While it is too early to say how Russia’s invasion of Ukraine will impact South Africa’s property market in the long term, analysts at FNB have warned that the sector is likely to be hit by the obvious short-term economic factors, such as higher inflation rates and interest rate hikes. Source: BusinessTech
The South African National Roads Agency (Sanral) has announced that it will introduce traffic measures on the N3 highway outside Pietermaritzburg earlier than expected as it begins major upgrade work. Source: BusinessTech
Traders are adding bets on an outsized interest-rate increase in South Africa later this month as the surge in the price of crude oil fuels inflation expectations. Source: BusinessTech
The City of Cape Town’s energy directorate has accepted an offer of technical assistance from the United States Agency for International Development’s (USAID) South African Energy Programme (SAEP). Source: BusinessTech
Public Works and Infrastructure minister Patricia de Lille is expected to conduct an oversight visit to the N2 Nodal Development project in the Eastern Cape. The minister will visit the project located in Gqeberha, Nelson Mandela Bay Municipality on Tuesday (8 March). Source: BusinessTech
The Independent Communications Authority of South Africa (Icasa) says it is ready to begin the long-awaited auctioning of the International Mobile Telecommunications (IMT) high demand spectrum from Tuesday (8 March). Source: BusinessTech
The South African Insurance Association (SAIA) plans to open its Vehicle Salvage Database (VSD) to the public in a move that will help stop previously written-off and poorly repaired vehicles from re-entering the used market. Source: BusinessTech
Retailer Massmart, the owner of Makro and Game in South Africa, says it aims to grow its store footprint over the next five years to generate additional sales. It follows its latest financial performance showing extended losses over the past year. Source: BusinessTech
South African motorists face further petrol hikes over the coming months as oil price increase – with a R2/litre hike expected in April based on current trajectories. Source: BusinessTech
President Cyril Ramaphosa has weighed in on Russia’s invasion of Ukraine, calling for the dispute to be settled through mediation rather than the ‘barrel of the gun’. Source: BusinessTech
