News in South Africa 27th November: 1. Eskom hit stage 8 load-shedding: Energy analyst Chris Yelland said Eskom hit stage 8 power cuts according to the official national code of practice for load shedding. Speaking to reporters, Yelland said many people, including his family in Craighall Park, are experiencing 12 hours of load-shedding daily. “If […]
News in South Africa 24th November: 1. SARB keeps rates on hold: For its final decision of the year, the Monetary Policy Committee left SA’s key interest rate unchanged at 8.25% for a third consecutive meeting, in line with economists’ expectations. This comes after annual consumer price inflation leapt to 5.9% in October from 5.4% […]
News in South Africa 22nd November: 1. Inflation rises ahead of SARB decision: South Africa’s annual consumer price inflation (CPI) rose slightly in October, reaching the upper end of the South African Reserve Bank’s (SARB) target range. StatsSA announced today that annual CPI was 5.9% in October 2023, up from the 5.9% recorded in September […]
News in South Africa 21st November: 1. Sars APN impacts imports: On 1 December, the South African Revenue Service (Sars) will implement new advance payment notification (APN) requirements in a bid to combat illicit cash flows. The changes will impact all import payments valued at R50 000 and above. An APN is an application made by […]
News in South Africa 20th November: 1. SARB interest rate announcement: The South African Reserve Bank’s (SARB’s) Monetary Policy Committee (MPC) will be meeting this week for the last time in 2023, with the bank’s next decision on interest rates in the country expected on Thursday (23 November). For the last two meetings, the MPC […]
News in South Africa 17th November: 1. Egg supply is steadily increasing: The supply of egg and poultry meat is steadily increasing following shortages triggered by a bird flu outbreak that began in April, the department of agriculture, land reform and rural development said. “We are happy that the highly pathogenic avian influenza outbreak is under control […]
News in South Africa 14th November: 1. SARS needs funds: The South African Revenue Service (SARS) will soon run out of ways to collect more taxes as tax hikes are not an option, and the factors limiting the country’s tax revenue are outside the service’s control. This is feedback from Deloitte Africa’s tax controversy leader, […]
News in South Africa 13th November: 1. SA’s ‘too white’ farms may lose export access: South African farms deemed “too white” will no longer be able to export their produce to the UK and the EU, according to postings in the Government Gazette, the Johannesburg-based City Press newspaper reported. Under the rules, farmers must meet […]
News in South Africa 31st October: 1. Election clean up: South Africans should use next year’s elections to vote out “useless” politicians who have failed to prioritise jobs and drive investment, and choose leaders who will get the struggling economy back on track, according to one of the country’s top bankers. “You have to have […]
News in South Africa 30th October: 1. Midterm budget this week: As Minister of Finance, Enoch Godongwana prepares to deliver his mid-term budget speech this week, he said that if the country doesn’t cut expenditure and increase borrowing, it will be out of cash by the end of March 2024. He made the comments at […]
