Africa Economy News Updates 2020

91 Latest Africa Economy news updates.
Find List of Africa Economy Trends 2020 from various News Websites / Blog / Articles
 
Tax collection warning as South africa's economy likely to continue to struggle

The economic outlook for the second half of 2020 is not looking positive which is likely to have an impact on investors.

sep 24 2020 6:15pm
business News : Finance
Good ideas are not conjured on video calls [Sponsored]

While the overnight shift to having teams work from home has been a surprisingly simple one to make for many companies, there are plenty of industries that simply cannot function with a distributed workforce. That said, some companies have found that theres still a need for certain teams to congregate safely to share ideas which only flourish in the presence of chemistry thats impossible to conjure on a video call. It takes one person to have a great idea, but it takes a team to realise and implement it. Safe co-working spaces Co-working spaces offer the flexibility to meet smaller teams needs for on-demand facilities which are well-equipped, access-controlled, and, above all, safe and sanitised. At the Absa WorkInProgress space, were finding that, by carefully managing access to and use of our facilities, were still able to help technology start-ups, innovators and original thinkers connect, unlock potential, create and grow solutions which are going to play a vital role in sustaining and revitalising the South african economy. Our process started by training our team in COVID-19 awareness from an accredited company and then having the entire facility sanitised, right down to having air conditioning unit filters, cleaned. We implemented strict sanitising measures from the basement, all the way up to our top floor and within the working space, itself and placed stickers to demarcate appropriate physical distancing spaces. To help us ensure that the spaces remain sanitised, we have had to adjust our operating hours to give teams the chance to clean thoroughly before and after hours, and also closed the space on weekends. When we resumed operations, both teams and guests had to complete a risk assessment questionnaire 48 hours prior to them visiting the premises, and they were only granted access if they passed the assessment. Everyone is then temperature screened on arrival and physical distancing is policed by our team, with a cap on the number of people in the space at any given time helping us maintain safe operations. Masks are, of course, mandatory, and dedicated seating spaces are allocated to help maintain physical distancing and to allow us to keep track of movement. The typically more congregational spaces of any shared environment are the meeting rooms, kitchen, and restrooms. Sufficient sanitizer and disinfectant wipes are provided for the cleaning of all touchpoints and teams are reminded about the number of people allowed in restrooms at any given time. If all these things sound normal, then good. This is the new normal. Absa WIP is about creating nurturing spaces where ideas can thrive. Now we also work to make those spaces safer than ever, because our economy needs those ideas more than ever.

sep 23 2020 8:50pm
newsarticle News : Startups
5 important things happening in South africa today

Critics say calls for new taxes on South african motorists are laughable; the SARB's business cycle indicator shows South africa's economy is on the mend; eyes on the Free State as testimony at the Zondo Commission uncovers millions lost to corruption; and the Vaal River Integrated System is being flooded with raw sewage - and it will take years to fix.

sep 23 2020 12:23pm
business News : Finance
SA GDP could grow by 45.2% in the third quarter

South africa's economy could expand by an annualized 45.2% in the third quarter, according to central bank forecasts.

sep 19 2020 10:44pm
business News : Finance
South african economy to shrink by more than government's 7% forecast in 2020 - Mboweni

South africa's economy will likely contract this year by more than the 7% previously forecast by the Treasury, Finance Minister Tito Mboweni said in an opinion piece published on Sunday.

sep 18 2020 7:06am
business News : Mixed
New grant programme launches for SA small businesses

Globally popular and widely used social media platform, Facebook has launched a grant programme to provide funding for over 200 eligible South african small businesses. The funding provided will help financially support small businesses after taking a hard knockdown due to the impacts of lockdown and Covid-19, providing a much-needed financial lifeline. The grant, valued at over R8.5-million will be used to support 217 local small businesses. This grant programme forms as part of Facebook's $100-million Global Grants Programme which was announced earlier this year. The most recent State of Small Business Report , published by Facebook in partnership with the OECD and the World Bank revealed that many small businesses faced numerous challenges due to the Covid-19 pandemic. It revealed that 44% of small businesses in South africa were concerned about their financial viability and cash flow over the next few months. Nunu Ntshingila, Regional Director, Facebook africa explains that there is a dire need to financially support small businesses as they play an integral in stimulating the local economy and providing employment opportunities for South africans. We know small businesses are the engines of the South african economy, the COVID-19 pandemic has extended beyond a public health crisis to an economic emergency, with these small businesses most affected. Were listening to the challenges these small business owners are facing right now and want to provide useful resources for them during this difficult and uncertain year The Global Grants Programme aims to support 30 000 small businesses in over 30 countries across the globe and is aimed at stimulating economic recovering following the devastating effects of Covid-19. The grants will be managed and administered by Deloitte South africa. Provided as a combination of cash and ad credits, the grants aim to assist small businesses in their rebuilding, re-engineering, and recovery operations. How can small businesses apply for funding Small business owners are encouraged to apply for the funding and will undergo an eligibility selection process. Eligibility criteria In order to be eligible to apply for the grant programme, small businesses must meet the below requirements: Have between 2 and 50 employees Have been in business for over a year Have experienced challenges due to Covid-19 Be in or near a location where Facebook operates Applications will be open from 27 August and will close on 5 September 2020 at 6pm. Businesses can apply here . More information about the programme can be found here. Free digitalisation training for small businesses Facebook has also launched a series of free webinars that offer training in digitalisation and improving social connection infrastructure as more consumers are moving to online purchasing. Titled, 'Boost with Facebook Across South africa', small business owners are encouraged to attend these webinars as it will cover a range of topics from businesses resilience, how to take your business online, and more.

sep 16 2020 9:17pm
newsarticle News : Crowdfunding
Bidvest warns of retrenchments amid 'extraordinary levels of uncertainty' in South africa

The Bidvest Group said it delivered a credible financial performance for its full year ended June 2020, despite the headwinds presented by an already constrained South african economy pre-Covid-19 and the pandemic's severe impact on the final quarter.

sep 14 2020 1:52pm
business News : Mixed
South africa's economy likely worse than forecast: Mboweni

Finance minister Tito Mboweni says that South africa's second-quarter contraction in GDP is larger than expected by both the National Treasury and the Reserve Bank, which raises the risk that the actual GDP outcome for 2020 could be lower than previously thought by policymakers as well as the broader market.

sep 14 2020 1:52pm
business News : Finance
5 important things happening in South africa today

South africa's economy may do worse than expected this year; however, local banks have seemingly pulled through the worst of it; international travel is expected to open up soon; and the data stolen in the Experian breach shows up in more places online.

sep 14 2020 1:52pm
business News : Finance
South african economy to shrink by more than government's 7% forecast

South africa's economy will likely contract this year by more than the 7% previously forecast by the Treasury, Finance Minister Tito Mboweni said in an opinion piece published on Sunday.

sep 14 2020 10:07am
mixed News : Mixed