News in South Africa 14th August: 1. Economy likely to grow: South Africa’s economy probably avoided a contraction in the second quarter, despite record power cuts, logistical constraints and sagging consumer confidence. In the view of analysts polled by Bloomberg Aug. 4-10, the economy stagnated quarter-on-quarter, compared with a forecast for a 0.1% contraction last […]
News in South Africa 11th August: 1. SA R500 billion in debt: South Africa will need to borrow R500 billion over the next year, or R2 billion per weekday on average, to fund its current fiscal deficit and refinance maturing debt. This increases the risk of investing in the country and increases borrowing costs for […]
News in South Africa 9th June: 1. South Africa risks losing R613 billion: South Africa stands to lose as much as $32.4 billion in export revenue, almost a 10th of its gross domestic product, should some of its main trading partners retaliate against its unwillingness to take a stance against Russia’s war in Ukraine. “Together, […]
News in South Africa 7th June: 1. Eskom tames load shedding: Power utility Eskom says that recoveries in generation capacity will allow it to suspend load shedding every day until the evening peak. The group said that load shedding will be suspended between midnight and 16h00 on Tuesday (6 June), followed by stage 3 load […]
News in South Africa 5th June: 1. Food security and riots warnings: The Consumer Goods Council of South Africa has warned of food shortages which can lead to a repeat of the July 2021 riots which ravaged parts of KwaZulu-Natal and Gauteng. Zinhle Tyikwe, CEO of the Consumer Goods Council, told Business Day TV that around 50% […]
News in South Africa 26th May: 1. Rand plunged to new record low: The rand crashed to a new record low overnight, reaching R19.8279/$ on Thursday night. The currency has now lost almost 26% of its value over the past year. In the past two weeks alone, since the US accusation that Russia received arms […]
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 13th March: 1. South Africa is in trouble: Whether South Africa is pushed into a full recession in 2023 or not, the country’s economy is in trouble, say economists at the Bureau for Economic Research (BER). The country was hit with a barrage of bad news last week – starting with […]
News in South Africa 8th March: 1. Recession looms: South Africa is on the edge of recession after printing a much more larger than expected contraction in gross domestic product (GDP) on Tuesday (7 March). According to the figures published by Stats SA, the country’s economy declined by 1.3% in the fourth quarter of 2022 […]
News in South Africa 10th February: 1. SONA 2023 disappointing: Reactions to president Cyril Ramaphosa’s State of the Nation Address are flooding in, with most commentators left wanting. Ramaphosa delivered his by-the-numbers address on Thursday evening (9 February), featuring all the qualities South Africans have come to expect from the annual event. Proceedings were disrupted […]
