south africa

Expect graphics card prices to decrease in South Africa

The price of graphics cards in South Africa can vary greatly according to a variety of factors, from international availability to US dollar exchange rates. AMD’s Radeon RX 500 Series and Nvidia’s GTX 10 Series cards have seen big price fluctuations throughout their lifetime, most notably caused by the popularity of the hardware for cryptocurrency mining in 2017. The local availability and prices of these products have stabilised recently, but

A storm is brewing in the insurance sector

Whether you believe in man-made climate change theories or not, what is undeniable is that extreme weather events are on the increase. We don’t have to look too far for evidence. In SA alone, there were three main catastrophic events over the last year – the fires in Knysna, the drought in the Western Cape, and storms in Gauteng and Kwazulu-Natal (including a tornado near Johannesburg). The average for much

For once, Turkey’s not to blame for rand’s slump

It’s been a tough day for the rand, and for once it’s not entirely Turkey’s fault. The currency slumped more than 3% as investors digested downbeat assessments of the economy by Moody’s Investors Service and the governor of the South African Reserve Bank, the ruling African National Congress’s view that white farmers should hand over “excess” land to the state, and a steep drop in commodity prices. To make matters

South Africa close to deal on autos support plan linked to jobs

South Africa’s government is close to agreeing to new tax breaks for international carmakers including Toyota, Ford and BMW in return for initiatives such as higher levels of employment, according to Trade and Industry Minister Rob Davies. A deal on a 15-year incentive program to replace one that expires in 2020 should be reached this year, Davies said in an interview Tuesday. Some elements of the arrangement are still to

The expected petrol price for September 2018

South African motorists should expect fuel prices to stay flat in September 2018, according to data published by the CEF, reported BusinessTech. According to the data, fuel prices are expected to remain flat for 93 petrol and diesel, due to the falling rand negating any effects from positive movements in global fuel prices. The CEF stated that 95 petrol is expected to increase by around two cents per litre in

Rand sinks as a downbeat Moody’s, Naspers spur a perfect storm

South Africa’s rand headed for its biggest drop against the dollar since 2016, buffeted by headwinds including a downbeat assessment of the economy by Moody’s Investors Service and a plunge in the biggest company on the Johannesburg Stock Exchange. The currency sank as much as 3.4% against the dollar after Moody’s said the pace of South Africa’s fiscal consolidation will be slower than government forecasts as weaker-than-expected economic growth and

Orders jump at South Africa bond auction as investors see value

South Africa just had its strongest bond auction since March, a sign investors are seeing value in the country’s debt after a sell-off sparked by Turkey’s currency woes. Traders placed R9.77 billion ($694 million) of orders, or more than four times the R2.4 billion of securities on sale, at the scheduled weekly Treasury auction on Tuesday, according to data published by the central bank. Source: Bloomberg, Sarb South African yields

South Africa is no Turkey: It’s not going to prop up the rand

A jump in South Africa’s interest-rate bets may be little more than a reflection of the turmoil in Turkey. Forward-rate agreements, used to speculate on interest rates, jumped on Monday after the rand sagged – at one point dropping the most since the 2008 financial crisis – as Turkey’s crisis sapped demand for emerging-market assets. Read: Rand plunges to 2-year low as Turkish crisis hits emerging markets  But the South

Rand traders brace for turmoil as Turkey saps risk appetite

Traders are positioning for more turmoil for the rand as Turkey’s financial crisis damps risk appetite among emerging-market investors. The rand’s one-month implied volatility against the dollar soared by the most since December 2015 on Monday. The South African currency plunged by the most in about a decade during Asian trading hours, but has since pared its decline. The yield on benchmark government bonds climbed above 9% for the first

South Africa zero-rating Vat plan could cost state R4bn

A South African panel has recommended six more consumer items be added to a list of goods that won’t incur value-added tax, which could potentially cost the state R4 billion ($283 million). White bread, white flour, cake flour, sanitary products, school uniforms and diapers should all be zero-rated, according to a report by a panel of experts released by the National Treasury Friday. That would provide tax relief of R2.8