The tough economic climate that many South Africans find themselves submerged in amid the 2020 pandemic will not be easier this festive season. This is according to new data which revealed that the price of basic goods could increase during the festive season. The financial impact was felt across the[…]
In his latest weekly letter to the nation, President Cyril Ramaphosa has focussed on the economic “green shoots” emerging following the hard lockdowns earlier this year in response to the Covid-19 pandemic. While warning that any massive resurgence in infections would reverse any gains made so far, Ramaphosa said that[…]
President Cyril Ramaphosa will chair the virtual inaugural meeting of the Presidential State-Owned Enterprises Council on Thursday morning. The meeting will discuss the country’s Economic Reconstruction and Recovery Plan. It will also look at an overview of the different state-owned enterprises and the council’s terms of reference. A number of[…]
As the country anxiously awaits the details to President Cyril Ramaphosa’s economic recovery plan for South Africa, civil society unions have called for governments grants to be increased and extended. It comes amid bleak predictions for the country’s economy, which has been hard hit by restrictions imposed to prevent the[…]
Liquor group Distell says SA’s prohibition on liquor sales cost it an estimated R4.3bn in lost revenue during its year to end-June, when volumes fell more than a fifth. Group profit just more than halved to R394.6m, with Distell saying volumes in SA fell a quarter, with the restrictions on[…]
Five months into the Covid-19 pandemic, financial distress remains a concern among South Africans, with as many as 61% reporting a loss of income. This is according to the latest research results on the socio-economic impact of the coronavirus conducted by the market research company Ask Afrika. The survey also[…]
Government has given the assurance that it has put in place mechanisms against corruption and nepotism to protect its plan to revive the economy. The state is preparing to embark on various infrastructure investments as the country faces a deepening economic crisis, job losses and a recession which has been[…]
Economists and industry experts say although President Cyril Ramaphosa has announced that the country will move from alert Level 3 to 2 of the lockdown, the damage has already been done. They, however, say the further opening up of the economy is welcome news. The ban on tobacco and alcohol[…]
Even before the biggest blow of the coronavirus crisis landed – and despite a rush to stockpile goods ahead of the national lockdown – SA’s gross domestic product (GDP) shrank by 2.0% in the first quarter of 2020. This was the third consecutive quarter of economic contraction, but actually a[…]
South Africa’s Cooperative Governance Minister Nkosazana Dlamini-Zuma on Tuesday told the National Council of Provinces it was President Cyril Ramaphosa’s instruction that the economy be reopened slowly from a lockdown as the country continues to battle the Covid-19 pandemic. “As we eased the lockdown, the president said we must not[…]
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