South Africa Economy
latest news & developments
Economic transformation in the country is unfolding at a snail’s pace
South Africa faces slow economic transformation, highlighted by a 32.7% unemployment rate and just 6.9% black ownership in its 60 largest listed companies. Speakers at the Top…
Paying more for less power
Citizens are paying far more for electricity despite using less of it, as rising tariffs, fixed monthly charges and municipal costs reshape household bills and intensify…
SA pitches itself as Africa’s gateway amid global market turbulence
As South Africa prepares to host the sixth SA Investment Conference, government leaders and economists say global instability, including tension in the Middle East, unexpectedly…
G7 failed to address core issue in escalating US-Israel-Iran war, experts say
With oil prices climbing to $120 a barrel and the Strait of Hormuz shut, analysts say the G7 missed a critical opportunity to push for peace in the escalating US-Israel-Iran…
A sector in freefall
As productions stall and jobs disappear, film workers say a broken incentive scheme threatens the future of one of South Africa’s most visible industries
Operation Vulindlela: Big on policy but low on results
Only 3% of reform work under phase two of the economic readjustment initiative has been completed, about 27% is delayed or off track, and 53% is under way
South Africa must unlock financial sector for growth, says African Development Bank
The AfDB says the country’s economy continues to underperform, weighed down by structural deficiencies that constrain the financial sector
Ramaphosa touts youth jobs drive as StatsSA data paints grim unemployment picture
The statistics agency’s youth report notes worsening joblessness, hunger and safety concerns among South Africa’s youth
Budget 3.0 tentatively accepted by some political parties
The EFF criticises it as ‘unimaginative’ and not benefiting poorer South Africans, while the DA calls it a step towards ending ‘unchecked government spending’
Entrepreneurship key to solving SA’s youth unemployment crisis
Business leaders call for more investment to help youths start businesses and to tackle joblessness
DA not ‘walking away’ after talks with ANC to rescue coalition
The parties remain divided over an increase in VAT, which the DA says South Africans cannot afford
ANC, DA confirm meeting to try and save coalition, but offer little detail
The stand-off between the two parties dates back to 19 February when DA leader John Steenhuisen made clear the party would not support a national budget that proposed a two…
Parties warn Godongwana against tax hikes ahead of budget speech
Last year, the finance minister hinted there would be tax increases in 2025
Economy 2025: A GNU hope, but ports, rail and water crisis likely to hinder growth
The country’s ports and rail systems are shambolic, but GNU and a pause in load-shedding have elicited some optimism
SA’s World Economic Forum team optimistic about economic growth
The pause in load-shedding and government’s collaboration with business signals a positive shift, the delegation says