It is useful to start with what was expected by many commentators, but then did not actually materialise in the budget. What did not happen? There were no income tax increases. On the contrary, taxes were reduced, largely paid for by the usual culprits, sin taxes and the fuel levy, and this year joined by carbon taxes. Even more, R40 billion of tax increases over four years flagged by the Finance Minister last year, were withdrawn. Clearly there is an acceptance that higher t

With 30% of South Africans without retirement savings and many contending with retrenchments and rising debt, the picture looks bleak. Planning for retirement should ideally start with your first salary; however, it is never too late to start where you are. However, setting aside money for your retirement each month is not enough to ensure you meet your retirement needs. Just as life is ever-changing, your retirement plan should adjust as your age, income, needs and circumsta

Now that the Minister of Finance has tabled his 2021 Budget, it has become clear that economic recovery is the name of the game. Yet, the focus remains on formal industries and the private sector – with little mention of the role that Non Profit Organisations (NPOs) play in providing critical skills that unlock economic growth or plans to revive the sector. When asked what the reality on the ground is for NPOs after a year of COVID-19 and lockdowns of all levels, CSI Group Ma

Just as our national economic situation feels exposed, the same can be said when it comes to many South Africans’ personal finances. While the Momentum-Unisa Consumer Financial Vulnerability Index (CFVI) Q42020 reported a recovery of 47.5 points in Q4 from 43.5 points in Q3, consumers remain financially vulnerable – particularly with the arrival of the second strain and return to lockdown level 3 in late December, which again impacted livelihoods and incomes. Government’s app

In times of crisis, people tend to look for more value. It becomes incumbent on brands to recognise these changing market behaviours and reassess how they engage with consumers – not only to offer the immediate value they seek but also to retain them as clients into the future. Covid-19 hit like a thunderbolt in March 2020 and consumer spending clamped down overnight with the announcement of the National State of Disaster. It was this urgent need to deliver that acted as a ca

After years of chasing the outperformance of United States (US) stocks, we expect South African investors to exercise caution this year by taking a more global stance as worries rise about rich valuations of long favoured American names. Despite steep falls in March in response to the Coronavirus (COVID-19) outbreak, US indices like the S&P500 and the Nasdaq100 bounced back spectacularly in 2020 and continued to make record highs early this year. This was driven mostly by ‘Bi

South Africa’s Finance Minister, Tito Mboweni, delivered an upbeat budget to parliament on Wednesday. Surprisingly strong revenues offset some debt woes The government still expects its budget deficit to more than double in the current 2020/21 fiscal year, to 14% of GDP from 5.7% of GDP in 2019/20. But the new estimate is smaller than the 14.6% GDP deficit that was envisaged in the October supplementary budget. While the prolonged impact of the Covid-19 pandemic on South Afri

The 2021 Budget received a generally positive response from many quarters, which was reflected in a rise in markets on the day. Dumo Mbethe, CEO of Momentum Corporate, says the prioritisation of the vaccination campaign as part of the Budget provisions is most welcome. An efficient and accelerated vaccination roll-out is a key dependency for getting South Africa back to normal business activity levels as soon as possible. The pandemic and related lockdown has left our nation