News in South Africa 24th April: 1. Eskom warning from IMF: The International Monetary Fund (IMF) has warned that South Africa’s electricity crisis poses a significant threat to the country’s fiscal health. It also said Eskom must reduce its reliance on government funding. This was said at the IMF’s Spring Meetings with the World Bank […]
News in South Africa 4th April: 1. Why Eskom is exempted: National Treasury claims pressure would be placed on the fiscus and the borrowing powers of state-owned enterprises (SOEs) if the exemption granted to Eskom from disclosing irregular and fruitless expenditure in its annual financial statements was not considered. Reacting to widespread criticism of the […]
News in South Africa 19th January: 1. Eskom diesel nightmare: Eskom is living hand-to-mouth in its efforts to obtain the diesel needed to continue running its open-cycle gas turbines (OCGTs), which, in the face of prolonged power generation outages, is the only way the utility can stave off severe and ongoing curtailment of South Africa’s […]
News in South Africa 29th November: 1. Infrastructure growth not a reality: The South African government has put a spin on infrastructure projects worth billions of rands as a way to drag the economy out of stagnation – but the PR belies the reality that not much has been done over the last few years […]
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 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 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 15th August: 1. JHB School fees could soar: The City of Johannesburg’s sudden decision to reclassify school properties, thereby raising payable rates eight-fold, will have a devastating impact on pupils in the metro, according to organisations challenging the change. Every year, the Gauteng Department of Education is faced with a scramble […]
News in South Africa 4th August: 1. Loadshedding at Stage 4: Power utility Eskom says that load shedding will increase to stage 4 on Thursday (4 August) between 16:00-24:00, due to the continued shortage of generation capacity. “Due to a shortage of generation capacity, coupled with the higher demand due to the colder weather, stage […]
News in South Africa 25th July: 1. No break for taxpayers: More than 30 tax offices across the country remained closed on Thursday (21 July), with the South African Revenue Service (Sars) acknowledging delays in servicing taxpayers due to the strike by its unionised workers. Despite admitting delays, Sars says it does not envisage changing […]
