News in South Africa 17th March: 1. Groceries cost 50% more: Over the past year, overarching factors such as geopolitical unrest, a weaker rand, and persistent and escalating load shedding have elevated food price inflation in South Africa – resulting in most consumers spending almost 50% more on groceries since 2019. This is according to […]
News in South Africa 14th March: 1. Economy battered: According to Stats SA gross domestic product (GDP), the broadest measure of economic activity, declined by 1.3% from the third to the fourth quarter, adjusted for inflation and seasonality. This was much worse than expected and is a big number in absolute terms. It does not take a […]
News in South Africa 7th March: 1. New minister of electricity: President Cyril Ramaphosa has announced changes to his executive – including two new ministries. During a twice-delayed address to the nation on Monday (6 March), the president revealed that Kgosientsho Ramokgopa would be appointed as the country’s new minister of electricity. He also revealed […]
News in South Africa 3rd March: 1. R2.7b solar plant coming to the Eastern Cape: The Nelson Mandela Bay Municipality has announced plans to construct a R2.7 billion solar power plant in the area to help deal with load shedding. The Parsons Power Park project aims to bring 150MW to the area’s grid with the […]
News in South Africa 20th February: 1. Stage 8 incoming: Experts, analysts and even Eskom itself are warning South Africans to brace for higher stages of load shedding. The embattled power utility announced on Sunday night (19 Febraury) that further breakdowns at its power stations have necessitated continuous stage 6 load shedding to be in […]
News in South Africa 13th February: 1. 68% chance of recession: South Africa’s economy is increasingly vulnerable to a recession in the next 12 months, with an ongoing electricity crisis seen further curbing activity. The probability of a recession stands at 68%, up from odds of 45% in January, according to Bloomberg’s latest monthly survey […]
News in South Africa 8th February: 1. Investors abandon SA: Investors have lost faith in South Africa’s government and have halted investment despite a wealth of opportunities, the head of the country’s biggest employer in the crucial mining industry said. More than 200 days of power cuts last year and blackouts every day so far […]
News in South Africa 26th January: 1. Sarb expected to moderate rate hikes: South Africa’s central bank is set to moderate its most aggressive interest-rate hiking cycle in at least two decades Thursday, and economists and traders will be on high alert for any signs of a pivot away from policy tightening. The median expectation […]
News in South Africa 24th January: 1. Over 1 900 business shut down in 2022: Stats SA has published the latest liquidation data for South Africa, showing that company liquidations shot up over 30% in December 2022 year on year – although overall closures for the full year were slightly lower than the year before. […]
News in South Africa 19th January: 1. Eskom diesel nightmare: Eskom is living hand-to-mouth in its efforts to obtain the diesel needed to continue running its open-cycle gas turbines (OCGTs), which, in the face of prolonged power generation outages, is the only way the utility can stave off severe and ongoing curtailment of South Africa’s […]
