Tag: economy

Amid the global race for critical skills, South Africa’s economic growth hinges on its ability to attract and retain top talent. Companies increasingly report challenges in finding these professionals locally, with the added difficulty of sourcing skilled workers with the right combination of work experience and qualifications.

Nearly 3 million Small and Medium Enterprises (SMEs) employ more than 13 million South Africans. This Heritage Month, a single shopping choice can help secure those jobs. Every rand spent locally is a vote for jobs. We urge consumers to prioritise local businesses this Heritage Month.

The charts below, and others like them, are frequently used online and in presentations by economist and author Stephanie Kelton. She uses them to support the Modern Monetary Theory (MMT) claim that, contrary to conventional wisdom, government deficits are not harmful. Instead, she argues they represent a gain to the economy.

Modern monetary theorists argue that nations with monetary sovereignty can never run out of money to fund projects. They can always issue more currency whenever they need it.

Times are tough, and geopolitical tensions are high in markets across the globe. South Africa is not immune to these pressures. Continued pressure on - and depreciation of - the Rand, largely driven by external factors, fuels fears and adds financial strain to a struggling economy. The economy must also contend with successive Value Added Tax (VAT) increases over the next two years.

The 2024 operating environment remained challenging, with weak economic activity. SA’s GDP growth expectations dropped to 0.5%, down from 0.7% in 2023. The first six months proved especially difficult due to geopolitical uncertainty and high interest rates. Moreover, general uncertainty ahead of SA’s national election added further pressure. These factors are reflected in the Nedbank Group Annual Results, highlighting the impact on financial performance and market conditions.

The world is changing at a pace previously unheard of. Don't be caught off guard. Futureproof your business, career and family life in this uncertain world with The Future, the essential guide to successfully navigating the complexities ahead.

The vidcast dives into sovereign wealth funds and how they work. We unpack the requirements for a good fund, the risks to implementation and the overall benefits to the economy. We also posture various ways of potentially implementing such a fund in South Africa.

The results are in. The African National Congress has attained 40% of the vote, the Democratic Alliance (DA) 21%, uMkhonto we Sizwe (MK) 14%, and the Economic Freedom Fighters (EFF) 9%. It is clear that some of these parties enjoy too much support in the context of a country that claims to be a constitutional state that prioritises the rule of law and which requires massive foreign and domestic private investment.

The Corporation for Deposit Insurance (CODI) finally aligns South Africa with the rest of the G20. By guaranteeing cash deposits of up to R100,000 per qualifying depositor in the event of a bank collapse, this innovative new scheme has the potential to change South Africa’s banking landscape, which is currently dominated by the Big Five (FNB, Nedbank, Standard, Absa and Capitec).