The South African Reserve Bank opted on Thursday to leave its key repo rate unchanged at 12%. Governor Tito Mboweni said the turmoil in international financial markets had affected the "balance of risks" for the country's inflation outlook, most significantly relating to oil price and exchange rate developments.

South Africa is maintaining its strong showing in world rankings, with a number of recent international reports supporting the country's strengths as an investment destination.

The ANC supports the continued implementation of black economic empowerment policies in South Africa, says ANC president Jacob Zuma - so long as "they allow for the introduction of new players in the economy and also include the participation of women and the youth."

South Africa's Unemployment Insurance Fund pays beneficiaries about R14-million a day, it says in its latest annual report. "The fund is solvent, in a sound financial position, and this strong performance is projected to continue at the current contribution and benefit rates," says UIF Commissioner Boas Seruwe.

A gas-to-liquids joint venture involving South African state oil company PetroSA won the project innovation of the year award at the Petroleum Economist Awards in London recently - the joint venture's second international award for innovation this year.