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South African economy

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  • Wednesday, 21 February, 2024
    South Africa to tap $8bn from foreign currency account to pay down debts

    Move comes ahead of a general election as the ruling ANC seeks to quell unease at its handling of the economy

    Enoch Godongwana
  • Sunday, 18 February, 2024
    South Africa central bank chief signals caution on rate cuts

    Lesetja Kganyago says inflation still poses risk even as other emerging markets start to loosen policy

    South African Reserve Bank governor Lesetja Kganyago
  • Friday, 8 December, 2023
    Eskom Holdings SOC Ltd
    South Africa’s struggling Eskom power utility appoints new chief

    Selection of Dan Marokane comes as electricity monopoly oversees record blackouts and deals with large debt burden

    Dan Marokane
  • Thursday, 16 November, 2023
    Ramaphosa government faces calls to tap foreign exchange gains to ease debt burden

    Hedge fund Amia Capital becomes latest body to float South Africa using central bank account as economy falters

    A view of the Pretoria city centre
  • Wednesday, 18 October, 2023
    How South Africa’s state rail network Transnet came close to the brink

    ‘Catastrophic’ problems at freight company mirror those of stricken Eskom power monopoly

    Goods trains at the port of Durban.
  • Friday, 29 September, 2023
    Departure of CEO adds to crisis at South Africa’s port and rail monopoly

    Transnet predicted to become ‘next Eskom’ as problems pile up at state transport group

    Portia Derby,
  • Thursday, 18 May, 2023
    David Pilling
    South Africa and the limits of having it both ways

    Pretoria wants to be both a democracy with a progressive constitution and a friend to dictators

    Cyril Ramaphosa wearing ANC green and gold in front of banners in the same colours
  • Thursday, 18 May, 2023
    South Africa
    Eskom chief warns South Africans to prepare for worst-ever blackouts

    Country told to expect a ‘difficult winter’ with outages that could last as long as 16 hours

    A local walks past electricity pylons during a power outage in South Africa
  • Wednesday, 17 May, 2023
    News in-depthSouth Africa
    South Africa’s flirtation with Moscow risks billions in US exports

    Diplomatic crisis over alleged arms shipments to Russia threatens Pretoria’s prized tariff-free trade access

    A worker stands on a platform as shipping containers stand stacked across the water in the port city of Durban
  • Friday, 7 April, 2023
    News in-depthSouth Africa
    ‘Everything is being stripped and stolen’: South Africa’s run-down city of gold

    Wealthy residents flee Johannesburg as it descends into lawlessness and infrastructural collapse

    A bus travels past a pile of burning rubbish in Johannesburg
  • Wednesday, 5 April, 2023
    South Africa backtracks on Eskom state of disaster

    Government withdraws permission for utility to avoid reporting irregular spending in face of public anger

    People walking past electricity pylons
  • Monday, 3 April, 2023
    Eskom Holdings SOC Ltd
    Eskom given financial statements exemption over credit rating fears

    South Africa’s finance minister says power utility need not disclose irregular spending for three years

    Eskom’s Lethabo coal-fired power station in Vereeniging
  • Monday, 20 March, 2023
    South Africa
    South African military deployed to prevent planned national shutdown

    Country’s radical opposition struggles to muster large numbers after calling for a day of protest

    Supporters of the Economic Freedom Fighters protest in Pretoria, South Africa
  • Tuesday, 7 March, 2023
    South Africa GDP shrinks 1.3% after power cuts strangle economy

    State of disaster declared as rolling blackouts cost $50mn a day, says central bank

    Power cuts submerge Johannesburg in darkness
  • Monday, 6 March, 2023
    South Africa
    Ramaphosa names new electricity minister in battle to beat power cuts

    Ramokgopa appointment comes after Eskom crisis causes outages of up to 12 hours a day

    Cyril Ramaphosa said that the new electricity minister would be given powers ‘to deal with the challenge of fragmentation of responsibility’
  • Sunday, 26 February, 2023
    News in-depthSouth Africa
    Eskom chief’s explosive interview exposes the ANC’s rotten core

    Rising frustration over pervasive corruption risks hurting South Africa’s ruling party at the polls

    A man places candles that he uses to light his shack during frequent power outages in South Africa
  • Wednesday, 22 February, 2023
    Eskom Holdings SOC Ltd
    South Africa expands public borrowing to relieve Eskom debt

    Finance minister says Pretoria will provide state power group with $14bn as rolling blackouts worsen

    Enoch Godongwana
  • Thursday, 9 February, 2023
    South Africa declares ‘national state of disaster’ over blackouts

    President says rolling power cuts ‘an existential threat to our economy and our social fabric’

    President Cyril Ramaphosa making his state of the nation address
  • Monday, 6 February, 2023
    Anglo American PLC
    Anglo American chief sounds alarm on South African infrastructure

    FTSE 100 miner’s Duncan Wanblad warns country’s economy under threat from ‘scourges’ of power cuts, broken logistics and corruption

    Anglo American chief executive Duncan Wanblad
  • Sunday, 1 January, 2023
    David Pilling
    Corrupt, failing Eskom is a picture of South Africa in miniature

    Without reliable power, the country cannot generate economic growth and overcome the festering legacies of apartheid

    Children read by paraffin light in Soweto. Eskom imposed at least 100 days of rolling blackouts last year
  • Wednesday, 26 October, 2022
    South Africa
    South Africa to transfer up to two-thirds of Eskom debt to government

    Finance minister says move will ensure long-term financial viability of state electricity monopoly

    South Africa’s finance minister Enoch Godongwana, pictured in Cape Town on Wednesday
  • Tuesday, 2 August, 2022
    South Africa hopes private sector can help end Eskom power crisis

    Renewable energy procurement will be increased under plan announced by president Cyril Ramaphosa

    People working at a sewing machine powered by a generator during a power outage
  • Monday, 25 July, 2022
    South Africa to open up power generation to tackle energy crisis

    Ramaphosa will seek private sector help and more renewable sources to deal with supply issues at state utility Eskom

    An Eskom power plant near Sasolburg, South Africa
  • Thursday, 21 July, 2022
    South Africa announces biggest interest rate rise in nearly 20 years

    The central bank increases cost of borrowing by three-quarters of a percentage point to tackle rising inflation

    Lesetja Kganyago is governor of the South African Reserve Bank
  • Tuesday, 10 May, 2022
    News in-depth
    Flash floods in ‘gateway’ port Durban add to South Africa’s economic woes

    Worst deluges in decades highlight crumbling infrastructure and exacerbate delays at flagship terminal

    The remains of a house at KwaNdengezi township outside Durban.
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