Tag: economy
-
African remittances surpass $90bn a year
Remittances, or the money workers send back to their families in their home country, are now a major part of the economies of many African (and non-African) countries. So much so that countries like Kenya are seeing more money entering the country from remittances than from some of its more traditional exports like tea and…
-
Food prices edge higher despite overall inflation cooling to 4.4%
Inflation for food and beverages edged higher in August, breaking an eight-month downtrend, according to data released by Statistics SA on Wednesday. Consumer inflation slowed overall to 4.4%. This is the lowest it has been since April 2021. Annual food and non-alcoholic beverages inflation accelerated to 4.7% in August, up from 4.5% in July. The…
-
Petrol price to drop by R1 a litre for second consecutive month
Relief on the horizon for South Africa’s drivers after the Department of Energy announced that the price of petrol is set to drop. From Thursday 3 July, the price of 95 octane fuel will decrease by 99c, bringing it down to R23.26 a litre (inland prices). This is the first time petrol has been at…
-
Freight failures: Transnet’s rail woes impact SA’s coal exports
Transnet transported 58-million fewer tonnes of coal, iron ore and other commodities in the 2022/3 financial year than it did 10 years ago, with coal making up a third of its freight. The state-owned entity attributes the reduced rail capacity to underinvestment in network rehabilitation, vandalism and sabotage as well as to disputes over locomotive…