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Fifty-two percent of CEOs across Sub-Saharan Africa expect economic growth locally and in their Africa territory (compared to 44% globally) in the next 12 months. At the same time, 50% of these CEOs are feeling more exposed to inflation and macroeconomic volatility (40%).
Minister of Finance Enoch Godongwana delivered his Budget Speech 2024 to Parliament and the nation on 21 February 2024. A key announcement was that tax rates will not be increased in 2024/2025, as previously signalled by the Medium-Term Budget Policy Statement (MTBPS) 2023, to generate the extra R15 billion needed in revenue.
With the budget speech being delivered in an election year, I expect to hear populist promises and over-optimism which is geared more to voters than the financial markets. We will need to scrutinise the numbers coming out of the budget very carefully to see if Finance Minister Enoch Godongwana’s budget proposals are viable and achievable given the country’s high debt burden and strained tax base.
South Africa has experienced severe load shedding (i.e. controlled/scheduled power cuts), almost daily, since September 2022. This recent spike and high frequency of load shedding can be largely attributed to a significant drop in Energy Availability Factor of the coal fleet that has not been optimally maintained due to several factors.
South Africa’s Quality Council for Trades and Occupations (QCTO) is a major driving force behind addressing South Africa’s skills shortages across industries. Uniquely positioned in the Post School Education and Training (PSET) sector, the QCTO has been charged, essentially, with shaking things up and disrupting the status quo to address the inequalities of the past.
The employment trends in the metals and engineering sector are an important indicator for the underlying structural constraints that have plagued the sector for the last decade and a half. The sector currently employs 362,871 people, which is a significant drop from the 577,507 people employed in 2008.
As South Africa moves into 2024, the landscape of Broad-Based Black Economic Empowerment (B-BBEE) is poised for significant shifts. The B-BBEE framework has been a cornerstone of economic transformation in our country, aiming to address historical imbalances and promote inclusive economic growth.
In the rapidly evolving landscape of employee remuneration, the year 2024 marks a crucial juncture. The global dynamics are shifting, presenting both challenges and opportunities for organisations and their workforce. The remuneration climate is quickly and continuously changing, forcibly and consistently keeping us on our toes.
Small and medium-sized enterprises (SMEs) are the beating heart of Africa’s economies. According to the World Economic Forum, as engines of growth, SMEs are responsible for around 80% of the continent’s employment, ultimately helping to reduce poverty and income inequality, enabling the establishment of a new middle class and driving demand for new goods and services.
Our research explores the differing relationships between a country’s economy and the earnings growth of its stock market. Ongoing talk of the risk of recessions is prompting questions about the strength of the relationship between economic growth and corporate earnings.