Word from the Summit – July

A country where half of the population is dependent on state welfare is no achievement and to then try to abuse it for political gain is reprehensible.

Interest rate cut could give economy much needed boost

The interest rate is expected to be left unchanged for the third consecutive time, but a rate cut would be more beneficial for the economy as it would help consumer spending and households’ ability to service their debts as the festive season approaches.

SA can ill afford another public holiday

The prospect of an additional public holiday may be something to get excited about for many South Africans, but the country’s economy simply cannot afford it.

MTBPS: Godongwana must tighten the belt

Finance minister Enoch Godongwana must announce concrete steps on how the government is going to tighten the belt in the midst of the country’s looming financial crisis.

Politicians feast while consumers starve

Despite the huge gap between politicians’ salaries and the average South African salaries, ordinary South Africans are further expected to pay for the government’s failures while politicians are exempted from them.

Two-pot pension: Short-term relief may bring long-term pain 

“It will obviously be very tempting to have the opportunity to withdraw money every year, especially in times of financial difficulty. With rising costs of living due to skyrocketing interest rates and the load shedding crisis, many consumers are struggling to make ends meet and this can be an easy way to gain access to money that would otherwise not be available. 

Impact of AI in the financial advisory sector

One of the most important impacts that AI has in the financial advisory sector is the ability to facilitate and analyse large volumes of data quickly and accurately, says Thys van Zyl, head of product development at Everest Wealth.

Rate hikes: Consumers will pay for poor government decisions

“The Reserve Bank will definitely have to start looking at other options than just applying interest rate hikes. Proactive thinking will have to be done to see how it can be made easier for cash-strapped consumers with the cost-of-living skyrocketing.”

Rand’s free-fall over the last 10 years

“Political and economic uncertainty has had a major influence on the rand in the past 10 years and resulted in the currency seeing a real seesaw. These events can also lead to a lack of foreign investment, which in turn results in the rand seesawing.”