People work in a chicken processing plant. 1 minute University of Johannesburg’s Director of the Centre for Africa-China Studies David Monyae says the newly imposed tariffs on South Africa by the United States points to the death of the African Growth and Opportunity Act (AGOA). US President Donald Trump last week imposed a 31% duty…
Kenyan workers prepare clothes for export. 1 minute Investment analyst Roy Mutooni says Africa should start searching for new trade markets in the continent as the US imposes tariffs on countries around the world. Many countries including China have imposed tough reciprocal tariffs. Mutooni says the biggest advantage for investment is now in Africa itself…
Rand notes in a wallet. 1 minute BankservAfrica’s Economic Transactions Index (BETI) has recorded an increase in economic transactions in March. This comes despite tough economic conditions including an intensifying global trade war. The BETI measures the value of all electronic transactions cleared through BankservAfrica on a monthly basis at seasonally adjusted real prices. It…
An investor walks past an electronic board displaying live market data 1 minute Markets have been in turmoil as US President Donald Trump’s global tariffs officially came into effect today. Analysts note that emerging markets typically struggle during times of uncertainty and this is particularly the case for South Africa, which relies on the US…
A spaza shop in the Johannesburg CBD. 1 minute Community members including spaza shop owners have gathered in large numbers at Eyethu Shopping Centre in Soweto ahead of the official launch of the Spaza Shop Support Fund. Many say they are there to gain more information on how they can benefit from the half-a-billion rand…
Banknotes of Chinese yuan and US dollar are seen in this illustration picture 3 minutes The US dollar fell on Tuesday while the euro rallied as stocks rebounded in Asia and Europe on hopes that U.S. President Donald Trump will enter negotiations over his sweeping tariffs that have roiled markets for three days. Rises in both…
1 minute Parliament’s Portfolio Committee on Trade, Industry and Competition says the South African Bureau of Standards (SABS) is on the verge of collapse. Among the problems it highlighted was the agency’s inability to carry out basic functions such as product testing. The Committee visited the agency’s headquarters in Pretoria on Monday. Committee member Toby…
3 minutes The safe havens yen and Swiss franc held near six-month highs on Tuesday while the US dollar nursed broad losses as financial markets grappled with mounting recession worries in the wake of President Donald Trump’s sweeping tariffs. The currency markets were fragile but eerily calm in Asian trade after a volatile 24-hour period…
South African rands. 1 minute The rand has continued to weaken further against major currencies amid an ongoing selloff in the financial markets triggered by the US tariffs. The currency fell sharply against the US dollar to R19.41. The local unit briefly plummeted to a record low of R25 against the British Pound earlier in…
Tax-related material on a desk. 2 minutes African National Congress (ANC) President Cyril Ramaphosa says the Value-Added Tax (VAT) increase decision is not final, as the National Treasury has about 30 days to find possible alternative options to raise the money it needs. The party’s president was speaking during a media briefing at Chiawelo in…
