AGP Executive Report
Last update: 9 hours agoMining: Production fell 10.7% year on year in September and 6% quarter on quarter, led by iron ore, coal and platinum-group metals. Mineral sales dropped 4.1%, while mining input-cost inflation accelerated to 4.9%, with petroleum costs up 32.9%. Automotive manufacturing: Volkswagen Group Africa has begun producing its Tengo SUV at Kariega after a R4-billion investment. About 45% of its components come from local suppliers, and the model is designed for African markets. Agriculture and logistics: Citrus exports fell 1.5% to 201 million cartons, below both last year’s total and the industry’s forecast. Shipping shortages, Middle East disruption and higher costs squeezed the season, putting farm-level jobs at risk. Energy: South Africa added 2GW of solar PV capacity in the third quarter, even as fresh debate over nuclear expansion and rising data-centre power needs puts pressure on the country’s electricity plans. Retail: Woolworths shares slid 8.5% after sales growth stalled at 0.2%, reflecting consumers’ reduced spending power amid high fuel costs, inflation and interest rates.
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