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    Nene’s axing ‘staggering’ – Vavi

    President Jacob Zuma’s decision to replace Finance Minister Nhlanhla Nene during a sensitive period in South Africa’s economy is a sign that government is mismanaging the country’s affairs, former Cosatu general secretary Zwelinzima Vavi said on Friday. Vavi described Nene’s dismissal as “unceremonious and humiliating”. “The dismissal of a finance minister, possibly the most senior […]

  • Economic slowdown in America causes worldwide concern

    South Africa’s rand plunged to a three year low against the dollar on Friday as weak U.S. jobs data intensified fears of a global economic slump and sent investors scurrying away from risky emerging market assets. The Rand lost about 1.42 percent to 8.60 against the greenback while earlier in the day the Rand touched […]

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