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February 2018
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Posts Tagged ‘Cyril Ramaphosa’
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February 5, 2018

Rand’s rally takes the shine off a strong gold price for SA miners

For South African gold miners, it’s both the best and worst of times.

The metal started the year with a bang, rising 4% so far and trading near the highest since August 2016.

But an equally impressive rally in the rand means that SA-focused producers are likely to miss out on the party.

Because mining companies pay most of their expenses in local currency, a stronger rand squeezes profit margins and can render some operations unprofitable.

Many of SA’s gold mines date back to the 1950s and 1960s, and much of the easily accessible metal has been exhausted, while labour-intensive mining methods compound the effect of currency moves.

“With the [...]

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January 19, 2018

Here’s what R100 buys you around the world right now

The rand is currently enjoying one of its longest winning streaks since 2002, with the currency trading at R12.37 to the dollar on Monday, 8 January.

Notably it has been on the front foot since December, supported by investors’ hopes that the newly elected leader of the ruling ANC, Cyril Ramaphosa, would push through business-friendly policies.

However, a Reuters poll held on Friday (5 January) found that the run is likely to end soon, with technical indicators now suggesting the rand is overbought.

There are also doubts about how much Ramaphosa, a promised reformer, can do for South Africa’s ailing economy, with the polled strategists saying that the rand is [...]

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October 30, 2017

Deputy President congratulates new WHO assistant Director General

The South African National AIDS Council (SANAC) Inter-Ministerial Committee (IMC), chaired by Deputy President Cyril Ramaphosa, has congratulated Dr Nono Simelela on her appointment as World Health Organisation (WHO) Assistant Director General.

Simelela will head the WHO Family, Women, Children and Adolescents Division from 13 November 2017.

Deputy President Ramaphosa and Health Minister, Dr Aaron Motsoaledi, commended Dr Simelela and wished her well in her new global role.

Simelela will assume her position under the leadership of WHO Director General Dr Tedros Adhanom Ghebreyesus, the first African in 69 years to be appointed head of the global health [...]

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September 26, 2017

Deputy President arrives in London for World Cup bid

Deputy President Cyril Ramaphosa arrived in London on Monday for the presentation of South Africa’s bid to host the 2023 Rugby World Cup.

“Deputy President Ramaphosa is supported by Sport and Recreation Minister Thulas Nxesi and Deputy Minister Gert Oosthuizen. The South African presentation will take place at the Royal Garden Hotel, Kensington, London, on Monday,” the Presidency said in a statement.

Ireland and France are the other contenders for the 2023 tournament that will take place 200 years after the invention, according to legend, of the game of rugby by William Webb Ellis.

The rugby delegation that is led by the Deputy President includes SA Rugby [...]

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