South Africa recorded a deficit of R4,219-billion for its trade with non-Southern African Customs’ Union trading partners in June after a deficit of R7,005-billion in May, according to customs and excise figures released on Monday. The trade balance was expected to have narrowed to a R2,5-billion deficit in June, a survey has found.
Leaders of Zimbabwe’s opposition political parties, civic society and churches have called for "democratic confrontation and mass resistance" to force President Robert Mugabe to accept sweeping political reforms, raising the stakes in the troubled Southern African country.
A mammoth vote count was in swing in the Democratic Republic of Congo on Monday after the war-ravaged country’s first free elections in 46 years. Current President Joseph Kabila is the favourite to win but the DRC, and neighbours with vast vested interests, will have to wait until August 31 for the result of Sunday’s first-round vote.
Muttiah Muralitharan took six second-innings wickets and 10 in the match to propel Sri Lanka to a crushing innings and 153-run win over South Africa in the first cricket Test. Resuming Monday on 311-4, South Africa were dismissed for 434 in the middle session of the final day.
Zimbabwe’s central bank devalued its dollar by 60% on Monday after announcing it had decided to knock three zeros off all banknotes to help consumers cope with hyperinflation of nearly 1Â 200%. ”With immediate effect the inter-bank exchange rate has been adjusted to the trading level, after the removal of the three zeroes,” central bank head Gideon Gono said.
A retail development bond could be the perfect vehicle to develop South African small and micro-business and low-income housing while, at the same time, providing retail investors with market-related returns. Although socially responsible investing is well understood in South Africa there is an enormous gap in funding available for projects under R3-million.
South Africa promised on Monday to bounce back from a record 49-0 drubbing by the Wallabies and fight to win this week’s Tri-Nations clash. The Springboks were humiliated two weeks ago when they failed to score against Australia in Brisbane and now sit at the bottom of the table.
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Jacob Zuma’s corruption trial was adjourned until September 5 after a short session at the Pietermaritzburg High Court on Monday. Judge Herbert Msimang did not accept state prosecutor Wim Trengove’s assertion that it should be postponed till September 7 because colleague Anton Steynberg would be overseas at a conference.
South Africa’s official opposition Democratic Alliance (DA) says it will try to establish exactly which Members of Parliament are — or were — indebted to Parliament for the improper use of air travel vouchers. Chief whip Douglas Gibson said it appeared that some thought the scandal should be swept under the carpet.
The JSE remained in positive territory just after midday on Monday, but was well off its highs mainly due to weakness in European markets. Platinum stocks led the JSE’s upside helped by a higher platinum price and positive results from AngloPlat. By 12.13pm, the all-share and all-share industrial indices added 0,25% and 0,26% respectively.