South African President Jacob Zuma said the government must push for increased black ownership of the continent’s biggest economy, signaling his policy focus as he prepares for a second term in office.
A South African lawmaking committee agreed to revise draft laws to give the state has the right an unspecified share in all new oil and gas ventures at an “agreed price” or part of output, in addition to a previous provision handing it a free 20 percent stake the projects.
South African legislators said they plan to adopt changes to mining and oil laws before Parliament adjourns ahead of May 7 elections, overriding industry concern that the measures are ill-considered and will deter investment.
Hitachi Ltd. agreed to buy the stake in Hitachi Power Africa Ltd. held by the investment arm of South Africa’s ruling party after criticism that the shareholding constituted a conflict of interest as the unit has won business from state companies.
South African Finance Minister Pravin Gordhan aimed to appease investors and voters ahead of May 7 elections as he stuck to spending limits to reduce his budget deficit targets while trimming personal tax.
South African Finance Minister Pravin Gordhan cut his budget-deficit targets for the next three years as a weaker rand boosts tax revenue from exporters and the government pledges to stick to spending limits.
South African Finance Minister Pravin Gordhan may be forced to stick to budget targets in the face of credit downgrade threats and pressure on tax revenue, providing little support to the ruling party to woo voters before May 7 elections.
Sprawled on a faded black two-seater couch covered with cigarette burns, Eva Matthys, 72, is instructing her 13-year-old granddaughter on how to cook minced lamb -- for 12. That’s how many family members share the government-subsidized house in Brandvlei, a town in South Africa’s Northern Cape province.