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Macro & Micro

Pravin Gordhan
Pravin Gordhan dies at 75
13th September 2024 By: Bloomberg

Pravin Gordhan, who held three positions in South Africa’s cabinet and won plaudits for standing up to Jacob Zuma during his scandal-marred presidency, has died. He was 75. Gordhan died in hospital... 


Electricity and Energy Minister Dr Kgosientsho Ramokgopa speaking at the nuclear summit
Ramokgopa to seek advice from team of experts before taking next nuclear steps
12th September 2024 By: Terence Creamer

Electricity and Energy Minister Dr Kgosientsho Ramokgopa is assembling a committee of experts to advise him on the role that nuclear could play in South Africa’s future supply before issuing a new... 


Consumers
South African inflation expectations fall again in Q3
12th September 2024 By: Reuters

South African analysts, business people and trade unions further lowered their inflation expectations in the third quarter of this year, bringing them closer to the level targeted by the central... 


South Africans pull R4.1bn from pension funds in 10 days since reform took effect
12th September 2024 By: Reuters

South Africans asked to withdraw R4.1-billion from their pension funds in the first ten days after a reform took effect on September 1 allowing fund members to make partial withdrawals before... 


Struggling miners put the brakes on South Africa’s stock rally
12th September 2024 By: Bloomberg

South African stocks have their noses in front of emerging-market peers, but glum news from China threatens to weigh on the key mining sector and stymie that outperformance. Johannesburg’s main... 


European Investment Bank VP Ambroise Fayolle
EIB, DBSA increase funding for private renewables projects to R11.9bn
11th September 2024 By: Terence Creamer

The European Investment Bank (EIB) has approved another €100-million (R1.98-billion) loan in support of the Development Bank of Southern Africa’s (DBSA’s) Embedded Generation Investment Programme,... 


Notable surge in trade expectations in August – Sacci
11th September 2024 By: Schalk Burger

The political broadening of governance has led to the encouragement of expectations in the trade environment, the South African Chamber of Commerce and Industry (Sacci) says. Although there remain... 


South Africa rejects civil-servant pay demand, offers 3% raise
11th September 2024 By: Bloomberg

The South African government rejected a demand by public-sector workers for a 12% pay increase, saying it’s unaffordable. Instead, the state offered a 3% raise, Frikkie de Bruin, general secretary... 


Major UIF service points to extend operating hours, open on Saturdays in Sept
11th September 2024 By: Schalk Burger

Some Unemployment Insurance Fund (UIF) service points will be open on Saturdays and from 07:30 to 16:00 on weekdays to render services to clients and employers during September to cater for an... 


National Treasury Official Ismail Momoniat
South Africa may exit dirty-money list by October 2025, Treasury official says
11th September 2024 By: Bloomberg

South Africa should address outstanding shortcomings in tackling illicit financial flows to exit a global dirty-money list by either June or October next year, provided there’s no surprises,... 


Transport Minister Barbara Creecy
National roads need over R307-billion of repairs
10th September 2024 By: Bloomberg

South Africa, which already faces a heavy bill to upgrade its port, rail and electricity infrastructure, needs R307-billion to repair and improve its sprawling national road system. The South... 


European Commissioner for Energy Kadri Simson at a briefing in Pretoria
R628m in EU grants to support South Africa’s goal of building green-hydrogen ecosystem
9th September 2024 By: Terence Creamer

The EU has announced R628-million (€32-million) in grant funding to support the development of South Africa’s nascent green-hydrogen industry, as well as to facilitate net-zero-related investments... 


Image of Cyril Ramaphosa and  Xi Jinping
Ramaphosa says China’s tech capabilities can support Africa’s industrialisation
9th September 2024 By: Thabi Shomolekae

President Cyril Ramaphosa noted on Monday that relations between South Africa and China has entered “a new era of opportunity”, following his visit to China, which he said has strengthened trade... 


Business Unity South Africa CEO Cas Coovadia
Business calls for soul searching on Nedlac’s future amid big socio-economic shifts
6th September 2024 By: Terence Creamer

While reaffirming its commitment to the National Economic Development and Labour Council (Nedlac), organised business has again questioned whether the structure’s current composition and... 


Image of Themba Maseko
Wits’ Themba Maseko doubts embattled Justice Minister will ensure whistleblower protection
6th September 2024 By: Thabi Shomolekae

University of the Witwatersrand School of Governance head and whistleblower Themba Maseko said he is not confident that newly appointed Minister of Justice Thembi Simelane will be able to move... 


Image of Kgalema Motlanthe
Kgalema Motlanthe says addressing corruption requires a multifaceted approach
6th September 2024 By: Thabi Shomolekae

Former President Kgalema Motlanthe pointed out on Friday that mapping out a future that is free from corruption requires a “deliberate and tactical” approach to ensure a robust rule of law, ethical... 


TFR locomotives
Private train operators could access Transnet's rail network by April 2025, says business development exec
5th September 2024 By: Schalk Burger

State-owned Transnet Group chief business development officer Yolisa Kani has said calls for applications for private train operators wanting to access the freight rail network are likely to open... 


Metair boasts resilience amid tough first-half market conditions
5th September 2024 By: Darren Parker

In an operational update to shareholders for the six months ended June 30, JSE-listed Metair Investments has said its business verticals demonstrated resilience despite the challenging operating... 


GoSolr CEO Andrew Middleton
Financial savings displacing loadshedding as main driver of residential solar market
5th September 2024 By: Terence Creamer

The South African market drivers for residential, commercial and industrial solar PV and battery installations have started shifting towards cost savings from security of supply as loadshedding... 


Busa CEO Cas Coovadia
Busa calls out govt for failing to hold ‘structured’ NHI discussions
5th September 2024 By: Thabi Shomolekae

Industry body Business Unity South Africa on Thursday expressed disappointment that despite commitments by the government to engage on the National Health Insurance Act, structured discussions have... 


A view of the Pretoria skyline
South Africa's current account deficit narrows again in second quarter
5th September 2024 By: Reuters

South Africa's current account deficit narrowed in the second quarter, to 0.9% of gross domestic product from 1.5% of GDP in the first quarter, central bank data showed on Thursday. In rand terms... 


Image of Cyril Ramaphosa
African countries, China driven by desire to achieve shared prosperity – Ramaphosa
5th September 2024 By: Thabi Shomolekae

President Cyril Rampahosa said on Thursday if African countries and China are to build a future that is people-centred, development-orientated and inclusive, they will need to work in a spirit of... 


Chinese President Xi Jinping
China offers Africa $51-billion in fresh funding, promises a million jobs
5th September 2024 By: Reuters

President Xi Jinping pledged on Thursday to step up China's support to the world's fastest-growing continent with funding of nearly $51-billion, backing for more infrastructure initiatives and a... 


IMF says South Africa needs ambitious fiscal consolidation
4th September 2024 By: Reuters

The International Monetary Fund said on Wednesday that South Africa needed to pursue ambitious fiscal consolidation to restore the sustainability of its public finances. "Durable expenditure-based... 


Electricity and Energy Minister Dr Kgosientsho Ramokgopa will host a nulclear summit on September 12
DMRE moving with pace on nuclear determination amid mounting technoeconomic questions
4th September 2024 By: Terence Creamer

South Africa’s Department of Mineral Resources and Energy (DMRE) expects to finalise nuclear-procurement consultations in the coming two to three months before approaching the regulator for its... 


Commissioner Doris Tshepe and ACA chairperson Dr Eugénia Pereira
South African, Angolan competition authorities sign MoU
4th September 2024 By: Darren Parker

The Competition Commission has signed a memorandum of understanding (MoU) with the Angola Competition Authority (ACA), establishing a general framework for bilateral communication and cooperation... 


Rand Currency
Govt says economic growth is a clear indication that SA is on a solid path to recovery
4th September 2024 By: Thabi Shomolekae

Public information entity Government Communication and Information System said on Wednesday South Africa’s economic growth in the second quarter shows that the economy is on a solid path to... 


Cable theft
South Africa rail, power revamp hinges on ending cable theft
4th September 2024 By: Bloomberg

The recovery of South Africa’s two biggest State-owned companies — beset by years of corruption and theft — relies on one common component: protecting thousands of miles of cables from theft and... 


Citrus
South Africa targets China as key market for its farm produce
4th September 2024 By: Bloomberg

South Africa new 10-party coalition government aims to increase agricultural exports to China, part of a drive to forge closer ties with the Asian nation, fire up its economy and tackle a 34%... 


GNU cabinet
South African business confidence gets boost from coalition government, survey shows
4th September 2024 By: Reuters

South African business confidence rose in the third quarter, helped by improving optimism about the business climate after the formation of a coalition government and stable electricity supply, a... 


KPMG logo
Solly Malatsi refers KPMG’s Postbank report to the Hawks
4th September 2024 By: Thabi Shomolekae

The Minister of Communications and Digital Technologies Solly Malatsi has instructed the Postbank board to ensure that the recommendations contained in the KPMG report are implemented, and he has... 


South Africa business activity rises in August, PMI shows
4th September 2024 By: Reuters

South African private sector activity rose in August as firms received higher volumes of new orders for the first time since April 2023, a survey showed on Wednesday. The S&P Global South Africa... 


Nigeria and China sign economic, nuclear energy pact
4th September 2024 By: Reuters

Nigeria and China agreed to strengthen ties in the Belt and Road initiative, human resources development and nuclear energy after the countries' leaders met on Tuesday, a government spokesperson... 


JSE logo
FSCA approves JSE’s plans to divide its main board into two segments
3rd September 2024 By: Darren Parker

The Financial Sector Conduct Authority (FSCA) has approved amendments to the JSE’s listings requirements dealing with market segmentation, which will come into effect on September 23.  The market... 


Vehicles on an assembly line
GDP grew by 0.4% in the second quarter
3rd September 2024 By: Creamer Media Reporter

South Africa’s GDP increased by 0.4% in the second quarter, with the manufacturing industry having increased by 1.1%, contributing 0.1 of a percentage point to the GDP growth. Six of the ten... 


Sasol CEO Simon Baloyi
Sasol confirms refinements being made to emissions reduction pathway
3rd September 2024 By: Terence Creamer

Energy and chemicals group Sasol has reiterated that its target to reduce its greenhouse-gas (GHG) emissions by 30% by 2030 remains in place, but has also confirmed that it is refining its... 


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