South African Land Reform Panel Recommends Seizures Without Pay in CERTAIN Circumstances

By Jenni Baxter 28-07-19 22:24

JOHANNESBURG – The Presidential Advisory Panel on Land Reform and Agriculture has proposed amending the South African Constitution to allow the government to seize land without compensation… but only in limited circumstances. The recommendations in the final report were released Sunday by Agriculture, Land Reform and Rural Development Minister Thoko Didiza, and members of the […]

Moody’s says New Eskom Support Credit Negative for South Africa

By Reuters 25-07-19 19:31

Rating agency Moody’s said the South African government’s proposal to provide additional financial support to struggling state-run power firm Eskom was “credit negative” for the sovereign as it was a further drain on fiscal resources. Eskom, which supplies more than 90% of South Africa‘s power but had to implement power cuts earlier this year, is grappling with high debt […]

16 Black Rhino Leave South Africa for ‘Safer’ Home in eSwatini

By Jenni Baxter 25-07-19 18:14

South Africa has lost yet another 16 endangered black rhino… but this time they fortunately weren’t poached. They were dehorned, and moved for their own protection across SA’s borders to eSwatini (formerly Swaziland) – to a habitat that is “ideal” – and safer, according to the eSwatini national wildlife authority. As South Africa has tragically […]

IMF Predicts Even Slower Growth in South Africa Through 2020

By Ted Botha 23-07-19 22:03

The International Monetary Fund’s latest report on the World Economic Outlook has predicted that South Africa will continue to have a slower growth that much of sub-Saharan Africa, even slower than previously anticipated. In its report, “Still Sluggish Global Growth,” which was released today, the IMF predicted growth in South Africa of 0.7 percent in […]

South Africa Allocates Extra R59 Billion for Eskom

By Jenni Baxter 22-07-19 12:46

The South African government is making an extra R59 billion ($4.24 billion) available to Eskom for the power utility to use over the next two years, according to a special appropriation bill seen by Reuters on Monday. The allocation of the funds to the state-owned company is to ensure that Eskom can pay its debts […]

Repo rate rises to 4%

South Africa Cuts Rates as Economy Weak, Inflation Steady

By Reuters 18-07-19 16:53

PRETORIA – The South African central bank cut its main lending rate by 25 basis points to 6.50%, as expected, citing weak economic growth and inflation which has stayed around the midpoint of its target range. The last time the South African Reserve Bank (SARB) cut its repo rate was in March 2018. The SARB […]

Ford will Add 1,200 New Jobs in South Africa

By Jenni Baxter 17-07-19 15:54

JOHANNESBURG – There’s good news for unemployment in South Africa, as the SA unit of Ford Motor Co has announced on Wednesday that it will hire an additional 1,200 people to staff an extra shift at one of its vehicle assembly plants. According to a statement from Ford, this will increase production to 720 units […]

SA ‘EXPAT TAX’ Explained: More Answers for South Africans Working Abroad from the Experts – July 2019

By Tax Consulting SA 15-01-20 10:55

Thanks to popular demand, here are even more ‘Expat Tax’ questions submitted by SAPeople members, with answers kindly provided by the expert tax team at Tax Consulting South Africa. Dear SAPeople Members, The positive responsive from the community has been phenomenal. We encourage you to continue submitting your questions and look forward to those unique […]

eskom south africa electricity

Eskom’s Group Treasurer Resigns in Latest High-Profile Departure

By Jenni Baxter 15-07-19 14:53

Eskom’s Group Treasurer Andre Pillay has tendered his resignation in the latest high-profile exit from South Africa’s power utility, since its chief executive quit earlier this year. No reason was given for his resignation. As requested by Eskom, Pillay will stay a couple of months until the end of August 2019 “to ensure a seamless […]

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