Tag: unemployment

MultiChoice Group (MCG), Africa’s leading entertainment company, returned its Rest of Africa business to profitability and further expanded its consumer services ecosystem during the year ended 31 March 2023 (FY23).

Determining the true market value of a home is about more than design, amenities, kerb appeal, location and size. While those are of course important elements of home valuations, they only paint half the picture for buyers and sellers looking to enter into property transactions.

When we think about the human right to education, we often think about it as relating to children. We imagine children starting their school career at a young age and being supported as they progress through the years. Ultimately emerging from the system as young adults who have the capacity either to study further or to find employment. This is their right. It’s enshrined in the constitution.

As the two countries implement reforms, the local situation is unlikely to spiral out of control as it did in France. In October 2010 there were massive strikes across France against pension reform. Activist Jean-Baptiste Reddé’s slogan “Ecoutez la colère du people" (Listen to the people’s rage) became world famous as the symbol that epitomised public sentiment.  

Estimated Tax Freedom Day (TFD) – the day after the country has earned enough money to pay for government – will be on May 14 this year. That is 2 days later than last year’s prediction. The prediction is based on the intended level of tax collection for central government mentioned in the Budget Speech.

As South Africa’s electricity crisis worsens, accompanied by increased interest rates, food and petrol prices, the country's potential to enter a recession rises exponentially. As most economists have noted, South Africa presently falls short on both micro and macroeconomic benchmarks, from exports and imports to infrastructure development and ballooning interest rates.

2023 is poised to be a year of accelerated change in and for South Africa. As the country heads toward a general election in 2024, a sea-change is on the cards. The African National Congress (ANC) are by all accounts on the point of obtaining below 50% at the voting booth; some estimates have the party even under 45%.

New National Minimum Wage (NMW) hourly rates, which will have a significant impact on labour-intensive industries, were published by the Minister of Employment on 21 February 2023, in line with section 6(5) of the National Minimum Wage Act. They will take effect from 1 March 2023.

South Africa is in the eye of a slow-building economic storm: junk status, political upheaval, civil unrest, spiralling unemployment, state capture and the fallout from COVID-19. There is no better time to assess the impact of one of the biggest economic experiments in Africa that began a quarter of a century ago: black economic empowerment, or BEE, the legislation-backed effort to transfer wealth to black people and to facilitate their broader participation in the economy to redress the inequalities created by apartheid.

After a long, hard year, many of us look forward to charging full steam into the festive season; spending and spoiling ourselves and our loved ones with abandon. And when it comes time to deal with the consequences of our financial decisions…well, isn’t that what January is for?