October 2019

31 October 2019 – Finance Minister Tito Mboweni has slashed the country’s growth prospects by more than 70 percent from his estimates in February, warning that the debt-to-gross domestic product (GDP) ratio had reached unsustainable levels and that it needed to be contained for the government to free some cash for spending. Mboweni said South Africa […]

30 October 2019 – The European Union (EU) pushed for an African free trade agreement at the opening of the Southern Africa Europe CEO Dialogue in Sandton, Johannesburg on Tuesday. Newly-appointed European Union (EU) Ambassador to South Africa, Riina Kionka stated that with R1.4 trillion in investment stocks, South Africa’s major trade partner is the

29 October 2019 – The ANC’s Minister for Economic Development, Ebrahim Patel, has concluded a groundbreaking new trade deal with the UK, ensuring all existing trade arrangements and more have been cemented prior to the UK’s departure from the European Union (EU). With the prospects of a no-deal Brexit having risen significantly in recent months,

28 October 2019 – South African exports to the United States worth some R35 billion last year will be at stake when the Office of the United States Trade Representative launches a review of SA’s eligibility for duty-free imports under the US system known as the Generalised System of Preferences, or GSP. The US federal government announced plans

25 October 2019 – South Africa’s position in the World Bank’s latest ‘Ease of Doing Business Ranking’ has deteriorated, dropping to 84 out of the 190 countries surveyed, from 82 in the previous report. New Zealand once again topped the ranking, followed by Singapore and Denmark, while Somalia, Eritrea and Venezuela propped up the table.

24 October 2019 – The SA Reserve Bank’s composite leading business cycle indicator compiled by looking at monthly movements in economic indicators such as building plans passed, commodity prices and new cars sold fell for the 11th consecutive month in August on an annualised basis, again confirming that SA’s fragile economy is struggling to gain

23 October 2019 – Goldman Sachs sees a silver lining for South Africa: The economy is at its lowest point and the only way is up. “The bad news is we are at 0.6% growth for 2019,” Colin Coleman, a partner and head of sub-Saharan Africa for the New York-based bank, said in Johannesburg last

22 October 2019 – As Brexit unfolds without a clear and predictable outcome, the question is, what are the implications of various possible outcomes for South Africa and the region’s agriculture sector? The news cycle has mainly centred on Brexit this past week as talks between the United Kingdom and European Union culminated in a

21 October 2019 – Consumer inflation and SA’s business conditions are in focus in the week ahead, though any positive surprises may be overshadowed by rolling blackouts. Unreliable electricity supplies were a major factor in SA’s shock 3.2% first-quarter GDP contraction. “Load-shedding is estimated to be costing the economy in the region of R2bn a

18 October 2019 – Just as hopes of a Brexit deal between the United Kingdom and European Union started to wane on Thursday, news came that a deal had been struck.  The agreement will see the British territory of Northern Ireland remain in the same customs area as the EU – which means there will be