Tag: investor confidence

Markets continued their rally into the fourth quarter of 2021, with South African (SA) equities delivering its strongest calendar year return since 2012 (up 27.1%) and global equities since 2015 (up 28.8% in Rands).

Despite perceiving the overall risks to CPI as on the upside, all five members of the Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 3.5%. The repo rate has been on this level since 23 July 2020.

Parliament has been warned of the risk of billions of Rands of capital investment leaving the country unless local investment incentives like those under Section 12J of the Income Tax Act are permitted to continue. Our presentation was made during the Select Committee of Finance’s public hearings on the TLAB, TALAB and Rates Bills.

A loan from the IMF could instil investor confidence – with or without conditions. The previous announcement by the Minister of Finance Tito Mboweni that the South African Government is considering approaching the International Monetary Fund (IMF) for financial assistance amid the COVID-19 pandemic has drawn quite a bit of criticism.

On March 12, 2020, a plaintiff shareholder filed a securities class action lawsuit against Norwegian Cruise Line Holdings, alleging that the company was employing misleading sales tactics related to COVID-19 bookings and cancellations. Another D&O claim was lodged soon after against Inovio Pharmaceuticals relating to statements the company made about developing a vaccine for COVID-19.

On Tuesday 29 October 2019, the South African Minister of Public Enterprises, Pravin Gordhan, released, and held a media briefing on, a special paper entitled 'Roadmap for Eskom in a Reformed Electricity Supply Industry, 2019' (the Roadmap). The Roadmap highlights the issues that Eskom is currently facing and then sets out the government's plan to address them.

George Herman | Director and Chief Investment Officer | Citadel Investment Services | georgeh@citadel.co.za | www.citadel.co.za | Following a neck-and-neck battle with fellow candidate Nkosazana Dlamini-Zuma, the Monday evening announcement of Cyril Ramaphosa as ANC Presidential victor has buoyed investor sentiment, with the rand surging 4% against the dollar before the final result was even known. The composition of the Top-6 leadership of the ANC is a unique mix between the two opposing ‘slates’. This will hopefully ensure unity in the ruling party and...

Willie Botha | Senior Executive: Assurance and Practice | SAICA | willieb@saica.co.za | www.saica.co.za | The World Economic Forum’s (WEF) Competitiveness Report 2017-2018 that was...

South African President, Jacob Zuma, has decided to remove the Finance Minister Pravin Gordhan and his deputy, Mcebisi Jonas, from their posts.