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Industry News

25 May 2017

New improvements to SARS dispute management process will help taxpayers

Taxpayers who disagree with SARS on any matter – whether it is income tax or VAT – will welcome changes to the service’s dispute management process which were introduced on 15 May 2017. This is according to Ilsa Groenewald, Associate Director for tax at the Durban office of international audit, tax and advisory firm, BDO...
25 May 2017

Low confidence in education system meeting NDP goals

One of the goals stated in the National Development Plan (NDP) is for 90% of grades 3, 6 and 9 learners to achieve 50% or more in annual national assessments for literacy, mathematics and science by 2030. When asked whether they feel this goal is realistic, only 26% of South African graduate professionals said yes....
25 May 2017

Shortage of retirement accommodation in South Africa

There’s an added element of retirement planning that perhaps does not receive the attention it should.  It relates to the choices about the roof over one’s head when one becomes a senior citizen.
24 May 2017

Inflation eases to 5.3%, weak growth remains a concern

By Mamello Matikinca, FNB Senior Economist Consumer price inflation staged its first return within the SARB’s target band since August last year, printing 5.3% y/y in April from 6.1% in March.
24 May 2017

Cyber-crime requires specialised protection against unique risks

The majority of businesses in South Africa are aware of the risks of cyber-crime, but very few of them have adequate – if any – cover to protect their organisations in the event of a cyber-attack.
24 May 2017

FNB promotes access to banking in rural South Africa

FNB has become the first bank in South Africa to introduce a non-cash dispensing ATM with deposit capability. These ATMs are a smaller version of the standard ATM which FNB introduced in 2013 as a way of bringing banking services directly into communities.
23 May 2017

Uncertainty means SARB expected to leave rates unchanged

The uncertainty around the rand with Moody’s rating review still pending would make the Monetary Policy Committee very cautious to change any policy settings. This is according to Tinyiko Ngwenya, an economist for Old Mutual Investment Group, who says that the South African Reserve Bank will likely leave the repo rate unchanged at the conclusion...
22 May 2017

Is entrepreneurship a trip best travelled alone?

Every so often, an entrepreneurial endeavour will be a collective effort – from idea to execution – resulting in a business being built around a partnership of complete equal ownership and responsibility. More commonly, however, an idea will sprout from a single individual who, upon cultivating the concept and embarking on their entrepreneurial journey, must...
22 May 2017

Alternative investments firm adds two new directors

South African alternative investments firm, Trustee Board Investments (TBI), has recently announced the addition of 2 company directors, expanding the board to eight seats. The move comes in light of TBI’s recent acquisition of Ora Fund Managers.
19 May 2017

IMF Staff Completes 2017 Article IV Visit to South Africa

The staff of the International Monetary Fund (IMF) recently completed a visit to SA.  Here’s what they found.

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