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Macro & Micro

Reserve Bank Governor Lesetja Kganyago
South African rates seen on hold all year amid inflation worry
11th April 2024 By: Bloomberg

South Africa’s central bank won’t cut interest rates this year because of persistent inflation and there’s even a risk it could raise them, bets in financial futures markets show. The shift, which... 


Sacci BCI remains steady
11th April 2024 By: Creamer Media Reporter

The South African Chamber of Commerce and Industry's (Sacci's) Business Confidence Index (BCI) remained steady at 114.7 in both February and March, indicating a stablisation of confidence at an... 


Ellies faces liquidation
10th April 2024 By: Creamer Media Reporter

Manufacturing, trading and distribution company Ellies Holdings is likely to be liquidated, after the business rescue practitioner tasked with rescuing the company determined that there was no... 


E-tolls scrapped but gantries will remain, accounts up until April 11 must be paid – Minister
E-tolls scrapped but gantries will remain, accounts up until April 11 must be paid – Minister
10th April 2024 By: Thabi Shomolekae

Transport Minister Sindisiwe Chikunga noted on Wednesday that while Gauteng roads are no longer going to be tolled, the e-toll gantry lights and cameras will remain for road safety purposes, adding... 


Buildings in the Johannesburg CBD
CoJ threatens to blacklist defaulters to recoup R40bn in municipal debt
10th April 2024 By: Schalk Burger

The City of Johannesburg (CoJ) has warned that it will soon blacklist thousands of defaulting residential property owners and businesses to recoup more than R40-billion in municipal debt.... 


South African fossil fuel subsidies hit record R118bn in 2023 - IISD
South African fossil fuel subsidies hit record R118bn in 2023 - IISD
10th April 2024 By: Terence Creamer

A new study has found that South Africa's fossil fuel subsidies tripled between 2018 and 2023, rising to R118-billion from R39-billion over the period, with subsidies having been increased largely... 


Image of Aaron Motsoaledi
Motsoaledi rubbishes rumours of cancellation of Critical Skills Work Visa
9th April 2024 By: Thabi Shomolekae

Home Affairs Minister Aaron Motsoaledi on Tuesday denied that his department has cancelled the Critical Skills Work Visa, emphasising its importance. He said the department was “worried” about... 


generic picture of metal worker
Unions, industry prepare for ‘tough’ talks as metals, engineering negotiations set to get under way
9th April 2024 By: Darren Parker

Trade unions and industry associations expect negotiations at the Metal and Engineering Industries Bargaining Council (MEIBC), which are set to start on April 10, in Boksburg, to be tough. Trade... 


One of the new ZiG banknotes
Zimbabwe’s new currency strengthens on second day of trading
9th April 2024 By: Bloomberg

Zimbabwe’s new currency, the ZiG, strengthened a day after its debut, the central bank said. The currency gained 0.2% to 13.53 per US dollar, according to data published on the Reserve Bank of... 


Rail tracks
South Africa taps business to create office to end rail monopoly
8th April 2024 By: Bloomberg

South Africa has asked companies to help it set up an office to facilitate the entry of private operators onto the continent’s biggest rail network for the first time. In a letter sent last month... 


Secunda complex
Sasol granted permission to use load-based limit to regulate SO2 emissions from Secunda boilers
8th April 2024 By: Terence Creamer

Forestry, Fisheries and the Environment Minister Barbara Creecy has granted Sasol South Africa permission to employ a load-based limit to regulate the sulphur dioxide (SO2) of its Secunda boilers... 


DFFE commits to supporting SMMEs in waste tyre management endeavour
5th April 2024 By: Marleny Arnoldi

Forestry, Fisheries and the Environment Minister Barbara Creecy has unpacked the Industry Waste Tyre Management Plan (IWTMP), which was recently approved by Cabinet and which is aimed at addressing... 


Human Settlements Minister Mmamoloko Kubayi
Old govt buildings to be converted into homes for State employees
5th April 2024 By: Darren Parker

Human Settlements Minister Mmamaloko Kubayi wants to convert old and unused government buildings into residential properties for government employees. She said this was part of an effort to do away... 


Globeleq CEO Mike Scholey
Globeleq says R5.7bn Red Sands will be largest standalone battery storage project in Africa
5th April 2024 By: Terence Creamer

Leading African independent power producer Globeleq says the 153 MW/612 MWh Red Sands project, which was recently awarded preferred bidder status under South Africa’s inaugural battery storage... 


gas pipes leading to gas terminal
Role of gas in SA’s future energy mix under intense scrutiny
5th April 2024 By: Darren Parker

Given South Africa’s ongoing energy crisis, there remains much debate around whether gas should be included in the future energy mix and, if so, how much. Advocates argue that the fossil fuel is a... 


SA has debt, growth problem – economist
4th April 2024 By: Thabi Shomolekae

Rand Merchant Bank chief economist and head of research Isaah Mhlanga noted on Thursday that looking at the emerging economies of neighbouring countries, it is quite clear that South Africa’s... 


Zithulele District Hospital under construction
Coega Development Corporation has implemented R48bn worth of infrastructure since 2004
4th April 2024 By: Darren Parker

The Coega Development Corporation (Coega) says it has successfully implemented infrastructure projects to an accumulative value of about R48-billion since the inception of its development programme... 


Consumers
Consumer spending growth in South Africa steadied in 2023, report shows
4th April 2024 By: Reuters

Consumer spending growth in South Africa steadied in 2023 after the previous year's post-pandemic surge, but expected interest rate cuts will encourage more purchases in 2024, executives from Visa... 


A Nordex wind turbine
Concrete towers selected for Impofu wind farm to bolster local content
4th April 2024 By: Terence Creamer

Enel Green Power South Africa has confirmed that the Nordex manufacturing facility being set up in Humansdorp, in the Eastern Cape, will produce concrete wind tower sections for the three new wind... 


CEO Confidence Index drops to 45.4 owing to low planned investments
3rd April 2024 By: Schalk Burger

Business advisory company Merchantec Capital’s CEO Confidence Index decreased by three percentage points in the first quarter of this year to a score of 45.4, which is below the neutral 50-point... 


South African Reserve Bank Governor Lesetja Kganyago
South African policymakers discussing lower inflation target – Kganyago
3rd April 2024 By: Reuters

South African policymakers are in discussions on lowering the central bank's inflation target, its governor said on Wednesday, adding that a lower target would make the country more competitive and... 


Policy uncertainty edging further into negative territory ahead of elections, report shows
3rd April 2024 By: Darren Parker

The North-West University Business School Policy Uncertainty Index veered further into negative territory in the first quarter, at 65.8 index points, compared with the 65.5 index points recorded... 


Sars Commissioner Edward Kieswetter
Sars collects record gross amount of R2.16-trillion for 2023/24
2nd April 2024 By: Schalk Burger

The South African Revenue Service (Sars) collected a record gross amount of R2.16-trillion by the end of March. It paid out refunds of R414-billion to taxpayers, which is the highest ever in... 


Packed oranges
Association expects higher export volumes across all citrus fruits
2nd April 2024 By: Marleny Arnoldi

As the citrus export season starts this month, the Citrus Growers’ Association of Southern Africa (CGA) is confident that 37.9-million 15 kg cartons of lemons will be exported to key markets, which... 


Eskom's Hex battery project, developed separately form the IPP procurement programmes currently under way
Third battery storage programme seeks bids for five Free State sites
2nd April 2024 By: Terence Creamer

The Department of Mineral Resources and Energy (DMRE) has launched South Africa’s third public procurement round for utility-scale batteries, while also extending the bid submission deadline for... 


Wind turbines
China could drive Africa's renewable energy revolution, report says
2nd April 2024 By: Reuters

China has a unique opportunity to drive forward an energy revolution in Africa, but it must first reverse nearly two decades of neglect of green power investments there, research from Boston... 


Minister in The Presidency Khumbudzo Ntshavheni
Release of Gas Master Plan approved at Cabinet’s last official meeting ahead of May poll
28th March 2024 By: Terence Creamer

Cabinet approved the publication of the long-awaited Gas Master Plan for public comment during what was the last formal meeting of the executive ahead of the May 29 election. However, Minister in... 


Indaba produces biodiversity economy action plan to address sector challenges
28th March 2024 By: Schalk Burger

The Biodiversity Economy and Investment Indaba, held this week, resulted in the development of a programme of action to address the challenges in the biodiversity sector as part of the National... 


A photo of the South African Reserve Bank's offices
South Africa sees smaller FDI inflows in fourth quarter – Reserve Bank
28th March 2024 By: Reuters

South Africa recorded smaller foreign direct investment (FDI) inflows of R16.2-billion in the fourth quarter of 2023, from R26-billion in the third quarter, central bank data showed on Thursday.... 


SARB Governor Lesetja Kganyago
SARB keeps main interest rate unchanged, citing inflation risks
27th March 2024 By: Reuters

South Africa's central bank kept its key interest rate unchanged at 8.25% on Wednesday, saying that on balance risks to the inflation outlook were skewed to the upside. It was the fifth meeting in... 


white chickens
Chicken industry needs no tariff rebates because there is no shortage, Sapa stresses
27th March 2024 By: Darren Parker

Executives from the South African Poultry Association (Sapa) met with Trade, Industry and Competition Minister Ebrahim Patel last week to discuss, among other matters, tariff rebates on chicken... 


PPC factory
PPC’s Zimbabwe business flourishes while South African, Botswana businesses flounder
27th March 2024 By: Darren Parker

Revenue growth in cement producer PPC’s South Africa and Botswana cement businesses was driven by price increases during the ten months ended January 31, positively offsetting the declining sales... 


Watt Street precinct under construction
JDA looking for new contractor to finish Watt Street Precinct project
27th March 2024 By: Darren Parker

The City of Johannesburg’s infrastructure arm the Johannesburg Development Agency (JDA) has started the procurement process for a new contractor for the Watt Street Public Environment (PEU)... 


Image of Alan Winde
W Cape Premier’s department allocates over R100m to fix energy crisis
26th March 2024 By: Thabi Shomolekae

Western Cape Premier Alan Winde announced on Tuesday that over the current Medium Term Expenditure Framework, the Department of the Premier is ploughing R103.4-million into a response to the energy... 


Solar panels
Solar PV body questions technology costs and build limits in draft IRP
26th March 2024 By: Terence Creamer

The South African Photovoltaic Industry Association (SAPVIA) questions both the cost assumptions used for the technology in the draft Integrated Resource Plan 2023 (IRP 2023), as well as the 900 MW... 


Image of Risenga Maluleke
Decline in formal sector employment for 2023 Q4 – Stats SA
26th March 2024 By: Thabi Shomolekae

The Statistician-General of South Africa Risenga Maluleke on Tuesday reported a decrease in the total number of employees in the formal non-agricultural sector by 194 000 in the fourth quarter of... 


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