Risk Alert

The Risk Alert is a weekly two-page analysis of emerging political and economic risks. It provides guidance on how topical events, both locally and globally, will influence South Africa’s business and investment environment. The Risk Alert, presented in both PDF and audio formats, is published every Monday morning, — helping CRA clients to begin each week armed with the latest analysis of key events.

Risk Alert | A ‘meaningless’ reshuffle

13 March 2023 - In this week's exclusive client Risk Alert, we discuss last week’s Cabinet reshuffle, which was largely met with derision.

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We also unpack the latest economic indicators, and South Africa’s tense labour relations.

In closing, we look at S&P Global’s downgraded outlook on South Africa’s sovereign credit rating, and the potential global consequences of the collapse of Silicon Valley Bank in the United States.

Risk Alert | Turmoil in Tshwane

06 March 2023 - In this week's exclusive client Risk Alert we we examine the latest developments in the Tshwane Metropolitan Municipality, and the wider implications for coalitions in South Africa.

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We also unpack the latest crime indicators, as well as the rising trend of private sector frustration with the government.

We then close with a look at the most recent Purchasing Managers’ Index, amidst an uncertain global monetary policy environment.

Risk Alert | A prudent budget

27 February 2023 - In this week's exclusive client Risk Alert we unpack the latest National Budget presented by the Minister of Finance, Enoch Godongwana, on 22 February 2023.

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We also look at the untimely departure of Eskom CEO, Andre de Ruyter, amid rolling electricity blackouts, as well as the implications of the adoption of the Electoral Amendment Bill (EAB).

We conclude with a look at the foreign policy ramifications of South Africa’s stance on the Russian invasion of Ukraine.

Risk Alert | Government plans to take itself off-grid

20 February 2023 - In this week's exclusive client Risk Alert, we look at the South African government’s latest moves to address the crisis in the electricity sector, amid heightened concerns about the collapse of public infrastructure in the country.

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We also analyse domestic inflation trends, with a specific focus on food prices, as well as the implications of imported inflation.

We conclude with a look at the long-term prospects for copper in the context of the green energy transition.

Risk Alert | The real state of South Africa

13 February 2023 - In this week's exclusive client Risk Alert, we unpack the latest State of the Nation Address delivered by President Cyril Ramaphosa last week, with special focus on the announced state of disaster.

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We also look at how business activity and growth prospects are negatively impacted by loadshedding, as well as President Cyril Ramaphosa’s renewed call for investment in South Africa.

We conclude with a look at the United States, and whether that country’s economy can sidestep a recession.

Risk Alert | The dangers of a new state of disaster

6 February 2023 - In this week's exclusive client Risk Alert, we look into the risks of a ‘state of disaster’ in response to South Africa’s electricity crisis, as contemplated by the African National Congress (ANC).

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We also examine the broader policy implications of the increasing ‘toenadering’ between the ANC and the Economic Freedom Fighters; and the impact of failing transport infrastructure on South Africa’s economic growth prospects.

We close with a comment on the risk of foreign-denominated debt, notably the potential burden on the South African taxpayer.