On Tuesday, China pledged to invest $14.7bn in South Africa and grant loans to Eskom and SAA. While this investment brings the country closer to President Ramaphosa’s target to raise US$ 100 billion in foreign direct investment, some argue that China’s intentions are not what they seem.
For most people the words 'death' and 'marriage' do not belong together in the same conversation. The last thing on people’s minds when they get married and enter into an ante-nuptial contract is death – the focus is usually around possible divorce. Likewise, when planning the affairs around our demise, very few of us would be thinking about marriage.
President Cyril Ramaphosa activated the controversial Investment Act 22 of 2015, by publication of a notice in the Government Gazette, on Friday 13 July.
In 1982, Forbes Magazine in the United States published its now renowned list of the 400 wealthiest Americans for the first time, ranked by their net worth. Twenty-one years later, JP Morgan conducted a study to examine the list and determine which families remained amongst the country’s wealthiest. The result was astonishing:
Throughout history, the world has been exposed to numerous economic bubbles. From Japan’s real estate and stock market bubble in 1990 to the dot-com bubble and US housing bubble, each one had dire consequences for the economy and detrimentally impacted millions of people. Whether Bitcoin is destined for a similar fate remains a rife debate among investors and cryptocurrency experts alike.
The Group continued to develop increasingly relevant products and services to a broader South African customer base. The financial results improved off the back of better risk management processes, while the advances book has stabilised off better new business volumes, notwithstanding the difficult economic conditions experienced during the reporting period.
Technology is changing the playing fields in business – and in the financial planning environment in particular, can allow intermediaries to enhance their business operations and their client engagement. On the other hand, the human element is similarly important – for insight, holistic thinking and a trusted relationship. Optimally combining the two, in a well-considered and complementary way, can mean greater efficiency, greater productivity and more satisfied clients. But the key is to get it right.
The affirmation of South Africa's investment-grade credit rating by Moody's late on Friday is welcome. South Africans will now be spurred to focus on their individual financial wellbeing and ask if their own status could be described as investment grade or junk. This in light of the fact that 94% of South Africans still on the junk watchlist.
The start of the year is a common time for people to re-evaluate their lifestyles, their careers and their financial situations. This often manifests as the famous “New Year’s resolution,” an impulsive decision to kickstart the year with some form of lifestyle change, fitness goal or new habit.