South Africa’s downgrade One investment grade remains, which is enough… for now On the 24th of November 2017, Standard & Poor’s downgraded South Africa’s government debt denominated in local currency to sub-investment grade, and debt denominated in foreign currency to BB from BB+.
South African Budget Speech 2017 On 22 February 2017, the South African government’s budget for the fiscal year 2017/2018 was presented by Pravin Gordhan, Minister of Finance and the framework for the next three years was defined.
In a recent article by Dr Andrew Golding, it is evident that Cape Town’s property market outperforms the rest of South Africa. saCape Town’s coastline and mountains act as a major constraint on the city’s ability to expand, which goes some way towards explaining the out performance of the Cape housing market.
Our colleague, Hans Kroll, attended yesterdays breakfast at the American Chamber in Johannesburg where the new mayor Herman Mashaba of Johannesburg held an impressive speech. As Hans had the great pleasure to hear the address alone so far, we did not want to keep this great future oriented speech for ourselves and therefore we are sharing this with you : picture credit: http://businesstech.co.za Executive Mayor, Cllr Herman Mashaba Address to the American Chamber of Business 4 October 2016 A City of golden opportunities for investors Good morning ladies and gentlemen, I am honoured to be with all of you this morning. Thank you to the American Chamber of Commerce for extending me an invite to speak at this breakfast. Last month I was delighted to meet with US Ambassador to South Africa, Patrick Gaspard at my office. It provided the two of us with an opening to discuss current US investments in our City and for me to also expand on my vision for this City. While it was a courtesy call, it also afforded me the opportunity recommit the City of Joburg to maintaining close ties with the US, and indeed my intention to foster stronger ties and create an environment for increased foreign investment in our City. I was very pleased by Ambassador Gaspard’s positive outlook on South African democracy following the local government elections. […]
“We must continue to market the country as a preferred destination for investments.” In his State of the Nation Address 2016, President Zuma did not only give an overview on his administration’s past policies, but also on his plans to pave the way for South Africa to return to economical prosperity in the future. Hence, the speech bears importance to all foreign nationals willing to invest or do business in South Africa, which can hardly be underestimated. picture source: www.sacommercialpropnews.co.za “If there are any disagreements or problems between us, we should solve them before they escalate.” Nevertheless, the address was embedded in turmoil when members of the EFF and other members of the opposition repeatedly interrupted the delivery of his speech and eventually walked out on Zuma in protest. This is due to the fact that Zuma faces a variety of allegations of which some even stem from a time before he took office as President of South Africa in 2009. The most recent accusation in that long list questions his very competence as President and casts a shadow on his ability to bring stability to the country: […]
At a meeting held in Shanghai on the 21st July 2015, officials from the world’s largest emerging nations launched the New Development Bank, NDB, also known as the BRICS Bank. picture source: pakistantoday.com.pk The NDB is the second of two new policy banks heavily backed by China, which are to be alternatives to existing institutions such as the World Bank. The NDB or BRICS Bank follows soon after the establishment of the also China-led Asian Investment Infrastructure Bank (AIIB). The new bank aims on funding infrastructure and development projects in the BRICS countries – Brazil, Russia, India, China and South Africa. Disagreements over the bank’s funding, management and headquarters had slowed it launch, which was proposed in 2012 and concluded in 2015. […]
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