Finance Minister Enoch Godongwana’s Medium-Term Budget Policy Statement (MTBPS) delivered today poured cold water on all the good news the market was expecting about an improving economy following the formation of a Government of National Unity (GNU), improved energy security and lowering inflation, according to Citadel Chief Economist, Maarten Ackerman.

Financial advisers are facing a critical challenge: the need to build a younger client base. According to Bidvest Life’s 2023 Claims Report, the answer lies in leading with income protection for young lives.

Andrew Harding FCMA, CGMA, Chief Executive – Management Accounting at AICPA & CIMA, highlights how finance and accounting professionals in Africa drive transparency and accountability. Through policy advocacy and best practices, they build trust, foster economic growth, and attract investment.

Sanisha Packirisamy, Chief Economist at Momentum Investments Group shares five of the fiscal pressure points that she expects the medium-term budget policy statement (MTBPS), to be tabled on 30 October 2024 by Finance Minister Enoch Godongwana, to focus on.

Since coming into effect on 1 September, the ‘two-pot’ retirement system has seen a total gross lump sum of R21.4 billion paid out to taxpayers, thus far according to SARS. However, any savings withdrawn from retirement savings must be declared to the SARS as gross income and taxed accordingly – highlighting the importance of understanding the tax implications before deciding to withdraw from your retirement annuity, or your pension or provident fund.

As the dust settles on the implementation of new retirement legislation, Linda Kleynscheldt, Head of Actuarial and Product, PSG Wealth unpacks why having a quality financial adviser will help retirement savers make the most of what is a complex set of new rules.