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 12th October: 1. Foreigners flee SA stocks: Foreign investors have accelerated their (net) selling of equities on the JSE, with sales 40% greater thus far in 2023 than in the same period in 2022. To last Friday, non-SA investors sold a net R103 billion of equities, versus R73 billion in the […]
News in South Africa 11th October: 1. SA is falling apart: South Africa is falling apart, with unreliable electricity, poor railways, ports which do not function properly, a dilapidated road network, and deteriorating state finances. Late last month, Transnet CEO Portia Derby and CFO Nonkululeko Dlamini resigned, with Transnet Rail CEO Siza Mzimela following suit […]
News in South Africa 19th September: 1. Load shedding suspended: Eskom will suspend load-shedding for an additional seven hours on Tuesday, 19 September 2023, due to improved generation capacity and reduced breakdowns. In a statement on Tuesday morning, the utility said that 13,577MW of generation capacity was unavailable due to breakdowns. Therefore, it would suspend load-shedding […]
News in South Africa 15th September: 1. New SOE plan proposal: A radical new model for SA’s troubled state-owned enterprises (SOEs) could be on the cards, with the approval this week of the draft National State Enterprises Bill, which would lay the basis for private equity investment in state companies and listings on the stock […]
News in South Africa 30th August: 1. 5 years more of load shedding: There is no ‘silver bullet’ to end load-shedding, and South Africa’s electricity crisis will be with the country for five more years, despite recent deals made with Chinese representatives. This is the view of energy expert and University of Johannesburg professor Hartmut […]
News in South Africa 15th August: 1. SA likely to keep AGOA status: South Africa will likely keep its preferential access to US markets because hundreds of American firms are also benefitting, according to the nation’s ambassador to BRICS. “I don’t think there is any serious threat of us losing preferential access to AGOA. AGOA […]
News in South Africa 14th July: 1. Rand breaks through R18/$: The rand broke through the psychologically important R18/$ level for the first time in just over three months on Thursday, boosted by positive US data, along with hopes that Chinese stimulus will offer support to commodity prices. The local currency reached R17.99/$ in mid-morning […]
News in South Africa 10th March: 1. Infrastructure collapsing under R79bn debt: By the end of December 2022, the total debt owed by around 100 municipalities to Eskom totalled R56.3 billion. Just 15 months prior, at the end of September 2021, total municipal debt to Eskom was R40.9 billion. That’s an increase of nearly 40% […]
News in South Africa 10th February: 1. SONA 2023 disappointing: Reactions to president Cyril Ramaphosa’s State of the Nation Address are flooding in, with most commentators left wanting. Ramaphosa delivered his by-the-numbers address on Thursday evening (9 February), featuring all the qualities South Africans have come to expect from the annual event. Proceedings were disrupted […]
