South African Defense Minister Nosiviwe Mapisa-Nqakula said the deployment of troops to help end conflicts and promote peace on the continent in the past 16 years has put the department under financial strain.
A labor dispute that all but shut platinum mines in South Africa since January is extending the longest shortfall in global production since 2005, which Morgan Stanley predicts will take at least four years to fix.
John Oliphant, suspended as head of South Africa’s 1.2 trillion-rand ($114 billion) Government Employees Pension Fund over the award of an advertising contract, disputed the findings of an auditor’s report that he acted irregularly.
South Africa’s central bank fined the country’s four largest lenders a total of 125 million rand ($11.9 million) after finding deficiencies in their controls to combat money laundering and terrorist financing.
The 12-week strike that’s halted most South African mines of the three biggest platinum producers will continue as long as the companies refuse to improve offers, the leader of the union calling the stoppage said.
Paralympian Oscar Pistorius returns to the witness stand today after prosecutor Gerrie Nel accused him of changing his defense argument and altering his testimony in the trial for the killing of his girlfriend Reeva Steenkamp.