News in South Africa 6th October: 1. Cost of living crisis: Economists have flagged South Africa’s fiscal crisis, a weakening rand, and the consequences of poor governance – painting a bleak future for the average South African as the cost of living crisis deteriorates. South African Reward Association member Kirk Kruger said South Africans are […]
News in South Africa 4th October: 1. Eggs rationed: Woolworths and Pick n Pay are rationing eggs to customers in a bid to ensure regular supply as SA’s worst ever avian influenza outbreak continues to gather momentum. Woolworths said in response to questions on Tuesday that it had “implemented a limit on whole egg purchases […]
News in South Africa 3rd October: 1. SA has run out of money: South Africa is facing a severe budget shortfall, and with a stagnant, over-taxed tax base and massive debt, the government has run out of ways to raise more money. This is the warning from the South African Institute of Taxation CEO Keith […]
News in South Africa 29th September: 1. Global stocks dropping: World stocks were on track for their longest losing streak in two years on Thursday as the sight of oil prices nearing $100 a barrel compounded concerns about persistently high global interest rates. There was brief respite from the dollar’s strength in currency markets, but […]
News in South Africa 27th September: 1. Government to fail on its promises: South Africa is set to miss all but one of the 2030 development targets its National Planning Commission set just over a decade ago. Of nine targets set in the National Development Plan, ranging from employment to investment, five measures have deteriorated […]
News in South Africa 26th September: 1. Storms flood Western Cape: Heavy rains and winds battered the Western Cape on Sunday and Monday, forcing hundreds of families to flee their flooded homes. In Covid Village in Mfuleni, a man died, apparently electrocuted by a live wire in the water. About 2 000 families fled their […]
News in South Africa 22nd September: 1. Global central banks high inflation credo: Central banks for the world’s biggest economies have served notice that they will keep interest rates as high as needed to tame inflation, even as two years of unprecedented global policy tightening reaches a peak. The so-called “higher for longer” mantra is […]
News in South Africa 20th September: 1. Rand stuck at R19/USD: The rand has been stuck at around R19/USD as markets worry about the deterioration in South Africa’s state finances, the risk of a global recession, and the US Federal Reserve’s aggressive monetary policy stance. This is according to Investec chief economist Annabel Bishop, whose […]
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 18th September: 1. Transnet costing economy R1bn daily: Last week, the Durban Chamber of Commerce and Industry called on Public Enterprises Minister Pravin Gordhan to remove Transnet CEO Portia Derby and other key executives, claiming their lack of service delivery is sabotaging business. This is the latest broadside against the state-owned […]
