AGP Executive Report
Last update: an hour agoMid-Term Budget: Finance Minister Enoch Godongwana cut the 2026 growth forecast to 1.2%, but said stronger tax revenue has stabilised government debt at 78.4% of GDP. Fuel levies will fall from 4 November, offering R10 billion in temporary relief to motorists and businesses through early January. Steel Industry: The IDC is nearing a roughly $610 million deal to take over ArcelorMittal South Africa, potentially keeping a key supplier to the mining and automotive sectors operating. Trade and Exports: As the risk of losing US trade benefits grows, South African cherry producers are targeting China, which has opened its market to the fruit and offers zero tariffs for qualifying exports. Company Results: Famous Brands lifted its interim dividend despite weaker operating profit and earnings, as subdued consumer spending and cost pressures weigh on its restaurant business.
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