SA businesses turn global crises into opportunities
JOHANNESBURG - The South African Reserve Bank has kept it’s benchmark interest rate on hold for a fourth meeting.
It says it will lower interest rates only when it’s convinced inflation is under control.
In some of the bad news today the Reserve bank government said the economy would grow by 0.6% last year – compared to its previous prediction of 0.8%.
While the bank expects paltry growth of 1.2% this year with port and rail issues hampering growth.
Well PwC has warned that South African companies will continue to face pressure from global uncertainties and local issues such as rolling blackouts.
Is says the strains started to show in company profits last year.
PwC Senior Economist Christie Viljoen spoke with eNCA.