King Goodwill Zwelithini and other traditional leaders are compiling a multi-billion rand land claim that could be South Africa’s largest to date, according to report.
“From what we have gathered thus far…[the area] goes outside the boundaries of the [KwaZulu-Natal] province to the Eastern Cape, Free State and part of Mpumulanga,” said Judge Jerome Ngwenya, chair of the Ingonyama Trust, which would help with the claim the City Press reported on Sunday. Read more
[Source: http://www.voanews.com/content/south-african-economy-hit-by-metalworkers-strike/1950810.html by Gillian Parker.]
A strike by 220,000 engineers and metalworkers has dealt major blow to South Africa’s economy.
The labor dispute has been marked by violent clashes between police and striking workers and reports of looting and intimidation by union members. Read more
[Source: http://www.bdlive.co.za/economy/2014/07/03/moodys-cautions-of-potentially-negative-credit-outcome-for-sa by Evan Pickworth.]
RATINGS agency Moody’s, which has SA on a negative outlook, cautioned on Thursday of a potential “credit negative” for the country after the latest round of labour action.
It said in the same release it would be closely monitoring the performance of Anglo American’s platinum division after a recent wage agreement in that sector, as higher wages and slow economic conditions could affect profits. Read more
There is little joy to be found in Sandton, the business and financial heart of South Africa. Although Sandton, a suburb abutting Johannesburg, may be the richest community in all of Africa, and perhaps one of the wealthiest in the world, the business leaders that meet daily here are worried about the nation’s future. Read more
After another electoral victory in South Africa, the ruling African National Congress (ANC)-South African Communist Party (SACP) regime plans to pursue what it calls the “radical second phase” of its ongoing revolution. Read more
57 700 000 (mid 2018 estimate)
4.5% y/y in May 2019 (CPI) & +6.4 y/y in May 2019 (PPI)
-3.2% q/q (1st quarter of 2019)
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