Tag: SA economy

South Africa’s economy contracts by record 51% in Q2

South Africa's GDP decreased by a record 51.0 per cent in the second quarter, due to the impact of COVID-19 lock-down restrictions. The largest negative contributors to growth in GDP were the manufacturing, trade and transport industries which saw muted economic activity amid lockdown. Old Mutual Chief Economist, Johann Els joins CNBC Africa for more.

South Africa must stop relying on Chinese imports we can build it ourselves: Mboweni’s Utopia.

“This is like a war and everyone needs to go to the front to deal with this,” says Mboweni.

The state of corporate corruption in South Africa

The Zondo Commission into state capture and the commission of inquiry into the Public Investment Corporation has become a familiar serial for many South Africans as corporate corruption takes centre stage. The South African Business Ethics Survey for 2019 has sited that the ethics of organisations should filter from the top down but in South Africa there is a major loss of ethical behaviour amongst various levels of management. Joining CNBC Africa for more is Paul Vorster, Senior Research Specialist at the Ethics Institute.

SA economy: Why it’s not all doom and gloom

South Africa has suffered more than a few knocks in the face of its economic stability. In spite of this Deal Leaders Africa says its business in mergers and acquisitions is painting a completely different picture. Joining CNBC Africa for more is Andrew Bahlmann, MD at Deal Leaders Africa.

SA’s economic nose dive lays bare deep divisions in ANC

South Africa managed to sink to its lowest GDP performance in a decade just as the newly elected members of government took to their seats in cabinet. Whether this was a coincidence or not it lead the ANC to take a more aggressive stance towards the SARB. Daniel Silke, Author and Political Analyst joins CNBC Africa for more.

S.Africa's rand resumes rally as yield-hungry investors shift into EMs

Rand at 13.6000 to the dollar by 0650 GMT, 0.2 percent from Thursday's close at 13.6225.

FirstRand bank warns South Africa faces downgrade this year

Johan Burger said on Thursday after reporting the bank's annual results that a downgrade would negatively impact lending and lead to banks tightening credit extension. The central bank has forecast growth at zero percent this year.

South Africa's rand rallies ahead of expected GDP boost

Rand 0.6 percent firmer at 14.2950 per dollar at 0650 GMT versus overnight close of 14.3800.