News in South Africa 20th February: 1. Rand weakens: The rand has weakened with the market worried about South Africa’s marked fiscal slippage. In the 2023 Medium-Term Budget Policy Statement (MBTPS), gross debt was projected to peak at 77.7% of GDP in 2025/26, far higher than February 2023’s Budget estimate of 73.6%. Investec Chief Economist […]
News in South Africa 12th February: 1. Budget Speech incoming: Budget Speech season is here and based on Finance Minister Enoch Godongwana’s mid-term presentation, we can expect many complex challenges to be unpacked. Godongwana has projected that the government will miss its revenue targets by nearly R57 billion for the 2023/24 tax year, and then […]
News in South Africa 21st December: 1. Festive road fiasco: South Africa’s roads are hazardous, more so over the festive season when dangers multiply with more motorists reported to be driving under the influence. In one week alone, the Western Cape recorded a more than 300% increase in drunken driving arrests, with other provinces echoing […]
News in South Africa 19th December: 1. Severe water shortages: Minister of Water and Sanitation, Senzo Mchunu, has pleaded with residents of Gauteng to reduce their water consumption as the water supply remains vulnerable to disruptions and may not be able to meet demand, resulting in shortages. Johannesburg and its surrounds have been hit by […]
News in South Africa 12th December: 1. NHI means more tax and less benefits: The National Health Insurance (NHI) Bill last week got the nod from the National Council of Provinces and has now been plonked in the lap of President Cyril Ramaphosa. Other than expropriation without compensation, few statutory artefacts have elicited such exasperation from those […]
News in South Africa 11th December: 1. South Africa’s 2023 in review: With 2023 coming to a close, Business Leadership South Africa CEO Busiswe Mavuso has looked at the progress South Africa has made during the year and the setbacks. The good Despite a record year of load shedding, there has been progress in the […]
News in South Africa 20th October: 1. Tax filing season starts: The first deadline for the 2023 tax filing season is Monday (23 October), when non-provisional taxpayers must submit their annual tax returns. Taxpayers with more complicated financial affairs or different income streams have until 24 January next year. Taxpayers who have been auto-assessed but […]
News in South Africa 22nd August: 1. Missteps impact country growth: South Africa is suffering a death by 1,000 cuts from repeated own goals, such as the country’s elevated load-shedding levels, logistical inefficiencies, and financial greylisting. Standard Bank CEO Sim Tshabalala told Newzroom Afrika that the negative impact of repeated missteps by South Africa is […]
News in South Africa 30th June: 1. SA – dangerous and violent: The Institute of Economics and Peace (IEP) published its Global Peace Index (GPI) for 2023, showing South Africa is less peaceful than a year ago – dropping eight places in the rankings. South Africa also now ranks as the 20th worst country in […]
News in South Africa 21st June: 1. Sharp rise in riots: The Institute of Risk Management South Africa (IRMSA) has published the 9th Edition of the Annual Risk Report, sounding a new alarm on the various crises hitting South Africa. Among the biggest risks the country faces is growing social unrest, with the group already […]
