Ed Stoddard 
What difference a few months makes. In October last year, the International Monetary Fund cut its forecast for global economic growth to 2.7% from 2.9% and warned of an imminent recession. After a few weeks, he said things were looking “much darker”. Read more at The Daily Maverick: IMF’s global growth outlook worsens from ‘bleak’ … Read more
Canned beans are apparently flying off the shelf while takeaways and deliveries ordered online are also doing brisk business. This is according to PwC’s latest Pulse 6 global consumer survey: Key trends and insights affecting the South African consumer. “Unloading has affected consumer behaviors in several ways, with more than 50% of consumers choosing non-perishable … Read more
The mafia that has blighted the construction industry in South Africa started its tremors 15 years ago on the construction sites of the Medupi and Kusile power stations. This was the preparatory measure for major bids that took center stage after 2017 regulations required 30% local participation in public works construction projects. These are among … Read more
It’s been a tough year for PGM producers, and Amplats’ interim financial results, disclosed Monday, reflect that. “Ebitda fell 69% year-on-year at R13.4 billion, mainly due to the impact of significantly lower prices, lower sales volumes and higher costs,” the company said in a statement. Underlying earnings fell more than 70% to R7.9 billion. Of … Read more
The decision means that the RBA’s main repurchase rate remained unchanged at 8.25% and the main lending rate at 11.75%. After raising interest rates by 475 basis points since November 2021, indebted South African consumers and businesses will breathe a sigh of relief. But Kaganyago has quashed any notion that the tightening cycle is over, … Read more
Northam said it was time to sell its stake in RBPlat, a coveted asset with shallow, high-grade ore bodies, with an eye on its balance sheet as platinum group metal (PGM) prices sink under the weight of a still-fragile global economy. “Prevailing conditions in the PGM market and the material decline in the price of … Read more
The CPI data, revealed on Wednesday by Statistics South Africa (Stats SA), is a sign that the aggressive tightening cycle of the Reserve Bank of South Africa (Sarb) is paying off. It has been relentless in its quest to contain inflation, which has raised interest rates by 475 basis points since November 2021, raising the … Read more
ArcelorMittal is the largest steel manufacturer in sub-Saharan Africa, operating in an energy-intensive industry. So, when the lights go out, it lights South Africa’s path to deindustrialization. On Tuesday, the company released a trading chart of its financial performance in the first six months of 2023, which emphasized the impact of the energy crisis on … Read more
Transnet’s problems have been a huge hole in South Africa’s road to economic recovery, costing the mining industry tens of billions of rand a year in lost exports. union sources said Daily Maverick Coal producers have indicated they may need to cut jobs if problems persist. In a presentation to the Coal and Power Transition … Read more
The Monetary Policy Committee (MPC) begins its deliberations on Tuesday and opened up space on a range of fronts to pause in a tightening cycle that has seen interest rates hiked by 475 basis points since November 2021, taking the key repo rate to 8.25% and the key lending rate to 11.75%. South Africa’s consumer … Read more