Economy
SA cuts rates again, by modest 25 bps
The South African Reserve Bank (SARB) announced an additional rate cut on Thursday, of 25 basis points. ... Full story
South Africa to ease Covid-19 lockdown restrictions
After four weeks on lockdown, President Cyril Ramaphosa has unveiled new levels of Coronavirus (COVID-19) which will determine which sectors of the economy would be opened in certain areas.
President Ramaphosa announces massive R500bn economic recovery package
President Cyril Ramaphosa has unveiled the R500 billion economic recovery stimulus package that will form part of the national response to support South Africans dealing with the consequences of the coronavirus (COVID-19) pandemic.
South Africa's Repo rate slashed by 1%
In an attempt to offset the economic damage from the Covid-19, South Africa’s repo rate has been slashed by 100 basis points or 1% bringing the repo rate down to 4.25% on Tuesday morning.
South Africa extends 21-day lockdown with 2 more weeks
President Cyril Ramaphosa has extended the current 21-day lockdown with an additional 2 more weeks.
Moody's downgrades South Africa's credit rating to junk
Moody's Investors Service has downgraded South Africa's credit rating to subinvestment grade, as a recession deepened by the impact of coronavirus frustrates economic reform efforts aimed at reducing government debt.
SA Reserve Bank cuts interest rates to 5.25%
Amid disruptions due to the Coronavirus (Covid-19) crisis, the South African Reserve Bank (SARB) has cut interest rates by 100 basis points, from 6.25% to 5.25%, Governor Lesetja Kganyago announced on Thursday.
Eskom’s power rationing bite into recession
South Africa’s power utility, Eskom Holdings, which has battled operational difficulties and requires regular financial support from the National Treasury — has been identified as a key threat to the economy.
Full text of SA's Budget Speech 2020
Read the full text of Finance Minister Tito Mboweni's national budget speech 2020-21, presented in the National Assembly, Cape Town on Wednesday.
2020 SA Budget Speech Highlights — by Minister Tito Mboweni
Cutting public-sector wages in a bid to appease rating agencies, Finance Minister Tito Mboweni on Wednesday delivered the R1.95 trillion 2020 Budget in Parliament Cape Town.
Good news for South Africans: Reserve Bank cuts Interest rates
South Africa's Reserve Bank on Thursday reduced interest rates from 6.5% to 6.25%., citing concerns about power blackouts, weak rand, and labor conflicts.
SA projects R53bn revenue collection shortfall
Tabling the 2019 medium-term budget policy statement (MTBPS), Finance Minister Tito Mboweni has projected a R53 billion revenue collection shortfall for the current financial year.
2019 Mid-Term Budget key Highlights — by Minister Tito Mboweni
Finance Minister Tito Mboweni on Wednesday delivered the 2019 mid-term budget statement as he faces a tough task of balancing government's books.
Reserve Bank slashes repo rate to 6.5%, bank loans may get cheaper
In a move that may lead to lower property finance, auto and other loans, the South African central bank reduced the lending rate by 25 basis points to 6.5 % per annum as of 19 July 2019.
Rand strengthens on Fed's chair remarks, Kganyago reappointment
The Rand firmed on Wednesday as the dollar weakened after U.S. Federal Reserve Chairman Jerome Powell highlighted risks to the U.S. economy in remarks that could bolster expectations of an interest rate cut later this month.
