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Fri, Jul 3, 2020

FEATURE | Governance & Accountability

Poor governance practices, poor oversight and a lack of accountability lie at the heart of state capture and the large-scale corporate fraud that has dominated newspaper headlines in South Africa over the last three years. It is precisely due to the weaknesses in the governance structures and systems that dishonest and unethical leaders have been able to plunder state resources and commit fraud.

Fitch downgrade is not as bad as it seems

There was more salt in the wounds for South Africa when Fitch announced that they were downgrading government's credit rating another notch, this follows the announcing by Moody's a week ago that they were also downgrading the credit rating.

Moody’s decision to cut South Africa’s credit rating to junk was...

Moody’s cut both the local and foreign currency-denominated debt from Baa3 to Ba1 and retained the negative outlook. Their statement highlighted South Africa’s deteriorating fiscal situation amidst very weak economic growth, saying: 'The key driver behind the rating downgrade to BA1 is the continuing deterioration in fiscal strength and structurally very weak growth.'

COVID-19: practical tips for dealing with financial uncertainty

Travel bans, lockdown, working from home and avoiding public spaces have suddenly become the new normal, and you may be feeling unsettled and anxious as the coronavirus crisis wreaks havoc on our everyday activities and routines.

SARB rate cut: keeping inflation stable and offering some relief

The Monetary Policy Committee (MPC) unanimously decided to decrease the repo rate by 100 basis points to 5.25%. This somewhat unprecedented move was a direct result of the deterioration in economic conditions due to the COVID-19 pandemic experienced in South Africa and across the globe.

SARB rate cut – a boost for agriculture

In the midst of a recessionary domestic economy, favourable inflation outlook and lower oil prices, the South African Reserve Bank (SARB) got room to cut interest rates by 100 basis points to 5.25%. A rate cut, downside inflation outlook and supportive rand boost agriculture rebound.

Hedging loadshedding

The latest round of load-shedding has focused attention on the cost of running generators during power outages, in particular mitigating the effects of volatile diesel prices.

Debt relief solutions ensure a happy productive workforce?

It’s still early enough in the year to review your spending habits, getting your finances into shape and implementing a financial plan that will ensure you get back on track. According to the 2019 Consumer Credit Market Report carried out by the National Credit Regulator, 59% of employees are stressed about their finances with less than 15% of South Africans able to afford retirement.

Relentless in the fight against fraud, 2020 and beyond

Bank hackers, email phishing scams and identity theft are synonymous with fraud in the financial sector. According to a statement by the South African Banking Risk Information Centre (SABRIC), more than R 800 million were lost over the last couple of years in South Africa due to fraud.

Budget 2020: High Noon – ratings and bailouts

Budget statements have in recent years perennially made downward revisions in economic growth projections. Disappointing growth outcomes compared to official forecasts is partly attributed to the inability to implement planned structural reforms that would have delivered improved growth outcomes.



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