News in South Africa 16th August: 1. Unemployment concerns: Despite a slight drop in the unemployment rate economists still believe that far too many people in South Africa remain unemployed. On Tuesday, Statistics South Africa released the second Quarter Labour Force Survey for the period starting from 1 April to the end of June 2023. […]
News in South Africa 2nd August: 1. US stripped of AAA rating: The US was stripped of its top-tier sovereign credit grade by Fitch Ratings, which criticized the country’s ballooning fiscal deficits and an “erosion of governance” that’s led to repeated debt limit clashes over the past two decades. The credit grader cut the US […]
News in South Africa 26th July: 1. Food price relief: South Africa’s food inflation should continue to decline, despite new risks facing agriculture in South Africa. According to Stats SA, Consumer Price Inflation (CPI) cooled from 6.3% in May to 5.4% in June – the lowest reading since 5.0% in October 2021. Crucially, annual inflation […]
News in South Africa 27th June: 1. South Africans severely indebted: South Africans are among the most indebted people in the world, with as much as 73% of disposable household income servicing debt repayments. Credit abuses and frailties in the legislative framework, compounded by financial illiteracy, leave borrowers vulnerable to manipulation by lenders. This is […]
News in South Africa 26th June: 1. Eskom’s smart meter project: Eskom on Friday announced the beginning of a pilot project that will give consumers more control over load shedding by using smart meters. The utility said selected consumers in Fourways in Gauteng will during Stage 1-4 load shedding get four opportunities to reduce their […]
News in South Africa 23rd June: 1. Renewables put on hold: As South Africa ramps up its roll-out of renewable energy, it is now confronting the same challenge faced by countries across the globe. Depleted grid capacity in resource-rich areas is making it increasingly difficult to connect new renewable energy projects to the grid, particularly […]
News in South Africa 21st June: 1. Sharp rise in riots: The Institute of Risk Management South Africa (IRMSA) has published the 9th Edition of the Annual Risk Report, sounding a new alarm on the various crises hitting South Africa. Among the biggest risks the country faces is growing social unrest, with the group already […]
News in South Africa 12th June: 1. Food inflation easing: Food prices in South Africa continue to increase at a startling rate, although the pace of acceleration is easing and possibly faster than is reflected in the official data so far. The cost of a basket of goods in Bloomberg’s South African Shisa Nyama Index, designed […]
News in South Africa 22nd May: 1. Stage 8 all but certain: Business interest group BLSA says that stage 8 load shedding is all but certain in the coming months, warning that companies relying on diesel to keep their operations going during outages will be hit even harder as the lights go out for as […]
News in South Africa 17th May: 1. Unemployment rises: South Africa’s unemployment rate rose for the first time in more than a year and may continue climbing as power cuts intensify, discouraging investment and sapping economic growth. The official jobless rate jumped to 32.9% in the three months through March from 32.7% in the prior […]
