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October saw a higher number of payment system transactions under R5 million than those recorded in September, according to the BankservAfrica Economic Transaction Index (BETI) which measures these transactions.
The FAO Food price index(1) registered the largest monthly fall in seven years in August. The index fell by 5.2%, the largest decline since December 2008. Admittedly raw materials have declined over the last 10 months, but the FAO index has not reached such a low level since March 2007.
While we all like to remain positive and approach life with an optimistic outlook, it is sometimes difficult. And there is no easy way to say what I am about to say: South Africa is in an economic slump and we are going to feel the effects.
Global economic developments.
The strongest deterrent against FSP compliance missteps is or should be: