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?

Johannesburg, 23 November 2017 – Globally mobile individuals, also known as expatriates or ‘expats’, who choose to live and work in South Africa, cite the adventure (74%), a better quality of life (72%), or to gain international experience (67%) as their reasons for accepting assignments in the country. These reasons are likely to be similar for expats living and working throughout Africa, given the continent’s rapidly evolving markets and abundant natural beauty. sa-good-news-expats This is according to the 2017 Cigna 360° Well-being Survey, which looks at the health, well-being, and sense of security among 2 000 expats living in 20 markets across five continents. Expats around the world, including those working in South Africa, share a high level of concern about the quality of medical care available in the countries they are in. With this in mind, more than half of these individuals consider medical insurance coverage to be a very important factor when considering a move overseas. Perceptions of physical, financial, social, family and work health among expats were also examined and compared with all working people in the 2017 survey. “Our 360° Well-being Survey captures the sentiments of an expat environment that is rapidly evolving. Overseas assign

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

JOHANNESBURG - South Africa’s economy expanded 2% in the third quarter of the year down from an upwardly revised 2.8% recorded in the second quarter – but still beat market expectations of a 1.5% rise. The agricultural sector showed the biggest growth in the quarter under review surging 14.9% quarter on quarter- its biggest quarterly growth in 21 years. Higher production of field crops and horticultural products did most of the heavy lifting in the agricultural sector. Statistics South Africa said the nominal gross domestic product (GDP) grew R1.2 trillion in the third quarter, R22bn more than in the second quarter. Mining was up R7bn to R83bn, while manufacturing was up R9bn in the quarter to R140bn.  However, electricity was down R6bn to R39bn in the period.  Mining production in petroleum and basic metals divisions resulted in the secondary sector recording 2.1 percent in the third quarter. Macroeconomics statistics website Trading Economics said GDP Growth Rate in South Africa averaged 2.83 percent from 1993 until 2017, reaching an all-time high of 7.60 percent in the fourth quarter of 1994 and a record low of -6.10 percent in the first quarter of 2009.

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

After winning a bruising battle for control of South Africa’s ruling party, Deputy President Cyril Ramaphosa now faces an even more daunting task: rebuilding an economy battered by years of misrule, corruption and the appointment of incompetent officials. Ramaphosa has pledged to reignite growth, rebuild investor confidence and tackle a 28 percent unemployment rate. He’ll be the African National Congress’s presidential candidate in 2019 elections but could take over running the country even sooner should President Jacob Zuma make an early exit. Here’s what he plans to do:
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

South Africa to take tough decisions to grow economy: Gigaba

  JOHANNESBURG (Reuters) - South Africa’s government will take “necessary tough decisions” to stabilize public debt and grow the economy, Finance Minister Malusi Gigaba said on Saturday. “We will take the necessary tough decisions to continue fiscal consolidation and stabilization as we move towards the 2018 budget in February,” Gigaba told a breakfast briefing before the start of the ruling African National Congress conference to pick a new party leader.

The Guardian view on the ANC’s new leader: a fresh start

South Africa’s African National Congress has done the world a favour in electing Cyril Ramaphosa as its leader. The party now has a serious chance to stop the country’s slide into a mire of corruption and racially charged rhetoric. Mr Ramaphosa is almost certain to take over as the country’s president in 2019. Under President Jacob Zuma the state has been conspicuously failing. Contracts were awarded to cronies; ruling-party activists murdered each other over lucrative government positions; crooks operated with growing impunity. Mr Ramaphosa defeated Mr Zuma’s former wife, Nkosazana Dlamini-Zuma, who as a former ANC minister had plenty of political experience. But her main qualification appeared to be loyalty: Ms Dlamini-Zuma had been expected to shield her former husband from 783 counts of corruption if she had won. Her victory would have paved the way for South Africa to become a hereditary kleptocracy. By contrast Mr Ramaphosa is the best chance for recovering the optimism South Africa radiated more than 25 years ago. The young lawyer was at Nelson Mandela’s side when he left Victor Verster prison in 1990, and was groomed to be his heir until he lost out to Mr Mandela’s eventual successor, Thabo Mbeki. Mr Ramaphosa then left politics for business. The former trade unionist ended up one of the country’s richest men a

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