S'thembile Cele

The president wants to invest $88 billion in infrastructure by 2030 — a plan that helped make construction the country’s most successful sector last year

South Africa’s business community is seeing evidence that the nation’s struggling economy is turning around and will take that message to the World Economic Forum next week.

South African officials are working to prevent the closure of some steel mills operated by the local unit of ArcelorMittal SA this month, Trade Minister Parks Tau said, adding he is hopeful about success.

The plight of hundreds of illegal miners trapped underground for months highlights the desperation many face in Africa’s most industrialized economy.

Indian steelmaking tycoon Lakshmi Mittal met with South African ministers in Davos this week as the country seeks to head off the planned closure of steel mills that are crucial to the local economy.

South Africa’s President Cyril Ramaphosa said he expects to find common ground with his US counterpart Donald Trump, despite concern among some world leaders about what his return to the White House may bring.

South African central bank Governor Lesetja Kganyago was elected chancellor of Stellenbosch University, succeeding retired Judge Edwin Cameron as the ceremonial head of an institution that was once a bastion for the country’s White Afrikaner establishment during apartheid rule.

South Africa’s biggest political party will ask the National Treasury to consider a once-off debt-relief package for state-owned rail and ports operator Transnet SOC Ltd. before next month’s budget.

South Africa is still discussing whether to set up a new fund to promote Black-owned businesses, and suggestions that new taxes will be imposed to capitalize it are unfounded, the nation’s trade and industry minister said.

As it seeks to resolve a dispute regarding new laws approved by President Cyril Ramaphosa.