South Africa Embassy Sofia Bulgaria

Listed food manufacturer Pioneer Foods has apologised to the South African public for its anti-competitive activities, saying the appointment of a new board signalled a new chapter in the company's history.

In a boost for local e-commerce, a new partnership between First National Bank and PayPal will enable South Africans to sell to PayPal's global customer base and move the proceeds to their qualifying FNB accounts - without having to share their personal or financial information online.

Thursday's interest rate cut will make South African property more affordable, especially for buyers in the lower to mid-price levels, says Jawitz Properties CEO Herschel Jawitz.

The South African Reserve Bank caught most economists by surprise on Thursday when it cut its key repo rate by 50 basis points to 6.5 percent, taking the country's prime lending rate down to 10 percent.

Nissan South Africa is helping its local parts suppliers to enter into technical cooperation agreements with overseas suppliers in order to remain globally competitive and, ultimately, to enhance the local content level of vehicles made in South Africa.

Global pulp and paper group Sappi has announced a black economic empowerment deal that will see approximately 4.5% of the company, worth about R814-million, being transferred to employees, black managers, a community foundation and strategic partner companies.