News in South Africa 10th October: 1. Wrong side of the war: The war between Israel and Hamas could be another conflict in which South Africa is deemed to be on the wrong side. In a rand note, Investec Chief Economist Annabel Bishop said that the stronger-than-expected US payroll data saw the rand weaken to […]
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 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 […]
News in South Africa 12th September: 1. 200 000 public job cuts: President Cyril Ramaphosa has called an urgent but long overdue meeting with organised labour for Tuesday, as the possibility of a further wage freeze, job cuts, and more cuts to government services hang over the country. Federations were urgently advised of the meeting […]
News in South Africa 11th September: 1. SA losing $62bn annually to illegal imports: South Africa is losing more than $62 billion a year because of illicit financial flows (IFFs), which could be used to fund the building of schools, hospitals and safer roads. This was highlighted at a conference on increased illegal trading in […]
News in South Africa 28th August: 1. Investors on edge: Capital markets are on edge over South Africa’s deteriorating fiscal outlook, say economists at the Bureau for Economic Research (BER), with government data on revenue expenditure out later this week likely to be of particular interest to investors. National Treasury is due to release its […]
News in South Africa 21st July: 1. Financial stress climbing: A survey of more than 35 000 people has revealed that 55% spend more than 40% of their take-home pay on debt repayments, while 37% say more than half their available income goes straight to servicing debt. Nearly 80% of respondents say that they “experience […]
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 15th May: 1. US won’t sanction SA over weapons row: South African Finance Minister Enoch Godongwana said his country resolved a row with the US over allegations that Pretoria supplied weapons to Russia and it’s unlikely to face any repercussions. A furore erupted on May 11, when US Ambassador to South […]
News in South Africa 9th May: 1. Rand remains weak: South Africa’s rand remains in a weak position as it awaits a shift in global markets, says Investec chief economist Annabel Bishop. Despite firming slightly on Monday (8 May) amid a softer dollar, the local unit has been sitting around R18.30/USD for some time. According […]
