


South African Economy Submersion into Slowness

World Bank slashes South Africa’s economic growth outlook

What to expect in 2018 in SA
What to expect in 2018
Nel told MyBroadband there have been a few consolidations in 2017 that will come to fruition next year, and consumers will reap the benefits. “South Africa is still a tumultuous market for any businesses to operate in, but uncertainty only fuels classifieds from the ground up,” he said. “A weaker economic outlook and high unemployment creates greater consumer interest and participation in the space, because of the ease of entry and associated cost savings.” This should see new players enter the market, coupled with increased marketing spend and investment from established businesses. Nel said Gumtree will also remain true to its goal of helping South Africans trade successfully. “We’ve been the number one classifieds platform in terms of our size and popularity for a number of years now, but we’ve never taken that for granted.” “2018 will see a renewed focus on the quality of the user experience, their needs, concerns, and goals.” The platform will also offer its clients improved advertising services through Gumtree Media. “South Africa is on the cusp of a new, smarter era of online advertising and Gumtree will lead the charge,” said Nel.
Bumper harvest helps keep economy afloat
Bumper harvest helps keep economy afloat
The South African economy grew by 2,0% in the third quarter of 2017 (seasonally adjusted and annualised), down from a revised 2,8% in the second quarter. Agriculture, mining and manufacturing were the main drivers of the expansion, while there was a contraction in general government services resulting from low employment numbers in the public sector. After recording an increase of 38,7% in the second quarter, the agriculture industry continued to power ahead, expanding by 44,2% in the third quarter. This is the largest quarterly jump in agriculture production since the second quarter of 1996. Increased production of field crops and horticultural products were the main contributors to growth, with notable increases in the production of maize and vegetable products. This season’s maize crop is expected to be the largest on record. The Crop Estimates Committee have pegged commercial maize production for this season at 16,74 million tonnes, more than double the 7,78 million tonnes produced last year (2015/16), and higher than the current record of 14,66 million tonnes harvested in 1980/81.2 Mining and manufacturing were the other major contributors to economic growth in the third quarter. Increased gold and platinum production saw the mining industry grow by 6,6%, while the 4,3% rise in manufacturing was spurred on by increased production of both petroleum and metal products. Fi
Why Do People Choose To Live In South Africa?


South Africa’s GDP grew by 2% due to agriculture

South Africa: Finance Minister Congratulates New FIC Director
Finance Minister Malusi Gigaba has congratulated Advocate Xolisile Jennifer Khanyile on her appointment as the Director of the Financial Intelligence Centre.
"The Financial Intelligence Centre (FIC) plays a key role in ensuring that the financial system has integrity. We also believe that Advocate Khanyile will work with other industry stakeholders to ensure that transparency is improved in South Africa's financial system in order to support higher economic growth. We wish her well in her new role," said Minister Gigaba on Thursday.
Advocate Khanyile's appointment will be effective from 1 January 2018.
She holds a B Juris Degree from the University of Zululand, an LLB from the University of Zululand, and a Management Development Programme (MDP) from the University of the Free State Business School.
Positions Advocate Khanyile has held include that of Director of Public Prosecutions in the Free State; acting Director of Public Prosecutions in South Gauteng and Deputy Director of Public Prosecutions in the Asset Forfeiture Unit, among others.
The FIC collects information and analyses suspicious transactions

8 ways Ramaphosa plans to fix South Africa’s economy
Create at least 1 million jobs within five years Jobs will become the centerpiece of government policy. Special economic zones will be established and tax reforms and other incentives introduced to encourage manufacturers to hire. The government will also repair its relationship with the mining industry and provide it with greater policy certainty in a bid to persuade them to take on more workers. A youth-employment program will be scaled up to provide 1 million paid internships to unemployed people within three years.
Prioritize growth and investment The government will target 3 percent economic growth next year, up from about 0.7 percent this year, and 5 percent by 2023. It will take urgent measures to repair investor confidence, including improving institutional stability, restoring the credibility of the criminal-justice s
