Renee Bonorchis
Bloomberg
City of Johannesburg Metropolitan Municipality, GP, South Africa
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Past articles by Renee:
The Winners & Losers in South Africa’s Budget
South African Finance Minister Enoch Godongwana’s budget benefited from rising precious mineral prices and increased tax collection. But these positive tailwinds aren’t expected to continue as the country battles frequent power outages, deteriorating rail and port infrastructure and unpredictable fuel prices. → Read More
Meet the Guptas, Symbols of South African Corruption
The three Gupta brothers have come to embody the corruption that blighted South African President Jacob Zuma’s almost nine-year rule. They allegedly used their friendship with the president and business ties to his son, Duduzane, to influence cabinet appointments and secure illicit state contracts worth billions of dollars. They fled South Africa for Dubai in early 2018 after the ruling party… → Read More
Covid-19 Infected Lions Prompt Variant Warning in South Africa
Lions and pumas at a zoo in the South African capital of Pretoria got severe Covid-19 from asymptomatic zoo handlers, raising concerns that new variants could emerge from animal reservoirs of the disease, studies carried out by a local university showed. → Read More
Covid-19 Cases Surge to Record in South Africa’s Industrial Hub
Coronavirus infections surged to a record in South Africa’s industrial hub of Gauteng, prompting warnings about hospital capacity and calls for tighter restrictions. → Read More
Ramaphosa orders probe into passenger rail agency
President Cyril Ramaphosa has referred allegations of maladministration at the Passenger Rail Agency of South Africa to the state’s Special Investigating Unit. → Read More
South Africa's inflation expectations 'encouraging', SARB says
Economic activity has disappointed over the past year, SA Reserve Bank Deputy Governor Mminele said, adding that growth projections for 2020 and 2021 only show, at best, a sluggish recovery. → Read More
Ramaphosa seeks Health Professions Council probe
President Cyril Ramaphosa has referred a probe into the Health Professions Council of South Africa to the state’s Special Investigating Unit. → Read More
MTN Nigeria listing set for Thursday, valuing it over R70bn
MTN Group said its long-awaited Nigerian listing will go ahead on Thursday with the price set at 90 naira, about R3.55 per share. → Read More
Steinhoff report reveals maelstrom of conflicts of interest
Steinhoff International was for many years run by a board of tight-knit people, many of whom had done business together for decades. → Read More
Vodacom, MTN fall after Competition Commission finds data too expensive
Vodacom and MTN shares fell after one of the competition regulators ruled that the mobile-phone companies overcharge customers for data – particularly those with lower incomes. → Read More
Steinhoff says French retail unit has raised new money to stabilise firm
Steinhoff International Holdings said its French furniture retail unit Conforama Holdings SA has raised a total of about $356 million to ensure the stability of its capital structure and operations after debt rose and revenue fell. → Read More
Rothschild & Co. shakes up SA management team
Rothschild & Co.’s SA unit says its CEO, Martin Kingston, will cede his role to Paul Bondi and Giles Douglas and become executive chairman as he prepares to be more involved in work aimed at supporting the government. → Read More
10 worst performers tell tale of SA economy
It’s not even the end of the first quarter and already there’s a plethora of once-significant South African companies that have either collapsed or had their share prices hit the wall. → Read More
Group Five enters bankruptcy protection; listing suspended on JSE
The engineering and construction group has entered a form of bankruptcy protection known as business rescue and had its stock suspended from trading on the JSE. → Read More
African pharma tycoon Saad falls from grace as Aspen plunges
Aspen Pharmacare Chief Executive Officer Stephen Saad is having a bad day, after shares in the drugmaker he co-founded more than two decades ago crashed by as much as 50% in Johannesburg. → Read More
SA authorities finally closing in on possible fraud, theft involving Steinhoff directors
It’s been a long 16 months for investors who were devastated when global retailer Steinhoff shocked markets with its accounting scandal, but now South African police and regulators are finally saying their investigations have progressed. → Read More
EOH founders quit in board shake-up as scrutiny intensifies
EOH Holdings said two of its founders resigned in a board shake-up as CEO Stephen van Coller races against time to restructure the South African technology firm and calm investors and lenders. The exodus, which saw four of EOH's seven directors quit, comes on the day the members were up for re-election at the Johannesburg-based company's annual general meeting. It also comes after an anonymous… → Read More
SA gold output plunges most in six years in December
Production of gold by South African mines retreated the most in six years in December as a strike at the nation’s top producer of the metal continued. → Read More
Strike against job losses compounds SA's load shedding woes
South Africa’s biggest labour group staged a nationwide protest against job losses Wednesday, the latest setback for an economy reeling from four consecutive days of rolling power cuts. → Read More
Corruption Watch files Eskom board delinquency papers
Civil-society organisation Corruption Watch says it has launched an application in the High Court of Pretoria to have former Eskom board members declared delinquent. → Read More