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  • October retail sales accelerate to 2.2%

    12 December 2018 11:35 AM 17

    Retail sales picked up in October, reflecting year-on-year growth of 2.2%, according to data from Statistics South Africa (Stats SA). Analysts had expected the uptick, with NKC Economics anticipating sales would come in at 2.5%. The figures were still higher than the annual 0.6% growth recorded in September. The main contributors to growth came from "other

  • November inflation ticks slightly higher to 5.2%

    12 December 2018 8:21 AM 19

    November inflation ticked up to 5.2%, according to data released by Statistics South Africa (Stats SA) on Wednesday. Analysts from NKC Economics had forecasted inflation to come in at 5.2%. RMB Global Markets Research head Nema Ramkhelawan-Bhana expected inflation figures to be unchanged at 5.1%, due to "relatively stable" fuel prices. The main contributors

  • SA to feel the blow in 'no-deal' Brexit, economist warns

    12 December 2018 6:25 AM 21

    North West University economist Raymond Parsons has warned that South Africa could be among the hardest hit by the UK’s path out of the European Union (EU). Parsons is a referential economic commentator, having analysed and studied most of democratic South Africa’s economic trajectory. He authored books including The Mbeki Inheritance in 1999, and Zumanomics

  • Africa's largest fibre company gets $180m cash boost

    11 December 2018 8:49 PM 19

    Liquid Telecom received a $180m (R2.5bn) cash injection from UK development finance institution CDC Group, as Africa’s largest fibre-network operator expands broadband infrastructure across the continent. The investment will give London-based CDC a stake of almost 10% in Liquid, which is majority owned by Mauritius-based Econet Global. The funding will enable

  • May said to delay vote on Brexit deal to avoid huge defeat

    10 December 2018 1:54 PM 20

    UK Prime Minister Theresa May is calling off a crucial vote in Parliament on whether to approve her Brexit deal, according to a person familiar with the situation. The vote in the House of Commons to endorse the terms of the UK’s split from the European Union was due to be held on Tuesday evening but is now set to be rescheduled, according to the person

  • Markets LIVE: Rand trudges through early morning trade

    10 December 2018 6:00 AM 23

    The sell-off in emerging markets is continuing to add pressure to the local currency, pushing it to R14.10/$ during international trading sessions, Bianca Botes of Peregrine Treasury Solutions noted in a market update. "The local unit has been prone to volatility caused by global geopolitical elements and specifically the trade war. "While non-farm payrolls

  • Durban is tops over the festive season

    09 December 2018 1:52 PM 26

    South Africans will be favouring local travel this festive season, spending an average of R1 663 on travel each and heading to Durban as their destination of choice, according to a recent survey. The survey, conducted by short-term lender Wonga, was conducted among 7 000 South Africans aged between 18 and 65. It found that over the coming festive season

  • Sunday load shedding averted

    09 December 2018 6:47 AM 21

    The electricity grid has been stabilised again, Eskom spokesperson Khulu Phasiwe has said, which means load shedding is no longer required for Sunday. This follows a late-night statement on Saturday in which Eskom said there was a high probability of stage 2 load shedding on Sunday. In a tweet on Sunday morning, Phasiwe said some generating units had been brought

  • Black Friday sales disappoint, but retailers can still score with holiday shopping

    08 December 2018 11:00 AM 49

    Consumers can expect more discounting by retailers leading up to the festive season, with the Saturday before Christmas and Christmas Day itself being big sales days for retailers. This is according to Higor Torchia, country manager for the Europe, Middle East and Africa region of retail software management company Vend, explaining some of the sales

  • UPDATE: Eskom says 13-hour load shedding risk remains high for Saturday

    07 December 2018 7:34 PM 23

    Eskom terminated load shedding at 21:00 on Friday night, but the probability of stage 1 load shedding on Saturday remains high, the power utility announced. "The probability of Stage 1 rotational load shedding remains high from 09:00 until 22:00 tomorrow (Saturday)," it said in a statement on Friday. Stage 1 load shedding allows for 1 000 megawatts to be shed from the national