Business sector reveres Raymond Ackerman
Raymond Ackerman, a revered entrepreneur and philanthropist, has received tributes from various sectors including Build One South Africa, the Western Cape government, Woolworths, and Business Unity South Africa. He is celebrated as a shrewd businessman and formidable industry competitor. Alongside his wife Wendy, Ackerman founded Pick n Pay in 1967, which has since become one of South Africa’s leading retail chains. His passing at the age of 92 has prompted an outpouring of condolences and accolades on social media platforms.
Fuel price rise may add pressure on inflation – Economists
Economists predict record diesel price hikes will put pressure on inflation, adding risks to the interest rate outlook.
Massive petrol and diesel price increases this week have unsettled the outlook for a cooling inflation trend.
The prediction is that inflation will rise and remain above five-percent for the rest of this year.
However, economists still believe the South African Reserve Bank will not raise interest rates again.
Meanwhile….
Reserve Bank Governor, Lesetja Kganyago, says high inflation weakened what the Rand could buy, making South Africans poorer.
According to Kganyago, steep fuel price hikes are among the factors eroding the Rand’s purchasing power.
He says the current domestic economic outlook remains unfavourable.
Home Affairs committed to improving SA’s borders- Minister
Home Affairs Minister Aaron Motsoaledi, says they are committed to improving the country’s border posts.
He says the government is committed to putting in the latest infrastructure and technology in its efforts to modernise and upgrade ports.
Motsoaledi added that the main objective of upgrading border posts is to make it easier for law-abiding people to enter and exit the country while combating illegal crossings.
Taxi body in EC to introduce cashless system
Santaco in the Eastern Cape says introducing a cashless payment system will help formalise the taxi industry.
The provincial taxi council will launch Wealth on Wheels in January.
The system will use GPS tracking and live camera monitoring to improve safety and efficiency.
