Rand strengthens on Ramaphosa win

The rand appreciated sharply on Monday as investors welcomed the re-election of president Cyril Ramaphosa as leader of the ruling ANC. Ramaphosa’s win — which he clinched after a last-minute heated race against his opponent Zweli Mkhize — has seemingly eased market uncertainty about the ANC’s policy trajectory, sending the rand firmer to R17.30 against … Read more

Sexual misconduct by teachers in schools on the rise

Cases of sexual misconduct by teachers in schools is on the rise and has cost the department of basic education more than R10 million through the precautionary suspension of educators. Police Minister Bheki Cele said in the latest quarterly report on crime that in just three months, 83 rapes had occurred at schools and tertiary … Read more

Small business department carries heavy weight

Despite what its name implies, the department of small business development has a mammoth task on its hands.  This was the thrust of the keynote address delivered by the department’s minister, Stella Ndabeni-Abrahams, at a breakfast event hosted by the ANC-affiliated Progressive Business Forum (PBF) on the sidelines of the party’s 55th elective conference. The … Read more

Retail sales contract in October

Retail sales contracted 0.6% year-on-year in October, with the hardware, paint and glass, pharmaceuticals and medical goods and cosmetics and toiletries being the biggest drag on growth, Statistics South Africa said on Wednesday. Hardware, paint and glass recorded a 16th consecutive quarter of year-on-year decline, decreasing by 4.8% in October, said Raquel Floris, the deputy … Read more

UCT council receives new claim from Kruger against vice-chancellor Phakeng

The University of Cape Town (UCT) council has received a new complaint against embattled vice-chancellor Professor Mamokgethi Phakeng from suspended executive director for communication and marketing Gerda Kruger. Kruger has asked the council for help in a “desperate attempt to seek an internal resolution to an egregious failure of the university leadership to adhere to … Read more

Local barista academy skills the youth of Soweto

The ANC elective conference has created an economic hub at Nasrec and the standout stall is a coffee shop called Huis Van Cofifi completely manned by students in school uniform, as the baristas.  The students have been taught to brew premium coffee delights such as Sowetocana (a play on Americano), Sowetoccino (modelled on the cappuccino), … Read more

Economic policy a sideshow to ANC spectacle

COMMENT It is widely accepted that if President Cyril Ramaphosa is replaced by someone who is not investor-approved there will be a ripple effect on the economy.  Support the journalism that helps you navigate your world Subscribe to the M&G today for just R30 for the first three months* to gain access to this story … Read more

Inflation cools to 7.4% year-on-year

Annual consumer inflation eased to 7.4% in November, down from 7.6% the previous month. This is according to data released by Statistics South Africa on Wednesday, which also showed that annual core inflation (which excludes food and fuel prices) was unchanged at 5%. Economists suspect that inflation peaked in July, when it hit 7.8% year-on-year … Read more