Economy / General

Households are R253bn poorer in Q3 thanks to rising interest rates

According to the Momentum/Unisa South African Household Wealth Index for the third quarter of 2022, the value of South African household wealth decreased by around R1.528 trillion since the first quarter of the year (Q1 2022) to R15.5 trillion. Households have lost an estimated R253bn in Q3 2022 following the decline of R1.275 trillion in Q2 2022.

Medium-Term Budget offer hope for many South Africans

South Africa’s export increase 10% m/m, resulting in trade surplus of R19,7 billion

South Africa’s trade surplus increased to R19.7bn in September 2022 compared to the surplus of R6.2bn recorded in August 2022. The surplus was well above the R6.2bn surplus the market expected. The larger surplus was the result of a sizeable increase in exports of 10% month-on-month and a small increase of 2.3% in imports compared to the previous month.

MTBPS: AIIM welcomes plans for increased private sector participation to fast-track infrastructure projects

The private sector is ready to assist government with investment solutions that can unlock at least three of the structural impediments hampering economic growth as identified by Finance Minister Enoch Godongwana in his Medium-Term Budget Policy Statement recently. The specific impediments are unstable electricity supply; costly and inefficient ports and rail networks; and weak state capacity.