Dawie Roodt, chief economist at the Efficient Group, believes that there is little reason to be optimistic now that South Africa is no longer in a technical recession. Statistics South Africa revealed on Tuesday (4 November) that the country’s economy expanded by 2.2% in the third quarter – effectively ending the country’s negative growth trajectory.… Continued
Consumers warned to spend wisely in wake of fuel price drop Stats SA on Tuesday announced a 2.2% increase in the third quarter Gross Domestic Product. JOHANNESBURG- As South Africans welcome the news of a growing economy and a lower petrol price, consumers are being warned against using money they don’t have. Stats SA on Tuesday… Continued
Ordinary South Africans are battling The decision by the South African Reserve Bank to increase the repo rate by 25 basis points is bad news for consumers and is going to add significantly to the debt burden. Coming on the heels of a 1% VAT increase and rising inflation – especially in the food sector… Continued
Cape Town – Retailers across the country are bracing themselves for a frenzied rush to their stores on Friday for the so-called Black Friday discount bonanza. Most are unpacking additional stock, hiring extra staff and security in anticipation of a buying mob descending from the early hours. Retailers like Pick ‘n Pay, Shoprite, Checkers, Makro and… Continued
Depending on how much the government plans to recover for the R2 billion it paid to keep the fuel price down in November, consumers could be looking at a reduction in the petrol price of around R1.50 a litre in December, while diesel could drop by as much as 92 cents a litre. This is… Continued
CAPE TOWN – This is the season to be jolly but it’s also the season to fall into a debt trap. Festive season spending fever will go into overdrive with Black Friday this week. While some will be hunting for bargains, many will be plunging themselves into debt by needlessly splurging. One of South Africa’s… Continued
It is highly likely that the latest round of petrol price increases being implemented at midnight will be followed by similar increases in November and December. This is according to independent economist Dawie Roodt who was speaking ahead of petrol going up by R1 a litre, diesel by R1.24 a litre and LPG gas by… Continued
South Africans are urged to tighten their belts or face a tough ride ahead, as the country grapples with the effects of a technical recession. Economist Dawie Roodt said he was certain that most employers will not be increasing salaries, as they will be taking strain themselves. “In fact, some will be forced to retrench… Continued
The debt counselling industry continues to see a growth in applications, and the current economic situation is a huge factor contributing to the financial distress consumers find themselves in. This is according to Debt Rescue CEO Neil Roets, who said that one of the biggest factors this year so far has been the impact of… Continued
Mid-month unaudited data from the Central Energy Fund (CEF) is predicting the biggest fuel price hike in South Africa’s history by some margin, says the Automobile Association (AA). “A spike in international oil prices and a huge swing in the Rand/US dollar exchange rate have combined to predict a knockout blow at the pumps at… Continued
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