News in South Africa 30th September: 1. Eskom employee wage increase: Eskom, which is under unprecedented financial strain, received another blow on Thursday when the CCMA awarded employees a further 1.5% wage increase, backdated to July 2021. The company is under unprecedented economic strain as it burns millions of litres of diesel a day to […]
News in South Africa 23rd September: 1. Load shedding threatens food supply: Agri SA says it has requested an urgent meeting with Eskom CEO Andre de Ruyter to discuss the outlook for load shedding in the country, ahead of the summer crop planting season. The federation of agricultural organisations says it fears the current state […]
News in South Africa 16th September: 1. Eskom wants 32% hike: Eskom plans to apply for a 32% tariff increase from 1 April 2023/24, it announced on Thursday. The large increase is another attempt by Eskom to persuade the National Energy Regulator of SA (Nersa) to grant it tariffs that are reflective of its costs. […]
News in South Africa 12th September: 1. Load shedding adverse effects: South Africa’s plans to add 5,200MW of renewable energy to its grid faces pressure from a perfect storm of global events, which will push up prices and hamper progress. Business Leadership South Africa chief executive officer Busi Mavuso said that South Africa risks falling […]
News in South Africa 8th September: 1. Global economy worsening: The global economic outlook is getting cloudier, not clearer. While market volatility is expected, investment strategies should ideally reflect one’s personal circumstances – not current market conditions. The last week or so saw a broad sell-off across global bonds, credit, equities, and property. Commodity prices […]
News in South Africa 31st August: 1. Crypto industry crashing: Nearly 5 000 crypto employees have lost their jobs since April, reflecting the crushing $1.9 trillion (R32 trillion-plus) loss in the market value of cryptocurrencies since the peak in November 2021. Data from CryptoPresales.com shows June was the most brutal month, accounting for more than 60% of the […]
News in South Africa 30th August: 1. Rampant inflation to stay: The message from the world’s top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a recession with job losses and shockwaves through emerging markets. That price is still worth paying, […]
News in South Africa 29th August: 1. Good news for petrol and food prices: Consumers are in for a reprieve in the coming months in South Africa as economic indicators point to food price inflation stabilising, while end-month data from the Central Energy Fund shows a likely petrol price cut for September. Stats SA published […]
News in South Africa 24th August: 1. Vehicle industry slashing jobs: Automakers from General Motors to Toyota are on a mission to phase out gasoline vehicles. And while a future full of clean, electric cars will help reduce harmful emissions and stunt climate change, it may spell disaster for the thousands of auto workers whose jobs will be rendered […]
News in South Africa 16th August: 1. New border laws: The Department of Home Affairs has announced the commencement of South Africa’s new border management laws, which take effect this week. The Border Management Authority (BMA) Act has taken effect from Monday, 15 August, with most sections commencing, according to Home Affairs minister, Aaron Motsoaledi. […]
