
<p>LONDON, May 4 (Reuters)&nbsp;&#8211;&nbsp;Inflation in South Africa is set to rise to 8% this year, overshooting the central bank&#8217;s target amid the global impact of the Ukraine conflict and rising U.S. interest rates, credit rating agency Moody&#8217;s forecast in a report on Wednesday.</p>



<p>Moody&#8217;s said inflation was set to be higher than the South African Reserve Bank&#8217;s 3-6% target range this year, before falling in 2023 and 2024, with the central bank likely to continue to tighten monetary policy after it raised interest rates in March.<a href="https://www.reutersconnect.com/all?search=all%3AL5N2VR4YO&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a></p>



<p>South Africa&#8217;s finances were already under strain before the COVID-19 pandemic and worsened during&nbsp;successive waves of the virus, but have improved thanks to bumper prices for the country&#8217;s&nbsp;mineral&nbsp;commodity exports. But South Africa&#8217;s finance minister warned last month that the negative impact of high energy prices could outweigh this.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2WK4WG&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a></p>



<p>Moody&#8217;s cited risks to the country&#8217;s economy from&nbsp;highly indebted&nbsp;state-owned companies&nbsp;such as power utility Eskom, a rigid labour market and high social spending.</p>



<p>&#8220;The electricity sector poses the greatest risks to economic growth prospects, with generation capacity already insufficient to cover the economy&#8217;s needs,&#8221; Moody&#8217;s said in the report.</p>



<p>Power outages implemented by state-owned Eskom have constrained economic growth in Africa&#8217;s most industrialised country for more than a decade.</p>



<p>Moody&#8217;s upgraded South Africa&#8217;s outlook from &#8220;negative&#8221; to &#8220;stable&#8221; in April, keeping the government&#8217;s Ba2 rating and stating high commodity prices and fiscal consolidation would help to stabilise debt at around 80% of GDP in the&nbsp;medium term.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL3N2VZ3E2&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a></p>



<p>(Reporting by Rachel Savage. Editing by Jane Merriman)</p>


South African Economy As Inflation Rate Rises For First Time In 2017

Moody’s expects South Africa’s inflation to hit 8% in 2022￼


<p></p>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/03/106970721-1636033270223-gettyimages-1232591117-AFP_98Y9XM.jpeg" alt="" class="wp-image-415885" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/03/106970721-1636033270223-gettyimages-1232591117-AFP_98Y9XM.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2022/03/106970721-1636033270223-gettyimages-1232591117-AFP_98Y9XM-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/03/106970721-1636033270223-gettyimages-1232591117-AFP_98Y9XM-160x90.jpeg 160w" sizes="(max-width: 740px) 100vw, 740px" /><figcaption>A doctor monitors a Covid-19 patient in the Covid-19 intensive care unit of the community hospital in Germany on April 28, 2021.
RONNY HARTMANN | AFP | Getty Images</figcaption></figure>


106970721-1636033270223-gettyimages-1232591117-AFP_98Y9XM

South Africa may be entering fifth COVID wave – health minister

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<p>Engineering workers affiliated to metal workers union Numsa have threatened to go on strike over a wage dispute with employers in the sector.</p>


Numsa threatens industrial action in steel and engineering sector

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<p>Almost 80 per cent  of Africa&#8217;s C-suite executives are optimistic about business growth this year. This is according to Mazars Global C-suite Barometer. This view is supported by the short term strategies that the surveyed businesses have implemented. Anoop Ninan, Co-CEO at Mazars joins CNBC Africa for more.</p>


Majority of Africa’s C-suite executives optimistic about growth outlook

Majority of Africa’s C-suite executives optimistic about growth outlook, survey finds

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<p>Royal Bafokeng Platinum reported a 446 per cent jump in headline earnings per share, for the six months ended June. This is from the previous comparable period. The company&#8217;s earnings were supported by strong metal prices and growth in the business. Royal Bafokeng Platinum CEO, Steve Phiri joins CNBC Africa for more.</p>


Royal Bafokeng Platinum delivers 466% jump in H1 HEPS

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<p>The buy now pay later online shopping model is adding more variety to online shopping and to the credit landscape. The trend has gained popularity in places like Europe and the US, with some big investors buying into the space. But what is the situation looking like in Africa? Payflex CEO, Paul Behrmanni joins CNBC Africa for more.</p>


How the ‘buy now pay later’ model is changing the credit landscape

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<p>It’s been rather busy in the low cost airline space in South Africa with airlines having to suspend and resume operations several times due to Covid-19 lockdown regulations. Well, new comer, Lift airlines has also has not been immune to these conditions. They resumed operations on Sunday after pausing during level 4 of the lockdown. Lift Co-Founder, Gidon Novick joins CNBC Africa for more.</p>


Lift Co-Founder

Why lockdown level 4 didn’t clip Lift’s wings?

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<p>Last week, Treasury put in a proposal to allow South Africans partial access to their pension savings in a “two-pot system”.</p>


How Treasury’s proposal on pension funds could impact retirement industry

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<p>Zambia is preparing to go to the polls next week and President Edgar Lungu has ordered the deployment of the military to quell electoral violence ahead of the votes. The race is between Lungu and Hakainde Hichilema who has been detained several times since he started contesting the top job. The Electoral Commission has banned rallies as part of measures to limit the spread of the coronavirus but that hasn&#8217;t  stopped clashes between opposing political parties. Francois Conradie, Lead Political Economist at NKC African Economics.</p>


As Zambians head to the polls

As Zambians head to the polls, here’s what’s at stake

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<p>Trade unions representing Mango have accused parent company SAA from withholding workers salaries as blackmail to get them to backtrack on a court application to place the low cost airline in business rescue. They believe SAA want Mango to be wound down to make way for competing low cost carrier, Lift, which is owned by the consortium that&#8217;s been announced as SAA&#8217;s new equity stakeholder.  Zazi Nsibanyoni-Mugambi, President of the South African Cabin Crew Association joins CNBC Africa for more.</p>


Mango unions accuse SAA of blackmail

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<p>For the past few months, China has been cracking down on Bitcoin mining &#8211; a country that has about 75 per cent of bitcoin miners. What does this mean for the crypto mining space? And does Africa have an opportunity to contribute to the crypto mining ecosystem? Marius Reitz, General Manager for Africa at Luno joins CNBC Africa for more.</p>


Thinking of becoming a bitcoin miner? Here’s what you need to know

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<p>Yesterday, Zimbabwe&#8217;s Finance Minister Mthuli Ncube presented the 2021 Mid Term Budget and Economic Review. The Government has signalled strong economic growth in 2021, despite the Covid-19 threats. The growth forecast for the year has been upgraded from 7.4 per cent to 7.8 per cent. Joining CNBC Africa to discuss the current economic situation in Zimbabwe is Batanai Matsika, Head of Research at Morgan &#038; Co joins CNBC Africa for more.</p>


Zimbabwe: Business responds to Finmin Ncube’s mid-term budget review

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<p>Sibanye-Stillwater is pushing ahead with its battery metals strategy. The miner has bought Eramet&#8217;s Sandouville plant in France for $77 million. This marks Sibanye Stilwater&#8217;s second acquisition in the battery metals sector as it looks to capitalize on the global push for green technologies. James Wellsted, Senior Vice President for Investor Relations at Sibanye Stillwater joins CNBC Africa for more.</p>


Sibanye-Stillwater buys French Eramet’s Sandouville plant for $77mn

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<p>The Chemical Industries Training Authority has invested over R1.5 million in South African co-operatives this year. The organistion believes co-operatives have an important role to play in driving socio-economic development in the country and the chemicals sector. CHIETA CEO, Yershen Pillay joins CNBC Africa for more.</p>


CHIETA commits R1.5mn to support rural co-operatives in KwaZulu-Natal

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<p>The South African Human Rights Commission (SAHRC) has launched an investigation into employers forcing workers to be vaccinated, or else. Legal Consultant, Tony Healy joins CNBC Africa for more.</p>


Mandatory COVID-19 vaccination for workers: Here’s what you need to know

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<p>Anglo American has beat expectations, reporting a 262 per cent year-on-year jump in underlying Earnings Before Interest, Taxes, Depreciation, and Amortization.</p>


‘A milestone but not the best we can be’ – Anglo American CEO on record half-year earnings

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<p>MIC Khulisani Ventures, a R150 million early-stage investment vehicle targeting black-owned innovative, high growth businesses in South Africa. Mary Bomela, CEO of the Mineworkers Investment Company joins CNBC Africa for more.</p>


South Africa

Moody’s expects South Africa’s inflation to hit 8% in 2022

South Africa may be entering fifth COVID wave – health minister

Numsa threatens industrial action in steel and engineering sector

Majority of Africa’s C-suite executives optimistic about growth outlook, survey finds

Royal Bafokeng Platinum delivers 466% jump in H1 HEPS

How the ‘buy now pay later’ model is changing the credit landscape

Why lockdown level 4 didn’t clip Lift’s wings?

How Treasury’s proposal on pension funds could impact retirement industry

As Zambians head to the polls, here’s what’s at stake

Mango unions accuse SAA of blackmail

Thinking of becoming a bitcoin miner? Here’s what you need to know

Zimbabwe: Business responds to Finmin Ncube’s mid-term budget review

Sibanye-Stillwater buys French Eramet’s Sandouville plant for $77mn

CHIETA commits R1.5mn to support rural co-operatives in KwaZulu-Natal

Mandatory COVID-19 vaccination for workers: Here’s what you need to know

‘A milestone but not the best we can be’ – Anglo American CEO on record half-year earnings

This investment vehicle aims to empower innovative black businesses in SA

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South Africa

Moody’s expects South Africa’s inflation to hit 8% in 2022￼

South Africa may be entering fifth COVID wave – health minister

Numsa threatens industrial action in steel and engineering sector

Majority of Africa’s C-suite executives optimistic about growth outlook, survey finds

Royal Bafokeng Platinum delivers 466% jump in H1 HEPS

How the ‘buy now pay later’ model is changing the credit landscape

Why lockdown level 4 didn’t clip Lift’s wings?

How Treasury’s proposal on pension funds could impact retirement industry

As Zambians head to the polls, here’s what’s at stake

Mango unions accuse SAA of blackmail

Thinking of becoming a bitcoin miner? Here’s what you need to know

Zimbabwe: Business responds to Finmin Ncube’s mid-term budget review

Sibanye-Stillwater buys French Eramet’s Sandouville plant for $77mn

CHIETA commits R1.5mn to support rural co-operatives in KwaZulu-Natal

Mandatory COVID-19 vaccination for workers: Here’s what you need to know

‘A milestone but not the best we can be’ – Anglo American CEO on record half-year earnings

This investment vehicle aims to empower innovative black businesses in SA

News Tips

Advertise With Us

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Moody’s expects South Africa’s inflation to hit 8% in 2022