South Africa

The world is entering an era of new economic challenges, even as the recent ones have yet to be overcome, says South African Reserve Bank (SARB) Governor Lesetja Kganyago.

“The global economy continues on a long recovery path from the pandemic. This path has been a troubled one, and despite better prospects in recent months, remains beset by risks and vulnerabilities built up during the pandemic. 
“Inflation remains stubbornly high, and public debt levels globally are at record levels,” the Governor said on Tuesday.

The Special Tribunal has reviewed and set aside two Independent Development Trust (IDT) contracts, worth some R1.6 billion, and has ordered the five companies, who received the contracts, to pay back all profits gained from the contracts.

South Africa’s position at the 21st African Growth and Opportunity Act (AGOA) Forum was to reset and create partnerships with an emphasis on industrialisation, building a capable state and job creation.

South African swimmer Tatjana Smith has bagged the nation’s first gold medal at the 2024 Paris Olympics, putting on a glittering performance in the women’s 100m breaststroke.

Rand Water will this evening wrap up the final phase of its month-long proactive maintenance, which commenced last month.

The Department of Minerals and Petroleum Resources has expressed confidence that a suitable investor will come on board and “be able to monetise” gas discoveries off the south coast of South Africa.

Transnet says it is making “considerable progress” in the implementation of reforms in accordance with the Freight Logistics Roadmap and the Guarantee Framework Conditions issued to Transnet by National Treasury.

With the President signing into law the Pension Funds Amendment Act (31 of 2024), National Treasury has urged fund members to seek trustworthy financial advice to consider the implications for withdrawals from the savings component.

The Department of Forestry, Fisheries and the Environment (DFFE) has asserted that it has not conducted any “secret meetings” with business on the review of the country’s climate change commitments.

Minister of Energy and Electricity Dr Kgosientsho Ramokgopa has moved to assure South Africans that the department is committed, together with the South African Local Government Association (SALGA) and municipalities, to finding an enduring solution to the rising cost of electricity in South Africa.