Author: The Editorial Team

PRETORIA (Reuters) – Spending in South Africa grew at an annualised 0.3 percent in the fourth quarter of 2014 after rising 3.2 percent in the prior quarter, with slowed government spending offsetting accelerated growth in household spending, the central bank said on Tuesday.The Reserve Bank said in its quarterly bulletin that spending by the government increased at an annualised 1.0 percent in the final quarter against 1.4 percent in the third quarter.However, household spending grew…

LONDON (Reuters) – South Africa’s mining minister said on Monday he expected to start issuing shale exploration licences later this year.”At the moment we are going through the consultation process (with stakeholders such as communities),” Ngoako Ramatlhodi told Reuters on the sidelines of the Chatham House extractive Industries in Africa conference.”We should finish the consultations by the middle of this year and that will enable us to issue licences.”Earlier in the day, Royal Dutch Shell…

JOHANNESBURG (Reuters) – South Africa’s rand was slightly softer against the dollar early on Tuesday with scope to weaken further should a central bank report show a wider-than-expected current account deficit.The local unit tends to be hit harder than its peers when investors bail out of emerging markets which offer higher yields but are perceived to carry greater risk.At 0632 GMT the rand traded at 12.4180 to the dollar, down 0.19 percent from where it…