Prinesha Naidoo
Bloomberg
Johannesburg, GP, South Africa
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Past articles by Prinesha:
South Africa to Map Out Plan for Eskom’s $22 Billion Debt Pile in Budget
Investors in South Africa’s cash-strapped power utility are on high alert for Finance Minister Enoch Godongwana’s plan to reorganize its mountain of debt. → Read More
Eskom Debt Albatross Hangs Over South Africa’s Plans to Stabilize Budget
South African Finance Minister Enoch Godongwana faces the task of incorporating a credible debt-relief plan for the stricken state power utility in the national budget while stabilizing government finances as record blackouts weigh on the economy. → Read More
Dirty-Money Rating Risks Boosting Costs for South African Banks, State Companies
South Africa’s government and state-owned companies will find it harder to borrow money, while banking and asset-management fees may increase if the country is added to a global watchdog’s list of nations with shortcomings in tackling illicit financial flows. → Read More
What South Africa’s ANC Decided at Its National Conference
South Africa’s governing party concluded a five-yearly gathering Friday to fine-tune its policies and adopt new ones, with electricity shortages, welfare grants, the central bank’s mandate and the management of state companies among the items on its agenda. → Read More
South Africa Tightens Welfare Grant Criteria to Counter Abuse
South Africa is tightening the qualifying criteria for recipients of a welfare grant that was introduced to cushion the poor against the fallout of the coronavirus as it considers how best to continue providing support, a National Treasury official said. → Read More
South Africa’s Finance Chief to Navigate Cost, Debt Wildcards in Budget
South African Finance Minister Enoch Godongwana is under pressure to show efforts to reduce the country’s fiscal deficits and rein in debt won’t be compromised by new spending measures in this week’s budget. → Read More
Bain, Nedbank Deny Facilitating Corruption in South Africa
Global consultancy Bain & Co. and Nedbank Group Ltd., South Africa’s fifth-largest lender, denied willfully facilitating or being party to corruption after a judicial inquiry found their conduct wanting in their dealings with state-owned firms. A panel, headed by Acting Chief Justice Raymond Zondo, concluded in the first of a three-part report that the state was “captured” during former… → Read More
South Africa Records Lowest Number of Covid Cases in Two Weeks
South Africa’s daily coronavirus cases almost halved amid a fourth wave of infections fueled by the omicron variant. The country recorded 8,515 new infections in the past 24 hours, data from the National Institute for Communicable Diseases showed Monday. That’s a 44% drop from a day earlier and the lowest number of daily infections since Dec. 6. → Read More
South African Panel Proposes Gradual Start to Basic Income Grant
A South African panel recommended the country gradually implement a basic income grant, beginning with the institutionalization of a monthly welfare payment introduced last year to offset damage wrought by the coronavirus pandemic. → Read More
New Variant Puts South Africa at Risk of Global Shut Out
South Africa’s recovery from its deepest economic contraction in almost three decades risks being derailed by the identification of a new coronavirus variant that prompted several European nations to ban travel to and from the country right before its summer holiday season. → Read More
Godongwana’s Maiden S. Africa Budget Delayed for Second Time
South Africa’s government delayed Finance Minister Enoch Godongwana’s maiden budget for a second time. → Read More
White Adults Are Most Vaccine-Hesitant South Africans, Survey Shows
Vaccine hesitancy is most pronounced among White adults in South Africa, which is struggling to keep immunization centers busy just three months into the rollout of its inoculation program, a survey showed. → Read More
New Finance Minister Faces Battle to Revive South Africa Economy
South African President Cyril Ramaphosa announced 10 changes to his cabinet, including the appointment of close political ally Enoch Godongwana as his new finance minister. → Read More
South Africa Mulls Stake in Lender as it Covets a State Bank
South African Finance Minister Tito Mboweni wants to forge ahead with long-touted plans to establish a state bank and suggested the government take up the central bank’s stake in African Bank Holdings Ltd. and use it as a building block for the new lender. → Read More
South Africa Finance Chief Mboweni Vows to Avert Debt Crisis
South African Finance Minister Tito Mboweni affirmed his commitment to reining in debt amid concerns that the coronavirus pandemic and a week of deadly riots will further erode the state’s already shaky finances. → Read More
Vaccine and Ventilator Shortages Show Need for African Free Trade
Covid-19 is spurring calls to implement the world’s biggest tariff-free zone to boost investment. → Read More
Food Shortages Set to Grip South Africa After Rioters Rampage
South Africans are expected to face major food shortages in the wake of days of violent unrest across two key provinces, as rioters upend supply chains by looting supermarkets and torching goods trucks. → Read More
South Africa Needs Emergency Action to Create Jobs, World Bank Says
South Africa can bolster hiring by temporarily extending tax incentives, suspending rules that increase labor costs and introducing measures to support entrepreneurship and self-employment, according to the World Bank. → Read More
South Africa Reports Record 24,270 Daily Coronavirus Cases
The number of South African daily coronavirus cases surged to a record as a third wave of infections rips through the nation. → Read More
Key African central banks may hold rates on growth concerns
As a slow rollout of Covid-19 vaccines means their economies remain vulnerable to a new wave of the virus. → Read More