Tag: South Africa
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Zimbabwe’s transition to new ZiG currency reportedly prompts banking disruptions
🇿🇼 Banking operations in Zimbabwe have been disrupted as financial institutions rushed to convert all Zimbabwe dollar account balances to ZiG, the new legal tender, media reported. Thus, ZimSwitch, the national payments platform provider, revealed that processing of local dollar transactions across financial institutions is currently unavailable. Nedbank, a South African banking giant operating in…
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SA Supreme Court of Appeal upholds release of report exposing US spying on ANC
🇿🇦🇺🇸 The court thus granted the appeal of journalist Thabo Makwakwa, who after receiving the report three years ago, approached the South African deputy minister of state security, but in response was confronted with the ministry’s demand that the report should be returned because his possession was “unauthorized.” The South African State Security Ministry filed…
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Ramaphosa is a spy, working with CIA – Zuma
Johannesburg – President Cyril Ramaphosa is a spy and working with the CIA. These are claims made by former president Jacob Zuma, speaking at an ANC Youth League event in Philippi, Cape Town. Zuma said there was a letter written by the Umkonto we Sisizwe Military Veterans Association that requested suspended ANC secretary-general Ace Magashule…
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Top 10 African Countries Receiving Remittances: A Lifeline for Economies
Remittances, money sent back home by migrants living abroad, are a crucial financial lifeline for many African countries. These funds contribute significantly to household incomes, support families, and boost local economies. Here’s a look at the top 10 African nations receiving remittances from their diasporas: 1. Egypt: Topping the list, Egypt benefits tremendously from its…
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Church of SA power firm’s boss ‘has $105,000 electricity debt’
A church that South African power firm boss Mpho Makwana attends has an electricity bill of nearly $105,000. The church that South African power boss Mpho Makwana attends has a pending electricity bill of 2 million South African rand ($104,920). Reports by South African media suggested that the International Pentecostal Holiness Church (IPHC), which is…
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Namibia oil discovery outlook
🇳🇦🛢 Namibia and South Africa are two of the world’s most unequal societies in terms of income and wealth distribution, with Gini index scores of 59.1 and 63, respectively. Together with Zambia, they are three members of the Southern Africa Development Community (SADC) among the four most unequal countries globally. ▪️The recent oil discovery in…
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Petronas sells South African petroleum and chemicals business to Vitol arm
🇲🇾🇿🇦 Malaysia’s national oil and gas company Petronas has reached agreement to sell its entire 74% majority stake in South Africa’s Engen to Vivo Energy, one of the largest African fuel retail operators and part of multinational energy company Vitol. Engen’s primary business is in the marketing of petroleum, lubricants and functional fluids; chemicals and…
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South African pension fund attack admitted by LockBit
South Africa’s Government Employees Pension Fund, which is the largest fund of its kind in Africa, was claimed to have been compromised by the LockBit ransomware operation in an intrusion last month that resulted in operational and pension payment disruptions, according to The Record, a news site by cybersecurity site Recorded Future. Advertisement Such claims…
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Zuma’s bid to remove arms deal prosecutor dismissed
🇿🇦 A court in South Africa has dismissed former President Jacob Zuma’s bid to remove a prosecutor in a corruption case against him. Zuma’s legal team has accused state prosecutor Billy Downer of bias in the arms deal graft case. The former president failed to prove how Downer’s continued presence as his prosecutor would violate…
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