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Barclays' plans to sell its African operations and exit the continent have been hampered by political turmoil in South Africa and a downgrade in its credit rating, bankers and fund managers said. The British bank gave it two to three years to sell a controlling stake in Johannesburg-based Barclays Africa when it announced the plan in early 2016, and in May last year called for an accelerated bookbuild. ” (a short-term stock sale) and sold 12% of the stock. Temporal. The bank had planned to further accelerate its bookbuild in the past two weeks, but postponed the deal due to…

South Africa's ombudsman has documented close ties between the Gupta family and President Jacob Zuma. File photo of President Jacob Zuma and Finance Minister Pravin Gordhan.Credit: Reuters South Africa has reached a crisis point in its political history, which has been looming for over a year. Literally in the dark of night, President Jacob Zuma demonstrated his ruthlessness by sacking Finance Minister Pravin Gordhan during a 20-person government reshuffle. The magnitude of what happened should not be underestimated. The Save South Africa campaign echoed the sentiments of the country's progressive-minded constitutionalists, describing Gordhan's sacking as an “unconscionable act”. There are…

South Africa's people should breathe a sigh of relief following the Constitutional Court's ruling guaranteeing uninterrupted payment of social grants in South Africa. There may also be praise following the slight increase in monthly social grant payments for more than 17 million South Africans announced in February's national budget. However, these increases are not enough to address South Africa's persistent malnutrition challenges. South Africa's social protection system has expanded dramatically since 1994. Nearly a third of South Africans, and in some provinces more than half of all households, receive at least one social grant from the state. The largest of…

The veteran actors took to the stage on Thursday afternoon to deliver a scathing critique of the SABC and SABC2 soap operas. Muvhango South African Actors in the Entertainment Industry Joe Mafera's memorial service, called on the public broadcaster to stop just paying lip service to taking care of actors and start paying their residual remuneration.legendary Joe Mafera (75), the most famous of which is Sugudhi Sunaisi John McGregor, an actress who appeared in sitcoms and Chicken Licken TV commercials, died in a car accident on Johannesburg's M1 highway on Saturday night. A televised memorial service was held in a…

'Financial inclusion' has hit the headlines in South Africa following scandals over the distribution of social grants. Suggestions that Cash Paymaster Services (CPS), the controversial company at the center of the storm, and its affiliates are targeting grant recipients to 'cross-sell' other financial products Evidence is mounting. The company has consistently denied any wrongdoing, and one of its major investors, Alan Gray, maintains that no wrongdoing has been formally proven. Importantly, both cite the idea that CPS is enabling “financial inclusion.” This term has been used with a fair amount of abuse over the past few decades. “Financial inclusion” typically…

Former Nigerian Ambassador to the United States and Ambassador of Nigeria to the Netherlands Joe Keshi yesterday said that the increase in attacks on Nigerians and other African nationals by young South Africans is due to South African political elites inciting xenophobic attacks. He said that there is. to other citizens of that country. Mr Keshi said in an interview with Arise News in Abuja, Niger, that the situation is also part of gang wars across South Africa. “The main reasons are: I try to explain to people that during apartheid South Africans ruled the area, but now foreigners have…

It was a real honor and pleasure to see this group of iconic musicians perform in such a humble venue. They were not only disconcerting to hear, but also visually stunning. Wearing light-colored shirts, dark pants, and white shoes, they improvised in unison in the most entertaining way. They were well rehearsed, full of energy and had a great sense of humor. Those not familiar with the group may know them from the highly respected Paul Simon album. graceland, There are many other widely known artists as well. You can find out more about the band in this interview with…

Milton NkosiBBC News, JohannesburgMarch 14, 2017image caption, Those going to collect payments may experience long wait timesAs the BBC's Milton Nkosi reports, millions of vulnerable South Africans are at risk of missing out on vital social security payments starting next month due to a scandal over government contracts. ing. “I am very worried. I even have sleepless nights. I don't know what I would do without this money. My family will starve,” Magebaso Mamaire told the BBC. The 78-year-old lives in a town east of the main city of Johannesburg. She has her family of six including her two children…

In South Africa, social grants address key social determinants of health such as food insecurity, access to health services, income and early childhood development. Approximately 17 million South Africans receive monthly social grants. Approximately 12 million of these children are receiving child support subsidies. For many households, child support subsidies and retirement subsidies are the only form of predictable income. Recipients, as well as many in the medical community, have long lamented child support subsidies that fail to meet even the most basic needs of beneficiaries, such as adequate nutrition, and that millions of people There is no doubt that…

Xenophobic attacks against Nigerians in South Africa were among the most searched items on Google this week, the company said on Thursday. Taiwo Kola Ogunlade, Google’s Communications and Public Relations Manager for English-speaking West Africa, told the News Agency of Nigeria (NAN) in Lagos that the search took place between February 23 and March 1. “Relations between Nigeria and South Africa have become somewhat strained this week after allegations of xenophobic attacks against Nigerians in South Africa circulated on the internet,” he said. The Google manager said the fall of the US dollar against the Nigerian naira was also attracting…