Cape Times 2024-09-19

DEPUTY Finance Minister David Ma- sondo has urged retirement funds, including asset managers, to rethink how they have done business in the past and assist the economy to achieve high levels of growth. This comes as the debate rages on about the government permitting pension funds to invest 45% of their capital in infrastructure projects after the National Treasury published the final amendments to Regulation 28 of the Pension Funds Act in 2022. Regulation 28, issued in terms of Section 36(1)(b) of the Pension Funds Act, protects retirement fund member savings by limiting the extent to which funds may invest in a particular asset or in particular asset classes, and prevents excessive concentration risk. It also includes a framework for pension funds to allocate up to 45% of their assets…

STATISTICS SA (StatsSA) announced yesterday that headline consumer inflation in South Africa fell to 4.4% year-on-year in August from 4.6% in July, with this being the third consecutive month of inflation falling. In month-on-month terms inflation was at 0.1% in August compared to 0.4% a month before. “This is the lowest inflation print since April 2021 when the rate was also 4.4%. Lower annual rates were recorded for several product groups, most notably transport, housing, and restaurants and hotels. “In contrast, inflation for food and non-alcoholic beverages and alcoholic beverages & tobacco edged higher in August,” StatsSA said. The data released will be music to the South African Reserve Bank’s Mone- tary Policy Committee, giving them leeway to finally decide on a reduction of the repurchase rate later today. Reza…

The dry bulk terminal has annual capacity to export in excess of 7million tons GRINDROD is looking to benefit more from increased usage of ports in Mozambique by South African exporters and importers due to constraints being experienced by Transnet, prompting the logistics company to bump up its interest in a company that owns a dry bulk terminal in Mozambique by 35% to 100% for a consideration of $77 million (R1.35 billion). The 35% has been snapped up from Grindrod’s partner in the asset, Vitol, which is based in Mauritius. Grindrod will pay $55m upfront and the remainder in quarterly instalments of $1.375m. Logistical constraints are hobbling South African exporters, including bulk miners and other export producers. Some miners have had to cut production after stockpiles of ore and…

The NATIONAL Solar Water Heater (NSWH) programme of the Department of Minerals and Energy (DMRE) that is meant to install 5 million units in households by 2030 hit a snag on the first 82 000 units. This as R324 million in fruitless and wasted expenditure was accrued from extensive storage costs, while many units have been stolen or vandalised in municipal and government facilities. Updating Parliament’s Portfolio Committee on Energy and Electricity, the director-general at the DMRE, Jacob Mbele, and chief director for programmes and projects management office, Elizabeth Marabwa, said the department was currently reviewing the responses of officials implicated in a KPMG investigation into the fruitless and wasteful expenditure, which accumulated after 2022 when the department claims to have controlled the high storage costs.…

IN THE LABYRINTH of investment decisions, even the most experienced investors can find themselves ensnared by cognitive traps. The mental blind spots, known as investor biases, can lead us astray, clouding judgement and distorting reality. It is imperative for investors to recognise and combat the biases to navigate the markets effectively. Let’s shed light on six of the most prevalent investor biases. Confirmation Bias: Picture this: you are bullish on a stock, so you eagerly devour news articles and analyst reports that validate your optimism. You conveniently overlook any contrary evidence that might challenge your stance. This is confirmation bias at play – the tendency to seek information that confirms our beliefs while disregarding conflicting data. Loss Aversion: The pain of a loss exceeds the joy from an equal…

IN THE PRODUCT and marketing matrix, events are essential for the advancement of brand visibility, the cultivation of meaningful connections and the shaping of perceptions. Eventing agencies are responsible for transforming ideas into impactful experiences, providing a diverse selection of event types that are tailored to satisfy specific business objectives. At The Allure Group, we have successfully organised corporate conferences, award ceremonies, product launches, gala dinners, trade shows and internal corporate events. Experience has demonstrated that contemporary clients require assistance that transcends just logistical support. They are in search of agency partners who possess a flawless capacity to execute intricate events, strategic insights and creativity. Clients are prioritising: 1. The development of creative concepts. Clients desire an agency that can convert their vision into an engaging and innovative experience.…