Cost of living

South African Local Government Association Proposes Zero-VAT on Water and Electricity

South Africa's Local Government Association has proposed the zero-VAT-rating of essential items like water and electricity. SALGA's Sabelo Gwala says taxing luxury goods will increase government revenue, suggesting a staggered VAT approach. This comes ahead of Finance minister Enoch Godongwana’s revised budget next Wednesday following disagreements over a potential VAT increase. Gwala warns that a blanket VAT hike would have severe consequences:

5 March, 2025 57

Namibia

Fuel prices go up as government adjusts dealer margins

Image contributed (Xinhua/Chen Cheng) Motorists will face higher fuel costs from Wednesday, as the Ministry of Mines and Energy has announced a 50-cent per litre price increase. At the same time, fuel retailers will see their margins rise by 30 cents per litre, while the Road Fund Administration levy will increase by 20 cents per litre. The ministry says the adjustments are due to the introduction of a new minimum […]

4 March, 2025 66

South Africa

In S.A, ANC calls for a constructive, informed, and sober debate on the budget

In S.A, the ANC Veterans' League is calling for a constructive, informed, and sober debate on the budget. ANC Veterans' League president, Snuki Zikalala, says the government should avoid drastic expenditure slashing and must also be mindful of the sentiment of citizens, who struggle with high unemployment and the ongoing high cost of living. Meanwhile, the DA says it refuses to be held hostage or intimidated by the ANC’s blatant […]

3 March, 2025 57

Business / Economics

Inflation Drops to 3.2% Despite Monthly Increase

The local annual inflation rate eased to 3.2% in January, continuing its downward trend due to lower costs in key sectors. However, the month-on-month inflation rate saw an uptick, rising to 1.1% from 0.2% in December. Capricorn Asset Management’s Floris Bergh weighs in:

18 February, 2025 58

Business / Economics

Inflation Falls, But Monthly Rate Rises

Inflation eased locally to 3.2% in January, reflecting a steady decline from previous months due to lower costs in key sectors. Despite the annual slowdown, the month-on-month rate climbed to 1.1% from 0.2% in December. Transport, housing, and food remain the biggest inflation drivers. Simonis Storm economist Almandro Jansen:

13 February, 2025 48

Africa

Ghana’s Economic Crisis Dominates Election Campaign

Public frustration over Ghana's economic struggles, including soaring prices and high unemployment, has overshadowed the lead-up to Saturday's general election. CNBCAfrica reports that support for outgoing President Nana Akufo-Addo and his New Patriotic Party has waned, as the country faces its worst economic crisis in decades. Protests over the cost of living and turmoil in key industries, such as cocoa and gold, have further fueled discontent.

5 December, 2024 8

Africa

Nigeria’s Food Crisis Expected to Worsen Amid Economic Hardship

Nigeria is projected to see a severe hunger crisis next year, with over 30 million people facing food insecurity—a 33% increase from this year—due to economic challenges, according to a government and UN report as seen by CNBCAfrica. Economic hardship has intensified following austerity reforms by President Bola Tinubu, including currency devaluation and the removal of a longstanding petrol subsidy, contributing to rising inflation and a cost-of-living crisis.

4 November, 2024 14

Business / Economics

SA’s inflation drops to 3.8-percent

South Africa's inflation rate fell to 3.8 percent last month, down from 4.4 percent in August, marking the lowest rate since early 2021 mainly due to lower transport costs as fuel prices dropped by nine percent from last year. Statistics South Africa’s Patrick Kelly.

23 October, 2024 48

Africa

Nigeria police fire tear gas on hardship protests

By Laurie Churchman Nigerian police fired tear gas on Thursday to break up several hundred protesters in the northern city of Kano and in the capital Abuja where demonstrators had joined in nationwide rallies against the high cost of living. Africa's most populous country is struggling with soaring inflation and a sharply devalued naira after President Bola Ahmed Tinubu ended a costly fuel subsidy and liberalised the […]

1 August, 2024 66