Business Unity SA buoyed by earnings growth

Corporate balance sheets are “strong and clean”, Business Unity South Africa deputy chief executive Raymond Parsons said in Parliament on Wednesday.

Parsons said in a submission to the standing committee on finance that earnings growth appeared to have been positive in several sectors.

“Liquidations and insolvencies have declined this year,” he said.

“Private fixed investment is gradually rising. The deployment of commitment of corporate resources will nevertheless depend on improved confidence in the business sector to strengthen economic momentum.

“Busa’s overall impression is that corporate balance sheets are currently strong and clean.”

Parsons said the rand was instrumental in containing inflation for the greater part of 2011, “counteracting” the negative impact of the rapid surge in commodity prices in the first half of the year.

However, the currency’s strength and volatility had hampered export oriented sectors, such as manufacturing, prompting the call for the South African Reserve Bank to intervene more in the currency market.

“According to the IMF [International Monetary Fund], South Africa’s reserves remain below the adequacy range, allowing for more room for reserve accumulation,” Parsons said. — Sapa

These are unprecedented times, and the role of media to tell and record the story of South Africa as it develops is more important than ever. But it comes at a cost. Advertisers are cancelling campaigns, and our live events have come to an abrupt halt. Our income has been slashed.

The Mail & Guardian is a proud news publisher with roots stretching back 35 years. We’ve survived thanks to the support of our readers, we will need you to help us get through this.

To help us ensure another 35 future years of fiercely independent journalism, please subscribe.


READ IT IN FULL: Ramaphosa’s address on the extension of...

This is the full address given by President Cyril Ramaphosa on April 9

Meet the doctor leading Africa’s fight to contain the coronavirus...

Dr Matshidiso Moeti’s father helped to eliminate smallpox. Now she’s leading Africa’s efforts against the coronavirus

Stella set to retain her perks

Communication minister will keep Cabinet perks during her two months of special leave

Covid-19 grounds Nigeria’s medical tourists

The country’s elites, including the president, travelled abroad for treatment but now they must use the country’s neglected health system

Press Releases

Rahima Moosa Hospital nursing college introduces no-touch facial recognition access system

The new system allows the hospital to enrol people’s faces immediately, using artificial intelligence, and integrates easily with existing access control infrastructure, including card readers and biometrics

Everyone’s talking about it. Even Kentucky

Earlier this year South African fried chicken fast-food chain, Chicken Licken®, launched a campaign for their wallet-friendly EasyBucks® meals, based on the idea of ‘Everyone’s talking about it.’

New energy mix on the cards

REI4P already has and will continue to yield thousands of employment opportunities

The online value of executive education in a Covid-19 world

Executive education courses further develop the skills of leaders in the workplace

Sisa Ntshona urges everyone to stay home, and consider travelling later

Sisa Ntshona has urged everyone to limit their movements in line with government’s request

SAB Zenzele’s special AGM postponed until further notice

An arrangement has been announced for shareholders and retailers to receive a 77.5% cash payout

20th Edition of the National Teaching Awards

Teachers are seldom recognised but they are indispensable to the country's education system

Awards affirm the vital work that teachers do

Government is committed to empowering South Africa’s teachers with skills, knowledge and techniques for a changing world