 5-45pm. He was aged 71.

Nigerian celebrities mourn deceased Majek Fashek

Nigerian celebrities have taken to their social media platforms to mourn the death of Music Legend, Majekodunmi Fasheke, a.k.a Majek Fashek.
Rwanda says it will announce new restrictions on containing the coronavirus Tuesday, a stark reversal of the country's plan days ago to ease restrictions, including motor vehicle travel throughout the country.

Rwanda set to announce new coronavirus restrictions

Rwanda says it will announce new restrictions on containing the coronavirus Tuesday, a stark reversal of the country's plan days ago to ease restrictions, including motor vehicle travel throughout the country.
Nigerian President Muhammadu Buhari3

Nigeria declares telecoms facilities critical national Infrastructure

In response to the yearnings of industry stakeholders to declare telecom facilities Critical National Infrastructure, President Muhammadu Buhari, has finally approved and also directed that necessary physical protective measures be put in place to safeguard telecommunications infrastructure deployed across the country.
President Muhammadu Buhari has again, addressed Nigerians on the efforts of its government to contain the coronavirus pandemic (covid-19) that is ravaging the country 4

ASCAB: President Buhari’s speech underestimate Sani Abacha’s $5 billion loot

Alliance for Surviv­ing COVID-19 and Beyond, (ASCAB), a group led by prominent Nigerian human rights lawyer, Femi Falana has said that President Mu­hammadu Buhari’s claim that late dictator, Sani Abacha, stole $1 billion con­tradicts the figures earlier released by his own officials.