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 / Business & Financiën
Finweek - English

Finweek - English

12 December 2019

Finweek is South Africa’s leading financial weekly magazine focusing on investment. With its brisk, creative and authoritative analysis of business and investment issues, it’s an essential business tool in the daily battle for competitive advantage. Today's business decision-makers have to cope with increased pressure on their time and are expected, more than ever before, to succeed in the face of stiffer competition. Finweek provides relevant information in quick bytes, along with award-winning investment advice.

South Africa
Media 24 Ltd
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25 Edities


2 min.
from the editor

the day before this edition of finweek went to print, Stats SA released our economic growth figures for the third quarter of 2019. While expectations were low, the 0.6% contraction hit hard and reaffirmed the stark reality that our economy grew by only 0.1% from the comparative period in 2018, growing 0.3% in the first three quarters of this year. If ever we needed a quantitative depiction of what it means to go nowhere slowly… These dismal growth figures are yet another set of numbers that tells us our economy is in a deepening crisis. Just add them to the R450bn-plus of Eskom debt. Or an unemployment rate of 29.1%. This year, on what seemed to be a daily basis, South Africans were bombarded with reports revealing more damage, corruption and malfeasance –…

1 min.
finweek - english

EDITORIAL & SALES Acting Editor Jana Jacobs Deputy Editor Jaco Visser Journalists and Contributors Simon Brown, Johan Fourie, Moxima Gama, Mariam Isa, Glenneis Kriel, Schalk Louw, David McKay, Maarten Mittner, Johan Myburg, Timothy Rangongo, Petri Redelinghuys, Melusi Tshabalala, Glenda Williams Sub-Editor Katrien Smit Editorial Assistant Thato Marolen Layout Artists David Kyslinger, Beku Mbotoli, Nadine Smith Advertising Paul Goddard 082 650 9231/paul@fivetwelve.co.za Clive Kotze 082 335 4957/clive@mediamatic.co.za 082 882 7375 Sales Executive Tanya Finch 082 961 9429/co.za Publisher Sandra Ladas sandra.ladas@newmedia.co.za General Manager Dev Naidoo Production Angela Silver angela.silver@newmedia.co.za Share your thoughts with us on: @finweek finweek finweekmagazine…

4 min.
where are the us-trained african economists?

every time that I visit a US university, I am struck by the absence of African students studying at the world’s leading economics departments. In November, I was a visiting scholar at the Becker Friedman Institute, a generous offer to interact with some of the leading thinkers of our time. I sat in workshops and had meetings with peers across different fields. One of the most memorable events was to listen to recent Nobel laureate Abhijit Banerjee discuss his latest book, Good Economics for Hard Times. Yet something was amiss. There were almost no other African scholars – at least not in the economics departments or those institutions associated with the subject. You would find several faculty and students from other developing countries, such as Colombia, Pakistan, Turkey and Thailand. However, not…

5 min.
moody’s downgrade unlikely a disaster

the inevitable Moody’s Investors Service downgrade – which will strip South Africa of its last investment-grade credit rating next year – will not be the cataclysmic event that many expect, as foreign investors have already sold off a large chunk of their holdings of government bonds, and market prices now reflect that scenario. For the past year, anticipation of the downgrade and uncertainty overwhen it would happen has kept investors and businesses on edge and sparked speculation of massive, sudden outflows from the bond market which would hit the rand, increase inflation and lead to higher interest rates. An alarming deterioration in public finances flagged byTreasury in its medium-term budget policy statement in October2019 cemented those concerns and prompted both Moody’s and Standard & Poor’s to slap a negative outlook on…

6 min.
the decade in review

“A WEEK OR TWO AFTER THE CRISIS HIT, ANALYSTS WERE STILL DECLARING IT A BUY.” − Christo Wiese, former chairman of and largest shareholder in Steinhoff, speaking to finweek about the Steinhoff crash of December 2017, which saw the company shed more than 80% of its share price in a week. The slump was triggered by Steinhoff’s announcement of accounting errors stretching back to 2016, highlighting the extent of wrongdoing at the company. Wiese lost almost R50bn — a loss so great that he fell from the Forbes list of the wealthiest businesspeople. “When a country (US) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win.” – President Donald Trump in a tweet dated 2 March 2018. The…

7 min.
sa suffers as cybercrime rises globally

cybercrime is increasing at an alarming rate across the world and has become one of the biggest threats faced by companies, governments and individuals as the spread of digital technology and connectivity makes every form of human activity vulnerable to attack. Global research company Cybersecurity Ventures predicts that the damages from cybercrime may cost the world $6tr a year by 2021, up from $3tr in 2015. Its estimates include everything from the damage, theft, and destruction of data, to stolen money, lost productivity, the cost of recovery from an attack and reputational harm. Cybercrime may cost the world $6tr a year by 2021, up from $3tr in 2015. A more grounded figure from US global computer security company McAfee puts global losses in 2017 at $600bn, which nonetheless amounts to more than the…