MBSA gives EC government update on billion rand investment
Eastern Cape Member of the Executive Council for Finance, Economic Development, Environmental Affairs and Tourism, Lubabalo Oscar Mabuyane paid a special visit to the Mercedes-Benz Plant in East London. The purpose of MEC Mabuyane’s visit to the plant was to discuss the progress made to the expansion programme of... Read more
Formal sector employment grows
The Quarterly Employment Survey (QES), one of two surveys conducted by StatsSA, showed that employment in the formal sector grew by 158 000 during the 12 months of 2018. During the last three months of last year, employment grew by 87 000. The survey excludes data on agriculture and... Read more
Inward direct investment more than doubles in 2018
President Cyril Ramaphosa’s aggressive efforts to boost the country’s stagnant economic growth are yielding results, according to figures released by the South African Reserve Bank (SARB). In the Quarterly Bulletin released on Wednesday, the SARB said inward direct investment increased from only R26.8 billion in 2017 to R70.7 billion... Read more
Inaugural export symposium for EC
A total of 200 export industry delegates and 27 exhibitors are billed to attend the first Eastern Cape Export Symposium and Exhibition at the Abbotsford Christian Centre in East London between the 27 and 28th of March. An initiative of the Eastern Cape Development Corporation (ECDC) in partnership with... Read more
Government plans to protect wetlands
Eastern Cape Finance, Economic Development, Environmental Affairs and Tourism MEC, Lubabalo Oscar Mabuyane said the national and provincial government is increasing efforts to rehabilitate nine wetlands across the province as part of the national bio-diversity plan. Speaking at the provincial Wetlands event, Mabuyane said government investing R18 million into... Read more
Africa Trade Week: Africa is open for business
Africa is open for business and the continent is looking increasingly attractive as a trade and export destination, with average annual growth for Sub Saharan Africa forecast at 8% until 2023, which is a positive outlook following the downturn between 2015 and 2017. This is according to Liz Whitehouse,... Read more
Petrol price to increase on Wednesday
Consumers are in for a shock at the pumps as the price of petrol is set to increase by 74 cents a litre from Wednesday. The Department of Energy on Monday announced fuel hikes of 74 cents a litre for both grades of petrol 93 (ULP and LRP) and 95... Read more
SA companies to sample Asian food market
Gauteng businesspeople say they are ready to access the Asian market and secure opportunities during the 44th Foodex Trade Fair. The companies, which are amongst the 30 companies that received financial support from the Department of Trade and Industry (the dti), will participate in the trade fair from 5-8... Read more
Black Industrialists projects attract R13.2bn
The 131 projects that have been approved under the Black Industrialists Scheme have resulted in increased investments and job creation. “The approval of these 131 projects of black entrepreneurs has leveraged over R13.2 billion of private-sector investment, about 9 500 new jobs created and 8 900 retained in a... Read more
National Treasury revised economy’s growth down to 1.5% in 2019
National Treasury has revised down the South African economy’s growth to 1.5% in 2019. In the 2019 Budget Review document on Wednesday, Treasury said Gross Domestic Product (GDP) has been revised down since the Medium Term Budget Policy Statement (MTBPS) tabled in October 2018. The document attributed the drop... Read more