News in South Africa 27th July: 1. Ramaphosa’s Eskom solutions: Eskom will on an urgent basis in the next three months accelerate efforts to add new generation capacity to its faltering grid. The intervention was among a raft of energy security plans for the country announced by president Cyril Ramaphosa during an address to the […]
News in South Africa 26th July: 1. The ‘real’ value of the rand: The Economist has updated its Big Mac Index for mid-2022, showing how the rand continues to be one of the most undervalued currencies globally, relative to the US dollar. The Big Mac Index is an initiative created by The Economist that aims […]
News in South Africa 25th July: 1. No break for taxpayers: More than 30 tax offices across the country remained closed on Thursday (21 July), with the South African Revenue Service (Sars) acknowledging delays in servicing taxpayers due to the strike by its unionised workers. Despite admitting delays, Sars says it does not envisage changing […]
News in South Africa 21st July: 1. Inflation at 13 year high: The average rate of consumer price inflation (CPI) for South Africans hit 7.4%, StatsSA said on Wednesday, the highest seen in 13 years. But that was nothing compared to the increases in some prices, making for a much harder hit depending on your fondness […]
News in South Africa 13th July: 1. New crypto laws: The South African Reserve Bank is set to introduce new regulations around trading cryptocurrency in the country in the next 12-18 months, says deputy governor Kuben Naidoo. Speaking in PSG’s latest Think Big webinar, Naidoo said that South Africa was largely on par with other […]
News in South Africa 12th July: 1. Standard Bank drops mandatory vaccines: Standard Bank has withdrawn its Covid-19 vaccination policy with immediate effect, with approximately 95% of its employees already vaccinated. In an emailed statement, the bank said it took a range of factors into account in reviewing its policy, including recent regulatory developments, the […]
News in South Africa 11th July: 1. Riot risks rising: Top business and government officials have warned that South Africa is set to face a repeat of the July 2021 riots as very little has been done to address the issues facing the country over the last year. Business Unity South Africa chief executive Cas […]
News in South Africa 6th July: 1. Rand at same level as Covid peak: On Tuesday, the rand slumped to its weakest level against the dollar since 2020 as global investors took fright. In early evening trading, the rand was trading at R16.58/$, more than a percent weaker than on Monday. The rand was stronger […]
News in South Africa 5th July: 1. Planned petrol price changes: Director of fuel pricing mechanism at the Department of Energy, Robert Maake, says the government is working on several regulatory changes to address South Africa’s high petrol price. Speaking to radio station 702, Maake said this includes: The possible introduction of a price cap; A […]
News in South Africa 4th July: 1. Basic food prices up 15%: The latest Household Affordability Index from the Pietermaritzburg Economic Justice & Dignity Group shows that the price of a basic household food basket is up by 13.6% year-on-year in June. This basket now costs R4 688 and is a R560 increase from a year ago. […]
