South African Team Runner Up in Mozilla’s Equal Rating Innovation Challenge: Afri-Fi: Free Public WiFi has been announced as the “Runner-Up” in Mozilla’s Equal Rating Innovation Challenge (www.EqualRating.com) with a funding award of US$ 75,000. With this global competition, Mozilla (www.Mozilla.org) called for creative and scalable ideas to provide affordable access to the full diversity of the open internet. Mozilla offered awards, totaling USD 250,000 in funding and expert … [Read more...] about South African Team Runner Up in Mozilla’s Equal Rating Innovation Challenge
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President Zuma congratulates team South Africa for maintaining sovereign rating status
President Zuma congratulates team South Africa for maintaining sovereign rating status: President Jacob Zuma has congratulated government, business, labour and all South Africans after three major credit rating agencies kept South Africa’s sovereign debt credit rating status above junk status. “We congratulate Team South Africa particularly government, business and labour for ensuring that the country’s sovereign debt credit rating status is not downgraded to junk … [Read more...] about President Zuma congratulates team South Africa for maintaining sovereign rating status
Government comments on Moodys ‘just above junk’ rating
South Africa's credit-rating outlook was cut to negative by Moody's Investors Service, which said the country faces a prolonged period of slow growth and increasing political pressures. Moody's lowered the outlook from stable and maintained the country's credit grade at Baa2, the second-lowest investment grade. Last week President Jacob Zuma shocked global investors and raised concern over the credibility of his economic policies by replacing Nene with a little-known lawmaker, David van … [Read more...] about Government comments on Moodys ‘just above junk’ rating
Slow GDP and long term strikes given as reasons for lower SA financial ratings
National Treasury says it has noted the decision announced by Standard and Poor's (S&P) Ratings Agency to revise down the country's outlook. S&P lowered South Africa's long-term foreign currency credit rating to 'BBB-' from 'BBB' and the long-term local currency rating to 'BBB+' from 'A-'. In addition, S&P has revised South Africa's outlook to stable from negative. The ratings agency said the main reasons for revising down South Africa's rating arise largely from slow Gross … [Read more...] about Slow GDP and long term strikes given as reasons for lower SA financial ratings
Executive Mayor’s Full State Of The Metro Address
On 11 April 2014 the Nelson Mandela Bay Metropolitam Mayor, addressed invited guests and media, in the Feathermarket Hall, on the State of the Metro. This is his full unabridged speech: (Click here to rate the SOMA Address) Good Evening, Molweni, Goeienaand Firstly, I wish to pay tribute to a hero and heroine of the struggle who passed on yesterday. I refer to Mrs Mthimkulu, the mother of the former leader of the Congress of South African Students, Siphiwo Mthimkulu, and Oom Joe … [Read more...] about Executive Mayor’s Full State Of The Metro Address
Third consecutive Level 4 rating for local automotive giant
A Level 4 rating (100% contribution level) for its 2011 Broad-Based Black Economic Empowerment (B-BBEE) scorecard has once again been awarded to UItenhage based Volkswagen Group South Africa. Nonkqubela Maliza, Director of Corporate and Government Affairs at Volkswagen Group South Africa made the announcement on Wednesday, saying the rating by an independent agency was the result of the company's on-going commitment, detailed planning and systematic implementation over the past five … [Read more...] about Third consecutive Level 4 rating for local automotive giant
Moody’s maintains Aa3.za rating for the Nelson Mandela Bay Municipality
The renowned global credit rating agency Moody's Investors Service maintained the Nelson Mandela Bay Municipality's credit rating for 2010 'underpinned by its strengthening financial performance and commitment to fiscal consolidation following cash flow problems in the year'. This was part of a report presented before the Standing Committee on Budget and Treasury held at City Hall yesterday. Among other things expressed in the rating rationale, the rating agency noted the diversified and … [Read more...] about Moody’s maintains Aa3.za rating for the Nelson Mandela Bay Municipality
