As gold prices continue to surge past $5 000 an ounce, the General Industrial Workers Union of South Africa (GIWUSA) has called on the government to take decisive action on hundreds of abandoned and care‑and‑maintenance gold and platinum mines. 

The union says the rise in mineral values underscores the need to rehabilitate these mines, prevent them from lying fallow and consider their expropriation. Thami Ngubeni spoke to Mametlwe Sebei, President of the General Industrial Workers Union of South Africa.

As gold prices continue to surge past $5 000 an ounce, the General Industrial Workers Union of South Africa (GIWUSA) has called on the government to take decisive action on hundreds of abandoned and care‑and‑maintenance gold and platinum mines.&nbsp;
The union says the rise in mineral values underscores the need to rehabilitate these mines, prevent them from lying fallow and consider their expropriation. Thami Ngubeni spoke to Mametlwe Sebei, President of the General Industrial Workers Union of South Africa.

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.

Business Africa

Africa in Business

GIWUSA calls for the rehabilitation of hundreds of abandoned gold and platinum mines in South Africa

Lindile Malgas, Investment Strategist at Absa Investments, unpacks performance in both local and global markets. Mr Price Group has released its third‑quarter sales results, and key factors that the market will be watching for the rest of this week are also in focus.

Lindile Malgas, Investment Strategist at Absa Investments, unpacks performance in both local and global markets. Mr Price Group has released its third‑quarter sales results, and key factors that the market will be watching for the rest of this week are also in focus.

The latest business and financial markets developments

A United Nations Development Programme–linked analysis, supported by African business research, suggests that Africa may be losing nearly $75 billion each year due to higher borrowing costs driven by perceived risk, often referred to as the “Africa risk premium.”

 

Of the continent’s 53 countries, 33 are rated below investment grade, while only two currently hold investment‑grade status. What does this mean for the future of Africa’s credit profile? Channel Africa’s Economics Reporter, Innocent Semosa, has the details.

A United Nations Development Programme&ndash;linked analysis, supported by African business research, suggests that Africa may be losing nearly $75 billion each year due to higher borrowing costs driven by perceived risk, often referred to as the &ldquo;Africa risk premium.&rdquo;
&nbsp;
Of the continent&rsquo;s 53 countries, 33 are rated below investment grade, while only two currently hold investment‑grade status. What does this mean for the future of Africa&rsquo;s credit profile? Channel Africa&rsquo;s Economics Reporter, Innocent Semosa, has the details.

33 out of 53 countries in Africa are rated below investment grade, while only two hold investment‑grade status

Moody’s Ratings has upgraded Kenya’s sovereign credit rating to Caa1 from B3, pointing to a reduced near‑term default risk underpinned by stronger external liquidity and improved access to international capital markets. The move comes just days after Fitch Ratings affirmed Kenya’s long‑term foreign‑currency issuer default rating at ‘B‑’ with a Stable Outlook, reinforcing the assessment that external risks have eased even as fiscal pressures remain. Thami Ngubeni spoke to Kenyan Economist Martin Adati.

Moody&rsquo;s Ratings has upgraded Kenya&rsquo;s sovereign credit rating to Caa1 from B3, pointing to a reduced near‑term default risk underpinned by stronger external liquidity and improved access to international capital markets. The move comes just days after Fitch Ratings affirmed Kenya&rsquo;s long‑term foreign‑currency issuer default rating at &lsquo;B‑&rsquo; with a Stable Outlook, reinforcing the assessment that external risks have eased even as fiscal pressures remain. Thami Ngubeni spoke to Kenyan Economist Martin Adati.

GIWUSA calls for the rehabilitation of hundreds of abandoned gold and platinum mines in South Africa

In 1 playlist(s)

Africa in Business

Social links

Recent clips