Star 2026-04-22

With the ceasefire deadline between the United States (US) and Iran set to come to an end, global markets have been left on edge with the next steps in the conflict remaining unclear. Tensions escalated this week when reports suggested that Iran might decline a second round of talks with the United States. This uncertainty drove the S&P 500 down by 0.2%, reflecting a cautious sentiment among traders. However, the mood brightened slightly following emerging reports indicating Iran’s potential willingness to participate in discussions. “The market’s response has been somewhat bipolar, fluctuating between apprehension and optimism. This instability contributes to an atmosphere of unpredictability as global investors try to gauge the future landscape. Adding to the intrigue, this week also saw Kevin Warsh, President Donald Trump’s nominee for the Federal…

Parliamentary committee hears that R155 million profit for the year was due to routes being sold South African Airways (SAA) may have reported a profit in 2024/25, but the Auditor-General (AG) has left no doubt that the airline is out of control financially and is crashing, that its financial figures cannot be trusted, and that its staff are operating without consequence. Parliamentary Portfolio Committee on Transport members, clearly amazed at the severity of the details that lay behind the AG’s disclaimer on the airline’s financial statements, responded to the AG presentation yesterday with words such as: “This was difficult to listen to” and “it is clear the AG does not believe most aspects of the financial statements to be true,” and “people are clearly doing as they wish at SAA,…

Transnet Group CEO Michelle Phillips has painted a stark picture of the State-owned logistics company’s challenges, telling Parliament that years of infrastructure decline, rising debt, and governance failures have combined to undermine both operational performance and South Africa’s broader economic growth. This comes after a report on the audit outcomes of Transnet tabled before Parliament last month revealed that the group was facing mounting financial and operational pressures, with rising debt, missed volume targets and a growing maintenance backlog casting doubt over the sustainability of its turnaround efforts. Appearing before the Standing Committee on Public Accounts yesterday, Phillips said Transnet’s difficulties were the result of “a convergence of factors” that have created a self-reinforcing cycle of operational and financial decline across rail and port operations. “We’ve seen a convergence of…

South African Reserve Bank (sarb) Governor Lesetja Kganyago has stressed that policymakers have “learnt their lesson” from past crises and will remain firmly committed to the country’s 3% inflation target, even as a fresh global shock threatens to derail the outlook. Speaking at the release of the April 2026 Monetary Policy Review yesterday, Kganyago acknowledged that the year began on a more optimistic footing, with global inflation easing and economies adapting to earlier tariff shocks. However, that progress has been disrupted by the outbreak of conflict in the Middle East, which has driven sharp increases in oil, gas and fertiliser prices and reignited uncertainty. “Today, we are in the midst of yet another shock,” Kganyago said, warning that rising commodity prices and heightened uncertainty are increasing both growth and inflation…

The ongoing conflict in Iran has cast a long shadow over the global economy, igniting significant fluctuations in oil prices and raising alarm bells for consumers across the globe. Following a recent surge that saw Brent crude oil prices reach as high as $107 in early April, experts predict a troubling landscape ahead, with projections indicating prices may linger above $95 per barrel in the near future. As fuel prices climb, the ramifications ripple through the economy, impacting individuals and businesses alike. The pressing inflation crisis is exacerbated not only by higher petrol costs but also through indirect channels, as fuel constitutes a crucial input across various sectors. With inflation currently eroding disposable income, consumers are likely to find it increasingly difficult to maintain their living standards, particularly as real…

The latest Debt Rescue consumer survey has revealed that South African consumers are on the brink of a financial crisis. The survey was conducted amidst the April 2026 fuel and electricity price hikes, which revealed the impact of the latest price surges and how it has added financial pressure to consumers in the country. 9 out of 10 respondents polled in the survey reported that they are under serious financial strain. People are cutting back on essential goods and services to make ends meet, with 52% of those polled saying they are facing severe financial pressure and don’t know how they will cope, while 32% will now struggle to afford the basics. According to Neil Roets, CEO of Debt Rescue, South Africans have valiantly attempted to weather the storm…