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 12th December: 1. Stage 7 load shedding already here: As power utility Eskom spent much of last week avoiding the dreaded stage 7 load shedding threshold, economists at the Bureau for Economic Research (BER) said it has already technically been crossed. “At a point last week, Eskom was technically ‘shedding’ at […]
News in South Africa 9th December: 1. SA – US trade issues: South Africa could lose part of its preferential access to the US if its trade policies disadvantage American exporters relative to their developed-nation counterparts, according to people familiar with the matter. Thousands of South African products enter the world’s biggest market duty-free under […]
News in South Africa 19th October: 1. Gauteng – water shortage: South Africa’s major cities in the Gauteng Province – the country’s economic heartland – are experiencing major water shortages. In Johannesburg and Tshwane taps have run dry, with numerous areas experiencing intermittent supply while some areas have no water at all. The province has […]
News in South Africa 18th October: 1. Load shedding back at stage 4: Power utility Eskom has pushed load shedding to stage 4 in the early hours of Tuesday morning (18 October) following more breakdowns at its power stations. Stage 4 will stay in place until further notice, it said. The move was necessary due […]
News in South Africa 17th October: 1. Transnet strike drags on: Workers from the SA Transport and Allied Workers Union (Satawu) have rejected the Commission of Conciliation Mediation and Arbitration (CCMA)’s recommendations to try and solve its wage dispute with Transnet. The CCMA Commissioner proposed a settlement between the two parties on Thursday. Estimates are […]
News in South Africa 12th October: 1. Warning over high meat prices: South Africa’s real gross domestic product (GDP) decreased by 0.7% in the second quarter of 2022. The biggest contributors to this contraction were agriculture, forestry & fisheries, down 7.7%, and pulled lower by a decrease in the production of animal products. Compared to […]
News in South Africa 11th October: 1. R350 grant criteria relaxed: Social Development Minister Lindiwe Zulu has apologised to recipients of the R350 Covid-19 Social Relief of Distress (SRD) grant for problems in its administration after the end of the national state of disaster early in April. She was speaking at a media briefing in […]
News in South Africa 16th September: 1. Eskom wants 32% hike: Eskom plans to apply for a 32% tariff increase from 1 April 2023/24, it announced on Thursday. The large increase is another attempt by Eskom to persuade the National Energy Regulator of SA (Nersa) to grant it tariffs that are reflective of its costs. […]
News in South Africa 13th September: 1. Tough future for Rand: The rand is expected to be beaten around by global markets in the coming months, as inflationary and interest rate pressure from central banks in the US and the European Union continue to dominate global market movements. The European Central Bank (ECB) hiked interest […]
