SA’s economy shrank by 0.6% in the three months to end-September, Stats SA announced on Tuesday. This is the second time this year that SA’s economy has contracted. In the second quarter of the year the economy grew by 3.1%, after shrinking by 3.2% in the first quarter. Stats SA said one[…]
In a struggling economy like South Africa’s, purchasing legitimate – and often expensive – goods is a luxury not all can afford. Many in Cape Town, at least, know of someone or someplace that stocks counterfeit goods and often, very secretively, purchase from these distributors. However, many overlook the economic[…]
The Commission for Conciliation Mediation and Arbitration (CCMA) says it foresees more retrenchments in workplaces, as factors such as the Fourth Industrial Revolution (4IR) take over. “Currently, the biggest contributor to retrenchments is the 4IR. We are seeing that based on the number of referrals we are receiving. We do[…]
Credit rating agency Moody’s says while SA’s credit profile is “resilient to shocks” that support its investment-grade rating, the country’s credit profile is likely to continue to erode. South Africa faces weak long-term growth despite its favourable government debt structure, it said. Moody’s is the only international credit rating agency[…]
The slow South African economy may be forcing a higher rate of early retirement and, therefore, increasing the number of pensioners, according to the latest BankservAfrica Disposable Salary Index (BDSI) released on Wednesday. It may also be a sign that more people are being retrenched and taking a lump sum,[…]
Finance Minister Pravin Gordhan’s efforts to restore investor confidence in Africa’s most-industrialised economy and ward off a junk credit rating are being frustrated by the very man who appointed him to his post. President Jacob Zuma has spent the past five months lurching from one scandal to the next and[…]
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