Both the government and ordinary South Africans need to rein in spending and balance their budgets until we can get the economy growing, attract more investment and create jobs, Finance Minister Pravin Gordhan said at a media briefing on Thursday.
The international film industry has spent R15-billion on productions in South Africa since 2004,
and a recently completed US TV series shot in Cape Town has highlighted one of the country’s
new economical strengths: beating Hollywood at its own game.
After his working visit to Japan in 2015, Deputy President Cyril Ramaphosa continued discussions with the Keidanren, the Federation of Economic Organisations of Japan. The aim is to foster closer ties to realise the goals of South Africa’s National Development Plan.
“If your existing customers are buying less of your product, and they are paying less for it, the smart thing to do, among other things, is to seek new uses for your product.” Rob Davies, minister of trade and industry, says the country is looking towards beneficiation for its platinum riches.
Mineral Resources Minister Mosebenzi Zwane opened the Investing in African Mining Indaba this morning on a sombre note, saying it comes when mining is in its “winter season”. But said he had met one on one with stakeholders and was certain there were ways they could revive the industry.
Ahead of the Mining Indaba, Mineral Resources Minister Mosebenzi Zwane emphasised that despite labour, revenue and social challenges in the industry, the future of mining in South Africa was still bright. Progress had been made to save jobs and address transformation, he said.
South Africa has ranked moderately in a report showcasing how domestic policy can foster global innovation. South Africa came in at 30 out of 56 countries. Kenya was the only other African country to be featured in the rankings.
A South African start-up, referred to as the Uber of professional cleaning services, has secured
R10-million in venture capital funding from the entrepreneurship incubator, the Vumela Fund, and
First National Bank. It’s not the first time SweepSouth has caught the eye of investors.
The Johannesburg Stock Exchange is expanding. Long based in the financial hub of Johannesburg, it is opening an office in South Africa’s second main economic hub of Cape Town. The new premises will allow the exchange to provide more accessible support in the Mother City.
As the annual meeting of the World Economic Forum in Davos begins this week, South Africa will
present a positive message of robust growth for the country, including details of the nine-point
plan for economic recovery first disclosed in the 2015 State of the Nation address.
The World Economic Forum will take place in Davos-Klosters, in Switzerland from 20 to 23 January. South Africa will be represented by the president, flanked by numerous ministers and prestigious business and industry leaders. We take a look at who will be jetting to the Swiss village.
The Reserve Bank has issued a commemorative R5 coin into general circulation that celebrates
Griekwastad, in Northern Cape. The town was an important stopover on the trade route into the
interior. The issue also commemorates the history of coinage in South Africa.
South African investment billionaire Allan Gray has pledged his entire controlling stake in his
global investment company and its offshore partners to philanthropic work with various charities
in South Africa and around the world.
This year is the 15th anniversary of the Forum on China-Africa Co-operation. It is expected to serve as a cornerstone for continued improved relations. It is also the first time it is being held in Africa, with Chinese President Xi Jinping and President Jacob Zuma co-chairing the meeting.
The overall winners of Step Up 2 a Start Up II, the public private partnership established to encourage entrepreneurship in young people, were announced during an inspiring awards evening held in Joburg on 1 December. They were driven by the credo: “Design it, make it, sell it.”
Ahead of the Forum on China-Africa Co-operation summit during the first week of December, the
emergent economic relationship between South Africa and China is well illustrated in the small
but rapid success in South Africa of Beijing Automotive Works.