Government’s push to water down the constitutional protection for property rights in South Africa by amending the Constitution should shock everyone of whatever race or socio-economic background. Every South African who owns property will be in jeopardy if the vital check of compensation is repealed.
With a unanimous decision, members of the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) voted on 17 January to keep interest rates unchanged, in line with analyst expectations. This follows an interest rate hike of 25 basis points (bps) in November 2018, which brought the repo and prime lending rates to 6.75% and 10.25%, respectively.
Members of the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) meet from 15 to 17 January to decide a suitable interest rate stance that sees inflation settle in the middle of the 3% – 6% target range.
‘Twas the week before Christmas after a year that was despairingly tough, When load-shedding made a comeback as plant maintenance hadn’t been enough. Our confidence was lifted high when the party finally recalled Zuma. But we still hit a recession and wished 'Ramaphoria' had started sooner.
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Industry grinds to a halt. Traffic stands gridlocked. Lights in dangerous areas go out. People sit in the dark. Whereas Christmas should usher in a time of jovial spirit, this December once again brings in load-shedding for South Africans.
Africa is one of the fastest urbanising regions in the world – and it is widely accepted that the rapid urbanisation of its burgeoning big cities will play a vital role in the continent’s continued growth and development.