Reserve Bank Governor Lesetja Kganyago has announced that the repo rate will be cut by 25 basis points – meaning that the prime lending rate will decline to 10.25%. Kganyago made the announcement in Pretoria on Thursday, following the three-day Monetary Policy Committee meeting. The rate cut was widely expected. Announcing the rate cut in…
A view of Cape Town International Airport. Local and international flights are currently being affected by a shortage of aviation fuel at the Cape Town International Airport. The Fuels Industry Association of South Africa Chief Executive, Avhapfani Tshifularo, says the shortage is caused by an ongoing audit process by the South African Revenue Services (SARS)….
The European Union has committed to investing millions of Euros into South Africa for energy and transport infrastructure development. Addressing the media in Sandton, north of Johannesburg, the EU delegation has also raised concerns on the effects of climate change, especially on developing economies. European Commission President Ursula von der Leyen says the EU has…
FILE | Man working digital infrastructure. World Wide Worx CEO Arthur Goldstuck says the G20 can advance digital transformation through public infrastructure. Goldstuck spoke to SABC News ahead of the G20 Leaders’ Summit in Nasrec, Johannesburg, on Friday. He says digital transformation needs three key elements such as reliable infrastructure, digital skills broadly and regulatory…
FILE: President Ramaphosa officiates first meeting of G20 Foreign Ministers under South African Presidency The Global Inequality Report, authored by the G20 panel of experts on inequality and published in early November to coincide with the G20 Summit being hosted in Johannesburg, shows that while total global wealth doubled since 2000 to a staggering US$480…
SA inflation rose to 3.6% in October. Consumer inflation has continued on an upward trajectory, moving further from the Reserve Bank’s new target of 3%. Stats SA data shows the annual consumer price inflation was 3.6% in October, up from 3.4% in September. The main contributors to the acceleration were housing and utilities, and food…
G20 leaders arriving for the summit. International Relations analyst, Oscar van Heerden, has described the arrival of some of the world leaders in South Africa as a significant moment for Africa. This year’s Group of 20 (G20) Summit is being held for the first time in an African nation. It will focus on helping developing…
Mining helmets. The recent 18% surge in commodity prices over the past seven months is set to help mining giant Impala Platinum (Implats) align with the G20’s strategic objectives. This is according to its newly appointed CEO, Moses Motlhageng. Speaking ahead of the G20 Summit scheduled to take place in Johannesburg this weekend, Motlhageng noted…
President Cyril Ramaphosa briefing members of the media. President Cyril Ramaphosa has emphasised that South African business executives have a critical role to play in driving inclusive economic growth on the continent and across the globe. Speaking at a working dinner with some of the country’s leading company CEOs in Sandton, the President stressed that…
Consumers hand over 100 Rand notes for food and other purchases. The Head of Macroeconomic Research at Standard Bank, Elna Moolman, says the impact of the interest rate cut, which was widely expected by markets will only be felt next year. Her comments follow the Reserve Bank’s 25 basis points interest rate cut announcement, which…
