Star 2024-05-03

In this week’s Personal Finance Saturday Page, we look at a survey that reveals that there is a decrease in young professionals seeking medical aid. On trusts, we look at the Trustee insurance and what is covered. We also look at how new job seekers must look elsewhere as no new jobs are being created. Financial illiteracy is an issue that affects more than half of South Africans. We look at how gender lens investing is a key tool for women’s financial literacy In this week’s edition, we also look at how to invest offshore the easy way through global ETFs For all your money matters, scan the QR code.…

MANAGERS in the manufacturing industry in South Africa have remained concerned about the expected return of load shedding in the winter months and stubbornly high interest rates, in spite of activity rebounding to a 2-year high in April. This comes as the seasonally adjusted Absa Purchasing Managers’ Index (PMI) improved sharply into expansionary territory in April, following a dip below the neutral 50-point mark in March. Absa yesterday said the headline PMI rose to 54 points in April, from 49.2 points in March, signalling a renewed expansion and the strongest activity since March 2022. The rebound came from improved business activity, buoyed by a full month of no load shedding, while better domestic demand filtered through to higher new sales orders. The survey, conducted by the Bureau for…

Moody’s Investor Services has warned that the administration that takes power following South Africa’s May 29 general election will face a handful of long-standing structural issues that weigh on the country’s economic growth and creditworthiness. Moody’s yesterday said these issues included stimulating years of sluggish economic growth, curbing chronic power shortages and reducing very high unemployment. One of the major constraints on SA’s economic growth has been its persistently unreliable power supply, with frequent load shedding during the past decade. The difficult operating environment has caused significant disruption, reduced business confidence and increased labour market uncertainty. Moody’s vice president and senior credit officer, Aurelien Mali, said the current government has made incremental progress on these issues. He said the extent and intensity of load shedding has decreased in the run-up…

HSBC ANALYSTS have warned that infrastructure and logistics constraints were holding back South Africa from benefiting from its status as the world’s largest producer of manganese ore. The global bank highlighted the importance of stability in services offered by key State-owned companies such as Transnet and Eskom, among others. This comes as South Africa’s production of manganese ore declined by 9.1%, while sales volumes for the commodity were also 24.4% lower for the three months to the end of February, according to recent data from StatsSA. HSBC trade economist Shanella Rajanayagam said public-private partnerships on key State institutions such as Transnet were key to ending the gridlock that was muzzling the country’s resource opportunities. Power outages have been hobbling South Africa’s production, while rail and ports inefficiencies have also been…

NEW VEHICLE sales went back into growth- mode in April after eight months of consecu- tive decline, gaining 2.2% to 38 172 units when compared with April a year ago, and despite another month of lower vehicle exports. Export sales, an important factor in keeping the local automotive manufacturing industry commercially viable, recorded a decline of 23.9% to 23 394 units compared to exports in April 2023. April brought the cumulative decline in vehicle exports for the first four months of 2024 exports to 9.1%. The Automotive Business Council CEO Mike Mabasa said the positive performance in the new vehicle market during April was a welcome development along with a full month of no load shedding, which had likely supported business conditions. “Economic factors remain the most important aspects…

IN 2012, DURING a Nedbank event, Dr Reuel Khosa gave a powerful oration about the leadership dilemma. He argued that the main ingredients of attuned leadership were connectivity, compassion, honesty, humility, reasonableness and the will to be effective based on knowledgeability. A leader who establishes strong, long-lasting connections based on reciprocity within the community or organisation may confidently face an unpredictable future knowing that their followers will have their back. A leader needs to be perceptive and sympathetic, to have both sense and sensibility, as well as cognition and feeling. A leader should not isolate themselves; instead, they should unite with their followers, provide guidance, assist in achieving their objectives, and inspire them to conquer life’s challenges. The interactions with the community shape the moral authority of the leader. Prioritising…