Category: Southern Africa
-
Another increase in personal income rate for S.A?
The Minister of Finance, Pravin Gordhan, announced in the 2016 Medium Term Budget Policy Statement that the tax revenue is projected to fall short by R23billion. So, how will this deficit be made up? A portion will most likely be collected from the Special Voluntary Disclosure Programme currently in place until August 2017. The new…
-
South Africa’s Mondi names Peter Oswald as CEO
South Africa’s Mondi picked insider Peter Oswald as its next chief executive on Wednesday, giving him the challenge of growing its packaging business to offset slowing growth demand for paper. Oswald, a 26-year Mondi veteran who heads its European and international unit, will replace David Hathorn, who is retiring after nearly three decades with the…
-
Zimbabwe:Maize alternatives face challenges
After years of bad maize harvests as a result of worsening drought, farmer Dorothy Chihota switched a few seasons back to growing sorghum, millet, cowpeas, and groundnuts on her 50-acre farm in Uzumba Maramba Pfungwe district. Since then she has had only good harvests, she said – but that doesn’t always mean she has had…
-
S.African mineworkers’ union vows coalmine strike in coming weeks
South Africa’s biggest union of mineworkers plans to launch a strike in coal mines in the “coming weeks” over the structure of industry wage talks, its spokesman, Livhuwani Mammburu, said on Wednesday. The National Union of Mineworkers is opposed to the coal companies’ intention to negotiate wages on an individual basis, rather than collectively under…
-
Black Friday: South African retailers pushing consumers to shop till they drop
Retailers today are continually looking for ways to improve the effectiveness and efficiency of their sales promotion efforts. According to data released by Stats SA last week, retail sales for November 2016 were up by 3.8% mainly driven by Black Friday sales. From an overseas perspective, more than three-quarters (76%) of U.S. consumers spent money…
-
Pests in South Africa maize strongly suspected to be armyworms
A larvae outbreak which has damaged maize in South Africa’s Limpopo and North West provinces is “strongly suspected” to be the invasive armyworm that has attacked crops in neighbouring countries, a scientist said on Monday. The infestation of fall armyworms – an invasive Central American species that is harder to detect and eradicate than its…
-
Oakbay Investments responds to Finance Minister Pravin Gordhan’s affidavit
Oakbay Investments has responded to the affidavit filed by South Africa’s Finance Minister, Pravin Gordhan earlier on Monday. Mr Gordhan’s affidavit said he did not believe there was any bona fide opposition to his application for a declaratory order confirming that he could not intervene in a dispute between Oakbay Investments and the four banks and…
-
S.A:Petrol users to pay more next month
The retail price of petrol in South Africa will rise by 2 percent from Feb. 1, and the price of wholesale diesel will go up by 1.8 percent, the energy department said on Friday. The price of 95 octane petrol will rise by 29 cents to 13.62 rand per litre and 93 octane by an…
-
Rand falls on cabinet reshuffle report; stocks down
South Africa’s rand weakened on Friday, hurt by a stronger dollar and by media reports that President Jacob Zuma was considering firing ministers who opposed him and backed calls for his resignation. Stocks also ended lower, led by financials such as Barclays Africa Group and FirstRand. At 1512 GMT, the rand traded at 13.4600 per…
-
Nigeria, S.A keep rates on hold
South Africa’s central bank kept its benchmark repo rate unchanged at 7 percent on Tuesday, in line with expectations, saying the near-term outlook of inflation has deteriorated while the domestic growth outlook remained constrained. All 27 economists polled by Reuters expected the repo rate to be kept on hold. Below are comments from South African…