South African Market Insights
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Every time there is an announcement on the latest fuel prices, government officials are always quick to point to higher oil prices as driver of fuel price increases. The sad reality is over time oil has remained relatively flat while taxes on fuel has increased and the exchange rate weakened a lot. So the main driver is the weak exchange rate (and that is a reflection of a poorly run country and economy).
So rising fuel prices is mainly due to poor or non implementation of pro economic growth policies by the government of South Africa
So rising fuel prices is mainly due to poor or non implementation of pro economic growth policies by the government of South Africa
South Africa's inflation rate conitinues to rise, putting more and more pressure on out of pocket consumers and providing more ammunitation to the South African Reserve Bank (SARB,) who is hell bent to fight inflation with interest rates to raise interest rates again, even though none of the current drivers of inflation will be slowed down by raising interest rates.
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We take a look at banking sector data released by the South African Reserve Bank which shows that South African banks are really struggling compared to a year ago. And all of this was brought upon by the Covid-19 pandemic that has gripped the country since March 2020. Impaired advances increased by over 40% over the last 12 months, or by over R65 billion when stated in Rand value.
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We take a look at the latest mid year population estimates released by Statistics South Africa that showed that its currently estimated that South Africa has 59.62 million people living in the country with the most populous province being the smallest province, Gauteng with 15.5 million people currently living in Gauteng
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We take a look at the latest JSE All Share Index PE ratio, for April 2020 as calculated based on data released by the operator of the stock market, the JSE. The PE ratio of the All Share index declined sharply in March 2020 but made a speedy recovery in April 2020 as markets increased strongly during April 2020
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We take a look at the latest JSE All Share Index PE ratio, for March 2020 as calculated based on data released by the operator of the stock market, the JSE. The PE ratio of the All Share index declined sharply compared to the previous month largely driven by the massive market declines due fears around the spread of the Coronavirus and the impact it will have on global growth.
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We take a look at the latest quarterly employment statistics (QES) data published by Statistics South Africa and we focus on the number of people employed in the formal, non agricultural sector and the average gross monthly earnings of those formally employed in South Africa as at the end of December 2019.
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