It is Budget time!

The Finance Minister, Tito Mboweni, will on Wednesday afternoon deliver the most important budget speech in the history of South Africa. The economy is dead and little has been done to revive it. Eskom has failed, as have many other State Owned Enterprises. The big question is: How will Eskom be bailed out? Moody's will … Continue reading It is Budget time!

Rand weakens passed R14/USD

The Rand gave up acres of ground over the course of the last two days as loadshedding returned to haunt the South African economy. The economy, already in the doldrums, could hardly afford another round of loadshedding. The ratings agency Moodys will have taken note of the situation and may well change our outlook from … Continue reading Rand weakens passed R14/USD