The strengthening of the South African rand against major currencies, particularly the United States dollar and the pound sterling, helped boost global insurance giant Old Mutual’s earnings in sterling during the first half of this year.
Premier Discount Company which started operations at the beginning of this year made a profit of $111million in the first half of this year, and it says despite the economic challenges the country is facing, prospects for the second half are encouraging.
Poor planning and empty promises by the government could derail the country’s agrarian reform as the country is currently short of seed for virtually all crops except soya beans.
The government has increased the producer price of wheat from $400 000 a tonne to $776 205 a tonne but farmers have said the price increase came too late.
The price of maize at Mbare Musika had gone up by more than 400 percent between mid-May and mid-October, according to the latest report from the Famine Early Warning Systems Network, but it had only increased by 61 percent in US dollar terms.