Naledi Ngcobo

South Africa

Specialist Radio Reporter at SABC News

SABC Specialist Reporter (Economics) 📻🇿🇦 Financial Journalist. Wits and GIBS alumni

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Articles

Reserve Bank's work in G20 includes climate funding: Deputy Governor

2 weeks ago | sabcnews.com | Naledi Ngcobo

Reserve Bank Deputy Governor and CEO of the Prudential Authority, Fundi Tshazibana says part of the central bank’s work in the G20 plans will be focused on the funding of climate change adaptation efforts. Participating in a fireside chat at Stellenbosch University, Tshazibana says there might be space for blended financing from both the private and public sector in dealing with climate change adaptation requirements.
Business Confidence drops in 2nd quarter

2 weeks ago | sabcnews.com | Naledi Ngcobo

The Business Confidence Index (BCI) produced by Rand Merchant Bank and the Bureau for Economic Research has declined by five points to reach 40-points in the second quarter of 2025. This implies that only four out of 10 business respondents in the most cyclically sensitive sectors of the economy were satisfied with prevailing business conditions. Respondents flagged ongoing global trade uncertainty and persistent local logistical challenges as key drags on business prospects.
Stats SA reports marginal economic growth of 0.1% in first quarter

2 weeks ago | sabcnews.com | Naledi Ngcobo

South Africa’s economy had a marginal 0.1% growth in the first quarter of this year. This follows a downwardly revised increase of 0.4% in the fourth quarter of 2024. Statistics South Africa’s newly released data shows that contributions to the growth came from agriculture, forestry and fishing, transport, storage and communication. The finance, real estate and business services industries have also been mentioned. Gross Domestic Growth was recorded at 0.8% on an annual basis.
Lower inflation target offers relief to indebted consumers: Kganyago

3 weeks ago | sabcnews.com | Naledi Ngcobo

Reserve Bank Governor Lesetja Kanyago says a lower inflation target will offer relief to indebted consumers by lowering their repayments on loans, while also supporting economic growth and job creation. Kganyago says a lower inflation target will bring about structurally lower interest rates and keep them fixed at a low level. Yesterday, the Monetary Policy Committee announced a cut in the interest rate by 25 basis points, and as a result, the repo rate has been decreased to 7.25%.
Tax Ombud reports an increase e-Filling profiles hijacking

3 weeks ago | sabcnews.com | Naledi Ngcobo

The Office of the Tax Ombud has revealed that incidents of hijacking e-filing profiles are on the rise. During an online release of the report’s preliminary findings on Wednesday, the Tax Ombud Yanga Mputa pointed out that the highest level of e-Filing Profile Hijacking occurs among registered tax practitioners.
SAFTU condemns Treasury's proposed fuel levy increase

3 weeks ago | sabcnews.com | Naledi Ngcobo

SAFTU General-Secretary Zwelinzima Vavi says consumers should not bear the brunt of steep taxes while corporates enjoy huge profits without adequate contribution to the developmental agenda. He has also condemned the National Treasury’s proposed fuel levy increase. Finance Minister Enoch Godongwana announced the proposed levy in the budget that he tabled a week ago. Vavi says it will further burden struggling workers.
Treasury identifies over R300 bln in wasteful programmes

1 month ago | sabcnews.com | Naledi Ngcobo

National Treasury and provincial treasuries have identified over R312-billion in wasteful spending on non-performing programmes since 2013. Government spending is estimated to reach nearly R2.6 trillion in the 2025-26 financial year with social services accounting for more than half of spending. Government says a cut in spending on non-performing programmes will override the need for higher taxes going forward.
CEF hands over assets, R5 bln to new petroleum company

1 month ago | sabcnews.com | Naledi Ngcobo

The Central Energy Fund (CEF) has handed over leased assets and R5 billion in funding to operationalize the newly established South African National Petroleum Company (SANPC). Three of the CEF Group subsidiaries including iGas, the Strategic Fuel Fund and PetroSA have been merged to form the SANPC in a process which began in 2020.
Unemployment rises to 32.9% in first quarter of 2025

1 month ago | sabcnews.com | Naledi Ngcobo

South Africa’s official unemployment rate increased by one percentage point to 32.9% in the first quarter of 2025. This is according to data released by Statistics South Africa (Stats SA). The data shows an increase of 237 000 in the number of unemployed people, bringing the total to 8.2 million. The expanded unemployment rate, which includes discouraged work-seekers, also rose by 1.2 percentage points to 43.1% in the same period.
Gauteng underspends by R1.8 billion in 2024/25 financial year

1 month ago | sabcnews.com | Naledi Ngcobo

The Gauteng Provincial Government has reported an underspending of R1.8 billion at the end of the 2024/25 financial year. The Departments of Health and Education accounted for 58% of the unspent funds, with the remaining 42% spread across other departments. Gauteng Finance MEC Lebogang Maile says that of the total underspending, more than R380 million came from conditional grants allocated by the national government, while R1.4 billion was from the Provincial Equitable Share.