Stocks rose too. The South African rand firmed in afternoon trade on Tuesday as power utility Eskom suspended its latest power cuts, with market focus also fixed on U.S. inflation data due later in the week that could unleash bets on faster interest rate hikes there. At
Consumer prices rose 5.9% in December, taking the average inflation rate for 2021 to 4.5%, according to the statistics office. South African consumers are in for another difficult year, with energy and fuel prices likely to surge and the central bank and government set to remove
Which boosted optimism about the global economic recovery. The South African rand firmed on Friday along with other emerging market currencies after a volatile week with price swings driven by domestic politics and US monetary policy. At 1513 GMT, the rand traded at 15.13 against the US
The retail cost of 95-octane gasoline will climb by almost 7% to a R19.54 a liter, the Central Energy Fund said in a statement on its website. South Africa’s gasoline prices are set to rise to a record on Wednesday, adding to inflationary pressures in an
A key milestone for the Elon Musk-led carmaker whose shares have been on a tear amid a global shift to electric vehicles. Tesla joined an elite group of companies with market values of at least $1 trillion on Monday, a key milestone for the Elon Musk-led
The association expects a litre of petrol to cost consumers as much as R20 by the end of 2021. The Automobile Association (AA) on Tuesday warned that the country’s drivers could see a ridiculous surge in fuel prices by the of the year, starting at the
The first deal in a United Nations program to fund green energy in Africa. Pacific Investment Management Co. has agreed to lend a South African state development bank R3-billion ($210 million), the first deal in a United Nations program to fund green energy in Africa. The debt
The currency declined for a second day on Monday to its weakest level in more than a month. The rand is taking a bigger hit than most of its emerging-market peers as an energy crisis and Chinese growth concerns batter the South African currency and worsen