Over the past couple of weeks, the oil price has broken from its downward spiral and been rapidly rising.
This along with a weak rand is pointing to a hike in the fuel price in the first week of March.
Let's take a closer look at what motorists could be paying at the pump in two weeks' time…
Petrol price cuts look over for now
Yesterday, the Automobile Association (AA) warned moto... ››› more
Load shedding is becoming a part of daily life in South Africa.
On Friday, Eskom announced that chances of load shedding over the weekend were slim, yet that all changed once the weekend arrived.
South Africans across the country are having to deal with several hours each day with no power. And operating a business under such conditions is almost unworkable, especially for smaller firms.
... ››› more
With load shedding a daily occurrence in South Africa as Eskom tries to get on top of maintenance and expand capacity, this is putting major pressure on the economy.
So what are the President's and the government's plans to deal with the current issues that are plaguing the country?
Let's take a closer look…
President Zuma sees the power problems as a “challenge”
This morning... ››› more
Earlier today, Stats SA released its quarterly labour force survey detailing the number of people out of work in South Africa for the three months to the end of December.
In comparison to the third quarter, there was an improvement.
Let's take a closer look at what the data revealed…
The unemployment rate dropped to 24.3%
The rate of unemployment fell “to 24.3% of the labour for... ››› more
Yesterday, for the sixth day in a row, Eskom resorted to load shedding.
The power utility continued to roll out stage two load shedding, meaning it can cut up to 2,000MW off the grid.
And this week isn't looking much better.
The issues with the supply of electricity are starting to have a worrying impact on some key industries within the South African economy.
Let's take a closer look... ››› more
This morning, Eskom announced that it would have to implement stage two load shedding again.
This comes after the power utility had to move into stage three load shedding yesterday as the national grid was on the brink of collapse.
The issues with power supplies in the country are worrying investors, putting pressure on the rand and business confidence.
Let's take a closer look at what's ... ››› more
Earlier today, the South African Chamber of Commerce and Industry (SACCI) released its business confidence data for January.
The data, as measured by the business confidence index (BCI), showed the worst start to the year since 1997.
There are a number of economic reasons for this, including the negative impact of load shedding.
Let's take a closer look at what the data revealed…
... ››› more
Yesterday, Eskom had to resort to stage two load shedding after encountering technical problems with several of its power station units.
And the problems continue today.
Early this morning, Eskom advised that it would be implementing stage two load shedding for much of the day.
So why is the power utility struggling to keep the country powered with enough electricity?
Let's take a clos... ››› more
Yesterday, Eskom surprised with the announcement that it didn't have to begin stage one load shedding as early as planned. But later in the afternoon, the power utility did implement it.
But today, the situation of the country's power grid has deteriorated. After beginning stage one load shedding, Eskom has now resorted to stage two.
The power utility blames a number of technical faults.
... ››› more
Yesterday, the rand jumped stronger against the dollar as the oil price continued to rise.
Traders around the globe are looking to riskier assets again as there are hints the worst of the oil price slump is over, for now.
Let's take a closer look at what's going on…
The rand strengthened over 1% yesterday
This morning, the rand has held onto its gains from yesterday after hitting ... ››› more
In some welcomed good news, Eskom revealed that it's cancelled its planned load shedding for today.
The power utility puts this down to electricity users reducing their consumption.
Let's take a closer look at what's going on…
Eskom thanks consumers for their part in reducing electricity usage
Today, Khulu Phasiwe, a spokesman for Eskom, “praised consumers for heeding the call t... ››› more
Yesterday the National Association of Automobile Manufacturers (NAAMSA) released its new vehicle sales numbers for January.
The data showed a fall in new sales over the month after a significant rise in sales in December.
Let's take a closer look at what's going on…
New vehicle sales contracted 1.2%
New vehicle sales dropped “1.2% year-on-year in January to 52,306 units,” repo... ››› more
Eskom's battle to keep South African powered with enough electricity continues.
After Eskom warned last month that the grid would be under severe pressure for the next few months as it tried to get on top of overdue maintenance, one of the company's nuclear units is down.
Let's take a closer look at what's going on…
Eskom suffers another blow
Eskom says that the country’s electr... ››› more
This morning, Eskom warned of severely constrained power supplies continuing to blight the country. From tomorrow until the middle of next week, the power utility expects a power deficit.
Yesterday, following the Reserve Bank's monetary policy committee meeting, the governor, Lesetja Kganyago, raised his concerns about the negative impact of load shedding on the South African recovery.
Let's... ››› more
Yesterday afternoon, the South African Reserve Bank announced that, as expected, it was keeping interest rates unchanged.
Since then, the rand has managed to hold its ground. But attention is turning to local data due out this afternoon.
Let's take a closer look at what's going on…
If consumer inflation continues to ease, the Reserve Bank could slash interest rates
The rand manage... ››› more
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