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Daily Podcast – September 04, 2018

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Daily Podcast – September 04, 2018

4th September 2018

By: Sane Dhlamini
Creamer Media Researcher and Writer

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For Creamer Media in Johannesburg, I’m Sane Dhlamini.

Making headlines: SA in technical recession as second quarter GDP falls, Faith Muthambi hits back at Phumla Williams And, Radebe says the exclusion of new nuclear power capacity was not deliberate

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SA in technical recession as second quarter GDP falls

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South Africa has officially entered a technical recession, after Stats SA announced on Tuesday that the country's real gross domestic product had decreased by 0.7% in the second quarter of the year.

This follows a GDP contraction of 2.2% in the first quarter. A technical recession is two consecutive quarters of negative growth.

The largest negative contributors to GDP growth were the agriculture, transport and trade industry. While the mining, finance, real estate and business services industries were the main positive contributors.

The ABSA Purchasing Manager's index for August, released on Monday, was at a 13-month low, reflecting the dire economic situation.

 

Faith Muthambi hits back at Phumla Williams

Former communications minister Faith Muthambi says she is seeking legal advice after she was implicated in the commission of inquiry into State capture, by acting Government Communication and Information System Director General Phumla Williams.

In a statement released on Tuesday, Muthambi threatened to expose Williams' testimony as lies.

She added that Williams' testimony violated the credibility of the commission.

Williams accused Muthambi of wanting to "steal at all cost," removing 70 percent of her functions including procurement and finances.

 

Radebe says the exclusion of new nuclear power capacity was not deliberate

The decision to shelve plans to build new nuclear power plants was not based on principle but price and reduced electricity demand, Energy Minister Jeff Radebe said on Tuesday.

He was briefing MPs on the new draft Integrated Resource Plan released last week, which makes no provision for controversial plans by the administration of former President Jacob Zuma to construct additional nuclear plants and add 9.6 gigawatts to the national power grid.

Speaking to Parliament's portfolio committee on energy, Radebe said that nuclear was not in the plan as a result of lower demand and lower cost of other technologies.

 

That’s a roundup of news making headlines today

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