<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="546" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/47144916191_c570c7104f_b-820x546.jpg" alt="" class="wp-image-404903" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/47144916191_c570c7104f_b-820x546.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/47144916191_c570c7104f_b-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/47144916191_c570c7104f_b-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/47144916191_c570c7104f_b.jpg 1024w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Minister Lindiwe Sisulu Photo: via Flickr</figcaption></figure>



CAPE TOWN, May 25 (Reuters) – South Africa’s Trans-Caledon Tunnel Authority (TCTA) has raised just over 15 billion rand ($1.09 billion) in capital markets to continue construction of the Lesotho Highlands water project, the minister of water and sanitation said on Tuesday.



The state-owned TCTA needed guarantees from the National Treasury before it could raise the private funding for the project which is designed to improve water access for millions of people in South Africa’s economic heartland in Gauteng province.



“So, we have the resources, we have the guarantees and now we can assure you that we will be hard at work to provide water security,” minister Lindiwe Sisulu told lawmakers.



In March the TCTA said delays by the treasury, which were due to tightening conditions for support for state-owned entities, were putting pressure on the TCTA as it looked to raise 33 billion rand in 2021.



Years of hot weather in water-scarce South Africa, coupled with a lack of investment and inadequate maintenance of infrastructure has led to increasing dependence on the tiny mountain kingdom of Lesotho to augment water supplies to Africa’s most industrialised country.



The $1 billion raised with allow for the completion of phase 2 of the Lesotho Highlands water project, which involves the construction of a series of dams, Sisulu said.



She added that the TCTA has projects worth 68 billion rand designed to increase water delivery across the country’s major cities.



($1 = 13.8226 rand) 



(Reporting by Wendell Roelf; editing by Mfuneko Toyana and Jason Neely)

Minister Lindiwe Sisulu

South Africa’s TCTA raises $1 bln for Lesotho water project

<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/45482233232_68671893d0_k-820x586.jpg" alt="" class="wp-image-402718" width="837" height="598" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/45482233232_68671893d0_k-820x586.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/45482233232_68671893d0_k-300x214.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/45482233232_68671893d0_k-768x549.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/45482233232_68671893d0_k-1536x1097.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/45482233232_68671893d0_k.jpg 2048w" sizes="auto, (max-width: 837px) 100vw, 837px" /><figcaption>Botswana President Mokgweetsi Masisi Photo: via Flickr</figcaption></figure>



GABORONE, April 28 (Reuters) &#8211; A Southern African leaders meeting that was scheduled for Thursday to address the Islamic State-linked insurgency in Mozambique has been postponed, Botswana President Mokgweetsi Masisi&#8217;s office said on Wednesday.



The meeting was to receive a report from a team sent to Mozambique to assess the security situation and identify ways to support the country after IS-linked insurgents attacked the coastal town of Palma, displacing tens of thousands of people and stalling a $60 billion natural gas project.



The gas project by French oil major Total is meant to transform the economy of one of Africa&#8217;s poorest countries.



The meeting was put off due to the unavailability of the Botswana and South African presidents, Masisi&#8217;s office said.



Botswana, South Africa, Zimbabwe and Mozambique form a division of the Southern African Development Community (SADC) that wants to decide how to help Mozambique&#8217;s northern Cabo Delgado province against Islamist militant attacks there.



Botswana is the current chair of the SADC division, which is tasked with promoting peace and security in the region.



Masisi went into self-quarantine on Tuesday after the detection of a case of COVID-19 among his staff, while South Africa&#8217;s Cyril Ramaphosa is giving testimony to an inquiry into corruption under his predecessor Jacob Zuma.



The insurgency broke out in Mozambique&#8217;s northeast in 2017 and the rebels have stepped up attacks in the past year.



A report by ratings agency S&amp;P Global said militant attacks in Mozambique&#8217;s Cabo Delgado province pose a &#8220;significant threat&#8221; to production facilities associated with one the biggest natural gas discoveries in the world. 



(Reporting by Brian Benza Editing by Promit Mukherjee and Mark Heinrich)

45482233232_68671893d0_k

Southern African leaders postpone meeting on Mozambique insurgency

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="523" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/2021-04-01T061444Z_1_LYNXMPEH302CA_RTROPTP_4_NASPERS-SAFRICA-820x523.jpg" alt="" class="wp-image-400645" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/2021-04-01T061444Z_1_LYNXMPEH302CA_RTROPTP_4_NASPERS-SAFRICA-820x523.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/2021-04-01T061444Z_1_LYNXMPEH302CA_RTROPTP_4_NASPERS-SAFRICA-300x191.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/2021-04-01T061444Z_1_LYNXMPEH302CA_RTROPTP_4_NASPERS-SAFRICA-768x490.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/2021-04-01T061444Z_1_LYNXMPEH302CA_RTROPTP_4_NASPERS-SAFRICA-1536x980.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/2021-04-01T061444Z_1_LYNXMPEH302CA_RTROPTP_4_NASPERS-SAFRICA.jpg 1737w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>PHOTO: Naspers logo. REUTERS/Siphiwe Sibeko</figcaption></figure>



JOHANNESBURG, April 1 (Reuters) &#8211; Africa&#8217;s largest company, Naspers Ltd, has hired a top Airbnb and former Amazon executive to lead its global online classifieds business, it said on Thursday, as the technology investor looks to shore up contributions from core businesses.



The company&#8217;s online classifieds business, clubbed under OLX Group, contributes 5% to overall revenues and is the biggest among an array of businesses such as payments and fintech, food delivery and education technology.



However, its size is largely overshadowed by Naspers&#8217; blockbuster investment in Chinese tech giant Tencent Holdings , which owns China&#8217;s biggest messaging app, WeChat, and accounts for more than three-fourths of its revenues.



Romain Voog, who was the vice president for worldwide sales operation and geographies at Airbnb, has joined Prosus NV from April 1 as the chief executive officer of OLX Group, it said in a statement.



Prosus is a Naspers subsidiary that houses all of its overseas assets including Tencent and online classifieds business, which is spread across 30 countries.



Voog was the president of Amazon&#8217;s operations in France before his stint at Airbnb. He takes over from Martin Scheepbouwer, who led OLX Group for nine years, the company said.



&#8220;His (Voog&#8217;s) experience inside customer-centric organisations such as Amazon and Airbnb will be an asset to OLX Group as we drive customer-centric innovation in the world of classifieds,&#8221; said Bob van Dijk, CEO of Prosus and Naspers, in an emailed response to Reuters. 



(Reporting by Promit Mukherjee; Editing by Steve Orlofsky)

Naspers logo is seen in Johannesburg

S.Africa’s Naspers hires Airbnb, Amazon veteran to lead global classifieds business

JOHANNESBURG, March 24 (Reuters) &#8211; South Africa will decrease the amount of debt on sale at its weekly long term and inflation-linked bond auctions by 2.6 billion rand ($175 million) as of next week following better-than-expected revenue collection in 2020.



&#8220;The fixed-rate government bond auction amount will be decreased by nominal R1,800 million from R6,600 million to R4,800 million, effective from auction to be conducted on 30 March 2021,&#8221; the National Treasury said in a market announcement late on Tuesday.



The weekly amount of inflation-linked bonds on offer would be reduced to 1.2 billion from 2 billion previously, said treasury. The fixed-rate non-competitive bond auction amount will be 50% of the new auction levels.



In May last year, at the height of the COVID-19 pandemic, treasury upped weekly auctions by nearly 2 billion rand to cover a budget deficit seen increasing sharply due to the coronavirus stimulus package announced by President Cyril Ramaphosa.



Government also raised $5.6 billion through loans from international lenders like the International Monetary Fund (IMF) and others.



The budget in February, however, showed revenue collections had outpaced projections by around 100 billion rand, especially towards the end of 2020 as booming global commodity prices lifted mining activity.



National Treasury said it would use the resulting increase in government’s cash balances to reduce borrowing level.



In February the treasury&#8217;s head of debt said the department was concerned about &#8220;concentration risk&#8221; and a banking sector squeeze.



Most of the new debt issued was short-dated instruments, bought up largely by local banks and asset managers hungry for liquid and high rated bonds to use as a buffer against pandemic related losses.



($1 = 14.8685 rand) (Reporting by Mfuneko Toyana; Editing by Toby Chopra)



(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html

Waldo Swiegers | Bloomberg | Getty Images

South Africa’s treasury reduces weekly debt auctions by $175 mln

South African President Cyril Ramaphosa says resolving the energy challenges in the country is not just urgent but fundamental to economic recovery.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932.jpeg" alt="" class="wp-image-392105" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932-150x84.jpeg 150w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932-696x391.jpeg 696w" sizes="auto, (max-width: 740px) 100vw, 740px" /></figure>



CAPE TOWN, March 22 (ANA) – Solving the energy challenges in South Africa and power utility, Eskom’s ability to produce enough electricity to meet the demand is fundamental for the country’s economic recovery, President Cyril Ramaphosa said on Monday.



“Resolving our energy challenges isn’t just urgent; it is fundamental to South Africa’s economic recovery,” Ramaphosa wrote in his weekly letter.



“That is why we are making every effort to bring new power generation capacity online in the shortest possible time.”



Power utility Eskom said it was forced to resume rotational powercuts on March 10, due to its generation capacity being severely constrained.



At the time, Eskom said continued poor performance at its Kusile, Duvha and Tutuka power stations, and delays in returning some other units to service and breakdowns over the last week had caused the need to implement this loadshedding.



The utility supplies the bulk of South Africa’s electricity, but has struggled to meet demand over the last decade, mainly as a result of its generating units frequently breaking down after years of poor maintenance.



On Monday, Ramaphosa said for more than a decade the electricity shortage has been a problem and that economic activity has been severely interrupted every time there is a power cut.



He said the interruptions affected smaller businesses and large industries.



“Over the years, it has contributed to slow economic growth and weak investor confidence.”



Ramaphosa said that a step forward was the announcement by Mineral Resources and Energy Minister, Gwede Mantashe, of companies that had successfully bid to supply 2,000 megawatts of emergency power to address the capacity gap.



“The power will be produced from a range of sources including solar, wind, liquefied natural gas and battery storage. These projects will involve an investment of around R45 billion by the private sector,” Ramaphosa said.



“Around half of all the materials used in the construction will be locally sourced. The projects should be providing power to the nation by August next year.”



Ramaphosa said that government last week released a request for proposals for the procurement of a further 2,600 megawatts of renewable energy.



This would be the fifth ‘bid window’ to buy renewable energy from independent power producers in a programme that has led to “significant private investment in the country’s energy infrastructure”, he said.



Ramaphosa said the South African government planned to over the course of the next year release four more requests for proposals for new power generation projects – in renewable energy, gas, coal and battery storage respectively.



“These projects would be expected to provide over 7,000 megawatts of electricity. These new sources of electricity are vital to ensure a reliable supply of energy into the future,” he said.



Most of Eskom’s 15 coal-fired power stations are more 40-year-old and are prone to breakdowns. The power utility also has one nuclear-powered power station and nine smaller stations that run on a combination of diesel, pumped storage and hydroelectricity.



“In addition, much of the necessary maintenance on these plants was neglected for many years. Eskom estimates that breakdowns consume as much as a fifth of our electricity capacity,” he said.



“That is why, as we build this new generation capacity, Eskom is working to ensure that it undertakes the planned maintenance of its plants,” Ramaphosa said.



“While this may mean load shedding in the immediate term, better maintenance will lead to improved plant performance in the medium term and to greater stability in supply.”



Ramaphosa said that Eskom is steadily being restored to technical, operational and financial viability – this while the country’s electricity system was being made more efficient and competitive.



– African News Agency (ANA), Editing by Devereaux Morkel

105500770-1539253589126gettyimages-909184932

Resolving Energy Challenges “Fundamental” For Economic Recovery, Says Ramaphosa

JOHANNESBURG, Feb 23 (Reuters) &#8211; A group of South African Uber drivers are to go to court to seek rights including compensation for unpaid overtime and holiday pay, their lawyers said on Tuesday, hoping for a similar victory to that of British drivers this month.



In both Britain and South Africa, Uber drivers are treated as self-employed, affording them only minimal protections in law &#8211; a status the U.S. ride-hailing company sought to maintain in its long-running UK legal battle.



That ended last week when Britain&#8217;s Supreme Court ruled that a group of 25 drivers were entitled to worker rights such as the minimum wage.



While Uber said the decision did not apply to all its 600,000 drivers in the country, it was blow to the company&#8217;s business model and a significant victory in battles being fought on many fronts against the so-called gig economy.



While businesses say that the gig economy offers flexibility for workers, trade unions among others say it is exploitative.



In November, however, Uber saw off a challenge in its home market of California, where voters backed a ballot proposal that cemented app-based food delivery and ride-hail drivers&#8217; status as independent contractors rather than employees.



The South African case could affect up to 20,000 drivers, British law firm Leigh Day and Johannesburg-based peer Mbuyisa Moleele Attorneys said in a statement. They did not specify when the case would be filed.



Richard Meeran of Leigh Day, which represented the British Uber drivers, said that case marked a final vindication for drivers who had been denied their statutory employment rights for too long.



&#8220;We hope that this class action in South Africa will enable South African Uber drivers to access those same rights,&#8221; he said.



Uber did not immediately respond to an emailed request for comment.



The law firms pointed out that in South Africa Uber drivers often do not own their own cars and have to work long hours to make ends meet on their current wages.



(Reporting by Emma Rumney Editing by David Goodman)



(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html

Ride sharing.

S.African Uber drivers join global push for worker rights -lawyers

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="590" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1156441912-820x590.jpeg" alt="" class="wp-image-397974" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1156441912-820x590.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1156441912-300x216.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1156441912-768x553.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1156441912-1536x1106.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1156441912-scaled.jpeg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption> Former South African president Jacob Zuma arrives to appear before the Commission of Inquiry into State Capture that is probing wide-ranging allegations of corruption in government and state-owned companies in Johannesburg, on July 19, 2019. (Photo by MIKE HUTCHINGS / POOL / AFP) (Photo by MIKE HUTCHINGS/POOL/AFP via Getty Images)</figcaption></figure>



JOHANNESBURG, Feb 22 (Reuters) &#8211; A South African inquiry into corruption during Jacob Zuma&#8217;s time in power is seeking the former president&#8217;s imprisonment for two years, after he defied a summons and court order to appear and give evidence.



In an application in the constitutional court seen by Reuters, the &#8220;state capture&#8221; inquiry is seeking an order that Zuma is guilty of contempt of court for not turning up last week or providing affidavits when instructed to do so.



The inquiry is examining allegations of high-level graft during Zuma&#8217;s period in power from 2009 to 2018.



Zuma denies wrongdoing and has not cooperated with the inquiry. His no-show last week came despite the inquiry summoning him to appear and the constitutional court directing him to comply with that summons and give testimony.



Zuma&#8217;s lawyer Eric Mabuza was not available when called by Reuters seeking comment.



The allegations against Zuma include that he allowed businessmen close to him &#8211; brothers Atul, Ajay and Rajesh Gupta &#8211; to plunder state resources and influence policy.



The Guptas, who also deny wrongdoing, left South Africa after Zuma was ousted in a move orchestrated by allies of his successor Cyril Ramaphosa.



Ramaphosa has been trying to restore investor confidence in Africa&#8217;s most industrialised nation. However, he has faced opposition from a faction within the governing African National Congress party that is still loyal to Zuma. (Reporting by Alexander Winning Editing by Mark Heinrich)



(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html

TOPSHOT-SAFRICA-POLITICS-CORRUPTION-INVESTIGATION

South African corruption inquiry wants Zuma jailed for 2 years after no-show

RUSTENBURG, February 15 (ANA) – Zimbabwe will start vaccinating people against Covid-19 this week, President Emmerson Mnangagwa said on Monday.



“The first batch of vaccines for Zimbabwe has been successfully delivered. We start vaccinating Zimbabweans this week! The faster our country is protected against this virus, the faster Zimbabwe’s economy can flourish. God bless you all, God bless Zimbabwe,” he said on his Twitter account.



The president’s tweet followed the arrival of 200,000 doses of the Sinopharm vaccine from China. The consignment arrived on Monday morning around 3am.



The country is expected to buy more than one million vaccine doses from China later in the year.



Zimbabwe has recorded 35,172 infections, 1,400 deaths and 30,601 recoveries.



It is the first southern African country to roll out the vaccine after neighbouring South Africa suspended the roll-out of the AstraZeneca vaccine which arrived on February 1.



The roll-out was suspended after a clinical trial showed the doses were ineffective against the new 501.V2 variant of Covid-19 first detected in South Africa.



Malawian President Lazarus Chakwera said during his weekly Covid-19 update address on Sunday that the country was expecting its first batch of the AstraZeneca vaccine later this week and health workers would be the first to be inoculated against Covid-19. Another batch was expected at the end of February.



Eswatini was expecting 108,000 doses of the AstraZeneca vaccine later in February, but Health Minister Lizzie Nkosi said last week that the country would no longer used the vaccine following its reported shortcomings against the 501.V2 variant.



The country would instead enter into talks with other suppliers.



Namibia was also expecting to receive its first batch of the Covid-19 vaccine doses in February.



– African News Agency (ANA); Editing by Yaron Blecher

President Mnangagwa Holds Press Conference After The Death Of Robert Mugabe

Zim To Start Covid-19 Vaccine Roll-Out This Week

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/01/106818378-1609762915593-gettyimages-1230343590-AFP_8XW239.jpeg" alt="" class="wp-image-394478" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/01/106818378-1609762915593-gettyimages-1230343590-AFP_8XW239.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2021/01/106818378-1609762915593-gettyimages-1230343590-AFP_8XW239-300x169.jpeg 300w" sizes="auto, (max-width: 740px) 100vw, 740px" /><figcaption>A patient with the Covid-19 breaths in oxygen in the Covid-19 ward at Khayelitsha Hospital, about 35km from the centre of Cape Town, on December 29, 2020. RODGER BOSCH | AFP | Getty Images</figcaption></figure>



A variant of the coronavirus identified in South Africa is more problematic than the mutation found in the U.K., Britain’s health minister said Monday, as both strains spread rapidly.



Health Secretary Matt Hancock told the BBC the variant found in South Africa was especially concerning.



“I’m incredibly worried about the South African variant, and that’s why we took the action that we did to restrict all flights from South Africa,” he told the BBC’s “Today” program.



“This is a very, very significant problem &#8230; and it’s even more of a problem than the U.K. new variant.”



Both countries are struggling with a surge in Covid-19 infections, which have been attributed in large part to mutations in the virus <a href="https://www.gov.uk/government/news/covid-19-sars-cov-2-information-about-the-new-virus-variant" target="_blank" rel="noreferrer noopener">that make it more transmissible</a>.



The U.K.’s new variant was first identified in Kent, southeast England, in December. The U.K. authorities alerted the World Health Organization to its emergence.



Experts note that while the new variant spreads more easily, it does not appear to make it deadlier. Nonetheless, the U.K.’s hospitals are under pressure from a dramatic rise in infections and admissions.



<h2 class="wp-block-heading" id="h-vaccine-effectiveness">Vaccine effectiveness &nbsp;</h2>



Questions have been raised over how the coronavirus vaccines will work against the new variants.



Several experts have said they expect vaccines — such as those from Pfizer and BioNTech, and the Oxford University/AstraZeneca — to protect against the new strains.



Earlier in December, WHO chief scientist Dr. Soumya Swaminathan tried to allay fears over the variants, telling the BBC it was “very unlikely” that the latest mutations would cause the current vaccines not to work. The WHO has said further investigations are required “to understand the impact of specific mutations on viral properties and the effectiveness of diagnostics, therapeutics and vaccines.”



Dr. John Bell of Oxford University said Sunday the variant identified in South Africa was worrisome in this regard, however.



“They both have multiple, different mutations in them, so they’re not a single mutation,” he told Times Radio. “And the mutations associated with the South African form are really pretty substantial changes in the structure of the (virus’ spike) protein.”



He said there were questions as to whether the Pfizer/BioNTech and Oxford University/AstraZeneca vaccines would be “disabled” in the presence of such mutations.



The team behind the Oxford University inoculation was investigating the effect of the variants on its vaccine, he said, adding that his gut feeling was that it would still be effective against the strain identified in the U.K., but he was more uncertain about the one identified in South Africa.



However, he told the radio station that if the vaccine did not work on this variant, then it was likely the vaccines could be adapted and that would not take as long as a year.



<h2 class="wp-block-heading" id="h-more-lockdowns">More lockdowns</h2>



Coronavirus vaccines are the only bright spot in a pandemic that continues to rage in the West. On Monday, the U.K. began its rollout of the Oxford-AstraZeneca vaccine after starting to deploy the Pfizer/BioNTech shot in December.



In the meantime, restrictions on public life continue and the U.K.’s Prime Minister Boris Johnson has hinted that more restrictions could be introduced in England. Many parts of the country are already effectively under lockdown, with all but essential shops closed and people told to stay at home as much as possible. Still, further restrictions could be introduced in parts of the country with more relaxed measures.



The U.K. has now recorded over 2.6 million cases of the virus, and over 75,000 deaths to date, according to a tally from Johns Hopkins University, and the new variant has prompted a surge in infections in London and the South East and is starting to appear in other parts of the country.



In South Africa, over 1.1 million cases have been recorded, and almost 30,000 deaths.&nbsp;<a href="https://www.who.int/csr/don/31-december-2020-sars-cov2-variants/en/" target="_blank" rel="noreferrer noopener">The new strain has become dominant in the Western Cape, Eastern Cape and KwaZulu-Natal.</a>



The variant originally identified in the U.K. has also been discovered in some European countries and the U.S., prompting many nations to ban flights from the U.K. For its part, the U.K. has banned visitors from South Africa.

106818378-1609762915593-gettyimages-1230343590-AFP_8XW239

Covid variant in South Africa is ‘more of a problem’ than the one in UK, official says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932.jpeg" alt="" class="wp-image-392105" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932-150x84.jpeg 150w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932-696x391.jpeg 696w" sizes="auto, (max-width: 740px) 100vw, 740px" /><figcaption>President Cyril Ramaphosa during a pre-World Economic Forum breakfast briefing on January 18, 2018 in Johannesburg, South Africa.</figcaption></figure>



CAPE TOWN (Reuters) &#8211; South Africa’s lower house of parliament will vote on a motion of no-confidence in President Cyril Ramaphosa next week, the parliament said on Thursday, but the motion has little chance of succeeding.



The vote was requested by a small opposition party, the African Transformation Movement (ATM), which has only two seats in the 400-member National Assembly.



The parliament said in a statement that the vote would happen on Thursday, Dec. 3, by open ballot. Secret ballots can be held when the political atmosphere is deemed toxic.



The ATM’s leader did not respond to a Reuters request for comment about why his party wanted the no-confidence vote.



A spokeswoman for the parliamentary caucus of the governing African National Congress (ANC) party, which Ramaphosa leads and which has 230 seats in the National Assembly, declined to comment.



Ramaphosa’s spokesman did not answer his phone.



Ramaphosa has been head of state since February 2018 and has been trying to revive investor confidence in Africa’s most industrialised economy.



He has found it hard-going given infighting in the ANC and the weak state of public finances.



His predecessor, Jacob Zuma, survived many no-confidence votes before being ousted by Ramaphosa’s allies in the ANC executive, who believed scandals during Zuma’s nine-year tenure were damaging the reputation of the liberation movement of Nelson Mandela.



According to the constitution, a motion of no confidence in the president needs to be supported by a simple majority in the National Assembly to pass.



The largest opposition party, the Democratic Alliance, said it did not support the ATM motion. The Economic Freedom Fighters, the second-largest opposition group, said it would respond later.



Additional reporting by Lynette Ndabambi; Editing by Angus MacSwan and Nick Zieminski

South Africa’s Ramaphosa faces no-confidence vote next week

The COVID-19 crisis is one of many indicators that we live in dangerous and uncertain times. Others include the international community’s struggle to respond to technological and climate change, demographic shifts, growing poverty and inequality as well as increased global insecurity.



The global governance arrangements for managing these changes are no longer fit for purpose. Take the decision making procedures in the&nbsp;<a href="https://www.un.org/securitycouncil/">UN Security Council</a>&nbsp;and the International Monetary Fund&nbsp;<a href="https://www.imf.org/external/index.htm">(IMF)</a>. They don’t account for the growing importance of developing countries. Nor do they meaningfully accommodate non-state actors such as transnational corporations and civil society groups.



These changes are pushing countries to reassess how they use foreign policy to serve their national interests. A recently published book,&nbsp;<a href="https://www.pulp.up.ac.za/edited-collections/values-interests-and-power-south-african-foreign-policy-in-uncertain-times">Values, Interest and Power: South African Foreign Policy in Uncertain Times</a>, contributes to such a reassessment in South Africa. The book was co-edited by foreign relations expert Elizabeth Sidiropoulos and me.



In the book, a group of senior and junior South African authors offer suggestions on how the country can formulate and implement a foreign policy that responds to a changing global world.



We maintain that foreign policy making should be guided by the national interest. The South African&nbsp;<a href="https://www.justice.gov.za/legislation/constitution/SAConstitution-web-eng.pdf">constitution</a>&nbsp;provides important guidance on this. This is because it’s a product of the country’s history, politics and culture. It expresses its values and aspirations.



On foreign policy, it allocates responsibilities and authority among the different branches of government. It also instructs relevant government authorities to base their foreign policy on the values expressed in the&nbsp;<a href="https://www.justice.gov.za/legislation/constitution/SAConstitution-web-eng-02.pdf">bill of rights</a>.



Subject to these constraints, policy makers are free to determine foreign policy priorities according to their view of the country’s economic, geo-strategic, political, cultural, environmental and security interests.



<h2 class="wp-block-heading" id="h-recommendation">Recommendation</h2>



The book concludes with some recommendations for South Africa’s foreign policy makers.



First, foreign policy should:



<ul class="wp-block-list"><li>contribute to implementing the domestic economic and social transformation agenda,</li><li>be consistent with the values and governance arrangements set out in the constitution,</li><li>position South Africa to be a norm entrepreneur in global affairs. This means pursuing creative and principled solutions to global issues,</li><li>advocate reforms to global governance arrangements so that they become more responsive to the concerns of the global South. And become more accountable.</li></ul>



Secondly, we recommend changing the way which foreign policy is designed. The Presidency should establish an inter-agency coordinating council that can formulate a coherent and effective foreign policy. The&nbsp;<a href="http://www.dirco.gov.za/department/index.html">Department of International Relations and Cooperation</a>&nbsp;should then lead implementation.



Our third recommendation is that Parliament and the&nbsp;<a href="https://www.justice.gov.za/legislation/constitution/SAConstitution-web-eng-09.pdf">Chapter 9 institutions</a>&nbsp;should play a role in foreign policy making. These institutions support the country’s constitutional democracy. For example, the&nbsp;<a href="https://www.sahrc.org.za/">Human Rights Commission</a>&nbsp;could issue an annual report assessing how effectively the government has used international relations to advance human rights at home.



In addition, there should be an annual meeting with these bodies to discuss the government’s foreign policy objectives for the year ahead. This could be run by the executive through the Presidency or the foreign relations department.



Fourthly, we recommend that a concerted effort be made to ensure that foreign service staff have the technical and language skills to deal with the expanding range of issues facing the country on the global arena. Equally important, they should also understand the links between domestic social and economic transformation and foreign policy.



<h2 class="wp-block-heading" id="h-top-of-mind-topics">Top of mind topics</h2>



We also make recommendations on specific topics.



Economic development and cooperation:&nbsp;South Africa needs to pay attention to its trade and economic relations, particularly in Africa. For example, the new&nbsp;<a href="https://theconversation.com/why-africas-free-trade-area-offers-so-much-promise-93827">African Continental Free Trade Area</a>&nbsp;should open important trading and job creating opportunities. It will also help develop regional value chains.



We recommend that the government, business, labour and other stakeholders develop an integrated strategy to take advantage of these opportunities.



Climate change:&nbsp;The country has played an important leadership role in the global&nbsp;<a href="https://www.environment.gov.za/projectsprogrammes/donorfunded/unfccc">United Nations Framework Convention on Climate Change</a>&nbsp;negotiations.



<figure class="wp-block-image"><img decoding="async" src="https://images.theconversation.com/files/370292/original/file-20201119-15-qrhl1w.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""/></figure>



To continue playing this role credibly, it should reduce the inconsistencies between its domestic and global climate change related policies. In particular, it needs to stress in both arenas the important relationship between climate change and social justice.



Peace and security:&nbsp;South Africa should draw lessons from its experiences in African peacemaking about how it can help African regional bodies end conflicts.



We also recommend that the country develops a maritime strategy. This is important for two reasons. First, South Africa is bounded by two major oceans. Its exclusive economic zone is bigger than its land mass. Second, external actors are becoming increasingly interested in the Indian Ocean. They see it as part of a bigger maritime space stretching from the Pacific to the east coast of Africa. Without such a strategy, it will be difficult for the country to protect its interests.



The multilateral system:&nbsp;Middle sized powers like South Africa need a reformed multilateral system. It should, therefore, continue to be engaged in the debates on reforming it.



Given resource constraints, it needs to focus on institutions where reform is feasible. These include the World Trade Organisation, the IMF and the World Bank. Reforms should focus on creating greater voice for underrepresented countries, and more public accountability and transparency.



South Africa should also use its platform in global forums like the&nbsp;<a href="https://g20.org/en/about/Pages/whatis.aspx">G20</a>&nbsp;and&nbsp;<a href="https://www.gov.za/about-government/brics-brazil-russia-india-china-south-africa-1">BRICS</a>&nbsp;to promote issues of concern to Africa, and to foster greater inter-regional cooperation.



<h2 class="wp-block-heading" id="h-need-for-coherence">Need for coherence</h2>



A foreign policy that looks incoherent – or is merely reactive – can have both reputational and material costs. We hope this book contributes to improving the gains the country can make from its international relations.

south-african-flag-1486137288VYk

How values, interests and power must shape South Africa’s foreign policy

<div class="wp-block-image wp-image-392571 size-full"><figure class="aligncenter"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/11/106800863-1606139583729-GettyImages-1229626160.jpg" alt="" class="wp-image-392571" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/11/106800863-1606139583729-GettyImages-1229626160.jpg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/106800863-1606139583729-GettyImages-1229626160-300x169.jpg 300w" sizes="auto, (max-width: 740px) 100vw, 740px" /><figcaption>CHONGWE (ZAMBIA), Nov. 13, 2020 (Xinhua) &#8212; Zambian President Edgar Lungu delivers a speech at the launch of blueberry export to China in Chongwe, Zambia, on Nov. 13, 2020. Zambia on Friday flagged off its inaugural export of fresh blueberries to China, becoming the first country in southern Africa to enter the huge Chinese market. Xinhua/Martin Mbangweta via Getty Images</figcaption></figure></div>



Zambia last week opted to bow out of a $42.5 million eurobond repayment, becoming the first African nation to default on its debt in the Covid-19 era.



On Wednesday, Fitch Ratings downgraded a key rating for Zambia from CC to Restricted Default. S&amp;P Global Ratings had already reduced its equivalent rating to Selective Default ahead of the expiry of a 30-day grace period and a creditor meeting on Nov. 13, citing the Zambian government’s assertion that it “will not make debt service payments.”



Fitch also withdrew ratings on Zambia’s two remaining eurobonds, on the assumption that either missed repayments or a new restructuring plan would also see these fall into default. Eurobonds are debt instruments denominated in a currency other than that of the issuer.



The country’s&nbsp;<a href="https://www.cnbc.com/2020/10/26/africa-could-be-about-to-see-its-first-post-covid-default-.html">debt profile has been spiraling</a>&nbsp;in recent years owing to issues predating the pandemic, leaving creditors wrangling over who should take losses on loans.



Zambia is Africa’s second-largest copper producer, and as copper prices have plummeted over the past three years, servicing repayments on its estimated $11 billion debt pile has become increasingly difficult.



The country last issued a eurobond in 2015, before its debt starting spiraling out of control, with many of the country’s infrastructure projects financed by Chinese loans as part of&nbsp;<a href="https://www.cnbc.com/2019/11/21/chinas-2-billion-ghana-deal-fears-over-debt-influence-environment.html">Beijing’s sweeping Belt &amp; Road initiative</a>.



As such, eurobond investors had sought greater clarity from the government over Zambia’s Chinese debt obligations, concerned that further debt financing will be used to pay off China before themselves.



All eyes are now on a potential International Monetary Fund bailout package, and NKC African Economics Senior Financial Economist Irmgard Erasmus said the IMF would play a crucial role in any negotiations.



“We believe an orderly process towards a bond swap agreement will require the mediating role of the IMF in its capacity as policy linchpin, which in turn rests upon the assumption that the Fund will support Zambia under a formal Extended Credit Facility (ECF) programme,” Erasmus wrote in a note Thursday.



“The absence of this linchpin risks a prolonged, acrimonious restructuring process which will be accompanied by a protracted growth shock.”



An IMF delegation is scheduled to travel to Zambia early next month, but Erasmus suggested the fund was likely to demand greater progress on Zambia’s liability management before offering a formal bailout program.



<h2 class="ArticleBody-subtitle wp-block-heading" id="h-no-easy-way-out"><a id="headline0"></a>‘No easy way out’</h2>



Robert Besseling, executive director of risk consultancy EXX Africa, said there was no guarantee that Zambia would be able to quickly restructure its eurobonds or other debt instruments.



“There’s no easy way out here really. I mean Zambia needs to continue to balance the priorities of international bonds versus commercial credits, versus Chinese project finance loans and World Bank, AfDB (African Development Bank) loans and see which ones are the most important,” Besseling told CNBC via telephone from Johannesburg Friday.



Besseling also noted that Zambia had made a repayment on a World Bank loan two days before defaulting on the eurobond, indicating where the government’s priorities lie. He suggested that Chinese commercial and international bonds would likely fall to the bottom of the pecking order and experience a series of defaults from Zambia.



“You’ll see that the repayments on the development finance institutions’ loans, like the World Bank and the AfDB, are likely to be continued, because this all needs to be taken into the political context of elections next year,” he said.



“The World Bank is providing huge development funding which is important for the government to continue because that has an actual impact on people’s lives and will be an electoral advantage for them.”



Zambians will head to the polls in August 2021, with President Edgar Lungu seeking a third term and expected face stiff competition from the opposition United Party for National Development (UPND).



Besseling projected a “gradual, managed lead up” to the elections, with the government prioritizing paying back development financing loans. But he added that Lungu’s ruling Patriotic Front would likely reach out to the IMF should it win re-election, at a time when the more “unpalatable” conditions that will likely be imposed by the Fund are seen as a worthwhile sacrifice to shore up the economy.

106800863-1606139583729-GettyImages-1229626160

Zambia becomes Africa’s first coronavirus-era default: What happens now?

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Releasing its interim results this morning, Vodacom has reported a rise of 15.7 per cent in headline earnings per share. The company added 4.1 million customers, to serve a combined 120 million customers across the group. Vodacom declared an interim dividend of 415 cents per share up 9.2 per cent. Vodacom CEO, Shameel Joosub joins CNBC Africa for more.

Vodacom reports 15.7% jumps in H1 earnings as pandemic boosts growth

Vodacom reports 15.7% jump in H1 earnings as pandemic boosts growth

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="740" height="416" src="https://www.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932.jpeg" alt="" class="wp-image-392105" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932-150x84.jpeg 150w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/105500770-1539253589126gettyimages-909184932-696x391.jpeg 696w" sizes="auto, (max-width: 740px) 100vw, 740px" /><figcaption>President Cyril Ramaphosa during a pre-World Economic Forum breakfast briefing on January 18, 2018 in Johannesburg, South Africa. Moeletsi Mabe| Sunday Times | Gallo Images | Getty Images</figcaption></figure>



South Africa now has less than a 33% chance of securing an IMF (International Monetary Fund) bailout this year, new research projects.



Having received $4.3 billion in emergency financing from the IMF so far in 2020, momentum toward a much-touted and wide-ranging bailout package seems to have ebbed in recent weeks.



The country is embarking on an&nbsp;<a href="https://www.cnbc.com/2020/03/31/south-africa-looks-to-structural-reform-last-investment-grade-credit-rating-falls.html">ambitious economic reform agenda</a>, hoping to stabilize a mounting debt profile while attempting to spur an economic recovery after the sharp downturn caused by the coronavirus pandemic.ADVERTISING



“ANC hardliners and allies of former president Jacob Zuma remain steadfastly opposed to an IMF deal,” said David Wille, principal analyst for financial sector risk at Verisk Maplecroft. The risk consultancy in its latest assessment earlier this week assigned a less than 33% chance of an IMF bailout for South Africa by the end of the year.



“However, their influence is likely to wane in the coming months as an ongoing anti-corruption drive targeting prominent Zuma associates, including current ANC Secretary General Elias Ace Magashule, gathers steam.”



<figure class="wp-block-image"><img decoding="async" src="https://image.cnbcfm.com/api/v1/image/105052025-GettyImages-914437330.jpg?v=1532563672&amp;w=678&amp;h=381" alt="Protesters for the removal from office of former South African President Jacob Zuma in Johannesburg, South Africa, on February 5, 2018."/><figcaption>Protesters for the removal from office of former South African President Jacob Zuma in Johannesburg, South Africa, on February 5, 2018.Marco Longari | AFP | Getty Images</figcaption></figure>







Zuma has been summoned to appear before a South African corruption inquiry from November 16 to November 20. The inquiry was set up two years ago to investigate allegations that during his time in office, Zuma enabled his associates the Gupta family to pilfer state resources.



Both parties have vehemently denied any wrongdoing, but Zuma’s nine-year tenure as president ended in February 2018 when he was ousted by his ruling ANC (African National Congress). His successor, current&nbsp;<a href="https://www.cnbc.com/2020/06/23/south-africas-ramaphosa-warns-that-difficult-days-lie-ahead.html">President Cyril Ramaphosa</a>, has since sought to restore investor confidence and transform his party’s image.



Finance Minister Tito Mboweni has long emphasized the necessity of shoring up South Africa’s economy in the aftermath of the pandemic. GDP (gross domestic product) is expected to contract by 8% in 2020, according to the IMF.WATCH NOWVIDEO05:04International Monetary Fund’s chief economist on the ‘dire’ forecast for global growth



“This includes a newfound willingness to confront powerful trade unions over unsustainable civil service wages that consume 41% of government revenues,” Wille said in the report earlier this week.



“These are signs that President Ramaphosa is keeping the door open to a potential IMF deal to finance the country’s pandemic recovery efforts.”



Wille said that although lower consensus forecasts and the limited time remaining to engineer a deal within Verisk’s forecast horizon makes a deal this year unlikely, there is still scope for South Africa to secure further funding, including from the IMF, in 2021 and beyond.



On Tuesday, Ramaphosa held a roundtable discussion showcasing infrastructure projects in a bid to attract private sector interest and around 210 billion South African rand ($13.3 billion) in funding. The government is aiming to boost investment to around 23% of GDP by 2024 from its current figure of just over 16%, with the private sector accounting for 15% of GDP of that target.



Ramaphosa’s Economic Reconstruction and Recovery Plan highlights four broad priority interventions intended to shore up the nation’s economy. These include an infrastructure rollout, expanding energy capacity, direct employment stimulus, and stimulating industrial growth. Mboweni gave a budget update on October 28, outlining the country’s troubling fiscal position and plans to right the ship.



“A less ambitious (relative to the ‘active’ scenario put forward in June) albeit more credible (as it looks more attainable given announced budget cuts) fiscal trajectory was communicated, which leaves little room for error and will require the Treasury to walk a tightrope in order to avoid a sovereign credit crisis,” NKC African Economics Head of Africa Macro Jacques Nel said in a research note Wednesday.



“Budget cuts mean that service delivery will undoubtedly suffer next year and there is little money for recurrent spending, let alone public investment.”

South Africa IMF bailout hopes falter as Zuma loyalists resist

JOHANNESBURG (Reuters) &#8211; Mozambique&#8217;s Attorney General&#8217;s Office said on Wednesday it will seek the extradition of three former Credit Suisse&nbsp;<a href="https://www.reuters.com/companies/CSGN.S">CSGN.S</a>&nbsp;bankers implicated in a $2 billion debt scandal that sent the country&#8217;s economy into crisis.



Andrew Pearse, Detelina Subeva and Surjan Singh, who helped arrange the loans to Mozambique, all pleaded guilty in the United States last year to charges including conspiracy to violate U.S. anti-bribery laws and to commit money laundering and securities fraud in relation to their role in the affair.



Lawyers for the three bankers did not immediately respond to requests for comment or could not immediately be reached.







Mozambique would now seek their extradition after the country’s Supreme Court granted approval for the Attorney General’s Office to do so, a representative of the AGO told Reuters via WhatsApp.



They said following the approval, the next steps would be to go through with the extradition request according to procedure, but did not elaborate on what that meant.



The representative also did not immediately answer further questions about whether the three bankers had been charged with any crimes in Mozambique, though a report in state-owned newspaper Noticias said the government wants the trio to come to the country to face unspecified criminal charges.







Hundreds of millions of dollars of the loans the bankers helped arrange went missing. The scandal prompted donors including the International Monetary Fund to cut off support to Mozambique, triggering a currency collapse and debt default.



The southeast African nation remains on the hook for the money. It has charged a number of people in Mozambique with crimes in relation to the scandal, and is trying to get government guarantees for some of the loans overturned in court.

Mozambique records first COVID-19 death

Mozambique to seek extradition of ex-Credit Suisse bankers involved in $2 billion debt scandal

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Africa’s growth has been set back by the impact of COVID-19, with the continent demanding a new approach to economic development.

COVID-19: How the pandemic has highlighted the need for sustainable finance

Zoli Kunene, a towering man and a larger-than-life lawyer, has passed away after a long life furthering the cause of human rights and black entrepreneurship in South Africa. He was one fifth of the legendary Kunene brothers who spent years building up black ownership in business, long before legislation lent a helping hand.



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2020/09/Mr.-Zoli-Kunene-1-1110x740.jpg" alt="" class="wp-image-383002" width="625" height="504"/><figcaption>Zoli Kunene</figcaption></figure>



Zoli, Keith, Dudu, Zanosi and Menzi Kunene all ended up in business together, with a wide portfolio of companies carrying out everything from canning Coca-Cola to selling Daimler-Chrysler&nbsp; cars.&nbsp;



Zoli Kunene trained as a lawyer in the days when it was rare for a man of his background to do so. He fought many human rights cases in the dim days of apartheid, in South Africa, and had unrivalled knowledge of the names of all the black lawyers working in and around Johannesburg in his era, no matter how small.



&#8220;There were so few of us, in those days, that you knew every black lawyer in a 100-hundred- mile radius!&#8221; he used to laugh.



The Kunene brothers&#8217; business empire began way back in 1978 when Keith acquired a sub-lease to sell fresh milk in Vosloorus east of Johannesburg. Kunene Bros. Holdings took over a nearby liquor licence from the government, in 1983, and also began wholesaling Coca Cola. The latter business led to the creation of Coca-Cola Fortune the second largest bottling and distribution company in South Africa.



As the brothers worked hard, in concord,&nbsp; they built up a robust stable of companies to include a financial services company and defence and security outfit.&nbsp;



Zoli Kunene,&nbsp;was also active in public and corporate life. He was an honorary colonel in the South African National Defence Force and chairman of the South African Aerospace Maritime and Defence Industries Association. He was also past president of the Defence Industries Interest Group of South Africa and served as chairman of Denel. In the corporate world he was chairman of Grintek Ewation and a director of Cell C.&nbsp; 



&#8220;Zoli was a keen golfer and a larger than life figure at the annual father &amp; son golf day; he will be missed by all.A great man, dynamic leader, family man, friend and above all a human being who cared for all those around him. He will be missed,&#8221; says Rakesh Wahi, the chairman of CMA Investment Holdings and a close friend of Zoli Kunene.



&#8220;Zoli was a pioneer in business and human relations.He championed the cause of the workers and took interest in technology-driven business operations . He was a pillar of the family business alongside his siblings. He recently pioneered the growth and diversification strategy of the Kunene Brothers business group for the future business environment. He remained humble in all his business achievements. Above all, remained a resolute family man pursuing the welfare of his entire family,&#8221; says Sam Bhembe, a non executive director of African Business News.

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Southern Africa

South Africa’s TCTA raises $1 bln for Lesotho water project

Southern African leaders postpone meeting on Mozambique insurgency

S.Africa’s Naspers hires Airbnb, Amazon veteran to lead global classifieds business

South Africa’s treasury reduces weekly debt auctions by $175 mln

Resolving Energy Challenges “Fundamental” For Economic Recovery, Says Ramaphosa

S.African Uber drivers join global push for worker rights -lawyers

South African corruption inquiry wants Zuma jailed for 2 years after no-show

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Covid variant in South Africa is ‘more of a problem’ than the one in UK, official says

South Africa’s Ramaphosa faces no-confidence vote next week

How values, interests and power must shape South Africa’s foreign policy

Zambia becomes Africa’s first coronavirus-era default: What happens now?

Vodacom reports 15.7% jump in H1 earnings as pandemic boosts growth

South Africa IMF bailout hopes falter as Zuma loyalists resist

Mozambique to seek extradition of ex-Credit Suisse bankers involved in $2 billion debt scandal

COVID-19: How the pandemic has highlighted the need for sustainable finance

Zoli Kunene – Larger than life champion of black business passes away.

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