Liabo Setho

South Africa

Senior Economics Reporter at South African Broadcasting Corporation (SABC)

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Articles

Municipalities underspend on infrastructure in 2024/5: Treasury

3 weeks ago | sabcnews.com | Tshepo Mongoai |Liabo Setho

National Treasury’s Q2 report for 2024/25 reveals that municipalities underspent on conditional grants and capital projects. These funds were meant for infrastructure development and emergency disaster repairs. The grants were allocated for programmes to support the development of infrastructure and fund emergency repairs after unforeseen disasters. This also includes funding the implementation of electrification projects, funding the upgrade of informal settlements among others.
'Coal will remain part of the energy mix of the country'

2 months ago | sabcnews.com | Liabo Setho

Coal will remain powerful and a part of the energy mix of the country. This is the proclamation of the inaugural chairperson of the newly launched future coal Southern Africa, Mike Teke. Future coal global alliance represents coal participants across the value chain. Teke says the Southern African chapter will revive the story of coal and intends to lead the conversation during South Africa’s G20 meetings. The Southern Africa chapter so far has 13 members from the region.
Businesses urged to adapt to new Companies Amendment Act

Jan 18, 2025 | sabcnews.com | Liabo Setho

Legal experts have advised companies to adapt to the Companies Amendment Act, which was signed into law late last year. Cliffe Dekker Hofmeyr hosted a webinar earlier this week to explain the new amendments. The Act focuses on the ease of doing business by clarifying, simplifying and strengthening certain sections of the law. Operational provisions include sections 16, 25, 135 and 204 which companies can now implement.
'Nersa unlikely to grant Eskom the full tariff it has applied for'

Sep 25, 2024 | sabcnews.com | Liabo Setho

Energy analyst Ruse Moleshe says the National Energy Regulator is unlikely to grant Eskom the full tariff it has applied for. But she says consumers are in trouble with yet another tariff increase in the pipeline. This is in response to NERSA formally publishing Eskom’s much-anticipated and much-criticized allowable revenue application for the coming three years.
Treasury notes Fitch's affirmation of SA's BB- debt rating

Sep 14, 2024 | sabcnews.com | Liabo Setho

The National Treasury says it has noted rating agency Fitch’s decision to affirm the country’s long-term foreign and local currency debt ratings at ‘BB-‘ with a stable outlook. The ‘BB’ ratings indicate an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions over time. However, it says the ratings are supported by a favourable debt structure and a credible monetary policy framework.
Land Bank concludes debt restructuring solution

Sep 9, 2024 | sabcnews.com | Liabo Setho

The Land Bank says work is already under way to win back its good quality customers who left the bank after it halted lending due to defaulting on a R 40-billion debt in 2020. The bank announced earlier today that it has concluded a landmark debt restructuring solution with all its lenders. The debt restructuring solution will take effect on 16 September 2024, effectively ending Land Bank’s debt default position.
Financial stress eases for South African workers: Study

Jul 28, 2024 | sabcnews.com | Liabo Setho

The latest Old Mutual Savings and Investment Monitor shows that financial stress among working South Africans has significantly decreased. According to the monitor, stress dropped from 58% in 2020 to a reassuring 37% in 2024. Even more reassuring, is that more South Africans are optimistic that their financial situation will improve in the next six months. But, it found that women remain challenged as they recover from the effects of the COVID-19 pandemic.
Consumer inflation for May steady at 5.2%, in line with forecasts

Jun 19, 2024 | sabcnews.com | Liabo Setho

Reading Time: 2 minutesSouth Africa’s consumer inflation for May remained unchanged at 5.2% year on year. That was in line with analysts’ forecasts. The Consumer Price Index also reflects a welcome softening in food inflation. The latest print comes after two consecutive months of declines but remains above the central bank’s preferred target of 4.5%. The rates for four of the twelve product groups remained steady between April and May.
Eskom GCEO Marokane shares progress after 100 days in office

Jun 14, 2024 | sabcnews.com | Liabo Setho

Reading Time: 3 minutesEskom is improving in addressing business challenges and repositioning the utility for growth and sustainability. That’s the view of its Group Chief Executive Dan Marokane, who shared the progress after his first 100 days in office. He says the first 100 days have been focused on assessing the effectiveness of the Generation Operational Recovery Plan, reviewing the progress on the unbundling of its units and engaging with stakeholders.
Ackerman family to relinquish majority voting control in PnP

May 27, 2024 | sabcnews.com | Liabo Setho

Reading Time: 3 minutesInvestors have shrugged off Pick and Pay’s disappointing full-year results and rather focused on the group’s key plans to turn the business around. Earlier on Monday, the retailer announced a trading loss of 87% for the year ended 25 February 2024. Pick ‘n Pay also announced that the founding Ackerman family would be relinquishing their majority voting control in the business.