Morwick

Business News Anchor #newspersonlity# #SowetoTvNews

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South Africa's retail sales continued their growth trend in July, marking a fifth consecutive monthly increase. However, the pace of growth slowed compared to June.

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Inflation in South Africa decreased more than anticipated last month, reaching its lowest level since April 2021.

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The FNB/BER building confidence index has risen 5 points to 40, marking a positive shift for South Africa post the 2024 general elections.

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As South Africa commemorates three decades of democracy, the South African Actuarial Development Programme celebrates 20 years of significant contributions to the actuarial profession in 2024.

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The South African Reserve Bank's Quarterly Bulletin has revealed that the country’s primary budget deficit rose from R1.7 billion in Q2 of 2023 to R8.4 billion in Q2 of 2024, driven by higher non-interest spending compared to revenue.

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South African motorists can expect another slight relief at the pumps as the Automobile Association predicts a drop in fuel prices in October, marking the fifth consecutive decrease in 2024.

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The Eskom Expo International Science Fair 2024 concluded on Friday, featuring hundreds of talented young scientists from 35 regions in South Africa and beyond.

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Capitec Bank announced a 36% increase in its interim profit, surpassing expectations due to reduced loan losses.

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In September, South Africa's new vehicle sales fell by 4.1% to 44,081 units year-on-year, with passenger car sales slightly rising by 2% to 30,218 units.

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South Africa's private sector experienced growth in September, fuelled by increased business activity and a notable decline in inflation. This is according to an S&P Global survey released last week.

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The South African Reserve Bank is actively seeking to enhance its payment systems as announced by Governor Lesetja Kganyago.

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Following the recent reduction of interest rates by 25 basis points, economists predict an additional 125 basis points cuts by March 2026, driven by optimistic sentiment in South Africa and the US.

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Rising international sugar prices have raised concerns about local costs in South Africa but experts believe the country is likely to remain stable.

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There has been a significant 17.5% drop in the number of civil summonses issued for debt in the three months leading up to July 2024, compared to the same period in 2023.

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According to the latest Deloitte Stability Index, South African companies are facing significant distress due to rising expenses.

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Sasol's stock fell over 5% to R107.18 as the company faced challenges from a stronger rand, fluctuating oil prices and reduced refining margins in its latest quarterly report.

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According to a study by PowerOptimal, South African households are grappling with soaring utility costs, now averaging R2,038 monthly after inflation.

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In August, South Africa experienced a 4.9% decline in vehicle sales, compared to the same period last year, with 43,588 new cars and commercial vehicles sold.

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A recent survey shows that business confidence in South Africa increased in the third quarter of 2024 following the formation of government of national unity and stable electricity supply.