With the elections now largely behind us, investors’ focus will shift to President Cyril Ramaphosa’s ability and political will in addressing issues of concern, namely: the composition of cabinet to be announced on the 28th of May, transforming the economy with the promised policy reform and resolving the problem that Eskom poses to South Africa.
A new paradigm of fear and uncertainty was unleashed on the world with the demise of Lehmans on the 15 September 2008. And while markets have recovered, spectacularly in some cases, a lingering symptom of the crisis could be one of today’s biggest risks to buoyant stock markets.
President Cyril Ramaphosa’s late night announcement on 31 July 2018 on the decision to amend Section 25 of the South African Constitution to clearly articulate land without compensation has driven the debate on land ownership into top gear.
With four out of 10 marriages in South Africa ending in divorce before their tenth anniversary, it is crucial that spouses plan ahead to safeguard their assets.
Hot on the heels of President Ramaphosa telling the European Parliament on 14 November that South African land reforms will be enacted in adherence to the country’s Constitution, the joint constitutional review committee formally recommended that section 25 of the Constitution be amended to allow for expropriation of land without compensation.
If you are formally employed you might have been required to join your companies contracted retirement scheme, and they would have asked you to nominate a beneficiary for the proceeds in case you die before retirement. However, if you chose a beneficiary that is not your dependant then the chances are that the retirement fund trustees won’t honour your wishes!
Investing offshore should never be a knee-jerk reaction to current events, but rather a decision that is taken as part of an overall financial plan. With elections looming and many investors in panic mode, South Africans need to make sure they are investing offshore for the right reasons.