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Industry News

08 Jan 2021

Heads must roll at the Land Bank: Agri SA

Agri SA believes that the Auditor-General’s damning report on the status of the Land Bank’s financial sustainability necessitates an urgent intervention. The organization says that whoever was responsible for the financial loss of R2,8 billion must be held accountable and that this and many other challenges have compelled the AG to express serious doubt as...
08 Jan 2021

Bonitas welcomes collaboration for Covid-19 vaccine roll out in SA

On the 7 January, 2021, the Health Ministry announced that South Africa has an estimated 1.25 million healthcare workers who are an urgent priority in terms of Covid-19 vaccinations. A million dosages of the vaccine will be received in January and a further 500 000 in February through the Serum Institute of India (SII). The Department...
08 Jan 2021

ABSA PMI declines further in December 2020

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) declined further to 50.3 index points in December 2020, down from 52.6 in November. This is the lowest level since July 2020. The reading just above 50 index points suggests that growth is levelling off in the manufacturing sector after solid month-on-month gains were recorded in the wake of...
07 Jan 2021

SARS is aware of your offshore assets

By Jean du Toit, Head of Tax Technical at Tax Consulting SA The days where SARS shuts its eyes to taxpayers’ offshore holdings are thing of the past. SARS is finally utilising the Automatic Exchange of Information regime to pin down taxpayers who have not disclosed their offshore interests and numerous taxpayers have already received...
07 Jan 2021

Fitch: African FTA growth impact too small to affect ratings

“It could be credit positive in the longer term if successful trade liberalisation leads to an improved business environment more broadly and stronger economic growth in Africa,” the ratings agency added. The AfCFTA, which came into effect on 1 January 2021, is set to reduce tariff and non-tariff barriers between its 54 African member states,...
07 Jan 2021

SA will receive 1,5m doses of AstraZeneca vaccine

When we held the press briefing on Sunday, 3 January 2021, we indicated that, in so far as our negotiations with individual manufacturing companies was concerned, we were bound by the non disclosure agreements and confidentiality clauses that we had agreed to, ” the Minister said in a statement. “We accept these as we recognise...
07 Jan 2021

Democrat sweep to open fiscal floodgates and boost growth

Democrats have completed a sweep of Congress following the double victory in the state of Georgia’s run-off election. Keith Wade, Schroders’ Chief Economist, discusses what this means for the US economy in the near-term. The disturbing scenes of protestors storming Capitol Hill last night may have soured the victory, but nonetheless the Democrat Party now...
05 Jan 2021

Characteristics of a quality, dividend paying company

Author: Robin Hartslief, Investment Professional, Marriott Asset Management 2020 was a turbulent year in financial markets, characterised by a significant sell-off in February and March, followed by a sustained recovery. Globally, concerns around low growth, low interest rates, a potential recession and intensifying geopolitics increased market volatility and threatened to dampen investment returns. This uncertainty...
05 Jan 2021

Guaranteed investment solutions are an essential part of your investment portfolio

Author: Momentum Investments The effect of COVID-19 on global markets and economies has been far reaching and severe. At the end of March 2020, it was a scary place for investors. The magnitude and the speed of change in the markets were unprecedented because of the fear and uncertainty over the COVID-19 pandemic. The S&P...
09 Dec 2020

A cautionary tale about the vaccine-optimism priced into global stock markets

Doubts, however, remain. Will these vaccines work as advertised? Will they be immediately distributed around the world? The pessimists say it’s too early for investors to celebrate – and in this week’s article that I’ve chosen, Pieter Hundersmarck, fund manager at Flagship Asset Management, warns that it may not be party-time just yet. As this...

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