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The financial rand system provided for two exchange rates for the rand — one for current account transactions and one for capital account transactions for non-residents. [4] Investments made in South Africa by non-residents could only be sold for financial rand, and limitations were placed on the convertibility of financial rand into foreign ...
The rand takes its name from the Witwatersrand ("white waters' ridge" in English, rand being the Afrikaans (and Dutch) word for 'ridge'), the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found. In English and Afrikaans (and Dutch), the singular and plural forms of the unit ("rand") are the same: one ...
There was a News Film Unit which, prior to television in 1976, produced films for news agencies and television organisations. In 1998, the SABC began to broadcast two TV channels to the rest of Africa: SABC Africa, a news service, and Africa 2 Africa, entertainment programming from South Africa and other African countries, via DStv . [ 1 ]
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The Common Monetary Area (CMA) links South Africa, Namibia, Lesotho and Eswatini into a monetary union.The Southern African Customs Union (SACU) includes all CMA members in addition to Botswana, which replaced the rand with the pula in 1976 as a means of establishing an independent monetary policy.
[10] [11] Publications such as the Financial Mail and Allan herself speculated that the De Klerk government paid the defence witnesses in an attempt to destabilise the far-right in South Africa. [12] Shaw recounted her editor, Ken Owen's reaction to the case: "When I came back from London. Owen stood in the middle of the newsroom and said: 'You ...
In April 1998, RMH entered into an agreement with Anglo American Corporation of South Africa (now Anglo American plc) to merge their financial services into a unified group. [11] This merger gave rise to First Rand and was listed on the Johannesburg Stock Exchange on May 25, 1998, with Anglo American and RMH owning 20.43% and 25.03% of the ...