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May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 27 2012 11:49
The country's 200 000-odd Tupperware agents are angry about the counterfeit products being sold as the real McCoy.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Johannesburg - The South African government performed "really well" during the
recent global financial crisis, the International Monetary Fund (IMF) said on
Wednesday.
"South Africa is a classic case of a country building buffers in the
good times and using those buffers when the crisis hit," IMF economist
Abebe Selassie told a briefing in Sandton on his organisation's outlook for
sub-Saharan Africa for 2010.
One of the least noticed aspects of the global downturn had been the
resilience of the sub-Saharan Africa region, he said.
"Previous global economic slowdowns had a much more damaging impact,
but this time the global downturn was much sharper but the dislocation was far
less."
Selassie said that as the global financial crisis started to unfold,
economic policies were directed quickly and effectively towards ameliorating
the impact of the external shocks.
"Most governments that anticipated the slowdown made plans to
accelerate public spending growth and on the monetary policy side, policy
interest rates were also reduced."
Selassie predicted that South Africa's economy would grow by 2.6% for
2010.
"But I will be going back to Washington and revising it. It'll probably
be a quarter of a percentage point higher. So growth will be expected to come
in around 3% for South Africa in 2010," he said.
- Sapa