Zuma Attacks Treasury

According to the Business Day, President Jacob Zuma has hit out at the national treasury for frustrating the ANC’s economic transformation agenda and failing to provide enough funds so that ministers can complete scheduled projects. Zuma allegedly had made the remarks at the party’s three-day lekgotla this past week. Pravin Gordhan blocked key Zuma-backed projects.

Armyworms Attack SA Farms

South African maize farms are suffering extensive damage from what appears to be an alien caterpillar that destroyed fields in other countries in the region. Zambia, Malawi and Zimbabwe already suffered extensive damage to tens of thousands of hectares of mainly corn fields. These worms could decimate corn yields despite the good rains that we have seen.

Curro Expects 67% Profit Rise

Curro said that it expects its earnings per share and headline earnings per share for the year ended 31 December 2016 to be between 43.1 cents and 47.1 cents per share compared to the 27.8 cents and 28.3 cents respectively achieved for the prior corresponding period, being an increase of between 52% and 67%.

Sassa Asks Concourt To Allow Invalid Contract To Continue

Sassa will ask the Constitutional Court to allow it to extend a welfare distribution contract with Net 1 UEPS Technologies, which the Concourt previously ruled invalid, to be extended. While Net 1’s contract expires at the end of March, Sassa hasn’t appointed a replacement or made arrangements to take over the payments itself. Although six options, including using other banks, were considered, granting Net 1 a one-year extension was considered the only viable one. Ridiculous that Sassa has up to now, not made a plan regarding an alternative.

Vodacom Claims Data Prices Have Fallen By 15%

Vodacom says its data prices have fallen by 15.4% over the last year, according to the company’s latest trading update for the quarter ended December. “As part of our effort to continuously reduce the cost to communicate in South Africa through our bundle pricing strategy, voice and data prices fell by 17.6% and 15.4% respectively.

Ghana Finds $1.6 Billion Hole In Their Budget

Ghana’s budget deficit could be twice as big as previously forecast, Finance Minister Ken Ofori-Atta said after the government revealed a 7 billion-cedi ($1.6 billion) hole in the budget. The budget hole was disclosed by Vice President Mahamudu Bawumia, who along with President Nana Akufo-Addo arrived in office only three weeks ago after winning presidential and parliamentary elections

Currencies and Stuff

Oil 56.57 – Rand/USD 13.38 – Rand/GBP 16.91 – Rand/EUR 14.45
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Author: The Turk Report

Simplifying complex money matters

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