Africa Briefs

SA, unions at loggerheadsSouth Africa's government and trade unions are at loggerheads over unpaid salaries at South African Airways (SAA), which could lead to a messy court battle that may further complicate efforts to rescue the struggling airline.Some employees have not been paid since March.The ministry responsible for SAA wants workers to accept three months of unpaid wages totalling R600 million as it pushes to get the national carrier back in the air next year.But unions say their members are due more: five months' salary for those who accepted voluntary severance packages before a September deadline and eight months for those still in layoff talks. That would be in addition to the severance packages themselves, which have yet to be paid.Out of SAA's roughly 4 500 staff when it entered administration in December 2019, around 3 200 have accepted severance terms and 1 300 are still in layoff consultations. – Nampa/ReutersZESA charges in foreign currencyZimbabwe's power utility ZESA Holdings on Saturday joined the growing list of state entities which are charging for their services in foreign currency.The generated foreign currency will be used to procure equipment for the utility's transmission and distribution network.The company said it was leveraging on the multi-currency regime to adequately fund its operations, maintain its infrastructure as well as procure spares and equipment to stabilize the electricity network.Prior to extending the system to domestic consumers, the power utility has been billing exporters, mainly the mining industry, in foreign currency.Local authorities have also given ratepayers an option to settle their bills in foreign currency. – Nampa/XinhuaEnergy chief accused of briberyThe head of Kenya's energy sector regulator has been arrested over accusations he demanded a US$1 800 bribe to reopen a shuttered petrol station, the Ethics and Anti-Corruption Commission (EACC) said on Friday.Robert Pavel Oimeke was arrested late on Thursday and was in police custody, the commission added. "He is likely to be charged with corruption this week," it said.The energy regulator headed by Oimeke has broad powers over the sector. It sets retail fuel prices every month and approves electricity tariffs, along with its oversight duties.Kenya, which has East Africa's largest economy, suffers from widespread graft. Government promises to bring hundreds of suspects to account over the last three years have not borne any significant convictions, with many cases stuck court. – Nampa/ReutersBank of Zambia buys goldThe Bank of Zambia will begin buying gold from Canadian miner First Quantum Minerals and the state mining firm as it resumes holding the precious metal as part of its foreign reserves, the central bank governor said on Friday.Zambia became Africa's first pandemic-era sovereign default last month after it failed to pay a coupon on one of its US dollar-denominated bonds."During periods of market stress - when assets would be losing value - gold would be adding value, thereby shielding the whole portfolio from large losses," Bank of Zambia governor Christopher Mvunga said.The Bank also signed a deal to buy gold from state mining investment firm ZCCM-IH's Zambia Gold Company. The governor said he was "delighted" gold from ZCCM-IH will be sourced locally, in local currency. – Nampa/Xinhua

Africa Briefs

Kommentaar

Republikein 2025-04-10

Meld asseblief aan om kommentaar te lewer

Africa Briefs

Kommentaar

Republikein 2025-04-10

Meld asseblief aan om kommentaar te lewer

MELD AAN

Advertensie