Rand drops to new record low

The rand has once again dropped to record lows against the US dollar, reaching R17,99. The rand has once again dropped to record lows against the US dollar during what’s been described as erratic trade on Asian markets, reaching R17,99 overnight. The drop happened in markets with low liquidity and the currency has since recovered … Read more

South Africa: U.S. Vaccine Project to Boost Western Cape Economy

western cape economy to be boosted by vaccine

A new public private partnership between the South African government and the Biologicals and Vaccines Institute of Southern Africa (Biovac) to manufacture life-saving vaccines for children will give a welcome boost to the Western Cape economy. Minister of Science and Technology Naledi Pandor announced that US pharmaceutical giant Pfizer and Biovac have reached an agreement … Read more

Eskom on track for a summer without load shedding

eskom light bulb

A month into Eskom’s annual summer maintenance programme and there has been no sign of load shedding, but any major power plant breakdown will change that. South Africa has been spared load shedding for over 67 days, but Eskom still sends updates, warning people that the “system is constrained but stable today, with no load … Read more

5 ways to save South Africa’s economy

The South African economy is facing an unprecedented crisis, according to the Democratic Alliance (DA), noting that predicted growth for 2015 is forecast at only 2%, while unemployment has risen steadily over the past 5 years, to 34.9%. “Almost 8.4 million South Africans do not have jobs, while two in every three of those are … Read more