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Tag: State of the Nation Address (SONA)
Address by President Cyril Ramaphosa to the Joint Sitting of Parliament on South Africa's Economic Reconstruction and Recovery Plan.
The 2020 Budget was tabled to Parliament on 26 February 2020 by South African Finance Minister Tito Mboweni.
Every year, when I start thinking about the annual Budget Speech, I wonder what is to come. Is this the year that the corporate tax rate will change? Maybe capital gains will finally be 100% taxable? Or something more low key, like an increase in the Securities Transfer Tax?
Tonight President Cyril Ramaphosa will rise in Parliament to review the current State of the Nation, and to indicate what he will be doing over the next 12 months to steer South Africa through the very troubling waters the country is currently in.
Public sector staff expands and retail jobs disappoint. Statistics South Africa (Stats SA) reported on that South Africa’s unemployment rate was unchanged at 29.1% during the fourth quarter of 2019. With this reading, South Africa has the fourth-highest unemployment rate out of 182 countries tracked by Trading Economics, after Namibia, Bosnia & Herzegovina and Angola.
One-liners and sweeping statements about the importance of tourism to the South African economy are not enough for the 2020 SONA. While the sector is undoubtedly one of the major contributors to the development of the economy, the Tourism Fund doesn’t have a lot of money in its coffers.
In their 2014 Harvard Business Review article titled 'What VUCA Really Means for you', Nathan Bennett and James Lemoine warned us not to use the VUCA acronym as a crutch. Sadly, looking at the South African context today, this has indeed become a reality. It is important to understand that just because we can’t prepare for a Volatile, Uncertain, Complex and Ambiguous world, does not mean we cannot lead our businesses through it.
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