Tag: SA economy
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.
“This is like a war and everyone needs to go to the front to deal with this,” says Mboweni.
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.
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.
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.
Rand at 13.6000 to the dollar by 0650 GMT, 0.2 percent from Thursday's close at 13.6225.
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.
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