Tag Archives: South Africa

PwC lowers SA’s economic growth prospects for 2022 (IOL)

At the start of 2022, PwC’s downside economic scenario suggested real gross domestic product (GDP) growth of 1.6 percent this year and an average inflation rate of 5.6 percent. PwC yesterday said that its current baseline outlook was for 1.8 percent growth and 6.3 percent inflation, which is not far removed from this downside view […]
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Reserve Bank probing its role in mitigating climate change (BL)

The SA Reserve Bank, whose main job is to manage monetary policy, says it has begun work to understand how it can mitigate against climate change, despite this not being the usual work of the central bank. Governor Lesetja Kganyago says in the Bank’s annual report published on Monday that “climate change will have a […]
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SMME’s appealing for access to renewable energy (Sabc News)

Small business owners in the Free State are appealing for renewable energy assistance. They say it is a viable solution to the constant power cuts, and ultimately a solution to save jobs. Entrepreneurs say the unemployment rate in South Africa calls for more strategies to create job opportunities. The unemployment rate has decreased from 0.8% […]
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South Africa is a startup powerhouse that leads the continent for exits, finds new report (Disrupt Africa)

The report will be a deep-dive into the South African startup scene, utilising Disrupt Africa’s datasets, expertise and networks to document what startups are doing what in the country, who is making investments, and who is providing ecosystem support. It takes as its starting point a list of 490 South African tech startups for which […]
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South Africa’s Payfast launches new initiative to upskill aspiring business owners.(ITNA)

A New 12-Week Development Programme Three cohorts of 10 entrepreneurs each, will take part in Khayelitsha, Cape Town, and Elardus Park, Pretoria, as well as via virtual classes. By the time participants graduate in August, each team will have created their own ‘Recipe Book’ on the subject of online shops.This will be developed during weekly […]
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New Gibs case study: When foreign direct investment is threatened: Rio Tinto and Richards Bay Minerals By Amy Fisher Moore and Marianne Matthee

On 29 June 2021, global mining company Rio Tinto (Rio) announced force majeure [1], which temporarily terminated customer contracts associated with their sole South African business, Richards Bay Minerals (RBM) based in the province KwaZulu Natal [2]. RBM was a joint venture between Rio Tinto and Blue Horizon [3], a consortium of investors, also including […]
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Some good news for businesses in South Africa (BT)

New data from Statistics South Africa (Stats SA) shows that the total number of liquidations in April decreased by 12.7% compared to a year ago. Voluntary liquidations decreased by 29 cases, while compulsory liquidations increased by nine cases, it said. Liquidation refers to the winding-up of the affairs of a company or close corporation when […]
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Gauteng premier Makhura partners with SAB to revitalise township economy. (Sunday World)

Gauteng premier David Makhura has entrusted the beer industry with the help to revitalise the province’s economy through investments in the townships. The alcohol industry value chain contributes about R75-billion to South Africa’s gross domestic product, and the beer category is a major contributor to economic activity in Gauteng. It is also crucial to tourism […]
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One of South Africa’s biggest banks is making a permanent shift in how it does business (BT)

FNB plans to continue modernising its branch network with a strong focus on digitisation and smaller branches to cater for digital and face-to-face client interactions. Raj Makanjee, CEO of FNB Retail and Private Banking, says that future FNB branches will be 76% the size they used to be, from an average of 460 sqm to […]
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All hands on deck at the JSE in bid to stem the tide of delistings (DM)

Despite challenges from shareholders, the JSE’s leadership seems confident that it is doing all it can to stem the tide of delistings from the exchange. That said, management remains open to new ideas. The JSE is considering the establishment of a dedicated technology bourse, it is reconsidering the requirement that the public holds 20% of […]
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