Tag: uncertainty

With the 1 September implementation deadline looming, South Africa’s ‘two-pot’ retirement reform is fast coming to the boil. While President Cyril Ramaphosa signed the new Pension Funds Amendment Bill, for many employers and labourers there remains much uncertainty. This has prompted us to offer a clear explanation of why this legislation has been drafted but, more importantly, how it will affect employers and employees directly.

South Africa’s consumer continued to breathe a sigh of relief as headline inflation steadied to 5.2% y/y in May 2024 according to Statistics South Africa. Food inflation however decelerated further to 4.3% y/y in May 2024 from 4.4% in April 2024 underpinned by declines in bread and cereals, milk, eggs and cheese, oils and fats, and sugar, sweets, and desserts prices. Drilling deeper into the data shows a continued stickiness on the upside for coffee products.

Ask any budding young entrepreneur in South Africa what they need most, and they will probably rattle off a list as long as your arm: Some moola to invest in their business. A stable electricity supply. The eradication of crime that destroys businesses and results in financial loss. Lower borrowing costs. Reasonable interest rates. And the list goes on.

The demand for highly skilled and adaptable professionals has never been greater. As businesses navigate the complexities of the 4th Industrial Revolution (4IR) and the digital era, they require graduates equipped not only with technical expertise but also with the soft skills and innovative mindsets necessary to thrive in this dynamic environment.

While the African banking market has seen withdrawal of global banks over the last 5 years, the opportunity for localised banking has seen the opposite, driven by the expansion of African banking groups into the continent, led mostly by South African, West African, and Northern African banks.

South Africa is at a crossroads of a significant educational and vocational transition as it shifts from the National Qualifications Framework (NQF) to the Occupational Qualifications Sub Framework (OQSF) managed by the Quality Council for trades and Occupations (QCTO).

Let’s not pretend! Times are tough! A flailing economy, escalating costs, load shedding, geopolitical tensions and elections coming up in 2024 - to name a few challenges. So how do we keep our heads down and our businesses afloat? Often, the same strategies that help achieve success during ‘easier’ years still largely apply – albeit with a heightened focus.

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%).

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.

The author is here to tell you that your anxiety isn’t here to stay. Whether you’re going through something and need support to feel like yourself again, or if you have been dealing with anxious thoughts for a long time, Ten Times Calmer has the help you’ve been looking for.