News in South Africa 18th September: 1. Transnet costing economy R1bn daily: Last week, the Durban Chamber of Commerce and Industry called on Public Enterprises Minister Pravin Gordhan to remove Transnet CEO Portia Derby and other key executives, claiming their lack of service delivery is sabotaging business. This is the latest broadside against the state-owned […]
News in South Africa 15th September: 1. New SOE plan proposal: A radical new model for SA’s troubled state-owned enterprises (SOEs) could be on the cards, with the approval this week of the draft National State Enterprises Bill, which would lay the basis for private equity investment in state companies and listings on the stock […]
News in South Africa 13th September: 1. Stage 6 load shedding: South African electricity outages remain at record levels despite the state power utility burning through vast quantities of diesel to bolster output. Eskom said Tuesday that Stage 6 power cuts, whereby 6,000 megawatts of capacity is removed from the grid to prevent a total […]
News in South Africa 12th September: 1. 200 000 public job cuts: President Cyril Ramaphosa has called an urgent but long overdue meeting with organised labour for Tuesday, as the possibility of a further wage freeze, job cuts, and more cuts to government services hang over the country. Federations were urgently advised of the meeting […]
News in South Africa 11th September: 1. SA losing $62bn annually to illegal imports: South Africa is losing more than $62 billion a year because of illicit financial flows (IFFs), which could be used to fund the building of schools, hospitals and safer roads. This was highlighted at a conference on increased illegal trading in […]
News in South Africa 7th September: 1. Worst areas for crime in SA: Although crime ticked downward in South Africa in the first quarter of 2023, the numbers still remain alarmingly high, with several neighbourhoods highlighted as being more dangerous than others. The latest South African Polic Service (SAPS) crime stats from April to June […]
News in South Africa 6th September: 1. Households at breaking point: Households in South Africa have been hit by a “tsunami” of cost pressures, with the two biggest sources of energy now threatening to push many over the edge. The cost of petrol and diesel have shot up dramatically from today (Wednesday, 6 September), increasing between […]
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 29th August: 1. Over 900 businesses closed in 2023: Data from Stats SA shows that 140 businesses in South Africa were liquidated in July. According to Stats SA, the 127 businesses closed down voluntarily, while 13 did so on a compulsory basis. This takes the total number of liquidations in South […]
