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Consumers should brace themselves for higher debt repayment after the South African Reserve Bank’s Monetary Policy Committee (MPC) announced a 50 basis point increase to the repo rate. This is also set to impact job creation in the country.

 


The South African Reserve Bank’s Monetary Policy Committee (MPC) has announced an increase in the repo rate. The increase means that the repo rate has increased three times since November 2021.

 


Gartner defines the concept of finance-first as one that allows for the organisation to transform its enterprise resource planning (ERP) platform with purpose. With a focus on improving how the business manages its insights and strategises its overall modernisation.


Representatives from South Africa’s financial services industry today announced the establishment of the Women in SA Financial Services Network. 


After closing the largest EdTech crowdfunding fundraise on UK crowdfunding platform Crowdcube - and the largest crowdfund in history for an African-linked start-up - HyperionDev, a leading provider of tech education, has now launched a second crowdfunding campaign. This will enable it to roll out online coding bootcamps in more regions to help plug the digital skills gap locally and internationally.


During the State Of The Nation Address, President Cyril Ramaphosa declared that more than 850 000 opportunities were supported through the Presidential Employment Stimulus Programs. 


Since November last year, the interest rate has gone up by half a percentage point and with economic growth prospects projected to reach 1.7%, consumers are predicted to accumulate more debt. 


The South African Reserve Bank’s Monetary Policy Committee (MPC) has increased the repo by 25 basis points which will see the repo rate rise to 4%. This also means that the prime lending rate will rise to 7.5%. 


A recent survey of 5000 employers found that half of them will not be paying their employees a 13th cheque or a ‘bonus’.


For many workers, the month of December comes with a bonus or 13th check. This could see some employees' income doubled for one month. 


It is official, the South African Reserve Bank’s Monetary Policy Committee (MPC) has decided to increase the repo by 25 basis points which will see the repo rate rise to 3.75% per year.


Launched in October 2020, the Presidential Employment Stimulus(PES) was announced to combat the financial impact of the Covid-19 pandemic.


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.


The rand recently reached its strongest against the US dollar since 2019. Consumers and economists are hopeful about what this means for the country. 


South African’s recently commemorated Freedom Day, a celebration of our nation’s struggle for democracy. But how many of us are truly free?


For many South Africans, retirement is a distant reality. Exactly how much of the population can afford life after work?

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