Registered users can save articles to their personal articles list. Login here or sign up here

Five things making headlines in South Africa today

Anglo American completes JV disposal, inflation rate and retail sales figures, uncovering Eskom’s coal policy, VBS saga continues.

Here’s what caught our attention on Wednesday:

1. Anglo American completes disposal of 33% interest in BRPM JV

Mining company Anglo American confirms that the conditions relating to the purchase of the Royal Bafokeng Platinum and Royal Bafokeng Proprietary Limited have been fulfilled. Its Rustenburg Platinum Mine has therefore completed the disposal of its 33% interest in the Bafokeng Rasimone Platinum Mine JV. The transaction reached completion on December 11.

2. Core inflation rate

South Africa’s headline consumer inflation quickened slightly to 5.2% year-on-year in November, while core inflation, which excludes the prices of food, non-alcoholic beverages, petrol and energy, was edged up to 4.4% year-on-year in November from 4.2% in October.

3. November retail sales

Retail sales figures for October are expected to be released on Wednesday. In September, retail sales increased 0.7% year-on-year from a 2.5% increase in August.

Update to follow.

4. Jabu Mabuza’s coal policy

Eskom chairman Jabu Mabuza has denied that the utility has a policy dictating that coal suppliers must be majority black-owned. Moneyweb digs deeper into the matter to ascertain how this might have an impact on the current coal stockpiles and subsequent load shedding.

Read: The curious case of Jabu Mabuza and Eskom’s coal policy

5. Resignations relating to VBS 

The heist of VBS Mutual Bank continues to have far-reaching consequences. The mayor of the Vhembe district, Florence Radzilani, has handed in her resignation over the VBS scandal. According to the Mail and Guardian, she allegedly received R300 000, although Radzilani says she is leaving office with a clear conscience after being vindicated by two forensic investigations. Alongside Radzilani, six other mayors were told to go for being implicated in the VBS saga. If convicted, the mayors may face criminal charges and jail time. 

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.


To comment, you must be registered and logged in.


Don't have an account?
Sign up for FREE


Insider GOLD
ONLY R63pm

Moneyweb's premium subscription is a membership service which will give you access to a number of tools to take charge of your investments.
Choose a yearly subscription at R630pa - SAVE R126

Get instant access to all our tools and content. Monthly subscription can be cancelled at any time.



Follow us:

Search Articles:Advanced Search
Click a Company: