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Rene Vollgraaff

Presidency: Minister Zwane’s Gupta bank probe comments ‘unfortunate, regretted’

Mosebenzi Zwane’s statement was “issued in his personal capacity and not on behalf of the task team or Cabinet”.

IMF slashes SA growth forecast

The South African GDP will only grow by 0.6% this year, the International Monetary Fund predicts.

Gordhan taxes wealthy, cuts jobs to curb 2016 budget

The finance minister targeted civil-servant jobs and increased wealth taxes in an effort to prevent a credit-rating downgrade.

Reserve Bank raises interest rate to 6.75%

South Africa's repo rate has been raised by 50 basis points in an effort to counter the rand's slump.

Nene may abandon deficit targets as downgrade threat looms

With the nation's credit rating in terrible shape, SA's finance minister may be forced to downgrade growth and tax forecasts in his mid-term budget.

Low dollar-debt shields SA from weak rand, Nene says

Finance Minister Nhlanhla Nene insists that the rand's fall is in line with emerging markets and only "temporary".

Rand dive gives power-starved economy no respite

The very industries that should benefit from the rand’s slump are the ones being hobbled.

Rand’s fall fails to flummox Lesetja

The currency's 10% drop against the dollar this year is unlikely to cause inflation to spike.

Reserve Bank hikes repo rate to 6%

South Africa has raised its benchmark rate as inflation threatens to exceed the central bank's target.

Crunch time for interest rate hike

South African policy makers may decide that the time for talking is over, as they meet to decide on the first increase in borrowing costs in a year.

Moody’s downgrades SA and Fitch could follow suit

Moody's is the second ratings agency in 2014 to downgrade South Africa and Fitch, analysts warn, could very well do the same next month.

Manufacturing sees biggest decline in almost 5 years

The four-week strike led by trade union Numsa in July disrupted the manufacturing sector causing production and output to shrink.

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