Economy
2023 SA Budget Key Highlights — by Finance Minister Enoch Godongwana
Finance Minister Enoch Godongwana on Wednesday delivered the 2023 budget speech in Parliament, Cape Town. His speech comes in the wake of the shocking severity of daily power outages and rising food prices, and prevailing socio-economic challenges
South Africa’s credit outlook upgraded by S&P
Standard & Poor’s (S&P) upgraded its outlook on South Africa’s credit rating to positive from stable while affirming the long-term foreign and local currency debt ratings at ‘BB-’ and ‘BB’, respectively....
Impact of interest rate hikes on SMEs, Agriculture and Commercial Property
The South African Reserve Bank's decision to increase the repo rate by 50 basis points (bps) to 4.75% means that small businesses will likely have to absorb costs in the short term, as their profit margins are already under pressure due to rising fuel prices and power cuts....
Bad news as the Reserve Bank hikes Interest rates
South African Reserve Bank (SARB) decided to raise the repo rate by 50 basis points, taking it to 4.75% per annum. This is the largest hike since January 2016....
Rand to the rescue
The rand held its ground against the dollar in afternoon trade on Tuesday (3 May), having given up 3.6% over last week, trading at R15.99 relative to the greenback – near its weakest levels in nearly five months....
Rand gains but Inflation soars as Reserve Bank increases Interest rates
South Africa's Reserve Bank monetary policy committee (MPC) has raised the interest rates by 25 basis points to 4.25%....
SA economy to grow 2.1% in 2022
The country’s real Gross Domestic Product (GDP) is expected to grow by an average of 2.1 % in 2022, finance minister Enoch Godongwana said on Wednesday....
Key Highlights of SA’s 2022 Budget — by Minister Enoch Godongwana
Finance Minister Enoch Godongwana on Wednesday delivered his maiden 2022 budget speech in a joint sitting of Parliament, forecasting all-time-high tax revenues, a portion of which has been allocated to paying debt earlier than anticipated....Reserve Bank increases Interest rates, Rand slides
The Reserve Bank has raised the interest rates by 25 basis points to 3.75% after it concluded its monetary policy committee which took place on Thursday afternoon. ...
Property sector welcomes unchanged repo rate
The decision to keep the repo rate unchanged at 3.5% by The Reserve Bank, has been welcomed by the South African Property sector. ...Reserve Bank leaves rates unchanged
The Reserve Bank’s Monetary Policy Committee (MPC) has left rates unchanged at 3.5%, Governor Lesetja Kganyago said on Thursday....
SA eases lockdown rules to revive the economy
Due to declining of Covid-19 infections, lock-down rules in South Africa have been relaxed, moving to level one — President Cyril Ramaphosa announced on Sunday evening....
2021 SA Budget Key Highlights — by Minister Tito Mboweni
Finance Minister Tito Mboweni on Wednesday delivered the toughest budget since the dawn of democracy. His speech comes in the wake of shocking unemployment figures that were shared by Stats SA on Tuesday. ...
SONA 2021 key Highlights summary — by President Cyril Ramaphosa
South Africa's President Cyril Ramaphosa, on Thursday, delivered the 2021 State of the Nation Address (SONA) as he faces the tough task of tackling economic recovery, corruption, electricity shortages, and Covid-19 pandemic issues....