Construction sector faces cash crunch as lockdown is extended . The Master Builders Association (MBA) North warns that the current Covid-19 lockdown and its aftermath are set “to raise all sorts of issues” for an industry that is already in trouble.

“The fact tha...

Reserve Bank again cuts repo rate by 1 percentage point . The South African Reserve Bank has cut the repo rate by 100 basis points, or one percentage point. This brings South Africa's repo rate to 4.25%.

Tuesday's announcement was the second major cut in le...

Business warns of 8% to 10% GDP slump and at least a million job losses as Covid-19 ravages SA economy . Initial modelling conducted by South African business of the potential macroeconomic impacts of the country’s response to the global Covid-19 pandemic indicates that the country’s gross domestic produc...

Mboweni confirms Covid-19-specific IMF funding option being considered . Finance Minister Tito Mboweni confirmed on April 14 that the National Treasury was exploring all funding avenues to finance programmes aimed at tackling the Covid-19 pandemic, including funding availab...

Ford South Africa starts face shield production . Ford Motor Company of Southern Africa (FMCSA) has started production of 57 000 protective face shields that will be donated to front-line medical and essential services personnel who are most at risk o...

WTO warns of plummeting global trade . World trade is likely to fall by between 13% and 32% this year as the Covid-19 pandemic disrupts economic activity and life around the world, the World Trade Organisation (WTO) reports.

The global bo...

World Bank warns of big South Africa GDP slump and first SSA recession in 25 years as Covid-19 bites . The World Bank is forecasting that gross domestic product (GDP) in South Africa could slump by between 6.9 percentage points and 8 percentage points in 2020 when compared with a base case that does not...

High risk that more than 25m people may lose their job, says ILO . The Covid-19 crisis is expected to wipe out 6.7% of working hours globally in the second quarter of 2020 – equivalent to 195-million full-time workers, says United Nations Agency, the International Lab...

Eskom’s Bernard Magoro appointed as new head if IPP Office . The Development Bank of Southern Africa (DBSA) announced on Wednesday April 8 that former Eskom executive Tshifhiwa Bernard Magoro had been appointed as the new head of the Independent Power Producers ...

Eskom extends bidding deadline for short-term power purchase scheme . Electricity utility Eskom has extended the deadline, to May 11, for responses to a request for proposals (RFP) to participate in its Short-Term Power Purchase Programme (STPPP), owing to the imposition...