News in South Africa 14th February: 1. Rand crashes through R18/$: The rand is trading on the wrong side of R18/$ for the first time in more than three months, as expectations grow that US interest rates may still climb much higher. On Monday morning, the local currency declined to R18.06/$, after trading around R17.50 […]
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 25th January: 1. R1.2trn needed for food import costs: Farmers in Africa will need as much as $65 billion (nearly R1.2 trillion) in loans annually to produce enough food to curb imports and cushion their economies from external shocks. The continent imports over 100 million metric tons of cereals at an […]
News in South Africa 12th January: 1. Load shedding to damage infrastructure: Raised levels of load-shedding are a crisis for the Tshwane municipality, affecting the condition of its electricity network and its ability to attend to outages. City of Tshwane MMC for utilities and regional operations Daryl Johnston made this comment on Wednesday after Eskom […]
News in South Africa 4th January: 1. Petrol price drop: Motorists can breathe a sigh of relief this week with petrol and diesel prices seeing a substantial drop in the price from Wednesday, 4 January. However, households will remain under pressure due to high food costs, analysts warn. Petrol prices will be coming down by […]
News in South Africa 22nd December: 1. Load shedding filled holidays: South Africans are set for a bleak, load-shedding-interrupted ‘festive’ season as Eskom’s generating output plummets to completely new lows. At Tuesday evening’s peak, it wasn’t even able to output 23 000MW in total. This forced unprecedented overnight Stage 6 load shedding so that it […]
News in South Africa 21st December: 1. Minimum wage changes: Early in 2023, South Africa could have a new medium-term target for what the minimum wage should be. But it will not be a rand amount. Instead it will be a statement of intent – and a guarantee that minimum-wage earners will never fall behind […]
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 14th December: 1. Expected food prices in 2023: The latest food inflation brief from the Bureau for Food and Agricultural Policy (BFAP) shows that food prices in South Africa remain at elevated levels and that consumers should expect higher prices going into next year. Reflecting the higher levels of food inflation […]
News in South Africa 13th December: 1. Flooding disaster: Disaster management teams in KwaZulu-Natal are on high alert as the province continues to experience heavy rains amid fears that the region could face another flood disaster. The province was hit by large floods in April and May with damage to infrastructure worth an estimated R25 billion. […]
