Doing business south africa news
Here are some recent news articles related to doing business in South Africa:
Economic News
- South Africa's economy contracts by 0.7% in Q1 2023: The South African Reserve Bank (SARB) has announced that the country's economy contracted by 0.7% in the first quarter of 2023, citing a decline in agricultural production and a slowdown in manufacturing. (Source: Business Day)
- SA's GDP growth forecast revised downwards: The International Monetary Fund (IMF) has revised its forecast for South Africa's GDP growth downwards, citing a decline in investment and a slowdown in global trade. (Source: Fin24)
- SA's unemployment rate rises to 32.6%: The South African Reserve Bank (SARB) has announced that the country's unemployment rate has risen to 32.6%, citing a decline in employment in the manufacturing and construction sectors. (Source: News24)
Business and Industry News
- MTN launches 5G network in SA: MTN has launched its 5G network in South Africa, offering customers faster data speeds and lower latency. (Source: ITWeb)
- Shoprite to exit Nigeria: Shoprite, a South African retail chain, has announced that it will be exiting the Nigerian market due to declining sales and profitability. (Source: Business Day)
- SA's automotive industry faces challenges: The South African automotive industry is facing challenges due to a decline in global demand, a shortage of skilled workers, and a lack of investment in new technologies. (Source: Engineering News)
Investment and Trade News
- SA and China sign trade agreement: South Africa and China have signed a trade agreement aimed at increasing trade between the two countries and promoting investment in key sectors such as manufacturing and infrastructure. (Source: SAnews.gov.za)
- US investors eye SA's renewable energy sector: A group of US investors has expressed interest in investing in South Africa's renewable energy sector, citing the country's abundant solar and wind resources. (Source: Engineering News)
- SA's mining industry faces challenges: The South African mining industry is facing challenges due to a decline in global demand, a shortage of skilled workers, and a lack of investment in new technologies. (Source: Mining Weekly)
Regulatory News
- SA's Companies Act to be amended: The South African government has announced plans to amend the Companies Act to improve corporate governance and increase transparency in the corporate sector. (Source: Business Day)
- SA's tax laws to be simplified: The South African government has announced plans to simplify the country's tax laws and reduce the tax burden on small businesses. (Source: Fin24)
- SA's competition authorities to investigate alleged cartel activity: The South African competition authorities have launched an investigation into alleged cartel activity in the country's construction industry. (Source: Engineering News)