The overall Johannesburg Stock Exchange index plummeted just over 6% in early trade and the rand also weakened by nearly 50 cents against the US dollar, this amid the worsening effect of the coronavirus on the global markets. South Africa is currently in a technical recession with growth forecasts revised to under 0.5%. Economists say the Reserve Bank will have to implement aggressive rate cuts to support the struggling economy.
Transnet SOC Ltd (“Transnet”) has taken decisive action in its ongoing efforts to eliminate corruption and misconduct within the organisation. This follows the suspension of nine employees implicated in alleged collusion with suppliers....
Government has welcomed Fitch’s decision to affirm South Africa’s long-term foreign and local currency debt ratings at “BB-” and maintain the stable outlook. According to Fitch, South Africa’s credit rating is constrained by several factors,...
South Africa’s built environment sector is facing significant challenges, including an ageing workforce, a growing skills gap, and the need for expertise to address deteriorating infrastructure across sectors such as water, energy, and transport....