Up to 30,000 eligible small businesses in more than 30 countries (including South Africa) will be able to receive a grant from Facebook. To be eligible to apply, your business must: Have between 2 and 50 employees Have been in business for over a year Have experienced challenges due to COVID-19 Be in or near…
Mauritius has been a popular holiday destination for South Africans for many years, but the government’s recent concessions have made it more accessible and affordable for South Africans to retire, live and work than ever before. In June 2020, the Mauritian government’s changes to investment thresholds, the extension of work, residence, retirement permits, and attractive…
For information, here is a presentation delivered by the SARS Commissioner at a leadership discussion with the private sector held on 31 July 2020.
On behalf of the East African Employers Organisation (EAEO), the SADC Private Sector Forum (SADC PSF) and the International Labour Organisation (ILO), we have the pleasure of inviting you to a webinar on Developing Policy Frameworks for Recovery & Prosperity from the COVID-19 pandemic. The webinar will present examples of how Business Leaders across the…
The address by Lesetja Kganyago, Governor of the South African Reserve Bank (SARB), at the 100th annual Ordinary General Meeting of the SARB shareholders. Issued by SARB Media Relations.
31 July 2020 Press statement on VBS Mutual Bank banking licence The South African Reserve Bank (SARB) has received a number of letters from parties interested in reviving VBS Mutual Bank. The SARB and the Prudential Authority (PA) have and will continue to engage with communities and other interested parties seeking to enter the financial…
Media statement 31 July 2020 Enhancements to the South African Reserve Bank’s open market operations The South African Reserve Bank (SARB) continuously reviews the appropriateness and effectiveness of its open market operations (OMOs), and makes amendments where necessary. Recently, a review of the toolkit for OMOs was undertaken. Based on the review, the following changes…
The Covid-19 Loan Guarantee Scheme was set up to help ease some pressure off qualifying businesses negatively affected by low economic activity following the global lockdown imposed to reduce the spread of COVID-19. It has been reviewed to make it easier to access. Some of the changes include that bank credit assessments and loan approvals…
Press conference to announce the Monetary Policy Committee decision on 23 July 2020 The Monetary Policy Committee (MPC) decision press conference will be held on Thursday, 23 July 2020. The announcement will be broadcast live on SABC3, eNCA, BDTV, CNBC Africa and Newzroom Afrika at 15:00. The conference will be hosted virtually on Zoom and journalists will be…
The South African Reserve Bank today released the First Edition of the Financial Stability Review 2020. The presentation and the publication can be viewed and downloaded below.
The impact of COVID-19 on economic statistics released by the South African Reserve Bank The Economic Statistics Department of the South African Reserve Bank (SARB) has always met its statistical commitments regarding original release schedules, in accordance with the International Monetary Fund’s Special Data Dissemination Standard. However, the COVID-19 pandemic has had an impact on…
Statement of the Monetary Policy Committee Assumptions Forecast Repo fan
As a result of the novel coronavirus and the steps taken to curb its spread, many businesses face a significant loss of income. In this context, government is partnering with commercial banks to provide financial support to small and medium-sized firms to enable them to meet their operational needs over the next few months. On…
Paris, March 27, 2020 — Moody’s Investors Service, (“Moody’s”) has today downgraded the Government of South Africa’s long-term foreign-currency and local-currency issuer ratings to Ba1 from Baa3. The outlook remains negative. The key driver behind the rating downgrade to Ba1 is the continuing deterioration in fiscal strength and structurally very weak growth, which Moody’s does…
BY DANIE BEZUIDENHOUT 2020 VISION entails a detailed Business Plan The business plan helps a company to derive its advantages and maximise benefits out of them. It creates a clear and concise “roadmap” to follow and should include the following top benefits: Help the Company to formulate its objectives and goals clearly. The company formulates…
BY DANIE BEZUIDENHOUT You can’t start or grow your business without funding. Unfortunately, applying for and getting a business loan isn’t a fast or stress-free experience. Applying for a loan is one of the most crucial steps for any business owner. To give yourself the best chance of getting approved, follow these tips for negotiating and…
The Netherlands, 11 October 2019: Business Partners Limited was named Gold winner in the SME Bank of the Year – Africa category at the Global SME Finance Forum Awards on October 7. Business Partners Limited – one of Africa’s leading business loan and equity providers – has successfully developed one of the world’s most innovative…
Press statement 04 December 2018 – The South African Reserve Bank (SARB) is pleased to announce a partnership with the University of Cape Town (UCT) to host the Research Chair in Financial Stability Studies. Professor Co-Pierre Georg will chair the portfolio, which will be housed within the African Institute of Financial Markets and Risk Management,…
Key points S&P Global has downgraded the South African long‐term local currency sovereign credit rating to subinvestment grade BB+ (stable outlook) from BBB‐ and the long‐term foreign currency sovereign credit rating to BB (stable outlook) from BB‐. This followed the earlier foreign currency debt downgrade to junk status in April. Moody’s has left its equivalent…
Date: 25 October 2017 The Medium-Term Budget Policy Statement (MTBPS) delivered by Finance Minister Malusi Gigaba, today, is an honest reflection of the grave state of our public finances but lacks sufficient detail to bring confidence and greater certainty to the economy, Business Unity South Africa said today. “We welcome the acknowledgement by the Minister…
The South African Reserve Bank invites you to the Financial Stability Forum that coincides with the release of the latest Financial Stability Review. Kindly complete the attached form and RSVP toSharlay.Madalane@resbank.co.za by Wednesday, 1 November 2017.
FCCI & RCCI are hosting an engagement session with SEFA (the Small Enterprise Finance Agency) on Thursday 31st August 2017. The aim of the session is to engage the Gauteng Business Community and to open lines of communication. A wealth of information will be shared on how business owners can raise their business profile and…
If you lived in New York, you’d be paying $7.95 – R100.43 – for a loaf of bread, according to the Worldwide Cost of Living report recently released by The Economist Intelligence Unit. However, petrol would be costing you only $0.61, or R7.70 per litre. The report explores the cities with highest and lowest cost…