Browse every article
10,673 articles
Ramaphosa's Big Job Creation Lie
President Cyril Ramaphosa's assertion that 1.5 million jobs have been generated since 2021 is false, since South Africans currently have less jobs than they did two years ago. Ramaphosa stated in his 2023 State of the Nation Address (SONA), “between the third quarters of 2021 and 2022, around one and a half million new jobs
House price growth is slowing as consumer debt levels rise
According to the most recent FNB Residential Property Barometer, house price growth is decreasing. In January of this year, annual growth was 2.7%, compared to 2.9% in December of 2022. According to the index assessment, the significantly "softer" demand is the result of rising living costs and declining affordability. The high interest rate hike cycle,
The CEO of YouTube has resigned
Susan Wojcicki, CEO of YouTube, is stepping down after nine years leading Google's video division, signalling the end of an era for one of the Internet's foundational businesses. In a blog post, Wojcicki stated that she intended to "start a new chapter" focusing on her family, health, and personal initiatives. She will also serve as
South Africa 'temporary' assistance grant costs the nation R2.7 billion every month
According to the Department of Social Development, almost 8 million grant applications for the social relief distress grant (SRD) were authorised in January alone. “As of the end of January, the South African Social Security Agency (Sassa) received over 13.5 million applications for the SRD. Of this number, between 7.4 million and 7.8 million clients
South Africa now has new passport and Smart ID service centres
South Africans will soon be able to receive their passports and Smart IDs at certain malls in South Africa, according to Home Affairs Minister Aaron Motsoaledi, as his administration seeks to expand services to additional outlets. During his answer to the State of the Nation Address this week, the minister stated that systems and equipment
A peek at Gauteng's new 'mega-reservoir,' one of the world's largest
Rand Water has announced the opening of a new 'mega reservoir' in the Gauteng city of Ekurhuleni. According to the utility, the freshly constructed 210 megalitre Vlakfontein Reservoir is South Africa's largest cylindrical and circular reservoir, and one of the largest in the world. The reservoir, at 210 megalitres, can contain enough water to fill
Western Cape's Plans to avoid load shedding, include 'power packs' for certain homes
With significant investment plans on the horizon, the Western Cape is continuing its journey away from the national grid and towards energy independence. Western Cape Premier Alan Winde remarked in his State of the Province Address (SOPA 2023) on Thursday (16 February) that the province is South Africa's last chance for a better future, particularly
South Africa will not give up coal
According to President Cyril Ramaphosa, abandoning coal as a fuel source is a myth that must be debunked. South Africa is caught in a catch-22 situation in which it needs to reduce its reliance on coal to comply with its Just Transition framework yet is still largely dependant on coal due to the current energy
Rand suffers as local troubles worsen
The rand is losing ground in markets this week as a mix of domestic and global factors weighs on the currency. On Friday morning (17 February), the local unit was trading at R18.22 to the dollar, having breached and settled above the R18 to the dollar threshold earlier in the week. The rand had been
Dis-Chem's load-shedding expense rises to R36 million
Dis-chem, a retail pharmacy group, demonstrated a strong commercial performance despite tough economic headwinds, with group sales growing by 8.7% for the six months ending 5 February 2023. Dis-Chem reported a 7.5% increase in retail sales during the period, excluding vaccines and Covid-19-related lines, in a trading update on Friday (17 February), while external wholesale
Whether you like it or not, Ramaphosa's new "electricity minister" is on the way
President Cyril Ramaphosa says he would proceed with his plans to establish a new'minister of energy' in South Africa despite considerable protest. In response to the discussion over his current State of the Nation Address (SONA), President Obama stated that the new minister will be in charge of monitoring all areas of the electrical crisis
Public Sector Union prepare for strike action
South African civil employees' labour unions intend to inform the government of their intention to strike next week, escalating tensions in a dispute over salary hikes. Last year, pay negotiations came to a halt when the government rejected union proposals for 10% rises and unilaterally approved a 3% increase. While Finance Minister Enoch Godongwana is
legal challenges against state of disaster are increasing
Outa has joined other civil action organisations in filing a judicial challenge against President Cyril Ramaphosa's proclamation of a state of disaster due to the ongoing energy crisis. Outa petitioned the Pretoria High Court on Thursday (16 February) to have the proclamation annulled. Ramaphosa said a week ago (9 February) during his State of the
Eskom has issued a warning about 'disaster level' theft
According to Eskom, theft and damage of energy infrastructure have reached terrible proportions in Gauteng, jeopardising crucial services and lives in the region. “Eskom has reported concerning levels of damage to its network, such as transformers and substations, leading to prolonged outages to customers, including essential services,” it said. The electrical supply to Rand Water
The most serious threat to the 2023 budget
According to experts at Nedbank, South Africa's public sector wage bill remains the greatest danger to maintaining a balanced budget. On Thursday (16 February), public sector unions stated that they were preparing for a large, indefinite strike over salaries, extending the conflict that raged for months in the latter half of 2022 when the National Treasury
The one major omission from Ramaphosa's SONA finally mentioned
Anybody watching Cyril Ramphosa's 2023 State of the Nation Address would have noted a significant absence in the president's list of calamities affecting the country. There was no mention of the state's second main plan: the National Health Insurance (NHI) programme, despite an ongoing power crisis that forced the proclamation of a state of calamity,
Mercedes Benz South Africa to launch electric eSprinter panel van in 2024
German automaker Mercedes Benz South Africa has made an announcement that it will launch a full electric Sprinter next year. Mercedes Benz South Africa’s president Nadia Trimmel said they will introduce the battery electric Sprinter panel van (eSprinter) to the local market in 2024. “As we embark on a new era of sustainable mobility, we
South African motorists warned against massive petrol price in February
South African motorists must brace themselves for a massive petrol price hike this month as per the information released by Central Energy. While the month of February has two weeks to see the prices fixed, the fund data shows that 95 unleaded petrol could be increased by more than R1.20 per litre this month. Looking
Capitec Bank reveals updated banking fees set to come into effect in March 2023
Registered as South Africa’s biggest banking institution by retail customers, Capitec Bank has released new banking fees. The Western Cape-based, Stellenbosch, bank has updated its new fees that will kick in next month as media reports suggest. Capitec clients will see a sharp increase in the cost to get money into and out of their
Comair demands R1.4 billion from US aircraft maker Boeing for fraud
Aeroplane maker Boeing is facing a legal battle with a South African airline that is demanding at least $1,4 billion. The airline argues that Boeing lied about an agreement regarding the sale of eight 737 MAX planes and it seeks damages to the tune of $83 million. According to a suit filed on Monday in