JOHANNESBURG- South Africa’s auditor general said on Wednesday that some of the money in its 500 billion rand COVID-19 relief package may have been fraudulently paid to improper beneficiaries. JOHANNESBURG- South Africa’s Impala Platinum Holdings Ltd on Thursday reported a nearly 400% jump in annual earnings boosted by higher metal prices and a weaker…
S.Africa’s $30 bln COVID-19 relief package exposed to fraud – auditor general
JOHANNESBURG (Reuters) – South Africa’s auditor general said on Wednesday that some of the money in its 500 billion rand ($30 billion) COVID-19 relief package may have been fraudulently paid to improper beneficiaries.
South Africa’s Impala Platinum annual earnings soar nearly 400%
JOHANNESBURG (Reuters) – South Africa’s Impala Platinum Holdings Ltd (Implats) on Thursday reported a nearly 400% jump in annual earnings boosted by higher metal prices and a weaker rand currency, despite the impact of the COVID-19 pandemic on output.
South African power cuts worsen on cold weather, breakdowns
JOHANNESBURG (Reuters) – South African state power utility Eskom said it would ramp up power cuts on Wednesday, as cold weather caused a spike in demand after many of its generating units had broken down.
South Africa’s Eskom says gross debt rose to $29.3 bln as of March
JOHANNESBURG (Reuters) – South African state power utility Eskom’s gross debt increased to 488 billion rand ($29.3 billion) as of March 2020, from 440 billion rand a year earlier, the firm said in a presentation to parliament on Wednesday.
South Africa’s rand weaker as fiscal, political risks back on investors’ radars
JOHANNESBURG (Reuters) – South Africa’s rand weakened early on Wednesday, giving back some of the gains from the previous session as investors pocketed profits from the risk-on rally, while hopes over easing tensions inside the ruling party faded.
Mauritius central bank revokes Century Banking Corp’s licence
NAIROBI (Reuters) – Mauritius’ central bank has revoked the banking licence of Century Banking Corporation Ltd, it said on Wednesday, without stating the reasons for the move.
S.Africa’s Libstar posts lower half-year profit on expenses linked to COVID-19
JOHANNESBURG (Reuters) – South African food producer Libstar Holdings Ltd on Wednesday reported a 17.7% drop in half-year earnings, hit by expenses related to the COVID-19 pandemic.
South African state firms request bailouts over COVID-19
South African state companies have requested billions of rand in funding from the government to help them weather the impact of the coronavirus crisis, a finance ministry presentation to parliament showed on Tuesday.
South African state arms firm at risk of bankruptcy protection, govt says
South African state arms firm Denel faces the risk of being placed under a local form of bankruptcy protection called business rescue or even liquidation, the National Treasury said on Tuesday.
Morocco’s trade deficit shrinks 18.2% year/year
RABAT (Reuters) – Morocco’s trade deficit shrank by 18% to 100 billion dirhams ($11 billion) in the first seven months of 2020, the foreign exchange regulator said on Tuesday.
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