Talk of South Africa adopting a unified BRICS currency is nothing new, following extensive media reports during last year’s (2023’s) 15th BRICS Summit held in South Africa. Nevertheless, talk of the de-dollarisation of South Africa’s economy, because the United States is no longer the lone world economic superpower, is once again under the spotlight. However, … Read more
The introduction of the South African two-pot retirement system on 1 September 2024 had financial experts worried. Primarily due to the ‘two-pot’ naming convention – one pot for saving and one pot for withdrawal – billions has flowed out of peoples’ retirement planning, because that’s what the pot is meant for. And fund managers believe … Read more
It’s good news for fans of community-based saving, because a large South African bank will offer stokvels from next year (2025). For those who are unfamiliar about the concept, a stokvel is essentially a credit union in which a group of people contribute a fixed amount of money to a common pool, says the National … Read more
Ever-closer ties have allowed private-sector aid of R170 million to flow between business and government, and not the other way round. In a difficult week that started with Stats SA releasing poor GDP data for the fourth quarter of 2023, it became clear that South Africa is effectively in a ‘per-capita recession.’ That’s according Chief Economist … Read more
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