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27 Feb 2018

Should Treasury have implemented more provisions to boost SA’s economic growth?

South Africans are the worst savers globally, an enduring fact that has just been confirmed by the latest figures from the Investec GIBS Savings Index, which measures the country’s savings rate and savings behaviour. Clocking in at a 27-year low, the lack of household savings has a direct impact on small and medium-sized businesses (SMMEs)...
27 Feb 2018

Reported economic crime in South Africa hits record levels

Reported economic crime in South Africa hits record levels; cost and accountability concerns rising 77% of SA organisations have experienced economic crime; Fraud committed by consumers ranks as the second most reported crime in SA; CEO and board increasingly being held accountable for economic crime; Only 37% of respondents have conducted an anti-bribery/anti-corruption risk assessment;...
27 Feb 2018

'Cabinet reshuffle positive for the economy'

Despite the inevitable political compromises, on balance the reshuffling of the cabinet is a positive step for the economy.  This is according to NWU School of Business and Governance economist, Professor Raymond Parsons. ”Although the changes to the Cabinet are inevitably the outcome of political compromise, the latest reshuffle of the Cabinet by President Cyril...
26 Feb 2018

Initial Coin Offerings evolving to a more robust and regulated model

Initial Coin Offerings (‘ICOs’), took off in 2017 as a means used by blockchain based startups to raise funding. A recent report by PwC’s consulting division Strategy& states that in 2017 alone a total of $4.6bn (USD) was raised through ICOs, up from $0.2bn USD in 2016.
22 Feb 2018

Is Budget 2018 enough to please Moody’s?

  By raising South Africa’s VAT rate from 14% to 15%, the South African government indicated a willingness to take difficult (and unpopular) decisions in order to stabilise the fiscus. Coupled with the recent change in the President, this Budget should be enough to keep Moody’s on hold when they release their South Africa sovereign...
22 Feb 2018

Personal income tax buoyancy has run its course

South Africa’s tax measures have traditionally focused on personal income tax as an important source of revenue as this had always proven to be a particularly buoyant source of revenue.  However, over the last years South Africa’s personal income tax collections have continued to underperform.
22 Feb 2018

BUDGET 2018 COMMENT: No wealth tax but taxing the wealthy

In his 2018 Budget Speech, Finance Minister Malusi Gigaba has found a balance between raising taxes on the wealthy, broadening the tax base and providing a safety net for the poor. The rand appreciated somewhat and bond yields traded lower soon after the Minister started to speak, signalling firm approval from the markets.
21 Feb 2018

BUDGET 2018: COMMENT - National Budget geared to instill confidence

Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
21 Feb 2018

BUDGET 2018: COMMENT - Decision to raise VAT 'inevitable'

The decision to raise VAT in Budget 2018 was ‘inevitable’, but risks of continuing to raise various taxes in the face of weak growth is why SA needs much higher economic growth rates. This is according to Professor Raymond Parsons, economist at the NWU School of Business and Governance “Despite its laudable goals and commitment...
21 Feb 2018

BUDGET 2018: COMMENT - Insights from Grant Thornton

General Comments: “We applaud the Minister for the statement in his Budget Speech today when he said: ‘Transformation calls for more than growth alone, it requires a fundamental shift in the way that wealth is created and shared. The structure of the economy needs to be transformed to allow for new ideas, businesses and economic...

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