News in South Africa 15th March: 1. Big risks ahead for businesses: Risks to business in South Africa are changing rapidly, and it’s keeping insurers awake at night, says Lizo Mnguni, spokesperson for Old Mutual Insure. Such risks are likely to impact the insured during 2023 and significantly affect those that do not have any […]
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 3rd March: 1. R2.7b solar plant coming to the Eastern Cape: The Nelson Mandela Bay Municipality has announced plans to construct a R2.7 billion solar power plant in the area to help deal with load shedding. The Parsons Power Park project aims to bring 150MW to the area’s grid with the […]
News in South Africa 28th February: 1. Plans for stage 16 load shedding: Last week, Eskom System Operator GM Isabel Fick admitted that it is working with the National Energy Regulator of South Africa (Nersa) on preparing schedules beyond Stage 8. This was confirmed later by acting head of generation Thomas Conradie on Saturday, who said guidelines […]
News in South Africa 27th February: 1. Greylisting aftermath: The Financial Action Task Force (FATF) placed South Africa on its grey list on Friday. It was almost inevitable. The global anti-money laundering watchdog first warned the country of this possibility four years ago, in 2019, saying that there were severe deficiencies in our standards to fight […]
News in South Africa 23rd February: 1. Calib Cassim new Eskom CEO: Ailing state-owned power utility Eskom has appointed Calib Cassim as acting CEO following André de Ruyter’s immediate departure this week. Cassim’s appointment is effective immediately. “Eskom is pleased to announce the appointment of Calib Cassim as interim group chief executive officer with immediate […]
News in South Africa 22nd February: 1. Finance budget speech today: Finance minister Enoch Godongwana will on the 22 February 2023 (today) deliver his budget speech. Child support grant: Human rights group Black Sash has called for the National Treasury to double the cost of the child support grant from R480 to over R800. The […]
News in South Africa 21st February: 1. R1.2b plan to stop load shedding: The provincial government of Gauteng has announced that it will release R1.2 billion towards the energy crisis alongside various other initiatives aimed at mitigating load shedding. Other considerations include the installation of smart meters for heavy electricity consumers, with the aim of […]
