South Africa's economy, which was once considered a darling among foreign investors, have slumped over the previous 18-month period. Market experts view the current economic situation as a major risk factor for further investment in the country.
South Africa
South Africa’s New Energy Plan Proved Effective as Electricity Remains Stable Since March
South African government and Eskom’s energy plan proved successful as the country has not experienced any power outages for the past four months, the longest period of stable electricity in over four years.
ZA Retailer Pepkor Reports 3.1% Revenue Drop, Cites Supply Chain Disruptions on Imports
South African company Pepkor Holdings reported a 3.1% fall in its half-year earnings report due to ongoing supply chain disruptions at local ports that impacted its merchandise imports, but also reported a 9.5% revenue rise compared to the similar time period last year.
South Africa's Return To Office Gets Middle Finger From Employees Office-Based Work Policies Increase in 2024
South Africa's return-to-office efforts get a middle finger from employees. Office-based policies are now increasing.
South Africa's Wheat-Import Tariff Increase Could Worsen Inflation
South Africa is experiencing wheat shortages prompting grain importation. The increased tariff has been approved but Treasury requested the Trade and Industry sector to review it as it will affect the prices of staple food.
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South Africa's energy crisis will now be answered by the launching of the largest solar farm built in Northen Cape. It could generate power that could supply electricity from renewable energy to 75,000 households yearly.
South Africa's output in the manufacturing and mining sector might not be a good sign to start the year right. More mining sites stopped their operations creating illegal mining. The president should do something as investors are skeptical on how he handles the country's economic situation.
South Africa's gold industry is degenerating along with its economy. With the shut down of many gold mines, many workers are laid off leaving them no jobs and no food. This forces them to mine illegally and make their lives in jeopardy.
Giant South Africa-based international banking group Old Mutual has stated that they are considering all options as a result of a strategic review. Many believe that the group is planning to split itself into several business units.
South Africa’s currency has dropped to its four-year low after the news of the country’s finance minister threats of resignation was reported. Finance minister Pravin Gordhan threatens to resign over a spat with Tom Moyane, as the minister demanded the tax commissioner to be dismissed, or he himself would leave.
White people were once ruling and oppressive class in South Africa, As government wipe out the apartheid, unskilled white people are ousted and have to live in slums. There are more than 400,000 white people live in poverty.
Next week, Eskom will be paid the remaining balance from the bailout. Eskom CE Brian Molefe expressed frustration to learn that Finance Minister Pravin Gordhan announced that the funds will be withheld. Treasury informed that the fund will be transferred and is already being processed.
Anheuser-Busch InBev NV has reported a10 percent drop in profit for fourth quarter of 2015. The brewer is suffering from sluggish market in the US. As a result, revenues for fourth quarter fell to $3.23 billion from $3.33 billion.
South Africa's unemployment rate drops to 24.5% in the fourth quarter due to increased employment in the finance industry which offsets job losses in agriculture and construction sector. But with the major sectors laying off jobs, and the cost cutting of the government will sure make the unemployment rate will rise again.
