China to invest nearly $15bn in SA
BusinessLive - Jul 24th 2018, 13:53
China will invest $14.7bn in SA, President Cyril Ramaphosa said on Tuesday, after talks between the two countries.
The news led to the rand firming 1%.
Speaking at the same event, Chinese President Xi Jinping said the world’s second-biggest economy would take active measures to expand imports from SA to support development in Africa’s most industrialised economy.
Ramaphosa has set a target of attracting $100bn in new investment in SA over five years, from local and foreign investors, to spur growth in an economy that is in danger of teetering into recession.
He returned from a trip to Saudi Arabia two weeks ago and announced SA had clinched the first R12bn of a promised $10bn in investment from the kingdom.
As the Financial Mail noted, he has raised $20bn from Saudi Arabia and the United Arab Emirates combined, mainly in energy and tourism; R850m from the UK; and R10bn from Mercedes-Benz to expand its East London manufacturing plant.Business Live
Load shedding threatens jobs, economic recovery, says consumer body
22/03/2019 - 13:31
Load shedding, which has been escalated to Stage 4, is posing a significant risk to economic recovery, the Consumer Goods Council of South Africa said in a statement, as rotational blackouts continued to grip the country.
Retail sales recover in January after dismal December figures
22/03/2019 - 09:23
Retail spending showed signs of recovery in January, growing 1.2% on an annualised basis, slightly faster than analysts had expected.
SA beef export market reopens to the Middle East
22/03/2019 - 08:23
The recently held Gulfood Trade Show 2019, which took place at the Dubai World Trade Centre, saw the reopening of beef trade between South Africa and the Middle East.
Mondelēz buys stake in functional food brand Uplift Food
20/03/2019 - 09:46
Mondelēz International has bought a minority stake in Uplift Food, an early-stage start-up that produces prebiotic functional food supplements.
Business counts cost as Eskom battles power shortages
20/03/2019 - 09:14
State utility Eskom will make more power cuts this week as it struggles with capacity shortages that threaten to stymie President Cyril Ramaphosa’s efforts to boost investments and economic growth.