MoneyMarketing

Industry News

18 Feb 2021

Discovery Invest's market outlook for 2021

It goes without saying that 2020 was a tumultuous year as people around the world confronted the unprecedented social, economic and political challenges brought about by the COVID-19 outbreak.
18 Feb 2021

African capital market activity lower in 2020

Overall, African equity capital market (ECM) activity in 2020 was the lowest it has been in the last decade, recording a significant decline in both volume and value. The drop in equity markets was largely driven by the impact of the repercussions of the COVID-19 pandemic as well as global and economic uncertainty.

17 Feb 2021

Momentum Securities' Stock Pick of the Week

"Our stock pick of the week is none other than Citigroup. Citigroup share price has significantly lagged that of competitors during the last couple of years.

17 Feb 2021

PIC Amendment Act 2019 promulgated

The PIC Amendment Act, 2019, has been promulgated and published in the Government Gazette, after being signed into law by President Cyril Ramaphosa.
17 Feb 2021

Ashburton rebranding multi-manager funds

On 15 February 2021 Ashburton Investments sought approval from investors for the amalgamation of the Ashburton Multi Manager Funds with the FNB Multi Manager Funds. "The purpose is to consolidate the unit trust portfolio range under the FNB brand and distribution strategy," the company says.
17 Feb 2021

Budget 2021: Short-term fiscal reprieve leading to longer-term benefit?

In a year characterised by the COVID-19 pandemic and resultant devastation to the economy, there was a slither of good news on the country’s fiscal position.
17 Feb 2021

Business valuations now available online

As many local businesses prepare for financial year-end, their business valuations can be used for more than the regulatory requirements spurred by COVID-19. The pandemic brought about a substantial change in the business environment, with prevailing conditions continuing into 2021.
17 Feb 2021

Emira declares 52cps half-year dividend off robust portfolio structure

Emira Property Fund (JSE: EMI) reported a half-year dividend of 52 cents per share and distributable income of R333.7m for the six-month interim period to 31 December 2020. In its interim financial results it states that the company is invested in "a quality, balanced portfolio of diverse office, retail, industrial and residential properties." It has 78 directly-held properties valued at R9.9bn in South Africa and equity investments in 10 grocery-anchored open-air convenience shopping centres in the USA.
17 Feb 2021

Budget 2021: Focus on trend of tax enforcement, improved collections

South Africa’s budget, which is to be presented in parliament on the 24th February, in unlikely to see the introduction of a wealth tax or any other significant tax increases, but rather further steps to ensure tax enforcement and collection. Ekow Eghan, EY’s South Africa Tax Leader said, “The Budget trend since 2019 has mainly been to equip the South Africa Revenue Services (SARS) to enhance tax enforcement and improve tax collections. We do not anticipate a significant departure from this focus in this month’s budget”.
17 Feb 2021

Budget 2021: SA must increase revenue, but how?

The upcoming National Budget Speech for 2021/22 will see South Africa’s Treasury in probably one of the most difficult positions it has ever faced. Not only is National Treasury expected to record a budget deficit of at least 14% (with tax revenue being around R312.8-billion lower than projections at the start of the 2020/21 financial year), but Finance Minister Tito Mboweni needs to find ways of funding numerous urgent projects.

Visit the official COVID-19 government website to stay informed: sacoronavirus.co.za