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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.

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young person relocating to another city

Digital talent in Africa leads the pack in looking to change jobs in the near future for better career opportunities: 73 percent will switch roles to advance their careers, compared to 63 percent globally.

USB SBA from left to right Dr Armand Bam, Shadreck Siziba, Nocawe Nompunga and Constant Mambiki LR

From till-packer to owner of a supermarket in one of South Africa’s biggest retail networks, Shadreck Siziba’s business journey has taken him to the top of the class in the Small Business Academy (SBA) development programme for township entrepreneurs run by the University of Stellenbosch School (USB).

As the world shifts towards cashless payment methods, South Africa is gradually moving away from cash against a social and economic backdrop of inequality and slow economic growth.

young man using laptop

Nedbank has launched the Nedbank DigiSkills online platform, in partnership with Microsoft and Afrika Tikkun, to help South Africans acquire the in-demand skills needed in a more digital post COVID-19 economy. The initiative initially aims to upskill and create sustainable income opportunities for 1 000 South Africans by the end of 2021, with plans to grow this number to 5 000 in the longer term.

run down building

The past year has been tough. People are struggling. Organisations are battling. And tensions are high. In July 2021 this boiling pot of frustration, stress and anxiety exploded, and South Africa faced extensive damage as looters swept across the country.

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.

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