Is it too late to turn this ship around? That’s the big question on every South African’s lips this week.
South Africa’s economic woes look as if they’re here to stay – for a while, at least.
Ratings downgrades are again threatening the economy, the rand is expected to weaken against the dollar and inflation is set to rise – all factors adding to the already cumbersome economic pressure being felt by businesses and consumers alike.
Add to that a record-high unemployment rate, which is predicted to worsen next year, and I think we can all agree that the economic outlook, as it stands, is fairly grim.
That being said, it’s definitely not too late to turn this ship around, but it’s going to take a renewed level of commitment and cooperation from all sectors and economic stakeholders.
Calls for failed BEE deals to be probed:
There needs to be an investigation into economic empowerment deals that appear legit on paper, but bear no benefits for black partners
Chicken group Astral Foods feels the heat:
The shock waves of a Constitutional Court ruling on the so-called deeming clause in the Labour Relations Act have hit chicken group Astral Foods, which outsources much of its staff to a labour broker paying just workers just R12.33 an hour – less than R2 500 a month.