“Very small” S.A stimulus to have little impact: Moody’s

26 September 2018, 5:02 PM
The tiny size of South Africa’s stimulus programme means it is unlikely to have much of an impact, with fiscal constraints preventing the government from pumping in much new money, Moody’s lead analyst for the country said on Wednesday.
Repossessed Home
Unpacking repossessed houses 17 September 2018, 10:21 AM

Many people consider their property as their sole investment. However, what happens when a home owner is faced with financial hardships and defaults on their mortgage bond repayments agreement between borrower and lender.

Amazon black and yellow logo
Amazon probing staff data leaks 17 September 2018, 6:04 AM

Amazon is investigating allegations that some of its staff sold confidential customer data to third party companies particularly in China, the online giant confirmed on Sunday.

DRC out to capitalise on recovering mining industry 16 September 2018, 12:03 PM

The Democratic Republic of Congo wants special economic zones for its growing mining industry to encourage companies who export raw materials to transform them into finished products locally, president Kabila said this week at a mining conference.

Unity among political parties could address economic challenges: Analyst 16 September 2018, 9:07 AM

Political analyst at the Tshwane University of Technology, Mashupye Maserumule, says political leaders should look into the framework of anti-apartheid activist, Steve Biko's Black Consciousness Movement to help combat poverty, unemployment and inequality.

NW Premier Job Mokgoro
Government and business in N West working in silos 15 September 2018, 8:22 PM

Government and business owners in the North West province are working in silos.

The institute will study the rollout of 5G networks.
BRICS takes step closer to set up Institute for Future Networks 15 September 2018, 3:05 PM

BRICS is a step closer to establishing an Institute for Future Networks. This emerged from the declaration that was adopted at a summit of BRICS telecommunication ministers in Durban.

Argentina’s currency crisis a boon for foreign tourists 15 September 2018, 10:20 AM

Argentines may be feeling the pinch of their country's economic woes, but for tourists, the troubled peso is proving a holiday boon.

SA needs more innovators in ICT sector 14 September 2018, 5:59 PM

Telecommunications and Postal Services Minister Siyabonga Cwele says South Africa must ensure it’s not left behind in the fast growing ICT industry.

Anglo American asks Angola for permission explore for metals 14 September 2018, 4:26 PM

Anglo American, one of the world’s largest commodities miners, has asked Angola for permission to explore for base metals, the country’s ministry for mines said on Friday.

IMF says Kenya’s external position is strong as standby deal expires 14 September 2018, 4:07 PM

The International Monetary Fund considers that Kenya’s external position is strong, its representative in Nairobi said on Friday, adding that the Fund would continue to support its reform efforts even though a stand-by loan deal has expired.

Unions reject retrenchment proposal at the SABC 14 September 2018, 4:03 PM

The SABC is contemplating retrenchments.  However this will take place in consultation with unions.

Prasa sets out plans to get on track 14 September 2018, 11:21 AM

The Passenger Rail Agency's Interim CEO, Sibusiso Sithole, says recovery plans are being crafted to help better the organisation.

SA considers incentives for early retirement in public sector 14 September 2018, 5:55 AM

Finance Minister Nhlanhla Nene says government is considering incentives for workers who want to exit the public sector early.

Drugmaker Aspen sells baby milk business to dairy giant Lactalis 13 September 2018, 7:19 PM

Aspen Pharmacare has agreed to sell its infant formula business to Lactalis for 12.9 billion rand ($865 million) to focus on core activities while the French buyer looks to revive its baby milk expansion after a health scandal.

Implats CEO confident of funding during restructuring 13 September 2018, 6:37 PM

South Africa’s Impala Platinum (Implats) is confident of having adequate cash while restructuring its operations and cutting its workforce despite reporting a wider full-year loss on Thursday.

Kenya says IMF stand-by arrangement over, still engaging with the fund 13 September 2018, 6:29 PM

Kenya’s stand-by loan deal with the International Monetary Fund has expired but the country will continue to talk to the Fund about what funding facilities it can access in future, Finance Minister Henry Rotich said on Thursday.

July mining production output disappoints 13 September 2018, 5:32 PM

Data that Statistics South Africa has released shows a significant decline in mining production which decreased by 8.6% in July 2018, compared to June 2018.

Rand shines after Turkish rate hike, Moody’s comments 13 September 2018, 5:31 PM

South Africa’s rand raced to its highest in over a week on Thursday, erasing all of the losses suffered after the economy slipped into recession, as a rate hike in Turkey and Moody’s decision to hold fire on a downgrade boosted demand.

Expired sign
Food manufacturers could soon be forced to use 2D serial barcode 13 September 2018, 4:06 PM

The Consumer Goods Council says it's looking at ways of assisting consumers to view details of each food product before buying it.

Moody's logo
“Land debate is creating policy uncertainty in the country” 13 September 2018, 1:22 PM

Rating agency Moody's says the current land debate is creating policy uncertainty in the country. Addressing the media in Johannesburg, Moody's Senior Credit Officer Lucie Villa says investors are more interested in how the land reform will be carried out.

Goods on store shelves
‘Consumers still face tough times ahead’ 13 September 2018, 9:16 AM

Economists say although retail trade sales showed a slight improvement, consumers still face tough times ahead. Statistics South Africa reported that retail trade sales increasing by 1.3% in July 2018, from a 1.1% slowdown in June 2018.

South Africa’s business confidence index falls in August 12 September 2018, 6:38 PM

South Africa’s business confidence fell in August to 90.5 from 94.7 in July after activity was hit by a decline in merchandise export volumes, a weaker rand and higher inflation, a survey showed on Wednesday.

Kenyan central bank fines five banks a total of $3.89 mln 12 September 2018, 6:08 PM

Kenya’s central bank on Wednesday said it had fined five commercial banks a total of 392.5 million shillings ($3.89 million) in connection with the theft of funds at the National Youth Agency, a government body said.

SIU to probe whether kickback was paid for SAP contract 12 September 2018, 5:40 PM

South Africa’s Special Investigating Unit (SIU) will investigate whether a kickback of more than 35 million rand ($2 million) was paid for a state contract with German software firm SAP, a spokeswoman for the unit told Reuters.

Govt to finance Digital development through PPP’s: Cwele   12 September 2018, 12:21 PM

Minister of Telecommunications and Postal Services, Siyabonga Cwele says South Africa has already made strides in the implementation of a broadband policy: South Africa Connect. Speaking at the ITU gathering underway in Durban, he emphasised the private sector’s contribution to ensure that the vast majority of South Africans are involved in activities of the internet. The pilot […]

Hand filling fuel to a car with a red arrow.
National Assembly to debate fuel price 12 September 2018, 12:10 PM

The National Assembly on Wednesday will debate the fuel price crisis and how South Africa has slipped into a recession. 

Transnet to expand Durban Container Terminal 12 September 2018, 9:30 AM

Transnet has announced it will start working on the R7.7 billion berth reconstruction project of the Durban Container Terminal (DCT).

Crude oil
Oil prices rise on declining US crude stockpiles 12 September 2018, 7:20 AM

Oil prices rose on Wednesday following a report of declines in US crude inventories and as looming sanctions against Iran raised expectations of tightening supply, while top producer Russia warned of a fragile global crude market.

EU’s Juncker eyes Africa free trade pact 12 September 2018, 6:42 AM

 The European Union could one day offer a free trade agreement to the whole of the African continent, European Commission President Jean-Claude Juncker will say in a keynote speech on Wednesday

South Africa’s July manufacturing output up 2.9% 11 September 2018, 8:10 PM

South Africa’s industrial output expanded in July as food and motor vehicle output rose, easing pressure on an economy that recently slipped into recession and is struggling for investment amidst policy uncertainty and possible credit downgrades.