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Banks will remain open during he 21-day nationwide lockdown in South Africa. Photo: PexelsLooks like the online criminals have been busy on Friday. Just hours after the City of Johannesburg confirmed they were stung by a cyber attack, the same thing seems to have happened to the major banks of South Africa. Customers are experiencing delays and issues with transactions – and it just so happens to be payday for many of us.Banks targeted by “cyber attack”SABRIC, the South African Banking Risk Information Centre, have confirmed that the industry has been hit by a wave of ransom driven Distributed Denial…
Image suppliedIt is estimated by 2025, no fewer than 25 of the 48 countries that are expected to be facing water shortages will be African.According to Mannie Jnr. Ramos, CCO of Abeco Tanks, the world’s first bank for water, “This means that around 230 Million Africans will be living in water scarce areas, with another 460 Million in water stressed areas.” “When one considers that water is needed for success in agriculture, business, industry and mining – the pillars of the African continent’s developing economies – a water continuity plan is critical.” According to studies 70% of freshwater is used for agriculture…
Minister Tito Mboweni flanked by Deputy Minister Modli Gungubele and Director General Dondi Mogajane arrive in parliament for the Budget 2019 Speech [Photo: GCIS] Finance Minister Tito Mboweni has the unenviable task of delivering some hard truths on Wednesday, as he gives his second Mid-Term Budget speech. The ANC representative will set out the government’s fiscal plans for the immediate future, and some tough decisions have to be made in order to revive South Africa’s ailing economy.The alternative Mid-Term Budget planHowever, shadow Finance Minister Geordin Hill-Lewis reckons that any cuts or belt-tightening manoeuvres must be nothing short of ruthless. The…
Photo: PixabayThere’s no secret recipe or winning formula for being a successful investor. But, if you follow a handful of basic steps (and avoid a few common mistakes), you’ll start stacking the odds in your favour.1. Have a plan, and stick to itWhat are you investing for? Decide on a goal – whether it’s a new home, your child’s education, your retirement, or whatever else – and figure out what you’ll need to do to achieve that target. Our online Goal Calculator is a great way to help you work out exactly what your monthly contributions should be, your time horizon, and…
Image courtesy of GCISThis Rand report is brought to you by Sable InternationalThe Rand has shown some strength in the last couple of weeks. On Friday, it reached a month-and-a-half high of R14.57 to the US Dollar. The data coming out this week is likely to dampen the mood as we expect the unemployment rate to increase from a staggeringly high 29% to 29.4% when it’s released on Tuesday.On Wednesday, the South African Finance Minister Tito Mboweni will be delivering the country’s Medium-term Budget Policy Statement. The budget will show the national accounts of South Africa and it isn’t looking optimistic…
Photo: Adobe StockDuring Tito Mboweni’s 60-minute Mid-term budget speech, the rand value nosedived b 2.5% on Wednesday afternoon. The Finance Minister, given the unenviable task of balancing South Africa’s books, failed to give too many concrete details on Eskom’s debt relief and interventions on the unemployment crisis.Mid-term budget speech creates a “shock-market”Things got off to a shaky start, as the R15 : $1 barrier was swiftly approached…Tito Mboweni speach has already taken Rand to R14.85 against Dollar from R14:60 🙆🏿♂️🙆🏿♂️🙆🏿♂️🙆🏿♂️— Starona (@RTisane) October 30, 2019 Why has the rand value dropped on Wednesday 30 OctoberWith joblessness at an 11-year high…
Pixabay.comMost of the time, you’re measuring yourself against your peers, trying to figure out if you’re keeping up (launching a career, having kids, buying a house…) or falling behind wherever you’re supposed to be.Funny thing is, those lifetime milestones don’t have a fixed timeline. Everybody’s situation is different, so while one person might be married with children in their early 20s, others might choose to travel, study or focus on their career instead. It’s all basically down to what you want out of life! But regardless of what your life’s goals are, there’s one curve that you don’t want to…
Photo: PixabayThere are fewer currencies which operate on a more volatile basis than ZAR. The rand value has been on a rollercoaster ride in the past seven days, which has concluded with a shock surge against the US dollar.The South African currency had plummeted through the floor on Wednesday, after Tito Mboweni’s Medium-term budget speech pulled no punches and painted a glum economic future for South Africa. Growth forecasts for the year is down to just 0.5%, and you know things are bad when ministers suggest cutting their own salaries and luxury items.Exchange rate: Dollar to rand value on Monday…
Canva.comThis Rand report is brought to you by Sable InternationalA horrific mid-year budget from South African Finance Minister Tito Mboweni caused the Rand to nosedive against all major currencies last week. With South Africa’s deficit rising astronomically during the year, we now expect to see a massive rise in national debt in the years to come.Mboweni cut South African growth forecasts just days before the critical Moody’s credit review on Friday. Fortunately for South Africa, Moody’s (who have given the country the benefit of the doubt on numerous occasions) avoided a downgrade to junk status. The credit rating agency altered their…
Photo: @PresidencyZA / TWPresident Cyril Ramaphosa says he is encouraged by the decision of the Ford Motor Company to work with government to establish the first Tshwane Automotive Hub at the Special Economic Zone.Tshwane Automotive Hub: What we know about the new additionThe automotive hub, which is part of the expansion of the OR Tambo Special Economic Zone (SEZ), will be developed through a joint partnership between the Department of Trade and Industry, Gauteng Provincial Government and the City of Tshwane.What are Special Economic Zones?Broadly, Special Economic Zones are an initiative of government, aimed at repositioning the country in the…