June 2017

acrobat WEEKLY MONITOR – Food & Water Security in South Africa – 03 June to 09 June 2017
Author: Augustus Consulting
Key Emerging Trends, Themes and Issues
• South Africa’s agricultural sector losses 44 000 jobs amid growing concerns about its future stability.
• Economic Freedom Fighters (EFF) leader, Julius Malema’s land invasion case postponed to October, as he challenges the constitutionality of the Riotous Assemblies Act of 1956.
• The World Bank cut its forecast for South Africa’s GDP growth for 2017 by 0.5 percentage points to 0.6% in its June Global Economic Prospects report.
• S&P warns on political risks in South Africa, as markets are waiting for a decision from Moody’s, which has put the country on review for a downgrade.
• South Africa’s Parliament passes the Extension of Security of Tenure Amendment Bill which seeks to protect farm dwellers from evictions.

acrobat WEEKLY MONITOR – Food & Water Security in South Africa – 10 June to 16 June 2017
Author: Augustus Consulting
Key Emerging Trends, Themes and Issues
• Moody’s downgrades South Africa’s credit ratings due to the country’s weakening institutional framework, reduced growth prospects reflecting policy uncertainty and slower progress with structural reforms, and the continued erosion of fiscal strength due to rising public debt and contingent liabilities.
• The Department of Agriculture in Limpopo urges farmers near the border with Zimbabwe to check their poultry for symptoms of bird flu after South Africa suspended all imports of poultry products from Zimbabwe after an outbreak of bird flu in that country.
• The African National Congress (ANC) expresses concern at the decision of ratings agency Moody’s to downgrade South Africa’s foreign and local currency debt from Baa2 to Baa3.
• South Africa’s political instability dents the confidence of investors in the country amid slow growth.
• Moody’s downgrades South Africa’s top five banks Standard Bank, FirstRand, Absa, Nedbank and Investec, three development finance institutions, certain City Power and Sanral credit ratings, and 10 regional and local governments.

acrobat WEEKLY MONITOR – Food & Water Security in South Africa – 17 June to 23 June 2017
Author: Augustus Consulting
Key Emerging Trends, Themes and Issues
• Moody’s says the steep decline in South Africa’s business confidence is a setback to economic growth recovery and will dampen investment amid growing political uncertainty in the country.
• Khayelitsha land invaders granted bail as South Africa’s land crisis deepens.
• South Africa’s Automobile Association (AA) predicts petrol price to drop next month.
• Moody’s, the only credit rating agency to still rate South Africa’s sovereign credit rating above junk, looks likely to give this country a further downgrade in December.
• South Africa’s consumer inflation remains within the Reserve Bank’s 3%-6% target range in May, with the consumer price index (CPI) ticking up to 5.4%, from 5.3% in April, as food prices rose 7%, and prices of food and non-alcoholic beverages were up 6.9% from a year earlier.

acrobat WEEKLY MONITOR – Food & Water Security in South Africa – 24 June to 30 June 2017
Author: Augustus Consulting
Key Emerging Trends, Themes and Issues
• South African silos are ready for the record maize harvest as the Crop Estimates Committee announces that the maize crop output was expected to be 101% more than in 2016, with the expected commercial maize crop set at 15.631-million tonnes.
• South Africa’s economy causes it to decline significantly on the 2017 Fragile States Index and the country is no longer regarded as stable.
• South Africa’s economic uncertainties are adding pressure on consumers, who are feeling more financially stressed, according to the MMI Unisa Consumer Financial Vulnerability Index.
• South Africa bans sale of live chickens as the bird flu crisis deepens.
• Bird flu outbreak poses new threat to South Africa’s ailing poultry industry.

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