SA Economy News

Property news in South Africa

In a recent article by Dr Andrew Golding, it is evident that Cape Town’s property market outperforms the rest of South Africa. saCape Town’s coastline and mountains act as a major constraint on the city’s ability to expand, which goes some way towards explaining the out performance of the Cape housing market.

A City of golden opportunities for investors – Cllr Herman Mashaba address at AmCham

Our colleague, Hans Kroll, attended yesterdays breakfast at the American Chamber in Johannesburg where the new mayor Herman Mashaba of Johannesburg held an impressive speech. As Hans had the great pleasure to hear the address alone so far, we did not want to keep this great future oriented speech for ourselves and therefore we are sharing this with you : picture credit: Executive Mayor, Cllr Herman Mashaba Address to the American Chamber of Business 4 October 2016   A City of golden opportunities for investors Good morning ladies and gentlemen, I am honoured to be with all of you this morning. Thank you to the American Chamber of Commerce for extending me an invite to speak at this breakfast. Last month I was delighted to meet with US Ambassador to South Africa, Patrick Gaspard at my office. It provided the two of us with an opening to discuss current US investments in our City and for me to also expand on my vision for this City. While it was a courtesy call, it also afforded me the opportunity recommit the City of Joburg to maintaining close ties with the US, and indeed my intention to foster stronger ties and create an environment for increased foreign investment in our City. I was very pleased by Ambassador Gaspard’s positive outlook on South African democracy following the local government elections. […]

October 5th, 2016|Categories: SA Economy News, SA Politics, Social life / others|Tags: , , |

President Zuma and the Crisis State of the Nation

“We must continue to market the country as a preferred destination for investments.” In his State of the Nation Address 2016, President Zuma did not only give an overview on his administration’s past policies, but also on his plans to pave the way for South Africa to return to economical prosperity in the future. Hence, the speech bears importance to all foreign nationals willing to invest or do business in South Africa, which can hardly be underestimated. picture source: “If there are any disagreements or problems between us, we should solve them before they escalate.” Nevertheless, the address was embedded in turmoil when members of the EFF and other members of the opposition repeatedly interrupted the delivery of his speech and eventually walked out on Zuma in protest. This is due to the fact that Zuma faces a variety of allegations of which some even stem from a time before he took office as President of South Africa in 2009. The most recent accusation in that long list questions his very competence as President and casts a shadow on his ability to bring stability to the country: […]

February 18th, 2016|Categories: SA Economy News, SA Politics|Tags: , , , , , |

New Development Bank (NDB) – BRICS Bank

At a meeting held in Shanghai on the 21st July 2015, officials from the world’s largest emerging nations launched the New Development Bank, NDB, also known as the BRICS Bank. picture source: The NDB is the second of two new policy banks heavily backed by China, which are to be alternatives to existing institutions such as the World Bank. The NDB or BRICS Bank follows soon after the establishment of the also China-led Asian Investment Infrastructure Bank (AIIB). The new bank aims on funding infrastructure and development projects in the BRICS countries – Brazil, Russia, India, China and South Africa. Disagreements over the bank’s funding, management and headquarters had slowed it launch, which was proposed in 2012 and concluded in 2015. […]

August 25th, 2015|Categories: Legal Development, SA Economy News|Tags: , , , , , , , , |

New immigration laws affecting tourism sector in South Africa

As if the chronic electricity shortage in South Africa has not done enough damage to the tourism sector in South Africa, the new immigration laws had to heighten the situation. Electricity pylons. File photo. Image by: © Mike Hutchings / Reuters / REUTERS For a country with a highly diverse climate, culture, infrastructure and tourist attractions, the new stringent immigration laws which have affected the tourism sector in South Africa, was rather a huge disappointment. These laws make it extremely difficult for foreigners who desire to be a part of this multi-racial, lingual and cultural society. When the ministry of Home Affairs sat to implement these laws, it was oblivious of the fact that having foreigners come to our country is not a one way street but a two way street as they also get to bring in their hard cash which to be quite frank we need taking into account the depreciating value of the rand. […]

August 19th, 2015|Categories: Immigration, SA Economy News|Tags: , , , |

South African restaurants take over Britain

More and more South African restaurants are trying their luck in international markets, specifically London, where its ‘cosmopolitan kaleidoscope’ layout and highly diverse restaurant scene attracts consumers from all around the world, according to CNN. “Its high streets play like a round-the-world pit stop of cuisines, and increasing woven among them are African restaurants,” CNN said in a statement. picture source: Washington Kapapiro, chairperson of the Association for African Owned Enterprises believes in the idea of successful African food brands in the UK: “For me what’s most exciting is the growth of what we call African food. People are starting to identify with that brand.” With that brand comes opportunity for chains on the continent to expand overseas, and London is seen as the golden ticket. Director of Spur UK Mr David Maich was recently quoted as saying: “All brands across the world are testing their models in London. If it works here, it will work anywhere”. Nando’s, the popular restaurant chain combining Portuguese and South African roots at an affordable family rate, created in South Africa in 1987, with its first opening in 1992 in the UK, seems to be leading the charge. 23 years later it is now one of the more successful restaurants in the UK, with almost 400 branches. […]

July 3rd, 2015|Categories: SA Economy News|Tags: , , , , , , , , |