Other Ford Models Go Up In Flames

Owners of other Ford models which are not part of the recall announced this week have joined a class action against the manufacturer alleging their cars have also caught fire. Yesterday a Ford Figo caught fire outside Nelspruit Mediclinic while others have claimed that different variants of the Kuga including the 2.5l Kuga and the newly manufactured 1.5l EcoBoost are also catching fire. Im definitely not buying a ford anytime soon.

Still No Sassa Plan On Grant Payments

Just weeks before the scheduled handover of the social grants payment system to the South African Social Security Agency (SASSA)‚ SASSA has suddenly started looking for possible partners. South Africa’s 17 million social grants are currently paid over monthly from the National Treasury by Cash Paymaster Services‚ part of listed company Net1. But in terms of a commitment to the Constitutional Court in 2015‚ SASSA itself is due to take over payments from the end of March.

Inflation Rises Beyond Expectations

December’s inflation of 6.8% was above market expectations of 6.6%, according to analysts. Food prices rose dramatically from 4.9% in 2015 to close to 12% in 2016. Food prices in December rose by 0.8%, mostly owing to the rise in meat, vegetable and fruit prices. Meat price increases were particularly high at 7.4%.

Black Friday Was Brilliant For Retailers

Black Friday helped provide a surprise boost to November retail sales, which grew an unexpected 3.8% year on year. Black Friday helped lift retail sales by 3.5% from October to November. Economists had predicted a 0.4% contraction. Positive contributors were general dealers, which recorded a 4.7% rise in sales and hardware, and pharma retailers expanded, documenting sales growth of 5.4% and 4.9% respectively. However, food and beverage sales moderated to 2.7%, from 5.1% in October.

Gambia’s Jammeh Still Refuses To Go

Gambia’s National Assembly has passed a resolution to allow President Yahya Jammeh, who lost an election in December, to stay in office for three months from Wednesday when he was due to leave power. In the meantime, West African leaders have met to discuss a way forward as the deadline for Jammeh to step down has passed. Senegal also threatened that their army will cross the border and force Jammeh out of power.

Currencies & Stuff

Oil 54.43 – Rand/USD 13.57 – Rand/GBP 16.62 – Rand/EUR 14.43

Author: The Turk Report

Simplifying complex money matters

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