Star 2025-03-20

The South African Reserve Bank (Sarb) is anticipated to maintain its current interest rate at 7.5% per annum on Thursday, as it takes a measured approach to assess the potential ramifications of an impending value-added tax (VAT) increase. This decision comes amidst predictions of rising consumer inflation, which is expected to persist its upward trajectory in the forthcoming months. With economic pressures mounting, many are looking towards the Sarb's next moves as a litmus test for the ongoing cost-of-living crisis affecting households across the nation. The looming VAT hike, designed to bolster government revenue, raises questions on how it might influence day-to-day consumer spending and, ultimately, inflation rates. This comes as the annual headline consumer price inflation in South Africa showed resilience in February, remaining unchanged from January at 3.2%.…

Google South Africa has heralded a new era for the continent with the official launch of its R2.5 billion Google Cloud region in Johannesburg. This significant infrastructure investment stands as a monumental stride in business and technology transformation, not only for South Africa but for the entire African continent. The introduction of this cloud region positions South Africa among the 40 global regions and 121 zones in Google Cloud's expansive network, delivering cutting-edge services to over 200 countries and territories. With the establishment of the cloud region, Africa gains access to the world's best data warehouse platform, a crucial asset for businesses seeking to leverage technology for growth and innovation. Ferdinand Steenkamp, co-founder at Tregter, a locally founded data company based in Cape Town, said bringing Google Cloud services closer…

All Share Index climbs more than 1%, breaching the 90 000 mark for the first time in history The Johannesburg Stock Exchange (JSE) has seen a major rally this week, with the All Share Index climbing more than 1% on Wednesday, breaching the 90 000 mark for the first time in history. The rally was led by retailers and commodities as Pepkor's share price rose 6.3% followed by Mr Price at 5.9%. Truworths at 3.8% and TFG 3.5%, while African Rainbow Minerals rose by 4.7%, Anglo Gold at 3.6% and DRDGold at 3.0%. Investec economist, Annabel Bishop told Business Report on Wednesday that risks in investor sentiment had subsided now that the 2025 Budget had been tabled by the Minister of Finance, Enoch Godongwana. Bishop added added that copper prices…

South Africa's industrial policy needs a rethink in several areas, including the review of fossil fuel subsidies, which have tripled from R39 billion in the period between 2018 to 2023 to about R118bn in the current term with little tangible benefit for the economy. These are the views of a panel of experts during a discussion on Rethinking South Africa's Industrial Policy at the Trade and Industrial Policies Strategies (TIPS) webinar on Wednesday. They said the review also needed to encompass the country's carbon tax tariffs currently below $10 per ton on imports while the country's exports to market, including the European Union (EU) and the US and range between $30 per ton to R50 per ton. The increase was largely driven by the global energy crisis, with consumer subsidies…

Goss’s wilt and leaf blight is caused by Clavibacter nebraskensis, a bacterium that derives its name from the fact that the disease was first noted in the US state of Nebraska in 1969. The bacterium is therefore neither new nor unknown and has also been around in South Africa for a long time, albeit in other guises, such as tomato wilt that is caused by Clavibacter michiganensis subspecies michiganensis. Goss’s wilt in SA In South Africa, Goss’s wilt was first noted and reported early in the 2024 season. Most cases were found in Northwest, with some unconfirmed reports in Gauteng and on the Eastern Highveld. However, it is possible that the disease has been in the country since the early 2000s but that it remained undetected due to its symptoms…

Red meat farming associations have raised concern regarding the spread of the foot and mouth disease (FMD) outbreak in KwaZulu-Natal. This follows Minister of Agriculture John Steenhuisen announcing that the department would extend the boundaries of the Disease Management Area (DMA) first declared in 2021 following new cases being detected in Newcastle in northern KZN. The Department of Agriculture on Monday said that the disease has now spread beyond the initial Disease Management Area (DMA) declared in 2021, when outbreaks of the SAT2 FMD strain first emerged in the province. “No cloven-hoofed animals, their products, or genetic material may be moved to or within the DMA unless authorised by a state veterinary permit and in full compliance with the stipulated conditions of such permit,” it said. The department added that…