South Africasfactory output grew slower than expected in Jan, data showed, leaving room fora possible interest rate cut in March. Manufacturing is a key economic driver.Factory production rose 3.7% in Jan, falling against Decembers by 0.6%, StatsSA said. The ruling ANCs allies will probably use the weak factory data toback their calls for more rate cuts this year. National treasury expects theeconomy to expand by 2.3% this year, but unemployment of about 25% remainscritical. Head of fixed income at Investec Asset Management, Andre Roux, said afurther rate cut cannot be ruled out when the monetary policy committee meetslater this month.
South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more
South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more
Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more