Growth in demand for credit from South Africa’s private sector slowed to 23,13% year-on-year in July, but money supply rose above forecasts, official data showed on Thursday. The Reserve Bank said credit expansion slowed from a revised 24,99% in June, but the broadly defined M3 measure of money supply grew 24,46%.
South Africa’s producer price index (PPI) rose by 10,3% year-on-year (y/y) in July from a 10,4% year-on-year increase in June, Statistics South Africa (Stats SA) data on Thursday showed. The PPI rose 1,6% on a monthly basis after June’s monthly increase of 2,1%.
South Africa’s ruling African National Congress (ANC) is set to entrench its political dominance with a 15-day window period opening this week to allow elected officials to swap party allegiance without losing their seats. The opposition is likely to be further fragmented as representatives at the national, provincial and municipal government levels are free to cross the floor.
Relentless in defence, Jomo Cosmos capitulated 5-3 to Mamelodi Sundowns in a penalty shoot-out after the SAA Supa8 semifinal at the Peter Mokaba Stadium in Polokwane ended goalless following extra-time. Cosmos played with a cynical acceptance that their best chance of winning rested in ensuring the proceedings remained scoreless.
Zimbabwean President Robert Mugabe vowed on Wednesday to win next year’s elections and said nobody could ever force him into exile. ”I want to say here that I am not going anywhere. Here I was born. Here I grew up and here I shall die and will be buried,” he told veterans of the country’s 1970s war of liberation.
Implats, the world’s second-biggest platinum producer, posted a 75% rise in annual headline earnings per share on Thursday, at the top end of expectations, lifted by higher output and strong metals prices. South Africa’s Impala Platinum Holdings said headline EPS jumped to R13,12 for the 12 months to end-June from R7,50 the previous year.
A steaming, bubbling toilet which caused a paraplegic prisoner to suffer burns to his buttocks and private parts will cost the ministers of Public Works and Correctional Services R35 000 in damages. Prisoner Augustino Banze (36) said in papers before the Pretoria High court he went to the toilet at 8.30am on October 16 2004.
Over 700 financial misconduct cases were reported to the Public Service Commission over the 2005/2006 financial year, with 81% of implicated employees being found guilty, the National Anti-Corruption Forum (NACF) said on Thursday.
Relations between Russia and Britain were facing fresh turbulence on Wednesday after a billionaire oligarch wanted by the Kremlin for tax evasion was reported to have escaped to London. Mikhail Gutseriyev — the former head of one of Russia’s largest private oil firms — disappeared from Russia last week.
A reduction of crime since 2006 was the result of a clamp-down conducted by the Johannesburg metro police and the South African Police Service, metro police said on Wednesday. Chief Superintendent Wayne Minnaar said more than 1 000 illegal firearms had been confiscated and armed robbery in the inner-city had been reduced by 63%.