Author: Elidee Mays

We’ll send you a myFT Daily Digest email rounding up the latest South Africa news every morning. South Africa’s rolling blackouts have ruined a hot summer for Soweto Creamery, a gourmet ice cream business in Johannesburg’s largest township praised by President Cyril Ramaphosa as a start-up forged in the pandemic. Despite high demand for sweet treats such as the Chocolate Overload and Caramel Canyon, owner Thando Makhubu has burnt cash running a generator for up to 10 hours a day. It is needed to replace the power lost when Eskom, the stricken electricity monopoly, cuts off swaths of demand to…

JOHANNESBURG, Jan 11 (Reuters) – South African rand firmed on Wednesday, as the dollar weakened on global markets with investors awaiting U.S. consumer price data due tomorrow. At 1535 GMT, the risk-sensitive rand ZAR=D3 traded at 16.9800 against the dollar, 0.19% stronger than its previous close. The dollar index =USD, which measures the greenback against six major rivals, was last down about 0.1% at 103.14. “For now, the rand is struggling to find the catalyst to drive the USD-ZAR through strong technical support,” ETM Analytics said in a research note. Markets will look towards U.S. inflation data due on Thursday for cues on the likely path of rates this year…