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Macro & Micro

Trade, Industry and Competition Minister Ebrahim Patel
Successes, learnings on employee share ownership plans marked
23rd April 2024 By: Tasneem Bulbulia

Employee share ownership plans (ESOPs) or worker share ownership programmes have enjoyed several successes in South Africa, especially gaining traction in the past five years, and this needs to... 


IEA expects another record year for EVs in 2024, but sales remain concentrated
IEA expects another record year for EVs in 2024, but sales remain concentrated
23rd April 2024 By: Terence Creamer

The International Energy Agency (IEA) expects electric vehicle (EV) sales to rise to a record 17-million in 2024, representing more than one in every five passenger cars sold, but with sales likely... 


Electricity Minister Kgosientsho Ramokgopa
Ramokgopa describes IPP surpluses as low-hanging fruit amid delay in finding contractual solution
22nd April 2024 By: Terence Creamer

Electricity Minister Kgosientsho Ramokgopa describes surplus electricity arising from existing renewable energy facilities as “low hanging fruit” in improving the supply-demand balance and reports... 


President Cyril Ramaphosa
South Africa evades US censure even as it builds links to rivals
22nd April 2024 By: Bloomberg

South Africa is playing all sides when it comes to foreign policy as the country seeks to position itself as a leading voice of the Global South, and the approach seems to be working — so far. The... 


LPG gas bottles
Project envisions rollout of smart LPG, solar systems, hydrogen stoves to 3.51m indigent households
22nd April 2024 By: Darren Parker

Energy solutions company Kili Energy is spearheading a large-scale initiative, the Kili Energy Clean Energy Democratisation Project, to provide smart liquefied petroleum gas (LPG) canisters and... 


Gates Foundation, EIB launch capital for women entrepreneurs pilot in Kenya
19th April 2024 By: Schalk Burger

Philanthropy organisation the Bill and Melinda Gates Foundation and development finance institution the European Investment Bank (EIB) have launched a €30-million microfinance programme for women... 


Research group reports that the latest El Niño had a significant impact on South Africa
19th April 2024 By: Rebecca Campbell

A South African research group has reported that the 2023/24 El Niño phenomenon was the fourth strongest yet recorded, and that it had a noticeable impact on South Africa. The research team,... 


Elections highlighted as a concern for SME owners, but also promise change
19th April 2024 By: Schalk Burger

Almost half, or 49%, of small and medium-sized enterprise (SME) business owners who responded to the Fourth Quarter 2023 SME Confidence Index by specialist SME financier Business Partners said they... 


JSE plans overhaul to encourage smaller listings
19th April 2024 By: Bloomberg

The operator of the JSE has proposed easing some listing requirements in a bid to encourage smaller companies to the bourse, removing some of the red tape it says has become an obstacle. The... 


South Africa to keep anti-dumping duties on chicken imports from US
18th April 2024 By: Bloomberg

South Africa’s trade minister approved a recommendation to maintain anti-dumping duties on frozen bone-in chicken portions originating in or imported from the US. Following an investigation that... 


Together with large-scale procurement, rising rooftop solar installations are offering greater market stability that could stimulate local manufacturing
Private renewables procurement may mitigate boom-bust cycles curbing South Africa’s green industrialisation
18th April 2024 By: Terence Creamer

The combination of public and private procurement of large-scale renewables in South Africa signals increased stability for manufacturers of key components, a new GreenCape report argues. Published... 


Election posters
Goldman says South African market ‘tough’ before election
18th April 2024 By: Bloomberg

South African investors are holding off on big moves before the vote next month, Goldman Sachs Group said, as the elections shape up to be the most pivotal in 30 years. Assuming the vote is... 


Finance Minister Enoch Godongwana
South Africa contingency reserves won't be spent on Eskom, Transnet – Godongwana
18th April 2024 By: Reuters

South Africa will use future drawdowns of its Gold and Foreign Exchange Contingency Reserve Account to curb its debt burden, Finance Minister Enoch Godongwana said, adding he was pondering tax... 


Rand Currency
Reserve bank to cut rates less than earlier thought in 2024 – poll
18th April 2024 By: Reuters

South Africa's central bank is now predicted to deliver only 50 basis points of interest rate cuts this year, less than earlier projected as inflation is seen taking slightly longer to return to... 


Equatorial Guinea President Teodoro Obiang Nguema Mbasogo
Africa’s oldest oil-rich dictatorship has a succession problem
18th April 2024 By: Bloomberg

Two South African engineers working in Equatorial Guinea’s offshore oil fields were preparing to return home in February 2023 when they were arrested for cocaine trafficking and thrown in jail,... 


Consumers
South Africa inflation slows slightly more than expected in March
17th April 2024 By: Reuters

South Africa's headline consumer inflation fell to 5.3% year on year in March from 5.6% in February, statistics agency data showed on Wednesday. Analysts polled by Reuters had forecast that... 


UNTD secretary-general Rebeca Grynspa
UNTD calls for more fiscal flexibility to help developing countries reach SDGs
16th April 2024 By: Marleny Arnoldi

While the global economic slowdown in 2023 was less severe than expected, intergovernmental organisation United Nations Trade and Development (UNTD) has warned that a further deceleration in global... 


A person using candles during power cuts
Stage 16 loadshedding code seeks to reduce human error not signal imminent surge in cuts – Nersa
16th April 2024 By: Terence Creamer

The National Energy Regulator of South Africa (Nersa) has belatedly moved to quell concern that its recent approval of a new loadshedding code of practice, which increases the number of potential... 


Image of Cyril Ramaphosa
PSA advises Ramaphosa to delay signing NHI Bill into law
16th April 2024 By: Thabi Shomolekae

Given the uncertainty surrounding the political landscape after the May elections, the Public Servants Association (PSA) has advised President Cyril Ramaphosa to delay the signing of the National... 


Power lines over an informal settlement
South Africa’s ranking in World Energy Trilemma Index falls
16th April 2024 By: Terence Creamer

South Africa has fallen to sixty-ninth from sixty-fourth on the World Energy Council’s (WEC’s) latest World Energy Trilemma Index which ranks more than 100 countries against the three key... 


Treasury logo
Treasury welcomes IMF report ranking SA top 3 in fiscal transparency
16th April 2024 By: Sashnee Moodley

The International Monetary Fund’s (IMF’s) Fiscal Transparency Evaluation Report has placed South Africa in the top three countries in terms of transparent fiscal practices, which National Treasury... 


Oil rig
Oil price eases but IEA says Middle East tensions heighten global supply risks
15th April 2024 By: Terence Creamer

Despite a forecast of slowing oil demand and a likely peak in consumption by the end of the decade, the International Energy Agency (IEA) warned on Monday of heightened global oil security risks in... 


A child selling food items in Nigeria
World Bank sounds alarm on 'historical reversal' of development for poorest nations
15th April 2024 By: Reuters

Half of the world's 75 poorest countries are experiencing a widening income gap with the wealthiest economies for the first time this century in a historical reversal of development, the World Bank... 


Power lines
Eskom mulls private, foreign options on R390-billion grid build
12th April 2024 By: Bloomberg

South Africa’s State-owned power utility Eskom said it’s in talks with government ministries over private and foreign options to fund a R390-billion expansion of its transmission network as more... 


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... 


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