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Recession fears fade as South Africa's GDP data show growth

PRETORIA - South Africa recession fears fade as manufacturing and mining sectors output rebounded, with the gross domestic product (GDP) data for the second quarter of 2016 showing growth of 3.3%. ... Full story

Interest Rates on hold, good news for economy and property market

South Africans have welcomed the decision by the Monetary Policy Committee of the South African Reserve Bank to retain the repo rate at 7%, making it easier for real estate business to prosper.

Repo Rate stays at 7%, economy still fragile

South African Reserve Bank (Sarb) Governor, Lesetja Kganyago on Thursday announced the bank decided to keep the repo rate at 7% — with prime lending interest rate at 10.5%.

Real Estate Industry major contributor to GDP

Statistics South Africa on Wednesday announced the country's gross domestic product (GDP) growth rate contracted by 1.2% in the first quarter of 2016, a much steeper contraction than had been expected.

Fitch maintains South Africa’s credit rating at investment grade

One of the influential financial rating agency Fitch, on Wednesday affirmed South Africa’s investment grade credit rating and maintained its outlook on stable, but warned that political and growth concerns posed a risk.

No downgrade for South Africa

Ratings agency Standard and Poor’s (S&P) has kept its assessment of the South Africa’s sovereign credit rating unchanged but with an outlook on negative.

Uncertainty looms ahead of Pravin Gordhan's case

Newspaper reports say Finance Minister Pravin Gordhan is facing imminent arrest for his role over the rogue unit formed during his tenure as South African Revenue Service (SARS) commissioner.

Downgrade likely but Property Funds taking steps to weather it

While National Treasury and parts of organized business try to avoid a sovereign credit ratings downgrade, South Africa's listed property sector has very much priced it in.

2016 SA Budget Speech Highlights

Finance Minister Pravin Gordhan, who was recently re-appointed by President Jacob Zuma, on Wednesday delivered the 2016 Budget Speech in Parliament Cape Town.

Property Sector looks to Budget 2016 for relief on Transfer Duty

When Finance Minister Pravin Gordhan delivers the 2016 budget speech this week, It is unlikely that national treasury will change the transfer duty on property but estate agents are wary.

Outrage over Rate hike announcement

South Africa's Reserve Bank’s (Sarb’s) today decided to increase the repo rate by 25 basis points to 6.25%; the prime lending rate is 9.75%. Two MPC members favoured an unchanged stance.

Bad news as Interest rate goes up

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) on Thursday increased the repo rate by 25 basis points to 6.25%, in a move Governor Lesetja Kganyago citing concerns over a weak rand and rising inflation.

Highlights of South Africa's Budget Speech 2015

Highlights of the South African National Budget Speech 2015/16 delivered by Finance Minister Nhlanhla Nene to Parliament on Wednesday, Cape Town.

Full text of SA's Budget Speech 2015

Read full text of Finance Minister Nhlanhla Nene's national budget speech 2015-16, presented in the National Assembly, Cape Town on Wednesday.

A sigh of relief as Reserve Bank retains repo rate at 5.75%

South Africans can breathe a sigh of relief as the Reserve Bank decided to leave the repo interest rate unchanged at 5.75% on Thursday, saying the domestic growth outlook had deteriorated further.

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