B2B Central

Economy

12 Apr 2021

COVID-19 Loan Guarantee Scheme extended for three months

By Staff Writer

The Loan Guarantee Scheme (LGS) was announced by President Cyril Ramaphosa on 21 April 2020 as part of the Economic Stimulus Package and was designed to support small businesses that were experiencing financial distress as a result of the COVID-19 pandemic.

08 Apr 2021

NDB approves loan to South Africa

By Staff Writer

Today, April 2, 2021, the Board of Directors of the New Development Bank (NDB) approved a USD 1 billion COVID-19 Emergency Program Loan to the Government of the Republic of South Africa for supporting South Africa’s economic recovery from COVID-19 (the Loan).
07 Apr 2021

Government welcomes IMF's upward growth outlook

By Staff Writer

Government welcomes the International Monetary Fund’s (IMF) revised upward growth outlook for South Africa from 2,8% to 3,1% for 2021. "The upgrade to South Africa's growth outlook affirms the robustness of our economy and positive economic interventions despite tough conditions," the Presidency said this evening in a statement.
07 Apr 2021

Expropriation of land without compensation – where are we?

By Staff Writer

On 13 December 2019, the Constitution Eighteenth Amendment Bill (the Amendment Bill) was published in the Government Gazette. Since then, a lot of water has passed under the bridge with regards to an amendment to the laws of the Republic of South Africa dealing with the expropriation of land without compensation.
07 Apr 2021

FSWG of SA Chapter of BRICS Business Council to host discussions

By Staff Writer

The Financial Services Working Group (FSWG) of the South African Chapter of the BRICS Business Council will host a series of three 90-minute roundtable discussions over three weeks during May 2021. The series aims to create an open platform for discussion around various actionable themes focused on accelerating investment for inclusive economic growth.
07 Apr 2021

SACCI: Business confidence maintains improved level

By Staff Writer

In light of the impact of the lockdown on the business climate and economic activity, the private sector has shown resilience and tenacity with a substantial number of businesses managing to survive the adverse climate. This is according to the SA Chamber of Commerce and Industry (SACCI).
07 Apr 2021

Are rising US bond yields set to spark a sell-off in EM assets?

By Staff Writer

The recent rapid rise in long-dated US Treasury (UST) bond yields has some market watchers concerned that this could soon have a negative impact on the demand for emerging market assets, including SA equities and bonds, sparking a sell-off in emerging markets (EM).
06 Apr 2021

IMF: Global economy on firmer ground, but with divergent recoveries

By Staff Writer

Global prospects remain highly uncertain one year into the pandemic. New virus mutations and the accumulating human toll raise concerns, even as growing vaccine coverage lifts sentiment.

04 Apr 2021

Offshore gas finds offered major promise for Mozambique: what went wrong

By Staff Writer

Recent events in Palma, a town in the volatile Cabo Delgado province in the north of Mozambique, have taken bloodshed in the region to new levels. Dozens of people were killed when hundreds of Islamist militants stormed the town on Wednesday, 25 March. They targeted shops, banks and a military barracks.
01 Apr 2021

Weekly Economics: SA's employment increases in the last quarter of 2020

By Staff Writer

Stats SA’s Quarterly Employment Statistics (QES) shows that total employment increased by 76 000 (0.8%) quarter on quarter, from 9 564 000 in Q3 2020 to 9 640 000 in Q4 2020, supported by increases in trade, community and business services.

01 Apr 2021

SAHPRA registers Covid-19 Vaccine Janssen with conditions

By Staff Writer

The South African Health Products Authority (SAHPRA) registered the Covid-19 Vaccine Janssen on31 March 2021, it says in a statement today. The registration was done in terms of Section 15(6a) of the Medicines and Related Substance Act 101 of 1965, which allows SAHPRA to register a medicine subject to certain conditions. The Covid-19 Vaccine Janssen...
31 Mar 2021

Amid Recession, Sub-Saharan Africa Poised for Recovery

By Staff Writer

Economic growth in Sub-Saharan Africa is estimated to have contracted by 2.0% in 2020, closer to the lower bound of the forecast in April 2020, and prospects for recovery are strengthening amid actions to contain new waves of the pandemic and speed up vaccine rollouts, according to the World Bank’s biannual economic analysis for the region.