News24 South Africa

South African markets closed in the green yesterday, supported by strong performance in the telecommunications sector. Telecommunications companies, MTN Group, Vodacom Group, Telkom SA SOC and Blue Label Telecoms surged 10.6%, 3.7%, 1.3% and 0.9%, respectively.

South African public sector workers voiced optimism of reaching a pay deal with the government after it improved the offer to 5% from 4.7%.

Traders scaled back their bets for South Africa's interest rate cuts this year, with markets now pricing in only one as they decipher the Federal Reserve's preference to move more slowly on rates and US president-elect Donald Trump's path on tariffs.

A court has slapped down the argument of a Johannesburg apartment owner who said his body corporate couldn't disconnect his electricity for non-payment due to his Constitutional rights – saying no such loophole exists.

The Western Cape has seen a "dramatic decrease" in the number of underperforming schools in the province, according to Western Cape Education MEC David Maynier, and has recorded its highest matric pass rate to date.

While political parties generally responded positively to the matric results and highlighted the socio-economic difficulties many matriculants had to overcome, BOSA accused the DA of hypocrisy.

Six more bodies of illegal miners were recovered from Stilfontein mine on Tuesday.

Chinese officials are evaluating a potential option that involves Elon Musk acquiring the US operations of TikTok if the company fails to fend off a controversial ban on the short-video app, according to people familiar with the matter.

Namibia’s promising oil story was dealt a hapless blow last week when Shell wrote off some R7.6 billion it invested in exploration off the coast of the neighbouring African country.

Deputy Minister of Basic Education Reginah Mhaule has attributed the country's record-setting 87.3% matric pass rate in the 2024 exams to an education system that is "strengthening and maturing by the day".