October 2023

31 October 2023 – South Africa’s economy will likely see a rebound in the next year and a half, outperforming its global counterparts. According to Investec’s Global Investment Strategy Group’s (GISG) Q4 2024 Global Investment Outlook, the global GDP is expected to slow materially over the next 18 months, while the USA is expected to […]

27 October 2023 – The South Africa Poultry Association (Sapa) has welcomed the opening up of imports to fertile eggs for hatcheries including products such as powder and liquid eggs. This comes after Minister of Agriculture Thoko Didiza announced that the government would allow imports of poultry products to ensure sufficient stock for the festive

26 October 2023 – Africa has huge potential to increase bulk exports if it can overcome its logistics challenges. The continent holds about 12% of the world’s oil reserves, 42% of its gold, 80%–90% of chromium and platinum group metals, and 60% of arable land.“ Freight transport in Sub-Saharan Africa (SSA) faces many infrastructural and

25 October 2023 – It is difficult to assess what an expanded Brazil, Russia, India, China, and South Africa (BRICS) grouping will mean for South African trade fortunes and broader economy amid the shifting global power dynamics between North and South, East, and West. However, there are several advantages that could be harnessed, all going

24 October 2023 – Stats SA data shows that 1,240 businesses have closed down since the start of the year – but this is a substantial decrease from 2022. In September, 156 businesses closed down. 138 did so voluntarily, while the other 18 were closed down a compulsory basis. However, this is an 8.2% decrease

23 October 2023 – SOUTH Africa’s stock of layer hens is projected to decline to an all time low of 17.3 million birds due to the avian flu outbreak, down 23.8%, a more than 10 million flock decline from 27.6 million in 2019 as experts predict that it will take the industry at least 17

20 October 2023 – Airfreight import and export figures recorded a remarkable week last week by rising 16%, a stark contrast increase compared to global volume which was down 5%. Imports were up 12% and exports 23%, said British supply chain portal, The Loadstar. At the same time rates are also curving up, as has been

19 October 2023 – The influx of imported goods, especially at much lower prices, can unfairly compete with locally produced goods, potentially leading to the closure of local businesses and job losses. This follows South Africa’s latest import figures which recently increased from R157 981,48 million to R167 982,35 million. South Africa’s unemployment rate was

18 October 2023 – Business insolvencies are normalizing at a high speed Most countries are seeing a sharp acceleration of business insolvencies in 2023. According to data available as of mid-October, the year-to-date number of insolvencies is showing an upward trend in three out of four countries. And most are seeing double-digit rebounds: 11 countries

17 October 2023 – South Africa is set to briefly overtake Nigeria and Egypt as the continent’s largest economy next year, International Monetary Fund forecasts show. The IMF’s World Economic Outlook envisions South Africa’s gross domestic product reaching $401 billion based on current prices in 2024, compared with Nigeria’s $395 billion and Egypt’s $358 billion.