Economic Impact

In S.A, EFF Criticizes Nersa’s Approval of Eskom’s Tariff Hikes

In South Africa, the EFF has criticized the National Energy Regulator of South Africa for approving Eskom's tariff hikes, calling the decision unjustifiable and harmful to households and businesses. Nersa approved a 12.74% increase for 2025/2026, with smaller increases for the following years. Meanwhile, AfriForum's Morné Mostert, aims to determine whether the decision complies with legal requirements, expressing concerns that Nersa may be permitting Eskom to recover unlawful expenses through […]

31 January, 2025

South Africa

BOSA Pushes Petition to Raise Matric Pass Mark to 50%.

Build One South Africa has launched a petition urging Basic Education minister Siviwe Gwarube to scrap the minimum matric pass mark from 30-percent and increase it to 50-percent. The petition argues that a 30-percent pass mark for subjects at matric level undermines the intellect of South Africa’s youth, and allows for the entrenchment of mediocrity and low expectations. BOSA’s acting spokesperson, Rogers Solomons, says a meagre 30-percent pass hurts […]

9 January, 2025

South Africa

South African Union Warns of Job Cuts’ Impact on Steel And Auto Industries

South African metalworkers union Numsa says ArcelorMittal South Africa’s planned job cuts in Newcastle, KwaZulu-Natal, and Vereeniging, Gauteng, could devastate the steel and auto industries and harm communities. The company intends to cut 35-percent of its workforce, citing structural challenges in its long steel business. Numsa spokesperson Phakamile Hlubi-Majola vows to fight the retrenchments, urging collaboration to protect manufacturing capacity and prevent economic fallout:

7 January, 2025

Business / Economics

FNB South Africa warns that today’s fuel price hike is a blow to holidaymakers

FNB South Africa warns that today’s fuel price hike, with 95-octane and 93-octane petrol increasing by 17-cents per litre and diesel by over 50-cents, is a blow to holidaymakers. The bank attributes the rise to a weaker rand, driven by global factors like the United States elections and higher international diesel prices. FNB senior economist Koketso Mano advises citizens to revise their fuel budgets:

4 December, 2024

Business / Economics

Fuel Prices to Stay Steady in December

Motorists can breathe a sigh of relief as the Ministry of Mines and Energy has confirmed that fuel prices for December will remain unchanged. Here is Anna Salkeus from the ministry with more details.

2 December, 2024

Business / Economics

“No one will win a trade war,” Says China

Neither the US nor China would win a trade war, the Chinese embassy in Washington said on Monday, after president-elect Donald Trump vowed additional tariffs on China as well as US neighbors Canada and Mexico. Trump said he would impose additional 10% tariffs on goods from China and 25% tariffs on all products from Mexico and Canada in posts to his Truth Social network on Monday. Laura Westbrook has more.

26 November, 2024

Business / Economics

Potential Global and Namibian Economic Impacts of a Trump 2.0 Presidency

Theo Klein, an economist from Oxford Economics Africa in South Africa, warns that a second Trump presidency may negatively affect global markets, leading to higher inflation, interest rates, a stronger US dollar, and suppressed oil prices. For Namibia, the potential impacts include a slower interest rate cutting cycle and rising inflation as discussed by Klein alongside factors that could affect Namibia's economy.

21 November, 2024

South Africa

Build One South Africa Warns Eskom’s 36% Tariff Hike Could Endanger Low-Income Households

Build One South Africa says Eskom’s proposed 36-percent electricity tariff increase could force low-income households to turn to unsafe energy alternatives, putting their health and safety at risk. The party has deployed representatives to energy regulator, Nersa’s public hearings nationwide to express their opposition to the increase. BOSA spokesperson, Roger Solomons, argues the tariff increase will exacerbate inequality and threaten the survival of small businesses:

20 November, 2024

World

US Fed chair won’t resign if Trump demands

US Federal Reserve Chairman Jerome Powell has said he will not resign if asked to by incoming President Donald Trump. He was speaking after the Fed dropped interest rates by another quarter of a percentage point. As Nick Harper reports from Washington.

8 November, 2024