HotBiz

African economies debt outlook remains ‘cloudy’ — World Bank economist 0
- HotBiz
- May 31, 2023
The outlook for Africa’s debt sustainability remains “cloudy” as low growth and high inflation challenge the stability of many economies across the continent, the World Bank’s Africa chief economist said on Monday. Andrew Dabalen said a form of stagflation taking hold was one of the biggest concerns. Growth is expected to reach 3.1% in 2023,
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Reserve Bank warns loadshedding likely to negatively impact economic activity for at least next 12 months 0
- HotBiz
- May 31, 2023
The South African Reserve Bank forecasts GDP growth of merely 0.3% in 2023, with loadshedding expected to detract two percentage points from overall growth this year. This is assuming 280 days of loadshedding at varying stages, but predominantly at stage 4, the SARB said in its Financial Stability Review. In the first five months of
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Inroads being made to facilitate procurement of independent power by municipalities, says Presidency 0
- HotBiz
- May 31, 2023
“Driving the living progress on the unbundling of Eskom into separate entities for generation, transmission and distribution. Significant progress has been made towards the establishment of the National Transmission Company of SA [NTCSA] as an independent subsidiary of Eskom. “The NTCSA has applied to Nersa for transmission, electricity trading, and electricity import and export licences
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Savings can help stokvels beat power cut blues 0

May 31, 2023

But the cost of alternative energy solutions can be daunting, the risk of losing productivity makes them a more viable option, he says. Nkosi says this is why group savings initiatives like stokvels could be useful to help stokvel members beat power cut blues. “The cost of living in South Africa keeps rising, and with

Inside South Korea’s race to become one of the world’s biggest arms dealers 0

HotBiz

May 30, 2023

JOINT PRODUCTION Officials in Seoul told Reuters that they pitched Poland on producing South Korean weapons there to make it easier to deliver to European customers. “The Korean government is promoting military diplomacy and defence co-operation so that the relationship with the purchasing country can develop into various partnerships beyond just a seller-buyer relationship,” South

Foreign investors withdrew $36bn after selling businesses in Russia 0

HotBiz

May 30, 2023

Foreign investors who left Russia after selling their businesses there between March 2022 and March 2023 withdrew about $36bn (R708bn) from the country, the state RIA news agency reported on Monday, citing analysis of data from the Central Bank. Scores of the world’s biggest companies have left or scaled back their operations in Russia in