Star 2024-12-19

Sentiment around policy certainty in South Africa has deteriorated even further, which confirmed the country’s slow but uneven economic recovery. The North West University (NWU) Business School Policy Uncertainty Index (PUI) for the fourth quarter of 2024 unexpectedly went much further into negative territory to 65.7, compared to 53.5 in the third quarter (baseline 50). The NWU said that this elevation in the PUI was the outcome of the cumulative impact in the final quarter of 2024 of a number of negative factors that, on balance, outweighed the positive ones in the past three months. According to the NWU, a cross-cutting number of internal and external events therefore converged to shift economic perceptions in the fourth quarter of 2024. However, NWU Business School economist Prof Raymond Parsons said that although…

The Johannesburg Stock Exchange (JSE) has lost another listing, with London-based London Finance & Investment Group, a small cap worth some R483.7 million in South Africa, announcing yesterday that it would stop trading on both the local bourse and the London Stock Exchange. The firm, an investment company whose assets consist primarily of a general portfolio of global equity stocks, is the latest entity to leave the JSE. This follows the departure of companies such as African Equity Empowerment Investments, wealth and asset management firm Peregrine Holdings, Royal Bafokeng Platinum, Distell, Mediclinic International, and the PSG Group. Last year alone, 23 companies exited the exchange. The bourse has shrunk by at least 50% in the past 20 years, from about 600 companies in the early 2000s to about 300 now,…

The National Consumer Tribunal has fined Braai Block, a supplier of food based in Gauteng, R1 million for contravening the provisions of the Consumer Protection Act (CPA). The National Consumer Commission (NCC) acting commissioner, Hardin Ratshisusu, said yesterday that this was a major ruling as it affirmed the protection for consumers against suppliers that do not disclose accurate information on sales records. “This ruling should serve as strong deterrence to other suppliers from engaging in similar conduct,” Ratshisusu said. In a statement, the NCC said it had received a tip-off from a consumer alerting it to possible violations of various provisions of the CPA by Braai Block. “The consumer alleged that Braai Block did not include the location of its trading address in its tax invoices and secondly, Braai Block…

Minister Lamola says the Maputo corridor poses a major threat in country’s energy security Minister of International Relations and Cooperation, Ronald Lamola, has warned that tourism to Maputo by South Africans was going to be challenging over the festive season. This comes as a bilateral meeting between South Africa and Mozambique yesterday came up with stop-gap measure that hinges on the announcement by that country’s Constitutional Council of the recount of the disputed October 9 vote in Mozambique. Lamola yesterday said the bilateral engagements in Malelane, Mpumalanga province, came up with commitments from Mozambique to be more vigilant on the all important Lebombo Corridor leading to the Maputo port. He said that the declarations list had been whittled down to bare essentials as tensions over elections in that country start…

As we approach the end of 2024, investors find themselves at an interesting crossroads, navigating through a complex mix of optimism and uncertainty. The economic landscape, particularly in the United States, presents a paradox: while prevailing sentiment suggests strength, the fundamental data reveals significant vulnerabilities. Looking ahead to 2025, it is imperative to examine these nuances and consider investments beyond US borders. Underlying cracks in US economy could impact economic outlook The US economy’s narrative has been largely positive, with economic growth holding steady, inflation appearing manageable, and unemployment figures remaining low. On the surface, these metrics have painted an encouraging picture, reinforcing confidence among global investors. However, a closer examination of consumer debt, savings, and corporate vulnerabilities uncovers underlying cracks that could reshape the economic outlook. One of the…

As South Africans prepare for their traditional end-of-year festivities – from family braais to elaborate Christmas spreads – an uncomfortable truth lurks behind our celebrations. In a country where millions of people experience hunger, our holiday food waste remains disturbingly high. Statistics by the Department of Environment, Forestry, and Fisheries (DEFF) indicate that roughly 10 million tonnes of food is wasted annually, 500 000 tons of which come from consumption waste. This is food that could otherwise feed over seven million people per year – particularly significant in a developing country like South Africa, which is faced with widespread poverty, hunger, and food insecurity. The environmental toll of food waste is substantial. When food decomposes in landfills, it generates methane, a greenhouse gas around 28 times more effective than carbon…