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[…]
President Cyril Ramaphosa says there has to be life beyond the Covid-19 pandemic. Ramaphosa was addressing a virtual Youth Day discussion on Tuesday focused on the Covid-19 pandemic, and he encouraged young people to take the lead in turning around the economy. “We are looking forward to innovation and creativity[…]
As of 1 May, a national curfew from 20:00 to 05:00 will be in place and it will be applicable to everyone except essential workers traveling to and from work. The country is expected to move from a Level 5 to a Level 4 lockdown, allowing limited economic activity but[…]
President Cyril Ramaphosa has shed light on what the country’s new reality will look like when the lockdown continues beyond the end of April, albeit in another format. South Africans entered the lockdown at midnight on 26 March to prevent the spread of the Covid-19 pandemic. It was expected to[…]
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