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JPMorgan analysts see the rand now as 9 to 11% ‘rich’. Businessman Cyril Ramaphosa, the new leader of South Africa’s ruling ANC party, needs to fix a sluggish economy and a deeply divided society. Market euphoria after his election may not reflect the looming slog, fund managers say. The outcome,…
ANC’s new leader targets 3% growth by 2018; 5% by 2023. After winning a bruising battle for control of South Africa’s ruling party, Deputy President Cyril Ramaphosa now faces an even more daunting task: rebuilding an economy battered by years of misrule, corruption and the appointment of incompetent officials. Ramaphosa…
Ruling-party election results due to be announced on Monday. South Africa’s rand fluctuated near a three-month high against the dollar and bond yields fell as traders bet Cyril Ramaphosa is poised to become the next leader of the ruling African National Congress. Ramaphosa, one of the wealthiest black South Africans,…
Currency up 1.41% to 13.30 Traders view court ruling disqualifying North West branches as positive for Cyril Ramaphosa. Picture: Shutterstock South Africa’s rand firmed nearly one-and-a-half percent on Friday on a court ruling affecting delegates set to take part at a conference of the African National Congress and investors cutting…
Funds to be used to recapitalise SAA and Post Office. South Africa is seeking to raise as much as R4 billion ($297 million) from the sale of part of its 39% stake in Telkom to raise funds for the country’s unprofitable state airline and post office, according to two people…
Investment advisor writes an open letter to the CEO. NASPERS-NNASPERS-N09:0010:00334033803420Highcharts.com Open: R3,370.00 52wk high: R4,090.00 52wk low: R1,935.54 Volume: 308,682 Bid: R3,362.69 Offer: R3,364.91 Albert Saporta, director of Geneva-based investment advisory firm AIM&R, has sent a second open letter to Naspers CEO Bob Van Dijk.  Albert Saporta a director of…