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28 Feb 2024

National Treasury positive about economic growth

According to PWC experts, Minister of Finance Enoch Godongwana expects structural reforms and interventions in energy, logistics and safety to boost business and investment sentiment. A key announcement was that tax rates will not be increased in 2024/2025, as previously signalled by the Medium-Term Budget Policy Statement (MTBPS) 2023, to generate the extra R15bn needed...
28 Feb 2024

New Fiscal Frontiers

By: Izak Odendaal, Old Mutual Wealth Investment Strategist Every year, the Budget Speech commands wall-to-wall media coverage. Most of this coverage asks something along the lines of “What does the Budget mean for the taxpayers, the economy and markets?” Increasingly, this question should also be asked in reverse. How does the state of the economy and the bond market...
27 Feb 2024

Not that bad, but not that good

Frank Blackmore, Lead Economist at KPMG answered MoneyMarketing’s questions on this year’s Budget. Here’s what he thinks worked, what didn’t, and what definitely has room for improvement.   What was your overall impression of the Budget? My overall impression was that there was not much to this budget from a change perspective. It’s not surprising...
27 Feb 2024

Budget 2024 Highlights

By: Shane Packman, Associate Investment Analyst at Morningstar South Africa  Finance Minister Godongwana faced a challenging budget amid slow economic growth, elevated inflation and interest rates placing strain on South African households, service disruptions, and constrained tax revenue. The additional tough task was balancing spending pressures with election considerations, while simultaneously addressing the challenge of rising debt...
27 Feb 2024

Two key take-aways from the 2024 Budget Speech

By: Farzana Bayat, Portfolio Manager at Foord Asset Management Faced with some very harsh realities – from a severely constrained economy and infrastructure challenges to lower commodity-driven revenue and expenditure running well above target – Minister of Finance Enoch Godongwana’s Budget Speech was a mixed bag. At R1.73 trillion, tax revenue for 2023/24 is R56.1 billion lower...
23 Feb 2024

Budget: Walking a tightrope 

By: Carla Rossouw, Head of Tax, Allan Gray Bracket creep hits low- to middle-income earners  It is clear from the 2024 Budget that Finance Minister Enoch Godongwana finds himself between a rock and a hard place ahead of a watershed election in May. His options are limited to achieve stability in the country’s finances: Borrow more,...
23 Feb 2024

South Africa’s shifting risk landscape

By: Tavaziva Madzinga, Santam Group CEO Insuring risk is not a modern-era concept. The age-old practice became a common business security instrument to the burgeoning English shipping industry in the 17th century, and the first insurance ‘contracts’ can even be traced as far back as Babylonian times around 133 AD. The industry has evolved and...
23 Feb 2024

What we’ve learned from 2023

By: Mike Townshend, Foord Portfolio Manager Despite the very negative market outcomes of 2022, fears of a US-led global recession topped our list of worries at the beginning of last year. We also expected corporate earnings to start to decline and the global consumer to come under increasing pressure due to higher interest rates and...
15 Feb 2024

What’s the skinny on ‘miracle drugs’?

By: Ross Yammin, Business Development, Distribution and Global Research Analyst at Laurium Capital UK During the last 18 months, global equity markets have been abuzz with the term ‘GLP-1’. The ‘miracle drugs’ have affected various industries and the debate between the drugs’ current high cost and longer-term benefit is one which continues to rage on...
15 Feb 2024

What a tax-free investment should ideally be used for in a financial plan, and what not

By: Pierre Jean Marais, Retail Marketing at Momentum Wealth As financial planners and wealth managers, our goal is to craft effective strategies tailored to people’s unique needs. Tax-free investments (TFIs) offer valuable opportunities to address key financial planning objectives, including retirement planning and setting future generations up for financial independence. Let’s explore the most appropriate...

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