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Below is the full budget speech delivered by South Africa’s Minister of Finance, Enoch Godongwana.
South Africa's state-owned transport utility Transnet faces mounting financial challenges as Treasury calls for urgent debt stabilisation. With losses exceeding R7. 3 billion and declining rail volumes, the entity must implement strategic reforms to restore operational efficiency and financial sustainability
The South African Treasury, alongside the Department of Communications and Digital Technologies, is implementing a crucial rescue plan for the struggling Post Office. With R1. 8 billion allocated and 354 branches closed, can this intervention save one of South Africa's oldest institutions?
It was announced that Godongwana’s Budget speech will be postponed until further notice.
As the country prepares for the SA Tomorrow Conference in New York, new reforms and economic resilience are positioning South Africa as a premier investment destination.
Helen Zille places the blame for rising tensions between the ANC and DA squarely on Gauteng Premier Panyaza Lesufi, following his controversial remarks about the Government of National Unity.
The NDB says it will continue to establish itself as a regular issuer in the local capital market.
For example, India had created the National Infrastructure Pipeline for 2019 to 2024, an infrastructure projects database, with an initial sanctioned amount of $1. 4 trillion (R25trl).
Before the election, the DA claimed that where it leads, it governs well. After failing to win the election and agreeing to be part of the multiparty coalition, the DA promised to demonstrate how to lead well.
These new nationalistic political currents could certainly see a more populist tilt to fiscal plans, which typically means more spending, tax cuts, and looser fiscal policy.
Instead of putting all your money into one type of asset, diversifying your portfolio through prudent asset allocation is the secret sauce to achieving financial success.
President Cyril Ramaphosa has signed into law the Revenue Laws Amendment Bill of 2023, which makes the two-pot retirement system official.
These recent debt sales in Africa show that investors are buying riskier bonds. This trend is likely to continue as more high-yield borrowers return to sub-Saharan Africa, seeking to capitalise on the region's growth potential.
The monetary policy committee’s (MPC) decision to keep the repo rate unchanged should intensify calls for the establishment of a state bank to prioritise the people.
The recognition programme celebrates young chartered accountants who have made significant contributions to the accounting profession and society.
South Africa's latest sukuk, a senior unsecured sharia-compliant instrument that will launch on the JSE on November 29, was 1. 74 times oversubscribed, with 10 out of 13 bids accepted, the auction results document showed. The country had planned to issue R20 billion.
The credit agency is increasingly concerned about the logistic parastatal’s weakening liquidity profile.
The latest conflict comes at a time when markets are jittery, and bond yields around the world are trading at multi-year highs. Israeli government bonds fell, with the 2120 ‘Hundred Year’ bond down 5. 3c on the dollar at a record low. The shekel sank to its lowest since early 2015 at 3. 9880 per US dollar, prompting the country’s Central Bank to offer to sell up to $30bn of foreign currency to maintain stability.
Financial advisers cannot predict how markets and their clients’ investments will perform and should not be expected to, but they can boost your financial position in less obvious ways. Several studies have quantified how much added value a professional adviser brings to a client’s finances over the long term, and it can be considerable.
Eighty-six percent of institutional investors and wealth managers believe a bond rally is likely within the next two years.
The percentage of accumulated savings that a retiree withdraws annually to live on, known in the retirement industry as the “drawdown rate”, has long been a subject of concern. A large proportion of retirees with living annuities are drawing too much each year for their retirement capital to sustain them if they live to their late eighties or early nineties. To put it bluntly, they are likely to run out of money before running out of life.
Current bond valuations are at their most attractive levels since 2014. South African government bonds are priced to deliver just under a 5% real return over the next 10 years.
Commercial paper is a type of debt instrument issued by funders, which are not necessarily registered banks or authorised credit providers, to provide finance to companies to cover their short-term operational needs, or as the bean counters call it – working capital.
Financials were the best-performing sector on the JSE, gaining 6%, and resources stocks the worst, dropping by 6. 4%.
The past weekend’s Comrades Marathon is described as the ultimate human race. The annual event is a run approximately 90km between Durban and Pietermaritzburg and is considered the world's oldest ultra-marathon. Stuart Green, Analyst, Multi-Manager Solutions, at Platinum Portfolios, a boutique fund management company, looks at the similarities between the marathon and fund management.