News in South Africa 31st October: 1. Election clean up: South Africans should use next year’s elections to vote out “useless” politicians who have failed to prioritise jobs and drive investment, and choose leaders who will get the struggling economy back on track, according to one of the country’s top bankers. “You have to have […]
News in South Africa 30th October: 1. Midterm budget this week: As Minister of Finance, Enoch Godongwana prepares to deliver his mid-term budget speech this week, he said that if the country doesn’t cut expenditure and increase borrowing, it will be out of cash by the end of March 2024. He made the comments at […]
News in South Africa 27th October: 1. Warning signs for inflation: Producer price inflation (PPI) has grown, spelling bad news for South African consumers at the tills. According to Stats SA, September’s headline PPI increased from 4.3% in August to 5.1% in September – slightly worse than the Bloomberg consensus of 5.0%. The main contributors […]
News in South Africa 25th October: 1. Tax breaks for inverters and batteries: Electricity Minister Kgosientsho Ramokgopa said the government wants more businesses and households to opt for rooftop solar, and efforts are under way to push for a tax incentive to be extended to inverters and batteries part of solar PV systems. The minister […]
News in South Africa 20th October: 1. Tax filing season starts: The first deadline for the 2023 tax filing season is Monday (23 October), when non-provisional taxpayers must submit their annual tax returns. Taxpayers with more complicated financial affairs or different income streams have until 24 January next year. Taxpayers who have been auto-assessed but […]
News in South Africa 18th October: 1. Water infrastructure collapse: South Africa’s deteriorating water infrastructure threatens to plunge the country into widespread social unrest as taps run dry in some of the country’s largest cities. This is feedback from water expert and University of the Free State professor Dr Anthony Turton, who told Newzroom Afrika that “we […]
News in South Africa 17th October: 1. Food insecurity warning: The number of people unable to meet their minimum food consumption needs in South Africa is expected to marginally decline to just under one in two by 2025, according to the World Data Lab. The firm, which conducted research for Shoprite Holdings Ltd.’s food index, […]
News in South Africa 16th October: 1. Population grows – economy falls: The most notable figure in the 2022 census of SA’s population is confirmation that the population increased to above 62 million people, which is close to 20% higher than in the previous census 10 years ago. An immediate thought that comes to mind is that […]
News in South Africa 12th October: 1. Foreigners flee SA stocks: Foreign investors have accelerated their (net) selling of equities on the JSE, with sales 40% greater thus far in 2023 than in the same period in 2022. To last Friday, non-SA investors sold a net R103 billion of equities, versus R73 billion in the […]
News in South Africa 11th October: 1. SA is falling apart: South Africa is falling apart, with unreliable electricity, poor railways, ports which do not function properly, a dilapidated road network, and deteriorating state finances. Late last month, Transnet CEO Portia Derby and CFO Nonkululeko Dlamini resigned, with Transnet Rail CEO Siza Mzimela following suit […]
