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GENERAL NOTICES

18.11.2016 BLSA Studies on Electricity Supply Industry Restructuring and Eskom Asset Restructuring

18.11.2016 Call for Comment on Draft BUSA Submission on Second Draft Rules: Customs Duty Act

16.11.2016 SACCI Press Release - Trade Conditions - October 2016

15.11.2016 Update on the Court Process From the President of SACCI

15.11.2016 JSN Motors (BMW) / SACCI Members Deal

14.11.2016 Invitation: Turkish Trade Delegation to South Africa

11.11.2016 Tender Bulletin - 11 November 2016

 

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Transnet 600 Ton Gas storage tank safely crosses TPT's Saldanha Terminals operations, click here for more information

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Transnet Port Terminals rewarded for high standards of operational safety

 

SACCI REACTION TO THE 2017 BUDGET - PRESS RELEASE PDF Print E-mail
Wednesday, 22 February 2017 18:05

SACCI REACTION TO THE 2017 BUDGET


The Minister of Finance, the Honourable Mr Pravin Gordhan, delivered the Budget Speech on the 22nd of February 2017. The South African Chamber of Commerce and Industry (SACCI) welcomes that which under present difficult economic conditions is a measured and relatively balanced budget.

Whilst acknowledging the increased support to SMMEs and the continued increased budget allocations to the industrial and telecommunications infrastructure, we however wish to register our disappointment with the increase in general fuel (30c per litre) and the fuel levy (9c per litre). We believe this significant increase in the fuel costs will lead to inflationary pressure all-round as the increase in the fuel cost will have a negative impact in the entire ecosystem of cost of living.

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SACCI EXPECTATIONS OF THE BUDGET SPEECH 2017 - PRESS RELEASE PDF Print E-mail
Tuesday, 21 February 2017 13:59

SACCI EXPECTATIONS OF THE BUDGET 2017

The Minister of Finance, the Honourable Mr Pravin Gordhan, will be delivering the Budget Speech on the 22nd of February 2017. The 2017 Budget Speech is being delivered at a time South Africa is experiencing subdued economic growth, with the outlook for 2017 revised by the Reserve bank to 1.1% from a previous outlook of 1.2%.

The 2017 Budget Speech also comes at a time when the ruling party is approaching its national elective conference. The President has in recent times spoken about “radical economic transformation” and SACCI would like to see how “radical economic transformation” will be interpreted in the 2017 budget speech.

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TRADE CONDITIONS SURVEY - PRESS RELEASE PDF Print E-mail
Tuesday, 14 February 2017 11:30

Fragile Trade Conditions


The seasonal adjusted Trade Activity Index (TAI) declined from 53 in December 2016 to 46 in January 2017 – reflecting weaker trade conditions. The non-seasonally adjusted TAI was up to 45 from 44 in December 2016 and indicates the strong seasonal factor present in trade conditions – especially year-end.

The seasonally adjusted TAI of January 2017 was up by 6 index points from the dismal TAI of 40 of January 2016. The solid improvements in trade conditions sighted in December 2016 and January 2017 were due to the surprising and unfortunate economic developments that impacted negatively on trade conditions at the end of 2015 and beginning 2016.

Respondents to the January 2017 Survey indicated political uncertainty, community protests, unemployment, shortage in disposable income, slow economic growth and difficult export markets due to stronger rand, as the most amongst important matters negatively affecting trade. 

The sub-indices on new orders, sales volumes, supplier deliveries and the backlog on received orders improved in January 2017. The sales volumes index increased from 45 in December 2016 to 48 in January 2017 while new orders remained on 43. The inventory index declined from 48 to 44.

The sales and input price indices both eased slightly in January 2017. Inflationary expectations remained unchanged but high at 67 and 74 respectively for sales and input prices.

The Trade Expectations Index (TEI), on 59 index points in January 2017, remained in positive terrain. Although expectations do not have a strong seasonal factor, the seasonally adjusted Trade Expectations Index improved from 55 in December 2016 to 59 in January 2017. Expectations on sales, new orders, supplies and inventories all were in positive territory and at 55 index points or higher.

The employment sub-index declined further to 44 from 45 in December 2016. The six-month employment prospects, however, improved slightly from 48 to 49, but remained in negative territory. The national minimum wage did not appear to affect the January 2017 results.

For more information and infographic, click here
Alan Mukoki
SACCI CEO Cell: 082 551 1159
Richard Downing
Economist for SACCI Cell: 082 822 5566

 
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