Our Honourable Minister of Finance’s budget speech is not only going to be under the magnifying glass by rating agencies this week but also by South African consumers. Wikus Olivier, debt management expert at DebtSafe, says that some announcements can have an unfortunate effect on over-indebted consumers. He mentions that many South Africans are already applying for credit on a huge scale as it is and if indirect taxes, income tax and/or Value Added Tax (VAT) are increased – the situation could worsen.
As access to banking services through digital channels continues to grow, so does the need to protect consumers against the prevalence of online banking fraud.
The latest Quarterly Labour Force statistics put unemployment at over 26.5%, highlighting the desperate need for both government and private sector to prioritise investment into building up entrepreneurial ventures that will drive job creation.
By Coface, the international trade credit insurance company
Brazilian companies are currently faced with a challenging economic environment. GDP saw an accumulated contraction of 7.4% between 2015 and 2016 and credit conditions deteriorated against a backdrop of more restrictive credit supply and a tighter monetary cycle. The GDP forecast for 2017 is lackluster at 0.4%.
You are exceptionally fortunate if you don’t have any major debt. But be honest, it is not quite that simple. There are many female consumers that are not so lucky to #undebt themselves as life constantly throws unwanted curve balls at them.
Commentary by Arthur Hlubi, legal and compliance executive at Bayport Financial Services
When money is tight and debts are piling up, it is easy to feel overwhelmed and very alone. In times of stress and worry, most people withdraw and end up spending too much time on their own with their mind going in circles.
Johannesburg – FNB is seeing rapid growth in the number of consumers that are doing their banking outside the normal banking hours due to the convenience of Automated Deposit Tellers (ADTs) which do not require users to go inside the branch.
By Jason Muscat, FNB Senior Industry Economist
Johannesburg – December retail trade sales expanded 0.9% year-on-year, more or less in line with expectations. As had been expected, the month-on-month number dropped sharply, falling -2.3% on a seasonally adjusted basis, largely as a result of preemptive Christmas shopping taking place in November, particularly on Black Friday.
Author: Cathie Webb, Director, South African Payroll Association
We encourage all employers, employees and payroll departments to prepare themselves for an income tax increase that will likely be announced during Finance Minister Pravin Gordhan’s upcoming National Budget Speech.
By Mamello Matikinca, FNB Economist
Johannesburg – Today’s CPI survey indicated that inflation is turning the corner, rising 6.6% y/y in January from 6.8% in December. Over the month inflation was up 0.6% led by food, transport and miscellaneous goods and services. Core inflation pulled back notably, increasing 5.5% relative to the 5.9% recorded in December, suggesting that inflationary pressures eased somewhat over the month.