SA economy - The African Mirror

Nov

2020

South African investment conference raises R109-billion

AFRICAN MIRROR REPORTER THE South African economy, battered by COVID-19, has received a timely boost - the government has raised R100-billion at the third investment conference hosted in Johannesburg. South African president Cyril Ramaphosa has described the conference as a huge success and said focus would now be on implementing the many projects that have attracted investment funding. Ramaphosa was pleased and said the pledges at the 2020 conference showed that South Africa was on track to raise the R1.2-trillion target that was set in 2018. The R109-billion pledged this year by five companies, brought the total of pledged investments…

Oct

2020

By The African Mirror

Trillions in investments, thousands of jobs to help Africa’s 2nd biggest economy recover from COVI-19 devastation

NEWS

AFRICAN MIRROR REPORTER SOUTH African president has unveiled a bold multi-trillion rand programme to revive an economy battered by the COVID-19. In a special address to Parliament, Ramaphosa said to recover from COVID-19, South Africa has to unleash the full potential of its economy by, among others, implementing necessary reforms, removing regulatory barriers that increase costs and create inefficiencies in the economy, securing our energy supply, and freeing up digital infrastructure. He said the plan directly responds to the immediate economic impact of COVID-19 by driving job creation and expanding support for vulnerable households. This would be done through a…

Sep

2020

By The African Mirror

S-African economy to shrink by more than government’s 7% forecast in 2020

BUSINESS

SOUTH Africa’s economy will likely contract this year by more than the 7% previously forecast by the Treasury, Finance Minister Tito Mboweni said in an opinion piece published on Sunday. Gross domestic product shrunk by a record 51% in the second quarter, its fourth quarterly contraction in a row, as a strict lockdown to curb the spread of the coronavirus saw activity grind to a near-standstill. “The contraction in growth is larger than anticipated by the National Treasury and the SA Reserve Bank, which raises the risk that the actual GDP outcome for this year could be lower than previously…