News in South Africa 7th February: 1. 100 consecutive days of load shedding: Energy minister Gwede Mantashe says that the ongoing energy crisis in South Africa is an “irritation” to society, and if it is not resolved, it could lead to a revolt among the populace. Speaking at the Investing in Africa Mining Indaba on […]
News in South Africa 6th February: 1. Eskom – state of disaster: The call by the ANC for a state of disaster to be declared over the energy crisis has alarmed many across society. Organised business was also surprised by the announcement, given that only a few months ago the president said a state of disaster […]
News in South Africa 3rd February: 1. Water supply a major concern: As load-shedding intensified on Wednesday there were concerns that Gauteng municipalities which suffered from water shortages would again have more communities with dry taps. On Wednesday the power utility implemented stage 6 load-shedding from stage 5 the previous day. The utility again moved to stage […]
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 24th January: 1. Over 1 900 business shut down in 2022: Stats SA has published the latest liquidation data for South Africa, showing that company liquidations shot up over 30% in December 2022 year on year – although overall closures for the full year were slightly lower than the year before. […]
News in South Africa 23rd January: 1. Interest rate decision: South Africa’s Monetary Policy Committee (MPC) will hold its first meeting of the year to decide on interest rates on Thursday, and while economists agree that the central bank will continue to hike rates, they are split on the size of the increase. Last year was […]
News in South Africa 20th January: 1. Four day work week debate: The four-day workweek, and the flexibility it could provide, is a hot topic at the annual World Economic Forum in Davos, Switzerland, this year. This comes shortly after the results of a six-month trial on the subject were released. It found participating companies had increased revenue and […]
News in South Africa 19th January: 1. Eskom diesel nightmare: Eskom is living hand-to-mouth in its efforts to obtain the diesel needed to continue running its open-cycle gas turbines (OCGTs), which, in the face of prolonged power generation outages, is the only way the utility can stave off severe and ongoing curtailment of South Africa’s […]
News in South Africa 18th January: 1. Food shocker due to load shedding: The price of some staple food groups is expected to rise as load shedding takes its toll on the agricultural sector, says Christo van der Rheede, an executive director at Agri SA. Speaking to 702, Van der Rheede said that load shedding is […]
