Tag: unemployment

As South Africans continue to suffer from numerous government failures, there is a small ray of hope emerging. The private sector is stepping up to do the job where they are allowed to do so. This is exemplified in three stories that came out in the first two weeks of June.

The recent suggestion by PSG CEO Piet Mouton that the requirement to disclose executive pay should be made optional raises important questions about an issue that consistently attracts controversy. This follows news reports of Sibanye-Stillwater CEO Neal Froneman receiving R300 million in remuneration for 2021, most of which related to conditional share proceeds.

Instilling trust in taxpayers is vital to increasing tax collection. The South African Revenue Service (SARS) has announced that the 2022 tax season will open in July; a condensed filing season compared to 2021, which was extended due to the long-tail impact of the pandemic.

June was a brutal month for global equities, capping the worst first half of a year since the launch of the MSCI All Country World Index in 1987. For indices with longer track records, the story is worse. In the case of the US S&P500, the first half performance has not been this bad since 1962.

Rising costs of living and high levels of unemployment in an unpredictable economic landscape have turned traditional financial aspirations on their head as people desperately scramble to overcome short-term challenges at the cost of long-term investments.

What is the value of one’s heart beat? What is the meaning of life? Do I matter? These are existential questions that people increasingly reflect on in light of the COVID-19 pandemic and the rising number of existential threats facing humanity.

The South African Reserve Bank increased the repo rate by 50 basis points to 4.75%, after it was previously agreed at 25bps during the May policy meeting due to the declining Rand exchange, consumers are in for a tough time. When the repo rate goes up, the lending rate goes up and the consumers' pockets are affected.

Financial stress. Lower productivity. Poorer profitability. It’s a slippery slope that South African employers have to manage. The inaugural 2022 State of Employee Wellbeing Barometer says the impact of financial stress on business profitability is a slippery slope that South African employers have to manage.

The prolonged Russia-Ukraine war is ushering in a new era of volatility and possible recession for South Africa and the world. When Finance Minister Enoch Godongwana delivered his maiden budget speech in February 2022, little did he know that Russia would invade Ukraine the very next day, immediately changing both the world and South Africa’s economic outlook for 2022 and beyond.

The National Budget Speech is here, and South Africans are ready to face the reality of increased costs across the board. Rising fuel prices, growing inflation, increased interest rates and the inevitable surge in food prices all seek to cripple household finances.