News in South Africa 24th November: 1. SARB keeps rates on hold: For its final decision of the year, the Monetary Policy Committee left SA’s key interest rate unchanged at 8.25% for a third consecutive meeting, in line with economists’ expectations. This comes after annual consumer price inflation leapt to 5.9% in October from 5.4% […]
News in South Africa 21st November: 1. Sars APN impacts imports: On 1 December, the South African Revenue Service (Sars) will implement new advance payment notification (APN) requirements in a bid to combat illicit cash flows. The changes will impact all import payments valued at R50 000 and above. An APN is an application made by […]
News in South Africa 10th October: 1. Wrong side of the war: The war between Israel and Hamas could be another conflict in which South Africa is deemed to be on the wrong side. In a rand note, Investec Chief Economist Annabel Bishop said that the stronger-than-expected US payroll data saw the rand weaken to […]
News in South Africa 6th October: 1. Cost of living crisis: Economists have flagged South Africa’s fiscal crisis, a weakening rand, and the consequences of poor governance – painting a bleak future for the average South African as the cost of living crisis deteriorates. South African Reward Association member Kirk Kruger said South Africans are […]
News in South Africa 27th September: 1. Government to fail on its promises: South Africa is set to miss all but one of the 2030 development targets its National Planning Commission set just over a decade ago. Of nine targets set in the National Development Plan, ranging from employment to investment, five measures have deteriorated […]
News in South Africa 20th September: 1. Rand stuck at R19/USD: The rand has been stuck at around R19/USD as markets worry about the deterioration in South Africa’s state finances, the risk of a global recession, and the US Federal Reserve’s aggressive monetary policy stance. This is according to Investec chief economist Annabel Bishop, whose […]
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 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 23rd August: 1. Petrol price spike: Vehicle finance group WesBank says that a weaker rand and rising oil prices are converging to deliver a blow to motorists in September. “As September approaches, the convergence of oil prices and the rand/dollar exchange rate assumes paramount significance in shaping local fuel prices,” the […]
News in South Africa 15th August: 1. SA likely to keep AGOA status: South Africa will likely keep its preferential access to US markets because hundreds of American firms are also benefitting, according to the nation’s ambassador to BRICS. “I don’t think there is any serious threat of us losing preferential access to AGOA. AGOA […]
