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Minister in the Presidency for Planning, Monitoring and Evaluation Maropene Ramokgopa. Photo: Supplied.

High levels of corruption cripple SA municipalities but government optimistic about improvements, Ramokgopa says

Minister in the presidency for planning, monitoring and evaluation said there had been progress in implementing the country’s medium-term development plan, running from 2024 to…

There has been progress since 1994. South Africa now has a black middle and upper middle class but the means of production remain largely owned by white people and black people swelling the ranks of labour. Photo: Mujahid Saofodien/AFP)

South Africa’s economy expands by 0.6% in fourth quarter of 2024

The agriculture sector was up 17.2% and was the largest contributor to GDP growth during the period

Businesses must demonstrate resilience amid local systemic challenges to attract foreign investment. (Waldo Swiegers/Bloomberg via Getty Images)

SA’s economy contracts 1.3%, adding to bleak growth outlook

Decline in the country’s GDP – largely due to record-levels of load-shedding – puts the size of the economy back below pre-pandemic levels

Thousands of people line up at the labour department to apply for UIF during the Covid pandemic. Photo: Delwyn Verasamy

The BIG fix: Effective basic income grant will soothe ailing economy

The government needs to cough up for an effective basic income grant if it wants to achieve a 6% GDP growth rate

Despite last year’s riots, South Africa has been ranked 118 out of 163 countries in the 2022 Global Peace Index. Photo: Marco Longari/AFP

July protests take their toll as economy shrinks by 1.5%

The largest drops in the third quarter were in the agriculture sector, trade and manufacturing.

Desolate: In March 2020, under the first lockdown, Durban’s North Beach was deserted save for a rickshaw puller. The 1.5-million-strong hospitality industry has been decimated by the pandemic. (Rajesh Jantilal/AFP/Getty)

Tourism, hospitality and restaurant sectors welcome vaccine passports

Vaccine passports prove to be a contentious issue for tourism, hospitality and restaurant sectors as some welcome them and some have fears of placing another hurdle ahead of…

Banking on the future

Savings rise amid Covid fallout

Low interest rates usually encourage spending, but uncertainty created by the pandemic has driven people to save their cash in hard times

Economists widely expect the South African Reserve Bank’s monetary policy committee to once again hold the interest rate at 8.25% when it concludes its meeting on Thursday.

Reserve Bank keeps repo rate unchanged

The South African Reserve Bank cautioned that if it was not for load-shedding, the country’s economy could have been stronger

Youth unemployment is at an all-time high. Photo: Oupa Nkosi/M&G

Austerity budget unpacked

The finance minister has said it’s not an austerity project. But the numbers and economists disagree

Reserve Bank stands at the ready to act if the rise in inflation threatens to become permanent

Repo rate remains unchanged at 3.5%

The South African Reserve Bank’s MPC has decided to keep the repo rate unchanged, at 3.5%, to let the actions it took last year trickle down into the economy

According to Statistics South Africa (Stats SA), the country’s economy grew at an annualised rate of 66.1% in the third quarter of 2020. Without annualising, the quarter-on-quarter seasonally adjusted growth rate was 13.5%.

South Africa records impressive economic recovery

The country’s economy grew at an annualised rate of 66.1%, marking the strongest pace of expansion since at least 1993

Waste not, want not: A farm in Limpopo. In South Africa, the agriculture industry accounts for 50% of food wastage.

Biodiversity is crucial for South Africa’s food security

Farming must embrace sustainable, regenerative agriculture practices to secure our future

Destruction: Cape Town metro police watch for flare-ups after the 2015 violent protests in the Masiphumelele settlement, which were sparked by the arrest of residents linked to vigilante killings. (David Harrison/M&G)

The price of violence: R145-billion

The costs include expenditure on security, justice and health rather than on productive efforts, investment is driven away and psychological effects results in lower productivity

An estimated 40 000 beneficiaries of the Government Employment Pensions Fund (GEPF) received sharply reduced income for October due to tax deductions as high as 60% in some cases.

Tax the super rich and raise inflation to cut state debt, inequality and poverty

The richest 10% of South Africans own over 85% of all private wealth and a once-off 25% tax would reduce government debt by more than half. Imagine what a five-year wealth tax…

Trade, Industry and Competition minister Ebrahim Patel.

Patel: South Africa on target to attract R1.2-trillion in investments

The trade minister says the country is on track to reach more than R1-trillion worth of investments over five years, despite Covid-19 disruptions

Walking the tightrope: Finance Minister Tito Mboweni makes tough budgetary decisions. (Dwayne Senior/Bloomberg via Getty Images)

State’s wage freeze sparks apoplexy

Public sector unions have cried foul over the government’s plan to freeze wages for three years and have vowed to fight back.

Striking for their rights: Cosatu members protesting in Johannesburg. The trade union federation has previously threatened to dump its alliance with the ANC if planned cuts to the public-sector wage bill go ahead. (Delwyn Verasamy/M&G)

Mboweni plans to freeze public sector wage increases for the next three years

The mid-term budget policy statement delivered by the finance minister proposes cutting all non-interest spending by R300-billion.

Finance Minister Tito Mboweni. (David Harrison/M&G)

No need to worry about the mid-term budget being postponed, say economists

Minister of Finance Tito Mboweni has asked for a week’s delay in presenting the medium term budget policy statement.

Lesetja Kganyago, governor of the Reserve Bank. (Simon Dawson/Bloomberg/Getty Images)

Further Reserve Bank repo rate cut unlikely this year

The central bank estimates that gross domestic product (GDP) to contract by 8.2% in 2020

People wait in line to receive food at a food bank on April 28, 2020 in the Brooklyn borough of New York City. Food banks around the nation have witnessed a surge in clients as millions of Americans have either lost jobs or seen a decline in income due to the continued closure of businesses and economic life because of the coronavirus pandemic. (Photo by Spencer Platt/Getty Images)

Global job losses linger after lockdowns

Developing countries have been hit harder by the Covid-19 downturn than in past economic crises