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South Africa – SADC
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August 17, 2018

THE RAND IN RECOVERY MODE!

The lira, the world’s worst performer this year, and South Africa’s rand led the advance as some investors say Turkey’s problems are unique and others look for buying opportunities across emerging markets, writes Bloomberg.

The rand was nearly 2.5% stronger in morning trade against the dollar on Tuesday, after sliding as much as 9.4% on Monday – the most since October 2008.

Bloomberg reported some analysts saying that there are few fundamental reasons for assets across emerging markets to fall because of the lira. Turkey’s problems stem from president Recep Tayyip Erdogan’s standoff with the US administration.

With average inflation rates at record lows and [...]

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August 17, 2018

RAMAPHOSA’S SON MARRIES IN UGANDA

President Cyril Ramaphosa’s son Andile was introduced by his Ugandan fiancee, Bridget Birungi, at a traditional marriage ceremony known as kuhingira in Uganda on Saturday.

The ceremony attended by high-profile guests was held at the residence of the bride’s uncle, John Patrick Amama Mbabazi, a former prime minister of Uganda in the leafy upscale Kololo suburb in the capital, Kampala.

Mbabazi, who handed over Birungi to the father of the groom, expressed joy that Ramaphosa’s family had met all the set conditions.

“We would like to thank you for being trustworthy, for being dependable because you fulfilled the conditions. So, we are very [...]

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August 7, 2018

SA ECONOMY REQUIRES RIVALRY

Ana Lucía Coronel, who heads the IMF team for South Africa, said: “The recommendation of IMF staff is to increase competition in all sectors, so that more private companies, domestic and foreign, could invest and compete in the production of services – not only in telecommunications, but also in energy, transport, and other sectors”.

The IMF also said that the use of technology still has a long way to advance in South Africa, given the potential of the economy.

The lender said the cost of internet in the country is high and the quality is low, because there are very few competitors.

South Africa’s economy is known to be characterised by high levels of [...]

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August 1, 2018

R1.6M TO KICKSTART QUARTZ MINING IN SA

The Lancaster Foundation, a nonprofit company created by Lancaster Group, said on Friday it would provide a R1.6 million grant to Difeme, the investment company established by trade union Fedusa, to help kickstart a quartz mining and beneficiation hub in the Northern Cape.

 

It said Difeme had partnered with state-owned mineral and mining research centre Mintek to develop the appropriate technologies to process the quartz to the valuable purity standard of greater than 99.99% purity.

“By supporting Difeme’s bankable feasibility study, the Lancaster Foundation is contributing to a venture that could bring significant economic development benefits to South [...]

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