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POLITICS

Farmgate aimed at weakening ANC - Nzimande drops a bombshell

The outgoing SACP president Blade Nzimande has made startling revelations that the Phala Phala farm expose was aimed at weakening the ANC. “It is clear that some individuals, others from within the ranks of our own movement, have gotten into the habit of using their state positions, past or present for purposes of pursuing factionalist motives,” he said during a report-back to more than 400 SACP delegates.

  23 days ago ago
Farmgate aimed at weakening ANC - Nzimande drops a bombshell

BUSINESS

The Real Reason Why The National Shutdown Won't Be Extended.

Recent developments brought about by the deadly Coronavirus pandemic that originated from Chinese city of Wuhan are unprecedented and devastating, not only on South African economy but worldwide.  As of now, more than one million people have contracted the disease, and more than 60,000 people have lost their lives. The majority being Americans, Spanish and Italians.  Currently there are more than 1,500 confirmed cases in South Africa. And a total of 9 confirmed deaths. President Cyril Ramaphosa is faced with

  2 years ago ago
The Real Reason Why The National Shutdown Won't Be Extended.

BUSINESS

5 South African Banks in Trouble

Big five South Banks have been downgraded by two rating agencies Fitch and Moody's. These are Standard Bank, ABSA, Investec,First Rand and Nedbank. These banks have been  given a BB rating by Fitch which is below the investment grade BB+. On Tuesday, Fitch said it expects SA bank to face multiple challenges in the near term, including a decline in client activity and lower interest rates, which will put pressure on managing and leading to rising credit losses. Moody's Investors Service has also downgraded

  2 years ago ago
5 South African Banks in Trouble

FASHION-BEAUTY

Watch:The most trending short skirts see photos

CATEGORIY:FASHION I do not know approximately you, however I generally tend to companion denim skirts with excessive school and Abercrombie & Fitch. Rest assured, however, there are lots of decidedly grown-up approaches to put on denim skirts proper now. Yes, denim mini skirts are nevertheless cool, however while paired with a button-down shirt, chunky sandals, or a quite floral blouse, they could appearance downright sophisticated. Of course, minis are not the simplest path to go. I've been recognizing an increasing

  1 year ago ago
Watch:The most trending short skirts see photos

BUSINESS

Experts Advise Companies to Cut Salaries By 30% From July

Following predictions of the global economic crisis resulting from the pandemic, which is yet to escalate for as long as the virus is with us; there have been considerations to use resources that the country are left with sparingly in order to survive for the next years to come, which include more job cuts and salary cuts. South African Finance Minister has been urged by South Africa's largest health insurance administrator, Discovery, the implement a 30% decrease of salaries within the public sector as on

  2 years ago ago
Experts Advise Companies to Cut Salaries By 30% From July

BUSINESS

5 South African Banks At Risk

Big five South Banks have been downgraded by two rating agencies Fitch and Moody's. These are Standard Bank, ABSA, Investec,First Rand and Nedbank. These banks have been  given a BB rating by Fitch which is below the investment grade BB+. On Tuesday, Fitch said it expects SA bank to face multiple challenges in the near term, including a decline in client activity and lower interest rates, which will put pressure on managing and leading to rising credit losses. Moody's Investors Service has also downgraded

  2 years ago ago
5 South African Banks At Risk

BUSINESS

Fitch further downgrades 5 major South African banks.

On the 1st of April reduced major South African Banks by a single notch to BB, which is already in junk status. These banks are ABSA, Nedbank, Standard Bank, Investec and First Rand. The downgrade is related to the corona virus, Fitch takes into consideration communities that are vulnerable and says the operating environment is highly dense and heavily exposed to the pandemic. They do not agree with regulations by the banks, in response to the Covid-19 entering South Africa. Fitch examines that the operatin

  2 years ago ago
Fitch further downgrades 5 major South African banks.

BUSINESS

60% Job Cuts After April.

After the decline of the Rand  due to the global meltdown, the South African currency has a chance of further declining in the coming months. The South African currency lost over 4% on Friday reaching R19/US$1. This was also caused by investors selling off stocks of emerging market companies. " The sell-off emanates from the failure in confidence on the back of the COVID-19 fallout leaves countries such as South Africa, with  poor fiscal structures, with nowhere to hide. Fitch moved to downgrade SA furthe

  2 years ago ago
60% Job Cuts After April.

POLITICS

New Finance Minister in town

Fitch Ratings analyst Jan Friederich said that South Africa's new Finance Minister Enoch Godongwana's heavyweight status in the ruling party may help build alliances for the fiscal policy advocated by the Ministry of Finance. After Tito Mboweni resigned, he was appointed chief financial officer in the cabinet reorganization on Thursday night.

  1 year ago ago
New Finance Minister in town

POLITICS

Unexpected| Grants will No Longer Be Paid & Alcohol Will Be Re-banned, Mboweni Warns South Africans.

S.Africa's finance Minister cautions a third wave of COVID-19 could hurt nation's appraisals  https://www.reuters.com/article/safrica-economy/s-africas-finance-minister-warns-a-third-wave-of-covid-19-could-hurt-countrys-ratings-idUSL4N2LG49X South Africa's finance Minister said on Thursday that a third rush of the Covid could destabilize the government's endeavors to control its funds and keep away from a further minimization of the country's sovereign rating.  Two of the best

  1 year ago ago
Unexpected| Grants will No Longer Be Paid & Alcohol Will Be Re-banned, Mboweni Warns South Africans.

FASHION-BEAUTY

How to style your denim skirts in autumn

The denim skirt is ultra-nostalgic for me. In the aughts, it was a superficial point of interest among the young ladies in my school, especially small scale minis from Abercrombie and Fitch or Hollister, styled with bright (and frequently layered!) polo shirts with popped collars. Thinking back, it's unimaginably cringeworthy, yet a style second I savored regardless. As my style has developed, I've never fully moved toward denim skirts with a similar energy, that is, until their ongoing resurgence. The design

  2 years ago ago
How to style your denim skirts in autumn

BUSINESS

What Moody's downgrade to junk status for Soutg Africa means

Moody's is the third rating agency to downgrade South africa to Junk status, after Standard and Poor's (S&P) and Fitch. South Africa was rated as a Baa3 at Moody's, which is the lower- medium grade, it was downgraded to Ba1, which is non-investment grade speculative, meaning negative outlook and junk status. Moody's justifies the downgrade by mentioning weak fiscal strengthening, which is also shown by consistent weak GDP growth and forecasts that say they will weaken in the future. Moody's also saysvtheybd

  2 years ago ago
What Moody's downgrade to junk status for Soutg Africa means

BUSINESS

6 Events That Could Trigger More Downgrades For South Africa

South Africa sunk further into garbage region a week ago after Moody's Investors Service joined Fitch Ratings in bringing down the nation's FICO scores. Standard and Poor's Global Ratings on Friday kept its appraisal of South Africa's unfamiliar cash obligation three levels beneath speculation grade, with a steady viewpoint. Fitch minimized South Africa's drawn out unfamiliar and nearby money obligation appraisals to 'BB-' from 'BB'. The office kept up a negative viewpoint. As indicated by Fitch, both the downsize

  1 year ago ago
6 Events That Could Trigger More Downgrades For South Africa

BUSINESS

Country under distress after downgraded to ‘junk’ status by Moody’s

Rating agency, Moody’s Investors Services, downgraded South Africa to ‘junk’ status. Although this reality was expected after Standard and Poor’s (F&P) and Fitch having done the same, it could not have happened at a worse time. South Africa’s credit rating is now below investment grade, putting even more pressure on an already struggling economy due to the global pandemic, coronavirus.  The nationwide lockdown that temporarily seized all activity (with exception to essential services) played a bi

  2 years ago ago
Country under distress after downgraded to ‘junk’ status by Moody’s

BUSINESS

Tito Mboweni Says Rating Downgrade Will Raise Borrowing Costs

On Saturday Finance minister Tito Mboweni said the decision by Fitch and Moody's is a painful one to happen to South Africa. Tito Mboweni also said the ratings downgrade by the two American rating gencies will increase the country's borrowing costs and constrain its fiscal framework. The statement he made on Saturday emphasised on the the decision taken by these agencies to be a painful one. He also made a remark that there is an urgent need for South African government to implement structural economic reforms

  1 year ago ago
Tito Mboweni Says Rating Downgrade Will Raise Borrowing Costs

PERSONAL-INVESTING

Good news for SA rand

JOHANNESBURG - The rand expanded increases on Monday, spending the 18-month best came to on Friday as the money drew strength from rating organizations holding the country's FICO assessment and viewpoint at current levels. At 0650 GMT the rand was exchanging at 13.9350, up 0.3 percent against the dollar.

  1 year ago ago
Good news for SA rand

POLITICS

Double blow as Moody’s and Fitch both lower SA’s ratings further into junk

Is South Africa hitting rock bottom.ls a recovery possible. I think we all know that unless there is change of government, nothing good can happen...it won't Nandi, at this is such a beautiful country. One would think we had gained wisdom from what happened in Zim, but it doesn't seem so. My heart bleeds for our country and all that it has to offer to all. change of government is needed ASAP economy is bleeding weather ramaphosa is running investment conference the time is up he run a failed states  Its incredible

  1 year ago ago
Double blow as Moody’s and Fitch both lower SA’s ratings further into junk

BUSINESS

Latest: The country's credit downgrade further complicate fiscal consolidation and economic recovery

The country sank even deeper into the ocean this past week after Fitch and Moody's ratings agencies lowered the country's credit rating even further. Moody's did maintain the negative outlook on South African economy due to further predictions of the economy shrinking in South Africa's fiscal strength. Fitch joined Moody's by downgrading the country's credit rating to BB and also maintain its negative outlook based on the country’s mounting debt, low growth and extreme inequalities in the country. S&P poor

  1 year ago ago
Latest: The country's credit downgrade further complicate fiscal consolidation and economic recovery

ECONOMY-FINANCE

Latest: Painful downgrades will raise South Africa’s borrowing costs, says Finance minister Mboweni

Mzansi's Finance Minister Tito Mboweni said the latest credit ratings downgrades, by Fitch ratings and Moody's investments would potentially increase the country's borrowing costs and limits its fiscal options. Indeed the decision is very painful and there is a long way to go, said Minister Moboweni. There is an urgent need for the government of the country to implement an economic structural reform, so to avoid any further harm to the country sovereign rating, said by Tito Moboweni Finance Minister earlier

  1 year ago ago
Latest: Painful downgrades will raise South Africa’s borrowing costs, says Finance minister Mboweni

ECONOMY-FINANCE

Latest: Debt markets open again for sub-Saharan Africa, Fitch Ratings...

It has now been confirmed that debt markets for sub-Saharan Africa will be opened again, Ivory Coast, Ghana and Kenya may all tap international debt markets in 2021 and this was reported by Fitch ratings. The investment in the region have improved after the recent issue of R18.34 billion or $1.2 billion, even though weaker nations in the same region still will face a high funding costs than ever before the Covid-19 pandemic came into existence, that could discourage their markets return as reported by Fitch

  1 year ago ago
Latest: Debt markets open again for sub-Saharan Africa, Fitch Ratings...