Phumza Macanda

State says Moody’s worries on politics overdone

South Africa has played down suggestions from Moody's that political pressure could lead to a further deterioration in public finances.

Reserve Bank dovish, factory rise seen as blip

The Reserve Bank's note about the economy has hinted at a chance of a rate cut, despite a stronger-than-expected performance in the factory sector.

Rand tumbles, tipped to hit R8/dollar

The rand tumbled nearly 3% to hit 16-month lows against the dollar as importers piled into the greenback, spooked by a recent trend of sharp declines.

Expenditure growth slows in second quarter

The pace of spending in the economy slowed sharply in the second quarter -- partly as household consumption eased -- but investment has picked up.

SA current-account deficit at seven-year low

South Africa's current account gap narrowed to a seven-year-low in the fourth quarter of 2010, while expenditure slowed, the Reserbe Bank said.

Nationalisation not govt policy, Gordhan reiterates

Nationalisation of South Africa's mines and other economic assets is not government policy, Finance Minister Pravin Gordhan said on Monday.

Gordhan says 7% GDP crucial for jobs

South Africa needs to double the rate of its economic growth in order to create jobs, Finance Minister Pravin Gordhan said on Thursday.

May retail sales climb, jury out on rates

South African retail sales rose more than expected in May, growing for the fifth month in a row ahead of the soccer World Cup.

Gordhan, AG to probe ‘wasteful’ ticket spending by govt

Finance minister and auditor general are to investigate World Cup ticket purchases by government agencies amid concerns over "wasteful expenditure".

SA’s current-account gap widens in first quarter

The deficit on South Africa's current account widened more than expected in the first quarter.

SA credit demand falls, corporates weigh

Demand for credit from South Africa's private sector fell more than expected in April, reflecting companies' reluctance to borrow further.

SA retail sales down

South African retail sales fell more sharply than expected in November, highlighting the weakness of consumer demand.

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