Standard Bank has the rand beginning 2024 on the back foot as the dollar strengthens. However, as the Federal Reserve cuts rates, the rand will gain back lost ground against the dollar – ending the year at R18.40/USD. The bank’s chief economist, Goolam Ballim, explained that South Africa is a very open economy and is thus heavily affected by global economic movements. “The global temperature will not be too hot nor too cold but just
Amid the challenging operating environment, entrepreneurs in South Africa are increasingly hesitant to start new businesses, limiting the creation of desperately needed jobs. According to the 2023 Global Entrepreneurship Monitor South Africa (GEM SA) report by the Stellenbosch Business School, South Africa’s early-stage entrepreneurial activity (TEA) has dropped below pre-pandemic levels. The report states that the country’s weak economy and insufficient enabling environment for businesses are hampering the potential of entrepreneurship to improve economic growth, job
Key indicators show that South Africa’s property sector will shift from a buyer’s to a seller’s market in 2024. Chris Tyson from Tyson Properties said that interest rates are expected to drop later this year, leading to an uptick in property transactions. He added that there were still positive undercurrents in a somewhat downbeat 2023. According to Lightstone, the 2023 market was down 29% on average, but the Lightstone Report showed that 38% of all

Bad news for solar in South Africa

Posted on February 16, 2024
The solar rebate for South African homeowners and businesses ends in a few weeks, with the National Treasury unlikely to extend its deadline. Following the intensification of load shedding in 2022, Finance Minister Enoch Godongwana announced an individual tax break in the 2023 Budget, offering R15,000 rebates for individuals looking to install solar. This only applies to purchasing new solar panels, not inverters, batteries, and other costs. However, the renewable energy tax breaks for businesses

City of Tshwane is sinking deeper into debt

Posted on February 8, 2024
Risk of doing business with the metro is increasing. The City of Tshwane is sinking deeper into debt and the amount it owes Eskom has ballooned from R1.1 billion in September to almost R3.9 billion at the end of January. The last payment it made to Eskom was a partial payment of R400 million in September. The city’s purse has since been so empty that it has failed to pay Eskom a single cent, according