News in South Africa 20th December: 1. 20 Durban beaches open: As thousands of holidaymakers are expected to descend on Durban shores for the festive season, eThekwini Municipality Mayor Mxolisi Kaunda has assured visitors and residents that the city’s beaches are safe for swimming. Kaunda gave his assurance as he officially reopened the iconic uMhlanga […]
News in South Africa 3rd October: 1. SA has run out of money: South Africa is facing a severe budget shortfall, and with a stagnant, over-taxed tax base and massive debt, the government has run out of ways to raise more money. This is the warning from the South African Institute of Taxation CEO Keith […]
News in South Africa 5th September: 1. Stage 6 load shedding: Power utility Eskom has announced that load shedding will be escalated to stage 6 indefinitely. With the increase in generation planned maintenance, as well as the loss of a further two generation units on Monday, the utility said that Stage 6 load shedding will […]
News in South Africa 4th September: 1. Social unrest warning: South Africa is at high risk of social unrest due to its high unemployment, rising inequality, and increased lawlessness. PwC senior economist Xhanti Payi told 702 that South African companies will face increased uncertainty and volatility until the country addresses its major social problems. “This is something […]
News in South Africa 4th July: 1. Food supply under threat: PwC has warned that South Africa is at risk of heightened food insecurity with load-shedding, adverse weather, and deteriorating infrastructure disrupting the country’s food supply. This is from the financial advisory firm’s South Africa Economic Outlook, released in June, where it discussed how businesses […]
News in South Africa 6th June: 1. Supermarkets’ diesel bill nears R3bn: The largest supermarket retailers in South Africa have now spent nearly R3 billion on diesel, to enable them to run generators so they could trade through the near-constant load shedding over the past nine months. The bulk of this expense came in the […]
News in South Africa 25th April: 1. SA still an attractive for investors: South Africa, the continent’s most industrialised economy, continues to be an attractive emerging market investment destination for global business leaders, thanks to the continuing presence of “stable governance and a robust legal framework”. This is according to findings contained in Kearney’s 2023 Foreign […]
News in South Africa 20th December: 1. Reserve Bank was hacked: Finance minister Enoch Godongwana recently revealed that the South African Reserve Bank suffered an attempted hack. The revelation was very late, with the attempt taking place in August (four months ago), but the media and South Africans only found out in the past week. […]
News in South Africa 21st September: 1. Eskom to burn R17bn in diesel: As part of Eskom’s updated assumptions for its tariff application for next year, the utility has said it plans to use R16.8 billion of diesel in its next financial year, which starts in April. This is a substantial increase from the amount […]
News in South Africa 5th April: 1. State of disaster over: On Monday night, co-operative governance minister Nkosazana Dlamini Zuma terminated South Africa’s national state of disaster on Covid-19, fulfilling the promise made by President Cyril Ramaphosa in an address to the nation just hours before. In a notice in the Government Gazette, Dlamini Zuma said she […]
