The Financial Sector Forum
Government
Time for a bold new idea of what it means to be SA
By Tim Cohen. In the development of nations, how important is the grand idea? An idea that is embracing in its consequences, unifying in its application and dramatic in its effect? Personally, I think a grand idea is crucial. Even if it doesn’t work perfectly, it helps set the agenda, specify a target and create … Continue reading
Namibia’s government seeks bigger local share in SA banks
24 Aug. Namibia’s government seeks bigger local share in SA banks. The South African-dominated Namibian banking sector has been put on warning that the country is intent on increasing local participation in financial services. Three of the four commercial banks operating in the country — First National Bank Namibia, Nedbank and Standard Bank Namibia — … Continue reading
Banks ‘have to fund infrastructure projects’
Deputy Finance Minister Nhlanhla Nene says SA’s banks must identify projects in the state’s multitrillion-rand infrastructure programme that they can fund. This could help ease the pressure on the government to use debt and tax collections to fund the infrastructure build, especially at a time when revenue is constrained by a weak global economy. … Continue reading
Public sector labour productivity abysmal
21 Aug. ‘SA’s labour productivity is “abysmal”‚ with the performance of the country’s public sector especially poor‚ Prophet Analytics’ quarterly Labour Market Navigator‚ released on Monday‚ shows. The research found private sector labour productivity to be 450% ahead of that in the public sector. The survey also found that although private sector labour productivity was … Continue reading
Government too soft on corrupt public servants
19 Aug. Government too soft on corrupt public servants — Treasury. DISMAYED: The failure to bring about consequences for government officials who commit financial misconduct is one of the reasons advanced by auditor-general Terence Nombembe for the poor state of financial management. While corrupt public servants must be punished, there are too many “soft landings” … Continue reading
‘Trevor’s plan’ now faces a political minefield
What has become known as “Trevor Manuel’s plan” — the final version of the National Development Plan released yesterday — will have to navigate a political minefield as sectional interests and zero-sum politics are bound to make its implementation difficult. In his previous life as finance minister, Mr Manuel was initially loved for the fiscal … Continue reading
Moody’s airs doubts over Budget trends
Moody’s Investors Service, which changed South Africa’s credit rating outlook from stable to negative in November last year, has greeted last week’s Budget with scepticism. In an issuer note yesterday, the rating agency sounded a warning about the impact of rising debt on the country’s A3 sovereign rating. A country’s rating determines the cost of … Continue reading
SA National Budget 2012
23 Feb. SA National Budget 2012. Would you like to understand the implications yesterday’s National Budget Speech delivered by Minister Pravin Gordhan could have on you? Sanlam experts unpack the Budget for you. View Sanlam’s easy to understand translation and see how the National Budget affects you. View the video Budget review Budget in a … Continue reading
SA National Budget 2012
The Minister of Finance delivered the budget speech in Parliament at 2pm on 22 February 2012. Overview of the 2012 Budget. We remain steadfast in addressing the challenges of creating jobs, reducing poverty, building infrastructure and expanding our economy. In brief, Mister Speaker, today’s budget advises the following The global environment remains highly uncertain. While … Continue reading
South African Infrastructure
Infrastructure: Patel cracks the whip. The government is taking a tough-love approach to drive its bold, integrated R1-trillion infrastructure plan and the state will crack the whip on both private sector and weak state institutions. “You can expect quite hard bargaining between ourselves and the private sector on the terms of involvement,” Economic Development Minister … Continue reading
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