Tag Archives: South African Economy

Nhlanhla nene finance minister

SA’s Economy Faces Difficult Future, Says Nene

South Africa’s government finances are in a tough position, said Minister of Finance Nhlanhla Nene on Thursday. Nene said international interest rates, growing debt and industrial action have had a negative effect on the country’s fiscal outlook. “The fiscal space has been eroded by growing debt, but we seek to seek to stabilize this growth.

Money, South African Rand

South Africa Avoids Recession As Economy Grows 0.6%

South Africa’s economy has narrowly avoided slipping into a recession after it grew 0.6% in the second quarter of this year, said Statistics South Africa on Tuesday. According to the report, the seasonally adjusted real gross domestic product (GDP) at market prices for the second quarter of 2014 increased by 0.6% compared to a decrease

Bleak Future Ahead For Platinum Sector

Job cuts, labour legislation reform and widespread poverty could be a reality for miners after the prolonged strike in the platinum sector left a permanent scar on the industry. Although workers reported back to the mines on Wednesday after five months of strike action, labour economist Loane Sharp said the long-term prospects of the strike

credit rating

Fitch Ratings Downgrades SA’s Outlook to Negative

South Africa’s outlook was downgraded from stable to negative by Fitch Ratings agency on Friday. The downgrade was attributed to the ongoing labour unrest in the country, power constraints and sluggish economic growth. Fitch downgraded its gross domestic product growth forecasts to 1.7 percent in 2014 from a previous estimate of 2.8 percent, and 3

Gill Marcus

Strike and Power Constraints Pose Major Risks for Economy

South Africa’s economic performance is on a five month decline, according to BankservAfrica’s Economic Transaction Index (BETI) released on Wednesday, raising serious fear of economic recession. “Although the possibility of a recession may not be a hard fact as yet, the overall economic transactions are starting to show that all is not well,” said economists.co.za

small business

Zuma’s Small Business Ministry: Help or Hindrance

By Ebrahim-Khalil Hassen A curious debate between agency and structure has unfolded in South Africa in relation to “small business” over the last two decades. On the one hand, the celebration of successful entrepreneurs as exceptional individuals has led to an explosion of self-help blogs, courses and books. Successful South African entrepreneurs in every niche