Debt owed to municipalities reaches R72,4 billion
We often hear of how much municipalities are in debt. But there is another side of the coin. Municipalities themselves are owed money, often by consumers and institutions. Debt owed to South Africa’s 257 municipalities (referred to as net current debtors1) totalled R72,4 billion in the 2018 financial year, according to the latest Financial census of read more »
Dismal December for retailers
The most important month of the year for retail trade is December, when many consumers are on holiday and go Christmas shopping. But December 2018 was a tough month for retail in South Africa. The volume of sales fell by 1,4% year-on-year, which was the first negative annual growth rate since February 2017. The poor read more »
Business profit jumps in financial year 2016/17
Some good news in trying times. After two consecutive years of decline, South African businesses recorded a 49% increase in net profit before tax in financial 2017, according to Stats SA’s latest Annual financial statistics (AFS) survey. The mining industry was the largest contributor to this rise. The success of a business generally depends on read more »
An update to municipal spending and revenue (June 2018)
South Africa’s 257 municipalities spent a total of R88,6 billion in the quarter ended June 2018, 18% more than the R75,1 billion spent during the quarter ended March 2018. Municipal revenue was down, however, falling by 6% over the same period, from R87,6 billion (March quarter) to R82,6 billion (June quarter). Stats SA’s latest Quarterly financial statistics of municipalities read more »
Four facts about municipal debt
Eskom announced earlier this year that it would roll out power cuts to several defaulting municipalities.1 The inability of particular municipalities to honour debt payments has been a thorn in the flesh of local government administration. The following are a few key facts about municipal debt, from Statistics South Africa’s latest Financial census of municipalities read more »
If South Africa’s provinces were independent states
Perspective matters. A lot. Recent provincial economic data published by Stats SA take on a fresh light when they’re ranked against other countries. Gauteng is South Africa’s economic powerhouse. The province contributed just over a third to South Africa’s economic output in 2016, according to provincial gross domestic product (GDP) figures.1 In runner-up positions were read more »
Tighter profits in the formal business sector
The formal business sector, excluding agriculture and banking, generated R2,34 trillion in income during the first quarter of 2017, for the months of January, February and March. On average, that’s R300 560 of income generated every second over that 90-day period. You might be thinking that’s quite a hefty amount. You might catch yourself imagining the read more »
Media advisory: The state of basic service delivery in South Africa & Quarterly financial statistics of municipalities
Media advisory                                                                                           28 March 2017 Statistician-General to release reports on financial statistics of municipalities and the state of basic service delivery The Statistician-General of South Africa, Dr Pali Lehohla, will release reports on the quarterly financial statistics of municipalities and the state of basic service delivery in South Africa at a media read more »
A tale of three economies in Africa
One of many comparisons between countries is the size of their economies. In the recent past, a number of people noted that Nigeria had overtaken South Africa as the largest economy on the African continent. Subsequently, articles were written about South Africa being pushed into third place by Egypt, only to regain the silver medal read more »
Municipal spending in the third quarter
Municipalities in South Africa spent a total of R73,1 billion during the September quarter of 2016. Stats SA’s latest Quarterly Financial Statistics of Municipalities report1 provides an overview of how this money was spent. More than half of municipal expenditure during the September 2016 quarter was on two items: electricity (28,0%) and employee-related costs (27,8%). read more »