News in South Africa 31st August: 1. Crypto industry crashing: Nearly 5 000 crypto employees have lost their jobs since April, reflecting the crushing $1.9 trillion (R32 trillion-plus) loss in the market value of cryptocurrencies since the peak in November 2021. Data from CryptoPresales.com shows June was the most brutal month, accounting for more than 60% of the […]
News in South Africa 30th August: 1. Rampant inflation to stay: The message from the world’s top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a recession with job losses and shockwaves through emerging markets. That price is still worth paying, […]
News in South Africa 29th August: 1. Good news for petrol and food prices: Consumers are in for a reprieve in the coming months in South Africa as economic indicators point to food price inflation stabilising, while end-month data from the Central Energy Fund shows a likely petrol price cut for September. Stats SA published […]
News in South Africa 25th August: 1. Food expenses cut by 47%: The latest Household Affordability Index by the Pietermaritzburg Economic Justice & Dignity group (PMBEJD) shows a continued rise in food items in August in South Africa – meaning less money in the pockets for consumers. This has led to families underspending on food […]
News in South Africa 24th August: 1. Vehicle industry slashing jobs: Automakers from General Motors to Toyota are on a mission to phase out gasoline vehicles. And while a future full of clean, electric cars will help reduce harmful emissions and stunt climate change, it may spell disaster for the thousands of auto workers whose jobs will be rendered […]
News in South Africa 23rd August: 1. Eskom gears up for renewables: Eskom is working with the South African Renewable Technology Centre (SARETEC) to upskill its workers and adapt to the shift to renewable energy, moving away from coal power stations. On Monday (22 August), the national power utility signed a memorandum of agreement with […]
News in South Africa 18th August: 1. Latest debt index and stagnant incomes: Most South Africans have 34% less purchasing power in 2022 compared to 2016 because of stagnant incomes and cumulative inflation growth, according to the latest Debt Index. South Africans, especially the middle class, are suffering from stagnant incomes, which aren’t able to […]
News in South Africa 17th August: 1. Investment in woman-owned businesses: The Mineworkers Investment Company (MIC) wants to invest R150 million in emerging black-owned businesses. The MIC, through its venture capital initiative, MIC Khulisani Ventures, has launch the second window of applications to support what it calls high growth potential and innovative businesses. It is offering […]
News in South Africa 16th August: 1. New border laws: The Department of Home Affairs has announced the commencement of South Africa’s new border management laws, which take effect this week. The Border Management Authority (BMA) Act has taken effect from Monday, 15 August, with most sections commencing, according to Home Affairs minister, Aaron Motsoaledi. […]
News in South Africa 15th August: 1. JHB School fees could soar: The City of Johannesburg’s sudden decision to reclassify school properties, thereby raising payable rates eight-fold, will have a devastating impact on pupils in the metro, according to organisations challenging the change. Every year, the Gauteng Department of Education is faced with a scramble […]
