Advertisement

Economy


Minister Malusi Gigaba has presented the 2018 National Budget in Parliament. Highlights are: VAT increases to 15% on purchases, R57 billion for Higher Education, national GDP estimate rises from 0.7% to 1.0% over the next year.

Click here to download the Pocket Budget Guide

SEE MORE DETAILS BELOW

The impact of technology on the world over the past two decades has been unsurpassed, with countless industries being disrupted by technological advances and developments. Over the past five years, this impact has become prevalent in the established financial sector, with emerging technologies increasingly affecting incumbent businesses and their clients.
 

We have had report after report revealing disheartening information regarding job losses and economic downturns following the pandemic and subsequent lockdown. Over 1.4 million jobs were lost in 2020, and only a fraction of this was expected to be recovered in 2021. Similar events have occurred on a global scale. Is there any good news? Read on and see how you should be pivoting your career, and adjusting expectations with regards to work and studies.

woman signing up for retirement plan

After announcing that South Africans will be able to withdraw their retirement funds, the National Treasury has left many wondering just how soon this will happen. 

woman calculating money spent
Couple celebrating their savings

Everyone wants a savvy solution that will make the most of their money and in this regard, one of the most popular topics is a Tax-Free Savings Account (TFSA). While a TFSA sounds great in principle, according to Oliver Balcomb (CFP®), a Director at the Consolidated Group, it is important to understand the mechanics of this investment vehicle before adding a TFSA to your financial portfolio.

laptop
Money

With a record high unemployment rate of 43.2% recorded in the first quarter of 2021[1], and lockdown destroying 42.7%[2] of small businesses in South Africa, it is a clear signal that the backbone of our country’s frail economy is weakening.

The COVID-19 pandemic is having a devastating impact, destabilising the economy and putting pressure on already fragile livelihoods and communities. Restrictions on trade have
led to reduced imports and price hikes impacting both industry and consumers. Businesses have suffered further through loss of trade caused by the restrictions on movement and
limits on gatherings. Rising costs and declining revenue have forced many businesses to close or scale down, leading to job losses and declining household incomes. Unsurprisingly,

Tourism Minister, Mmamoloko Kubayi-Ngubane

The Department of Tourism is working on an initiative to give entrepreneurs access to more funding. 

Sassa recently made changes to its grant system and some have been spreading news about it.  There have been posts circulating about Sassa continuing with grant top-ups.

Pages

Advertisement

Subscribe to Economy