South Africa’s inflation dropped to the lowest level in 20 months in June, slipping back within the central bank’s target range, official data showed on Wednesday. Annual consumer price inflation slowed to 5.4 percent last month, down from 6.3 percent in May, national statistics agency StatsSA said in a statement. The drop was the steepest since […]

Reuters: The South African rand gained strongly on Tuesday, with one analyst saying it had looked undervalued after year-to-date losses and citing support from rising prices for precious metals, a key South African export. SOUTH AFRICAN RAND GAINED At 1550 GMT, the rand traded at 17.8550 against the dollar, about 1% stronger than its previous […]

Money makes money and these 10 people have made a lot of it over the years. And by a lot, we mean a LOT! The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. South African-born Elon Musk is the new richest person in the world, having recently surpassed France’s Bernard Arnault. They are followed by United States’ Jeff […]

The South African rand ended last week in the green, recovering from recent headwinds as risk sentiment turned away from safe-haven assets. The focus last week was on US inflation data which served as the catalyst for a shift towards risk-on investment sentiment. The US inflation rate came in at 3.0% in June, declining from […]

Government has noted Fitch’s decision to affirm South Africa’s long-term foreign and local currency debt ratings at ‘BB-’ and maintain a stable outlook. According to Fitch, South Africa’s credit rating is constrained by low real gross domestic product (GDP) growth hampered by power shortages, high level of inequality, a high government debt-to-GDP ratio, and a […]

There will be three more interest rate announcements in 2023, the next of which will take place this week on Thursday, 20 July at 15:00. Following that, the remaining dates for the year are Thursday, 21 September and Thursday, 23 November. Early suggestions are there could well be yet another interest rate hike on Thursday, dealing yet another blow to South Africans in […]

Reuters: The South African rand retreated on Friday, bringing last week’s rally to a halt as prolonged power blackouts and expectations that the central bank will leave its main interest rate on hold next week weighed on the investor mood. SOUTH AFRICAN RAND RETREATED The risk-sensitive rand has been a big beneficiary of data this […]

Reuters: A sliding dollar was pushed lower still in Asia on Thursday, as traders took surprisingly slow U.S. inflation as a signal U.S. interest rate rises will be all but finished by month’s end. SLIDING DOLLAR WAS PUSHED LOWER The dollar has been steadily slipping for about six weeks, but had its worst session in […]

There will be three more interest rate announcements in 2023, the next of which will take place next week on Thursday, 20 July at 15:00. Following that, the remaining dates for the year are Thursday, 21 September and Thursday, 23 November. Early suggestions are there could well be yet another interest rate hike next Thursday, dealing yet another blow to South Africans in […]

The Post Office joins a string of state-owned entities by going business rescue with yet another government bailout. The South African Post Offices is going into business rescue with yet another government bailout. SAPO has received billions in bailouts over the years without turning a profit. The latest developments mean that thousands of people will lose their […]

Reuters: The South African Rand strengthened on Tuesday following improved local manufacturing output and a weak dollar spurred by expectations of an end to rate hikes in the U.S. SOUTH AFRICAN RAND STRENGTHENED The rand traded at 18.53 against the dollar at 1443 GMT, up 1.3% on its previous close. Data from Statistics South Africa […]

Whistleblowing techniques have been transformed into a valuable product that can be sold and purchased…. writes Godfrey Sigwela. That means the art of whistleblowing has become a sophisticated information technology tool which everyone should learn and understand. Definitely, whistleblowing copies would sell like hot cakes as it seems everyone would like to explore what constitutes the […]

Last week, the South African rand weakened against 14 of the top 19 currencies we monitor. Another slow week of South African data left the emerging-market currency in the hands of global developments. On Wednesday, market participants remained focused on the Federal Open Market Committee (FOMC) meeting minutes, searching for clues about potential future interest-rate […]

Following the start of the 2023 tax season last week Friday (7 July 2023), SARS now allows you to track your tax return status online. The innovative new feature forms part of SARS’ Online Query System and is called My Tax Status Dashboard. TRENDING: 2023 Filing is OPEN … here are 8 tips to help with your tax […]

Money makes money and these 10 people have made a lot of it over the years. And by a lot, we mean a LOT! The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. South African-born Elon Musk is the new richest person in the world, having recently surpassed France’s Bernard Arnault. They are followed by United States’ Jeff […]

Eskom has implemented Stage 4 load shedding immediately following increased demand and lowered generation capacity. The higher stage will be implemented until 5 am on Tuesday morning. This will be followed by Stage 2 until 2 pm with Stage 4 implemented thereafter. The pattern will then continue until further notice. “Over the past 24 hours, […]

Money makes money and these three South Africans have made a lot of it over the years. And by a lot, we mean a LOT! The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. The figures are updated at the close of every trading day in New York. In terms of the overall world list, South […]

Reuters: The dollar clawed back its losses on Monday, recovering from a knee-jerk reaction to data showing U.S. job gains were the smallest in two-and-a-half years, while disappointing inflation figures in China weighed on the yuan and proxies. U.S. DOLLAR CLAWED BACK ITS LOSSES Nonfarm payrolls increased 209,000 in June, figures released on Friday showed, […]

South Africa’s electricity generation capacity continues to show signs of improvement and stabilisation, says Minister in the Presidency responsible for Electricity, Dr Kgosientsho Ramokgopa. This follows work done in the past two weeks. The Minister was speaking on Sunday during his weekly media briefing on progress made regarding the implementation of the Energy Action Plan. Outlining the […]

Reuters: Sterling rose to a two week high against the euro on Thursday, after a survey from the Bank of England showed British companies’ expectations for selling price inflation had cooled. BRITISH POUND STERLING ROSE The BoE’s Decision Maker Panel showed expectations for output price inflation in the coming year fell to 5.3% in the […]

The 2023 tax season, as confirmed by the South African Revenue Service (SARS), will start on Friday, 7 July at 20:00. This year’s tax season will run until Monday, 23 October 2023 for individual taxpayers, and until Wednesday, 24 January 2024 for provisional taxpayers. As reported by The South African website, SARS will once again use its popular auto-assessments in 2023 which have proved successful in recent […]

Two years since the events of July 2021, the South African Special Risk Insurance Association (Sasria) has launched a documentary titled The Unrest. The much-anticipated documentary tells the pivotal role played by Sasria – a public enterprise non-life insurance company – during and post the July 2021 unrest in KwaZulu-Natal and Gauteng. The documentary premiered […]

Reuters: The dollar was higher on Thursday, after the release of minutes from the Federal Reserve’s latest policy meeting cemented market expectations for a rate hike this month. U.S. DOLLAR WAS HIGHER In Asia, the yen hovered near the key 145 per dollar level that spurred intervention by Japanese authorities last September, while a faltering […]

Reuters: The South African rand firmed against the dollar on Tuesday in thin trading amid signs China’s decision to impose export measures on some metals used by the semiconductor industry could help the ailing currency. SOUTH AFRICAN RAND FIRMED Trading was relatively subdued due to a U.S. holiday and lack of local economic data points. […]

The South African and ended up with the short end of the stick again, with the ZAR testing all-time lows against many major currency counterparts. Despite a rather stable week in the forex markets, the ZAR continued along its downward trajectory. South African producer price index (PPI) data came in at 7.3% for the month […]