News in South Africa 14th October: 1. Mid-term budget policy statement postponement: The letter requesting a week’s delay of the Medium-Term Budget Policy Statement (MTBPS) from Finance Minister Tito Mboweni to National Assembly Speaker Thandi Modise arrived after hours on Tuesday evening. Analysts say this is a worrying sign of the grim financial reality the […]
News in South Africa 13th October: 1. UIF running out of money: In a report released last month, the Auditor-General outlined that Unemployment Insurance Fund’s (UIF’s) Covid-19 Temporary Employer-Employee Relief Scheme (Ters) payments were made to dead people, children, prisoners as well as foreigners who had no made contributions to the fund for 12 months. […]
News in South Africa 12th October: 1. Ramaphosa economic recovery plan: President Cyril Ramphosa has called a joint sitting of both houses of Parliament to outline his plan for “South Africa’s economic reconstruction and recovery plan”. Ramaphosa wrote to National Assembly Speaker Thandi Modise and National Council of Provinces (NCOP) Chairperson Amos Masondo about his […]
News in South Africa 8th October: 1. Pick n Pay warns of profit fall: Pick n Pay warned that its headline profit will fall by between 50% and 60% in the six months to end-August. Core retail sales – including food, groceries and general merchandise, but excluding liquor, clothing and tobacco – grew 8.7% year-on-year […]
News in South Africa 7th October: 1. Unions strike today: Union federations are expected to strike today, disrupting business and services across all sectors. The unions are protesting government’s failure to honour wage agreements, corruption and looting of state resources, and inadequate protections against Covid-19 in the workplace. Services such as health care and education […]
News in South Africa 6th October: 1. Health department under scrutiny: The Gauteng government is facing increasing scrutiny over its health infrastructure spend. The pressure is such that Premier David Makhura is reported to be planning a press conference on Thursday 8 October at Chris Hani Baragwanath Hospital to provide “a comprehensive update of all […]
News in South Africa 5th October: 1. Cosatu to strike from Wednesday: As the Congress of South African Trade Unions (Cosatu) prepares to lead protests against corruption and other issues across the country this week, its leaders have dismissed suggestions that the action will be detrimental to the economy. Between April and June, 2.2 million South Africans […]
News in South Africa 2nd October: 1. Sasol to sell 50% of US project: Sasol has agreed to sell a 50% stake in its US base chemicals business to LyondellBasell Industries for $2 billion to help pay down debt. The unit will become a joint venture between the South African company and the US chemicals […]
