News in South Africa 28th November: 1. Over 1000 businesses closed in 2023: Data from Stats SA shows that 136 businesses closed their doors in October. According to Stats SA, the 120 businesses closed down voluntarily, while 16 did so on a compulsory basis. This means that over 1,376 businesses have been liquidated since the […]
News in South Africa 22nd November: 1. Inflation rises ahead of SARB decision: South Africa’s annual consumer price inflation (CPI) rose slightly in October, reaching the upper end of the South African Reserve Bank’s (SARB) target range. StatsSA announced today that annual CPI was 5.9% in October 2023, up from the 5.9% recorded in September […]
News in South Africa 3rd October: 1. SA has run out of money: South Africa is facing a severe budget shortfall, and with a stagnant, over-taxed tax base and massive debt, the government has run out of ways to raise more money. This is the warning from the South African Institute of Taxation CEO Keith […]
News in South Africa 27th June: 1. South Africans severely indebted: South Africans are among the most indebted people in the world, with as much as 73% of disposable household income servicing debt repayments. Credit abuses and frailties in the legislative framework, compounded by financial illiteracy, leave borrowers vulnerable to manipulation by lenders. This is […]
News in South Africa 12th May: 1. Cyril investigates arming Russia allegations: South African President Cyril Ramaphosa instituted an inquiry into allegations that the country supplied weapons and ammunition to Russia, despite Pretoria having taken a neutral stance on its invasion of Ukraine. Ramaphosa announced the probe on Thursday, hours after US Ambassador to South […]
