February 2020

28 February 2020 – South Africa risks forfeiting tariffs on about R70 billion ($4.5 billion) worth of trade when a continent-wide free-trade agreement kicks in, according to the country’s tax commissioner. The first trade under the African Continental Free Trade Area, which could cover a market of 1.2 billion people with a combined gross domestic […]

27 February 2020 – The budget delivered by finance minister Tito Mboweni highlights the “severe deterioration” of public finances and the long-term policy challenge of stabilising government debt, credit ratings agency Fitch said in a statement late on Wednesday evening. “Fiscal metrics worsened moderately compared with the medium-term budget policy statement (MTPBS) in October, despite

26 February 2020 – Finance Minister Tito Mboweni will deliver his 2020 Budget address as the country battles record-high unemployment, depressed economic growth, the likelihood of tax revenue shortfalls, and grim warnings that South Africa is marching towards a downgrade by Moody’s, the last major ratings agency to still assess SA’s sovereign debt at investment grade. From the prospect

25 February 2020 – The lifting of a ban by the Zimbabwean government on genetically modified (GM) maize imports has created significant opportunities for South African maize farmers. Zimbabwe is battling its worst drought in 40 years, the economy is in free fall, and more than half of the country’s population is in need of

24 February 2020 – An extra tax on income for individuals and companies and another VAT hike are on the cards when South Africa’s “do or die” 2020/21 Budget is delivered next Wednesday. While VAT was increased to 15 percent in February 2018 and was then left untouched last year, Old Mutual Investment Group’s chief economist Johann Els

21 February 2020 – Uncertainty has become the new normal as climate change calamities and sporadic disease outbreaks such as the coronavirus in China cause supply chain disruption and restrictions to travel and tourism, International Monetary Fund (IMF) executive Kristalina Georgieva says. Writing at a time when the finance ministers and central bank governors from

20 February 2020 – South Africa’s inflation rate rose to a seven-month high in January driven by higher fuel prices. Consumer-price growth quickened to 4.5% from 4% in December, Statistics South Africa said Wednesday in a statement. The median estimate of 19 economists in a Bloomberg survey was 4.6%. Key Insights The increase is unlikely to

19 February 2020 – The global retail market is expected to remain weak in early 2020, according to the World Trade Organization (WTO) Goods Trade Barometer, which noted that global trade could suffer even further following the outbreak of the coronavirus. In a statement on Monday, the intergovernmental organisation said the latest barometer results proved

18 February 2020 – The prospects for South Africa’s agricultural exports in 2020, particularly of maize, wine and fruit, are on the up. However, the red meat sector is an industry that is still on the back foot because of biosecurity concerns. After reaching a record level of $10.6-billion in 2018, South Africa’s agricultural exports

17 February 2020 – South African exports to the US are unlikely to be affected by the Trump administration’s decision to remove the country’s exemption from trade-remedy laws, according to the South African government. The US last week narrowed its internal list of developing and least-developed countries, including South Africa, China and India, in order to reduce