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Economists predict further repo rate cuts
The Reserve Bank announced on Thursday that it had cut the repo rate by 50 basis points to 3.75% in order to promote growth.
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AfriForum, Solidarity file appeal papers over COVID-19 tourism relief funds
AfriForum’s CEO Kallie Kriel on Thursday said their application for leave to appeal was the beginning of a legal process that AfriForum was prepared to ultimately take to the Constitutional Court and even challenge it internationally.
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Kganyago expects economy to bounce back in 2021
South African Reserve Bank Governor Lesetja Kganyago said that inflation was stable and growth needed to be boosted.
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Nxesi: R13bn paid out to 2 million workers through UIF since 16 April
The Unemployment Insurance Fund (UIF) is disbursing the relief after businesses were forced to shut their doors during the national lockdown.
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Acsa seeks govt guarantees for R11bn in new debt
Since late March when the country went on lockdown, major domestic airports such as the continent’s busiest OR Tambo in Johannesburg have closed, knocking revenue at Acsa.
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Winde: E-commerce will reduce risk of COVID-19 infection
On Thursday, Trade and Industry Minister Ebrahim Patel gazetted new regulations clearing e-commerce for trade.
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Black Business Council backs govt’s plans to move lockdown to level 3
Businesses and other societal activities were forced to shut down seven weeks ago when the government enforced a nationwide lockdown to prevent the spread of COVID-19.
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Cosatu: Move to level 3 lockdown must prioritise lives & livelihoods
Cosatu is one of the entities that President Cyril Ramaphosa will be consulting about the new measures.
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Extended lockdown could see municipalities lose R14bn in revenue, warns Salga
Salga is warning that municipal revenue from rates could fall by 5% – an amount of about R14 billion – due to the lockdown.
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Steenhuisen: Govt keeping real COVID-19 numbers a secret
Democratic Alliance (DA) interim leader John Steenhuisen said that President Cyril Ramaphosa and his administration were not trusting South Africans with the truth.
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COVID-19 loan guarantee scheme for small businesses now officially open
National Treasury on Tuesday said the COVID-19 loan guarantee scheme announced by President Cyril Ramaphosa in April was now in operation.
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COVID-19 forcing S.Africans to reevaluate their relationship with money
Scores of South Africans have been left with holes in their pockets due to the national lockdown and the situation is not about to improve anytime soon as the country's economic situation takes a hit.
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CCMA concerned by increase in retrenchments amid COVID-19 lockdown
The CCMA has received 17 retrenchment referrals affecting over 3,000 employees.
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Rand dips as risk sentiment dampened by China troubles
Dour data from China, where most official coronavirus lockdowns ended more than two months ago, showed service sector activity still mired in contraction in April, while consumption figures revealed a sharp decline in imports.
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Gordhan to meet with SAA’s BRPs within 48 hours amid increasing tensions
Briefing Parliament’s committees on public enterprises on Wednesday night, the minister made it clear that the government was at odds with the BRPs’ approach.
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Parties react to BBBEE requirement for COVID-19 relief for small businesses
Finance Minister Tito Mboweni on Tuesday told parliament’s finance committees he could not support a policy position that discriminated against white business owners.
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Mboweni: SA’s structural economic reforms not similar to IMF loan conditions
The minister was speaking during a meeting of Parliament’s finance committees on Tuesday when he defended the decision to consider the IMF’s $4.2 billion loan facility for COVID-19 specific purposes.
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Mboweni: Economy must be re-opened urgently, but people's lives come first
The National Treasury and the South African Revenue Service briefed Parliament’s finance committees on their annual strategic plans and budgets.
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Mthethwa ‘concerned’ about unsuccessful applications for relief funds
The minister on Monday briefed the media about his department’s COVID-19 R150 million sector relief fund.
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Rand recovers in global emerging market bounce
At 0715 GMT the rand was 1.07% firmer at 18.3720 per dollar versus an overnight close of 18.5710.
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The masks market: South Africans spot the gap and are coining it
The lockdown, now on level 4, has resulted in the shutdown of many businesses and disrupted livelihoods.
