Podcasts about R80

At just eight-years-old, Emily Eloff is making waves in the BMX racing world. Currently ranked number one in South Africa in her age group, Emily has been passionate about BMX racing since the age of five. "I think I am very brave, not scared and I love riding my bike very fast," she says, attributing her success to her bravery and dedication to training. Emily's journey began when she was just four-years-old, watching her friend Chad race his BMX. She nagged her parents to buy her a BMX bike and on her fifth birthday, she got one. Despite falling during her first race, Emily was determined to continue riding. "I fell during my very first race but I was brave and didn't want to stop riding," she recalls. Now, Emily is set to take her talents to the international stage, competing in the UCI BMX World Championships in Copenhagen, Denmark, from 29 July to 3 August, 2025. "I am very excited to go on an aeroplane and race my BMX overseas for South Africa," she says, admitting to getting butterflies in her tummy when thinking about it. "I can't wait to meet all my BMX heroes." As a role model for young girls, Emily encourages others to take up the sport. "I would like it if I could get more girls to come and race BMX with me. It is exciting and so much fun," she says. Her advice to younger kids is to visit a BMX track and watch the racers in action. To make her dream a reality, Emily's family is looking to raise R80,000 to cover expenses such as travel, competition fees and race kit. With the support of donors, Emily will be able to represent South Africa with pride on the international stage.

The Democratic Alliance (DA) is calling for President Cyril Ramaposa to fire Minister Khumbudzo Ntshaveni amid allegations of fraud and corruption. This follows revelations of Ntshavheni's alleged involvement in R2.5 million questionable transactions during her time at Ba-Phalabora Municipality.The investigation has now grown into an R80 million fraud probe by the Hawks. The DA argues that the President's hesitation highlights the need for a dedicated committee to oversee the presidency. For more on this, Elvis Presslin spoke to Dianne Kohler Barnard MP and DA Spokesperson on State Security

Our friends at King Price Insurance are assisting the Boksburg Kidz Clinic with a donation of R80,000 to help restore and replace what is needed to support the most vulnerable children in the East Rand community. The Good Morning Angels Fund added another R50,000 donation towards the rebuilding of the Boksburg Kidz Clinic, to help them emerge stronger than ever, to benefit children in need affected by abuse.

Zweli was having a meal with a friend and when it came to paying the bill, his friend gave the waitress a R100 tip when the meal only came to R80! It seems like an outrageous thing to do but the waitress was very grateful and makes you realise how important tipping is!   How do you go about tipping when you go out? What is important for you in order to give a good tip?See omnystudio.com/listener for privacy information.

Motheo Khoaripe profiles Samantha Pokroy, founder and CEO at Sanari Capital. SanariCapital, a private equity firm that invests in medium-sized and mid-market growth companies emanating from Africa, has announced a R80 million follow-on investment in EduLife Group. The investment will allow Edu Life Group to further entrench their schools in existing regions and expandinto other provinces.See omnystudio.com/listener for privacy information.

South Africa is grappling with a student accommodation crisis with students often living in unsafe conditions in decaying areas or far from their campuses. The Department of Higher Education's Student Housing Infrastructure Program aims to address this issue, but requires R7 billion annually to achieve 300,000 beds  targeted and R80 billion for 150 projects. for more on this Elvis Presslin spoke to Gregory Mofokeng, Stakeholder Manager of K-SL group 

This audio is brought to you by Wearcheck, your condition monitoring specialist. Energetic Northern Cape copper mining company Copper 360 this week produced the first concentrate from the plant it has just acquired from Nama Copper, which becomes its second concentrator plant and virtually doubles the Johannesburg Stock Exchange AltX company's production capacity. Moreover, the Nama Copper plant has exceeded structural integrity and performance expectations, Copper 360 stated in a stock exchange news service announcement. "We started the plant up last week and yesterday we produced our first concentrate," fast-moving Copper 360 CEO Jan Nelson enthused during a Teams interview. (Also watch attached Creamer Media video.) Copper 360's current focus is to get the two concentrate plants fully operational on view of the significant cash flow that they will generate. At this rate, the pure copper play will be producing close to 1 000 t of copper metal in the next two to three months from the three plants now in operation - the copper platemaking solvent extraction and electrowinning (SX/EW) plant, the modular flotation plant one (MFP 1), which will be in production in the next few months, and now MFP 2, which is already producing. "We've concluded the due diligence on the asset and we've paid the R150-million million of the R200-million that's due and the further R50-million will be funded from three tranches out of future offset on the offtake agreement so, in effect, we've paid the capital that was required. We still need a Section 11 consent but that allows us on a lease basis to run the plant. "We bought Nama Copper because that gives us a second concentrator plant. This has the capacity to treat 20 000 t of rock at about 1.4% copper, It will produce 230 t of copper metal at between 30% to 40% copper concentrate. "The commissioning has gone well. We've already produced copper concentrate within the first four to five days of starting up the plant, and we've had very little problem with the plant," Nelson outlined. A new offtake agreement has been concluded with Fujax UK, an international commodity trading company, which will purchase all the concentrate produced by Nama Copper's MFP 2 on attractive, market-related terms for a period of ten years. Fujax is described as a sort of a sister company to Nama Copper. "They've negotiated very good commercial terms with us for the copper concentrate. We get almost 85% of the existing copper price. But what's important is that the concentrate is taken up at the mine gate, and we receive almost 90% of the concentrate value within a few days, which is very good for us. "With the copper price now shooting up to $9 000/t, this is exactly the right time for us to get into production," Nelson noted. Coming with the deal is a large land area, as well as some 22-million tons of tailings with a copper content of between 0.3% and 0.6% copper. This resource, which represents between R12-billion to R24-billion in copper metal in the ground at a copper price of $9 000/t and an exchange rate of R19 to the dollar, could result in a significant increase of Copper 360's measured and indicated resource category upon further confirmatory drilling. MINE COMMISSIONING Copper 360's Rietberg mine is going into commissioning phase. "We've started the opening of the mine. Our heavy mining equipment is arriving this week, and then we've got some significant drillhole intersections and we're pushing quite hard on that. "When they're in steady state, the revenue from those two plants is almost R80-million rand a month. That'll be the focus along with getting Rietberg into production safely and on time and producing rock. "From there on, the next major focus point will be the construction of a solar plant, and we're in discussions about that, to augment our current energy. "We've just also finished the construction of a generator farm on our operations and where we had about 60% availability as a result of the off-...

Craig Ray is The Sports Editor of Daily Maverick breaks down the brewing legal battle involving the top four unions - Stormers, Sharks, Lions, and Bulls - who are gearing up to challenge the requirement of paying a staggering R80 million in hosting fees for the upcoming Test matches. See omnystudio.com/listener for privacy information.

ActionSA has brought a motion of no confidence against Johannesburg Mayor Kabelo Gwamanda. The motion will be tabled at the next Ordinary Council meeting set to take place on 31st August. The party says with a budget close to R80 billion, the City needs a credible leader at its helm. Gwamanda faces serious accusations of running a Ponzi scheme which stole from residents in Soweto. His educational qualifications have also come under scrutiny. For more on this Elvis Presslin spoke to Nobuhle Mthembu, ActionSA City of Johannesburg Caucus Leader.

On Friday, 31 March, Martin Bester gave away R80,000 after one of our listeners correctly guessed the #SecretSound.

In this week's episode we talk to Lester Philander, a property investor and the founder of Corp Cafe based in Muizenberg, South Africa.   He started his property journey by making an offer on a property in Mitchell's Plain, but ended up quitting his job to start his business after getting the initial approval but not the final approval, so the process fell through. A few years later, he and his wife bought their first property to live in Muizenberg and later bought a second property with 3 units on the premises to help family members by renting it out to them. They are now planning to rent that property out to other tenants.   During Covid, he announced that a lot of coffee shops were closing down. So he developed a concept called “rent my restaurant.”   He invested R80,000 into a restaurant, signed a lease and confirmed a lease and then rented out the property to a restaurant owner. The idea was that as a restaurant owner, you would then lease the restaurant with everything in it and you just focus on managing the restaurant and paying them a set fee of R10,000 a month.   The result was great, but he realized that he wanted to make more than R10,000 a month and that Cape Town had more coffee shops per capita than New York City, which means that for a coffee shop to succeed they need to offer a bit more than other coffee shops on the market.   They then started a franchise model (Corp Cafe) where their franchisees can become a hands off restaurant owner (they manage the coffee shops for you), where they buy the franchise for R450,000 and in return Corp Cafe will manage the restaurant and pay the franchisee R10,000 a month (a 24% yield per annum) and reinvest the extra R20,000 profit and leave it in the business bank account for the franchisee to use at a later date.   They currently have 10 stores open and they plan to set up two stores every single month from now on.   This is a really incredible episode.

Construction sector activity moved strongly into positive territory in the third quarter of the year, with the latest Afrimat Construction Index (ACI) outperforming the overall economy. The latest gross domestic product (GDP) data released by Statistics South Africa pointed to a real growth rate of 1.6% (quarter-on-quarter) for the economy as a whole, with the construction sector recording real growth in value-added of virtually double this rate, at 3.1%. Afrimat is a midtier openpit mining company and provider of industrial minerals, bulk commodities, construction materials, future materials and metals. The ACI is a composite index of the level of activity within the building and construction sectors compiled by economist Dr Roelof Botha, on behalf of Afrimat. Botha points out that the ACI has now virtually fully recovered from the effects of the Covid-19 pandemic. “At an index value of 123.4, the ACI is now 23.4% higher than the base period, which was the first quarter of 2011.” He adds that the ACI remains lower than its record-high index value of above 140 in the third quarter of 2016 – “a clear indication of the erosion of investor confidence that characterised the latter years of the State-capture era”. The ACI is made up of nine indicators. When studying the performance of the individual indicators, it confirms a reversal of fortunes from the second quarter of the ‘Value of wholesale sales of construction materials', which was the star performer during the third quarter. “This key indicator has increased by 13.3% to an all-time record high of R42.5-billion, quarter-on-quarter, in real terms,” says Botha. “Together with a double-digit real growth rate quarter-on-quarter in the ‘Volume of building materials produced', these two indicators ensured a hefty quarter-on-quarter growth rate for the ACI of 7.2%,” says Botha. Despite the positive news, Botha is concerned about the slow pace of recovery of gross fixed capital formation in the economy. “Although new investment in productive capacity by the public and private sectors combined staged an impressive expansion of 5.5% from the second quarter and by 8.5% year-on-year in real terms, the third quarter figure of R239-billion is still more than 9% down on the third quarter of 2019. “What is more disturbing is that capital formation in the third quarter only represented 7.1% of GDP, a far cry from the global average of 26% and not remotely adequate for a country with a population of more than 60-million people that is expanding relentlessly.” Botha says that emerging markets such as Senegal, Chile, Croatia, India, Hungary and Mexico all enjoy capital formation:GDP ratios in excess of 20%. “Against the background of an expected tax revenue overrun of around R80-billion during the current fiscal year, it has become incumbent upon government to expedite expenditure on infrastructure – both for maintenance and for the expansion and improvement of network industries, especially energy, road and rail.” Botha points out that the fixed investment category for residential buildings was the only one to have expanded in real terms on both a quarter-on-quarter and year-on-year basis during July to September, with non-residential buildings and construction works still in the doldrums. “Unless government provides significantly more fiscal resources for infrastructure development in the 2023 budget and addresses the delays in tender processes, the construction sector will remain relatively subdued, ” warns Botha.

Construction sector activity moved strongly into positive territory in the third quarter of the year, with the latest Afrimat Construction Index (ACI) outperforming the overall economy. The latest gross domestic product (GDP) data released by Statistics South Africa pointed to a real growth rate of 1.6% (quarter-on-quarter) for the economy as a whole, with the construction sector recording real growth in value-added of virtually double this rate, at 3.1%. Afrimat is a midtier openpit mining company and provider of industrial minerals, bulk commodities, construction materials, future materials and metals. The ACI is a composite index of the level of activity within the building and construction sectors compiled by economist Dr Roelof Botha, on behalf of Afrimat. Botha points out that the ACI has now virtually fully recovered from the effects of the Covid-19 pandemic. “At an index value of 123.4, the ACI is now 23.4% higher than the base period, which was the first quarter of 2011.” He adds that the ACI remains lower than its record-high index value of above 140 in the third quarter of 2016 – “a clear indication of the erosion of investor confidence that characterised the latter years of the State-capture era”. The ACI is made up of nine indicators. When studying the performance of the individual indicators, it confirms a reversal of fortunes from the second quarter of the ‘Value of wholesale sales of construction materials', which was the star performer during the third quarter. “This key indicator has increased by 13.3% to an all-time record high of R42.5-billion, quarter-on-quarter, in real terms,” says Botha. “Together with a double-digit real growth rate quarter-on-quarter in the ‘Volume of building materials produced', these two indicators ensured a hefty quarter-on-quarter growth rate for the ACI of 7.2%,” says Botha. Despite the positive news, Botha is concerned about the slow pace of recovery of gross fixed capital formation in the economy. “Although new investment in productive capacity by the public and private sectors combined staged an impressive expansion of 5.5% from the second quarter and by 8.5% year-on-year in real terms, the third quarter figure of R239-billion is still more than 9% down on the third quarter of 2019. “What is more disturbing is that capital formation in the third quarter only represented 7.1% of GDP, a far cry from the global average of 26% and not remotely adequate for a country with a population of more than 60-million people that is expanding relentlessly.” Botha says that emerging markets such as Senegal, Chile, Croatia, India, Hungary and Mexico all enjoy capital formation:GDP ratios in excess of 20%. “Against the background of an expected tax revenue overrun of around R80-billion during the current fiscal year, it has become incumbent upon government to expedite expenditure on infrastructure – both for maintenance and for the expansion and improvement of network industries, especially energy, road and rail.” Botha points out that the fixed investment category for residential buildings was the only one to have expanded in real terms on both a quarter-on-quarter and year-on-year basis during July to September, with non-residential buildings and construction works still in the doldrums. “Unless government provides significantly more fiscal resources for infrastructure development in the 2023 budget and addresses the delays in tender processes, the construction sector will remain relatively subdued, ” warns Botha.

Kennedy Bungane, African Bank's CEO takes Bruce Whilftield thourgh the idea to acquire of majority of Ubank's assets, liabilities and staff for R80 million.   The Money Show Explainer: Why price-fixing and collusion is bad. Prof Adrian Saville, Investment Specialist at Genera Capital analyses the economic cost of collusion.     Friday File: A glamping experience with Camp CanoeSee omnystudio.com/listener for privacy information.

After going gangbusters in July, share markets in the US (and SA) took a breather yesterday easing back a few points. On the local market, a trading update from coal producer Thungela Resources revealed a 20x jump in its profits for the six months to end June, supporting a surge from R80 to almost R300 in its share price this year. Also in this episode of the BizNews Breakfast Briefing, China is moving back onto centre stage as its Belt and Road initiative hits major obstacles with some recipients of Beijing's loans needing to expand them just to meet interest commitments. Learn more about your ad choices. Visit megaphone.fm/adchoices

Eskom Holdings said it will give the transmission unit that it's transforming into a separate entity a R39.9-billion loan to make sure it can complete projects and be financially viable. The loan will be guaranteed by the transmission unit's assets with Eskom's creditors able to call on them if the utility doesn't pay them, it said in a presentation to creditors on Thursday. Government guarantees will remain in place. The company will be known as the National Transmission Company of South Africa, or NTCSA. Eskom's board will approve an annual borrowing plan for the transmission company and this will come in the form of inter-company loans, the utility said. Any borrowing over and above the plan will need to be approved by Eskom. The South African state power utility, which is R396-billion in debt, is separating into transmission, generation and distribution units that will operate as separate entities in a bid to improve its operational and financial performance. The company has subjected South Africa to intermittent power outages since 2008. The transmission unit, which will be the first business to be separated, will take control of employees, contracts and assets when all conditions are met including obtaining licenses from the national power regulator. TRANSMISSION NETWORK Its purpose is to act as a national transmission network operator and a system market operator, allowing it to take in electricity from Eskom and privately run power plants as well as channeling imports from countries such as Mozambique. The company's assets and liabilities will match at R80.5-billion each and will include a R20.8-billion equity injection from Eskom, according to the presentation. From later this year the regulator will be asked to determine a separate transmission tariff, which will provide the company with revenue, while Eskom will still use a generation and distribution tariff. “The resulting specific transmission tariff should be sufficient to enable NTCSA to run its operations in a manner that is cost efficient,” Eskom said in the presentation.

A cocky Navy pilot, on a secret miniaturization mission, is accidently injected into the body of a neurotic grocery store clerk, forming an unlikely partnership. Tune in as Chris jaws about Warner Brothers, submersibles, & lazy marketing as the LSCE screens the Joe Dante 1987 comedy sci-fi cult classic “Innerspace.” Join us! Check us out at www.lscep.comSubscribe, Like, & Review. Did you know that we are on Amazon Music Now? I KNOW! Awesome, right? Works Cited: Cart. (1987, Jun 24). Film reviews: Innerspace. Variety (Archive: 1905-2000), 327, 13. Accessed from https://www.proquest.com/magazines/film-reviews-innerspace/docview/1438475262/se-2?accountid=11578 on 1/20/22 Dante, Joe.Innerspace DVD Commentary. Warner Brothers. 2004. Ebert, Roger. (July 1, 1987) Innerspace. Chicago Sun Times. Accessed from https://www.rogerebert.com/reviews/innerspace-1987 on 1/19/22. Geraghty, Lincoln. “Love's Fantastic Voyage: Crossing Between Science Fiction and Romantic Comedy in Innerspace.” Extrapolation 47, no. 1 (2006): 123–133. Innerspace. Box Office Mojo. https://www.boxofficemojo.com/title/tt0093260/ Accessed 1/19/2022. Lambie, Ryan ( January 12, 2017) “The Underrated Brilliance of Joe Dante's Innserspace.” Den of Geek. https://www.denofgeek.com/movies/the-underrated-brilliance-of-joe-dantes-innerspace/ Accessed on 1/18/2022. Summers, Jimmy. “INNERSPACE.” Boxoffice 123, no. 9 (1987): R80–. --- Send in a voice message: https://anchor.fm/lsce/message

Dit sal vir my baie beteken as jy kan subscribe tot die podcast, vir R80 'n maand: selfs al kan jy verniet hierna luister. Besoek my website, al die details is daar. www.wynvirdiepyn.com --- Send in a voice message: https://podcasters.spotify.com/pod/show/wynvirdiepyn/message

Dit sal vir my baie beteken as jy kan subscribe tot die podcast, vir R80 'n maand: selfs al kan jy verniet hierna luister. Besoek my website, al die details is daar. www.wynvirdiepyn.com --- Send in a voice message: https://anchor.fm/wynand-kotze8/message

Hi daar! Besoek my website en subscribe tot my podcast vir R80 'n maand. Jy kan ook verniet na alles luister, maar ek sal dit baie waardeer as jy my op hierdie manier sal ondersteun. Ek het nie "merch" nie. Hempies krimp in die wasmasjien. www.wynvirdiepyn.com In hierdie episode: Erika vertel van haar ondervinding in 'n cult met die naam "KwaSizabantu" en hoe ONS hulle dalk al vir jare ondersteun. Sy't ook 'n boek hieroor geskryf met die titel "In Mission of Malice: My Exodus from KwaSizabantu". Hierdie episode is nie vir sensitiewe luisteraars nie. --- Send in a voice message: https://podcasters.spotify.com/pod/show/wynvirdiepyn/message

Hi daar! Besoek my website en subscribe tot my podcast vir R80 'n maand. Jy kan ook verniet na alles luister, maar ek sal dit baie waardeer as jy my op hierdie manier sal ondersteun. Ek het nie "merch" nie. Hempies krimp in die wasmasjien. www.wynvirdiepyn.com In hierdie episode: Erika vertel van haar ondervinding in 'n cult met die naam "KwaSizabantu" en hoe ONS hulle dalk al vir jare ondersteun. Sy't ook 'n boek hieroor geskryf met die titel "In Mission of Malice: My Exodus from KwaSizabantu". Hierdie episode is nie vir sensitiewe luisteraars nie. --- Send in a voice message: https://anchor.fm/wynand-kotze8/message

Negligence in medical care in the health sector may lead to serious post-operative complications and long-term harm. In 2019, South Africa's provincial health departments faced medical malpractice claims totaling R80.4 billion. Many of these claims involve nursing malpractice in state hospitals or nursing homes.Chief among the acts of negligence alleged is finding a swab was left inside a patient's abdominal cavity. To discuss this Udo Carelse spoke to Mthokozisi Maphumulo, Associate and Litigation Attorney at Adams and Adams

It will, most likely, take half a decade before the South African economy returns to the level it was at the end of 2019, says Absa chief economist Jeff Gable. “And 2019 was a miserable year for South Africa – the economy grew barely 0.5%. On top of that we weren’t doing great in the previous years either. So the baseline of 2019 is very undemanding.” In January, Absa’s forecast for economic growth was between 1% and 1.5%, with the expectation that at the end of 2021 the size of the economy, adjusted for inflation, would be roughly 3.5% bigger than it was at the end of 2019. Then, however, Covid-19 happened. Now Gable expects that the domestic economy will still be 4.5% weaker at the end of 2021 than at the end of 2019, with “the end of 2019 far from a promising position for South Africa”. “It will be late 2024, 2025, before South Africa can get back to where we were at the end of 2019. “The impact of Covid-19 is very substantial. It is going to be very long-lasting.” Industries in South Africa that will show a greater than 20% contraction this year will be catering/accommodation (greater than 60%), construction and the motor trade, says Gable. The manufacturing, mining and transport sectors are likely to contract by between 10% and 20%, with the real estate, electricity, personal services and retail sectors to shrink by between 5% and 10%. The only two sectors to show growth will be telecoms and agriculture, with telecoms benefitting from the increased use of IT services during Covid-19, and the agriculture sector reaping the benefits of a good rainy season. With the Covid-19 global economic shock bigger than the great depression in the early 1930s, it is expected that South Africa will continue to shed jobs, adds Gable. With an estimated million jobs already lost in the formal sector, “I have a strong expectation that it will get worse before it gets better”. If the forecast is that South Africa will take a half a decade to return to where it was in 2019, it means that businesses will, in the meantime, most likely be smaller than in 2019 – which means that their ability to hang on to excess staff will “probably be pretty modest”, says Gable. The one-million jobs already lost will add to South Africa Inc’s smaller wallet, with between R80-billion and R300-billion in consumer spend disappearing. Government’s drive to decrease the public sector wage bill is expected to further add to the drop in consumer spending.

The East Coast Radio Summer Body Bootcamp invites YOU to get your body ready for summer at an outdoor fitness bootcamp on the 28th Of November! It's R80 per person and tickets are available at Quicket , via the ECR events page. Sweat it out with your host; Stacey Norman at Chris Saunders Park, Umhlanga. Pack your yoga matt, sunscreen and lace up your trainers because working out has never been this fun! Keri Miller will be hosting your best Yoga class in your life ever.

As a beginner property investor I was very unsure of what I was doing and learned some expensive lessons along the way. I hope that my story about how I lost R80 000 on one of my very first property deals will help you to avoid these mistakes in your journey of property investing. With 0 property experience behind me and a career of 21 years in a corporate environment I could never have anticipated the issues I would run into. This is the first time ever that I am sharing this story. I don't generally like to talk about the pain that I experience in my journey and to be honest it is just plain embarrassing to share some of the stupid things I did. Anyways, it is all worth it if someone can learn from it.... Don't forget to like this podcast and subscribe to our channel. Add us on Facebook M5PropertyAddicts | TauraiJackZA www.m5propertyaddicts.com Join our private M5 Capital Investor Facebook Group: https://www.facebook.com/groups/M5Capital/?source_id=2089596351252662 Join our community of like minded people making wealth through property - https://m5propertyvarsity.com For business inquiries or one-on-one property mentoring, you can reach me at taurai@m5propertyaddicts.com / Retha@m5propertyaddicts.com Get a copy of Taurai's book | From Bad Debt to Property Mogul in 2 years. www.tauraijack.com --- Send in a voice message: https://anchor.fm/m5successfulfriends/message

The president spoke about building a new economy on Thursday in the wake of Covid 19. It's important to bare in mind the most important change from pre-COVID-19 SA, was a lockdown-induced tax collapse of R304billion. Additional funding from the World Bank and other international financial institutions only amounted to about R80 billion in additional resources, not close to the tax revenue deficit. The precarious balance between the proverbial "rock" of procyclical fiscal policy and the "hard place" of debt unsustainability is a difficult one to strike. Did the president strike that balance? Michael Avery talks Busi Mavuso, Chief Executive Officer of Business Leadership South African and Board Member of Eskom; Duma Gqubule who is an economist and founder of KIO Advisory Services and Hugo Pienaar the Chief Economist at the Bureau for Economic Research

The president spoke about building a new economy in the wake of Covid 19. It’s important to bare in mind the most important change from pre-COVID-19 South Africa, was a lockdown-induced tax collapse of R304 billion. Additional funding from the World Bank and other international financial institutions only amounted to about R80 billion in additional resources, not close to the tax revenue deficit. The ban on cigarette and alcohol sales alone cost the fiscus R10-billion over four months in excise taxes, and created an extensive black market in smuggled goods This means that government is, for all intents and purposes, spending money that it does not have and has little prospect of generating through tax revenue in the short to medium term. Losses incurred by firms who are fortunate enough to survive the COVID-19 pandemic over the lockdown period, will be carried over to subsequent years. The sheer scale of the brazenly callous COVID-19-related tender corruption that saw political elites benefit while huge numbers of the populace starved, will further undermine tax legitimacy and morality. Tax compliance which sat at just under 70% in 2013, fell to 65% in 2019 and is set to plummet further, as middle class taxpayers who are facing suspended services or degraded service quality and rolling blackouts, bear the brunt of increased administrative prices, become increasingly disaffected and “gatvol”, which may culminate in a tax revolt. Hopefully e-toll resistance is not a portent of things to come. The precarious balance between the proverbial “rock” of procyclical fiscal policy and the “hard place” of debt unsustainability is a difficult one to strike. Did the president strike that balance today? Michael Avery got the reaction from Gareth Ackerman scion of the Ackerman retail dynasty and Chairman of Pick n Pay. Peter Attard Montalto of Intellidex Tony Ehrenreich, Deputy Parliamentary Coordinator of Casatu & George Glynos, co-founder at ETM Analytics

An analysis of public infrastructure delivery in South Africa, prepared for consideration by the National Planning Commission (NPC), identifies the quality of procurement and client-delivery management as the main differentiators between those projects that have succeeded in recent years and those that have failed. Prepared by engineers Dr Ron Watermeyer and Dr Sean Phillips the analysis shows that, when a public-sector client adopts a strategic, rather than an administrative, stance to the design, procurement and implementation of infrastructure projects, value for money is typically secured. By contrast, when no distinction is made between the procurement of infrastructure and the acquisition of general goods and services and when that procurement is led by finance departments rather than at an enterprise level, led by the CEO, projects tend to run over budget and behind schedule. In their paper, the authors juxtapose several megaprojects, such as Eskom’s Medupi and Kusile, which have fallen short of original cost and schedule estimates, against two project-delivery success stories: the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) and Strategic Integrated Project 14 (SIP 14), which involved the building of two new universities. Under the REIPPPP, government’s Independent Power Producer (IPP) Office oversaw the procurement, through seven bidding rounds, of 6 422 MW of renewables capacity, built by 112 IPPs at a cost of R209.7-billion. Under SIP 14, the Department of Higher Education and Training employed the University of the Witwatersrand as its implementation agent for the construction of new campuses in Nelspruit, Mpumalanga and Kimberley, in the Norther Cape. Facilities for the first intake of students were delivered within 28 months of a political decision being taken in 2011. The costs deviation was also modest, despite the project proceeding before many of the contracts had been priced. Phillips and Watermeyer tell Engineering News that, in the case of the REIPPPP, the quality of the procurement process run by the IPP Office resulted in the development of trust in the procurement process by developers and financiers. This, in turn, contributed to a marked reduction in the cost of renewable energy through successive bid rounds. Key strengths of the new universities project, meanwhile, arose from client governance and organisational ownership practices, which provided effective direction and oversight of the organisation’s infrastructure delivery programme. In both instances, there was also CEO-level client leadership, which helped ensure that a strategic and tactical approach was adopted throughout. “Value for money is realised when the value proposition that was set for the project at the time that a decision was taken to invest in a project is as far as possible realised,” the authors explain. For those megaprojects that ran well over budget and behind schedule the gap between what was intended and what was achieved is material: The Gauteng Freeway Improvement Programme cost R17.4-billion rather than the R11.4-billion initially estimated; The Gautrain budget increase from an original estimate of R6.8-billion to R25.2-billion; The capital cost of Transnet’s New Multi-Product Pipeline grew from an estimate of R12.7-billion to R30.4-billion; While Eskom’s Medupi and Kusile projects surged from initial estimates of R70-billion and R80-billion respectively to R208-billion-plus for Medupi and about R240-billion for Kusile. Most of these projects have also seriously lagged their original delivery schedules. In their paper, the authors highlight a direct linkage between the role played by the client, or the organisation initiating the project and playing the role of the client, and infrastructure project outcomes regardless of size, complexity and location. “The root cause of project failure or poor project outcomes can most often be attributed to a lack of...

An analysis of public infrastructure delivery in South Africa, prepared for consideration by the National Planning Commission (NPC), identifies the quality of procurement and client-delivery management as the main differentiators between those projects that have succeeded in recent years and those that have failed. Prepared by engineers Dr Ron Watermeyer and Dr Sean Phillips the analysis shows that, when a public-sector client adopts a strategic, rather than an administrative, stance to the design, procurement and implementation of infrastructure projects, value for money is typically secured. By contrast, when no distinction is made between the procurement of infrastructure and the acquisition of general goods and services and when that procurement is led by finance departments rather than at an enterprise level, led by the CEO, projects tend to run over budget and behind schedule. In their paper, the authors juxtapose several megaprojects, such as Eskom’s Medupi and Kusile, which have fallen short of original cost and schedule estimates, against two project-delivery success stories: the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) and Strategic Integrated Project 14 (SIP 14), which involved the building of two new universities. Under the REIPPPP, government’s Independent Power Producer (IPP) Office oversaw the procurement, through seven bidding rounds, of 6 422 MW of renewables capacity, built by 112 IPPs at a cost of R209.7-billion. Under SIP 14, the Department of Higher Education and Training employed the University of the Witwatersrand as its implementation agent for the construction of new campuses in Nelspruit, Mpumalanga and Kimberley, in the Norther Cape. Facilities for the first intake of students were delivered within 28 months of a political decision being taken in 2011. The costs deviation was also modest, despite the project proceeding before many of the contracts had been priced. Phillips and Watermeyer tell Engineering News that, in the case of the REIPPPP, the quality of the procurement process run by the IPP Office resulted in the development of trust in the procurement process by developers and financiers. This, in turn, contributed to a marked reduction in the cost of renewable energy through successive bid rounds. Key strengths of the new universities project, meanwhile, arose from client governance and organisational ownership practices, which provided effective direction and oversight of the organisation’s infrastructure delivery programme. In both instances, there was also CEO-level client leadership, which helped ensure that a strategic and tactical approach was adopted throughout. “Value for money is realised when the value proposition that was set for the project at the time that a decision was taken to invest in a project is as far as possible realised,” the authors explain. For those megaprojects that ran well over budget and behind schedule the gap between what was intended and what was achieved is material: The Gauteng Freeway Improvement Programme cost R17.4-billion rather than the R11.4-billion initially estimated; The Gautrain budget increase from an original estimate of R6.8-billion to R25.2-billion; The capital cost of Transnet’s New Multi-Product Pipeline grew from an estimate of R12.7-billion to R30.4-billion; While Eskom’s Medupi and Kusile projects surged from initial estimates of R70-billion and R80-billion respectively to R208-billion-plus for Medupi and about R240-billion for Kusile. Most of these projects have also seriously lagged their original delivery schedules. In their paper, the authors highlight a direct linkage between the role played by the client, or the organisation initiating the project and playing the role of the client, and infrastructure project outcomes regardless of size, complexity and location. “The root cause of project failure or poor project outcomes can most often be attributed to a lack of...

Engineering and construction group Murray & Roberts (M&R) estimates that the Covid-19 pandemic had a R622-million negative impact on its results for the 2020 financial year, during which the company retreated into a lossmaking position. The JSE-listed group reported a loss before interest and tax of R17-million for the year to June 30, 2020, representing a sharp deterioration from the R847-million profit reported in the prior year. M&R’s attributable loss was R352-million, down from a profit of R337-million in 2019, while its diluted continuing headline loss was 88c a share, compared with the 114c-a-share profit recorded in the previous financial year. Revenue from continuing operations increased marginally to R20.8-billion, from R20.1-billion in 2019. The M&R board decided not to declare a dividend, in order to preserve the group’s financial position amid ongoing pandemic-related uncertainty. Besides the Covid-19 impact, the results were also negatively affected by several impairments, including an R80-million vendor-loan impairment relating to the sale of Genrec, now in business rescue, a R63-million goodwill impairment for two group companies and a R46-million impairment of uncertified revenue. CEO Henry Laas said the combination of the pandemic, the impairments and disappointing execution on a few projects “created a perfect storm for the group”. Expectations for economic recovery after Covid-19 were uncertain and revised frequently, he added in a statement released on Wednesday. “However, the relevance of natural resources – of commodities, utilities, energy and infrastructure – to a post-pandemic world, and the group’s exposure to these markets, support our view of strong growth in group earnings, especially after the 2021 financial year.” The value of M&R’s order book rose to R54.2-billion from R46.8-billion and ongoing order-book growth was listed as a priority for the 2021 financial year.

Laughing during these trying times can be difficult, but here are two people doing their best to try and make us keep doing exactly that. Lesedi and Dustin catch up with two well known legends of comedy, in this recent interview. Much like most parts of our lives, the mechanics of love and romance have certainly changed under the captivity of COVID-19 and whether you’re married or single, newly dating or separated, we’re all looking for new ways to navigate love under lockdown… In a slightly different take on a comedy show, Ndumiso Lindi and Tumi Morake tackle the roles and regulations of marriage and relationships and the pothole-laced roads the sexes have to navigate in their hit show, Married, But Not To Each Other: Lockdown Edition on the 9th of August, from the comfort of your own home. When asked how the show concept came about, Ndumiso retells the story of how the two were travelling on a comedy adventure and were asked by a customs official: “Are you married?”, to which Ndumiso replied: “Yes!”, realised what he was saying and added: “But not to each other.” And thus, began this comical journey for this wife and husband…of other people! Married, But Not To Each Other is not a show just about marriage, it’s about the world that these relationships have to survive in. Their unique brands of humour paired with their own risqué and hilarious experiences in marriage and romance makes for memorable viewing. The show will be an online broadcast at 8PM and carries a PG-16 restriction. Tickets at R80 are available for purchase on the following ticketing platforms: Hero Ticket and Ticketpro. Proudly brought to you by Blu Blood (www.blublood.com / @blubloodafrica). About the comedy duo: Ndumiso Lindi, comedy’s modern traditionalist and the gentleman of South African comedy, otherwise known as Roosta, effortlessly blends new-age style with old-school traditions. His deep voice, soul-warming smile, booming laughter, original content and seamless delivery makes for a comedy act that is outstanding and soulfully South African. With a comedy career spanning over 12 years and numerous outstanding credentials under her belt, bad momma of comedy - Tumi Morake - continues to be a formidable force in the comedy industry. Her edgy and unpredictable brand of comedy has wowed audiences around the globe. When she’s not on stage, Tumi Morake can also be seen on TV screens and radio airwaves as well as her channelling her talents into writing, acting and producing. Connect on social media: Facebook: TumiMorakeSA, NdumisoLindi Twitter: @tumi_morake, @NdumisoLindi #MBNTEO --- Support this podcast: https://anchor.fm/millertimemedia/support

Business Day TV — SA Tourism's CEO Sisa Ntshona has called on government to greatly increase financial aid for businesses in the sector. He says that while the state does face constraints due to its dire fiscal position, the existing package of R200m is "a drop in the ocean". The tourism sector is estimated to have already lost R54bn due to Covid-19 so far and is set to lose another R80.2bn in foreign-exchange receipts that would have been granted between May and December, according to government data. The industry has also stated that 400,000 jobs are on line due to the forced closures as a result of the coronavirus pandemic. Business Day TV spoke to Ntshona for more on where things stand in the sector.

In this podcast, Dustin "sits down" with Pete Goffe-Wood, and Chris Forrest, to talk about the upcoming online show this Saturday. Getting creative online (and in the kitchen), comic genius, Chris Forrest, and celebrity chef, Pete Goffe-Wood, are re-creating a night out by scrumptiously blending comedy and cooking together into the ‘Top Gear’ of cooking shows with their lockdown version of Don’t Burn Your Sausage on the 18th of July. The show will be a live online broadcast with Pete cooking from Tintswalo Atlantic in Cape Town and Chris from his home in Randburg. Deliciously funny and rather ‘whisk-qué, this cheeky duo will demonstrate how food and sex are delectably intertwined as they prepare the ultimate seductive 3-course meal with a naughty line-up that will have you salivating salaciously and crying with laughter. This refreshingly funny show is jam-packed with great humour and great cooking – with Chris working his special brand of South African humour alongside Pete Goffe-Wood’s unmatched cooking talent, candour and naughtiness. This pair will win over your hearts and your stomachs. Following sold-out shows in Grahamstown, Cape Town, Johannesburg and Windhoek, the duo has cleverly and successfully delivered this live food show to rave reviews from critics and adjusting to the times, this will be their first online show. “A show that indulges its audiences with a delicious starter, main course, dessert and suggestive humour.” – SowetanLive “A wonderful new and naughty twist on the good old cooking demo.” – Cue Media “Cheeky challenge for saucy duo.” – Weekend Post (PE) Chris Forrest has been on the SA comedy scene since the late nineties and Pete Goffe-Wood (best known as the Masterchef South Africa judge known to crack a joke or two), has been making great food for nearly 30 years. When the two of them met on the set of Celebrity Masterchef SA in 2015, they found that they had a couple of things in common – one of them being the same dry sense of humour and the other, a liking for mouth-watering, delicious food. After the series ended, they decided to combine their respective talents to bring you this culinary comedy show, the likes that have not been seen before in SA. The show promises to be an absolute hit for both food- and comedy-lovers alike. Tickets for Don’t Burn Your Sausage on the 18th of July are available at R80 via https://mzanzilive.tv/. The show starts at 20h00 CAT. Proudly brought to you by Mzansi Live in association with Tintswalo Atlantic and La Vierge. --- Support this podcast: https://anchor.fm/millertimemedia/support

In this week's episode we interview Nqabenhle Manana who has managed to build a property portfolio of 105 properties in 13 years.  Nqabenhle bought his first property for his grandmother and his second house his wife and kids. He looked at how hard the executives at his company were working and how much they earned and started having doubts about the salary route; luckily a friend told him about Robert Kiyosaki's book, "Rich Dad, Poor Dad." One week after reading the book, he bought his first property, for R80, 000 (US$4,970) in Windsor East, Johannesburg, South Africa.  Three months later, he had his first tenant and was renting out the property for R2,500 (US$155) a month.  A few months later, he bought another house in the same complex and he was hooked - he saw how property could replace his income.  A few months later, a friend told him about investing in the CBD and he changed his investment strategy from buying houses to buying apartments in the CBD.  To grow his portfolio to 105 properties, he focused on: - Cashflow - Properties with a 20% return on investment  - Plowing back all his income into his property business  Click play to learn how Nqabenhle was able to do so much in 13 years.  Let us know your thoughts and insight on today's episode. 

Full TechTalk: https://community.checkpoint.com/t5/General-Management-Topics/What-s-New-in-R80-40-Management-TechTalk-Video-Slides-and-Q-amp/m-p/77184#M11276

There isn't a person in cricket who has seen as much as today's Maverick Sports podcast guest, but even by the wild standards of South African sport, the last two weeks in local cricket have been amongst the most dramatic ever. Not since the Hansie Cronje match-fixing scandal has South African cricket been in such a state of disarray. Ideally it should be in a state of introspection too, having lost an R80-million-a-year sponsorship from Standard Bank, having four board members resign, the CEO suspended pending a forensic audit as well as many other issues plaguing Cricket South Africa. Tony Irish, the outgoing CEO of the South African Cricketers' Association (Saca) has been at the coal face of many of the goings on and he shares his insights and experiences to reveal the inner workings of professional cricket in South Africa.

Daily Maverick — There isn’t a person in cricket who has seen as much as today’s Maverick Sports podcast guest, but even by the wild standards of South African sport, the last two weeks in local cricket have been amongst the most dramatic ever. Not since the Hansie Cronje match-fixing scandal has South African cricket been in such a state of disarray. Ideally it should be in a state of introspection too, having lost an R80-million-a-year sponsorship from Standard Bank, having four board members resign, the CEO suspended pending a forensic audit as well as many other issues plaguing Cricket South Africa. Tony Irish, the outgoing CEO of the South African Cricketers’ Association (Saca) has been at the coal face of many of the goings on and he shares his insights and experiences to reveal the inner workings of professional cricket in South Africa.

For the longest time I thought a progressive tax system referred to how we spend our tax money. Poor, naive me. It turns out that a progressive tax system means there's not one tax rate. How much tax you pay depends on how much money you make. Your tax rate gets progressively higher as you earn more income. In a way, you pay less tax on the money you make first.  The table below shows how your income is taxed. Unless you're in the lowest tax bracket, you'll notice a rand amount before the percentage you pay on your salary. When you multiply the highest amount in the tax bracket above by the corresponding tax bracket, you get to that rand amount. In other words, all the money you earned before you got to your current bracket is taxed at a lower rate.  A good way to think about this is by allocating a lower rate to the money you earn first. Let's say you earn R423,000 per year. This puts you at the upper end of the 31% tax bracket. However, since tax is progressive, you actually only pay 31% on everything above R305,850. In other words, you only pay a rate of 31% on R117,150, not on the full R423,000.  If you earn R423,000 per year, you earn R1,185 for every day of the year. Your first R195,850 is taxed at 18%. For the first 165 days of the year, your tax rate is therefore 18%. We got there by dividing the upper end of the first bracket by your daily income. For the next 92 days, your tax rate is 26%. The last 96 days of the year brings your tax rate is 31%. At this point you might notice there are 12 missing days in your year. Those are the 12 days the government gives you for free. Neat, eh? It's good to know the upper limits of your income tax rate, because income from interest or rental income gets added to all your other income and taxed accordingly. This affects your investment choices. If you notice that income from your investments might push you into a higher tax bracket, you can start making choices that might be more tax-efficient in the long run. Subscribe to our RSS feed here. Subscribe or rate us in iTunes. Win of the week: Chris Please tell fellow SA'ns traveling abroad, that the Revolut App is amazing.  You can transfer money into a wallet for 1.6% flat rate and from then on you pay zero fees.  You can also order a card for around R80 , but if you have Apple Pay it's not necessary as you can just link it.  You pay zero fees per transaction and get really decent conversion rates. It's much cheaper than any SA bank I've ever used.   Martina I have resigned from my job and October was my last month. I have been offered a scholarship to study overseas in Italy for six months. I have a small side hustle but will not be earning a stable income whilst I am abroad. I have no guaranteed job to come back to. However, I don't plan on going back to a corporate environment again. My work will pay out my pension fund which is through Momentum Funds At Work (which has not performed well in the last 2 years). Is it best to put my pension in a preservation fund or an RA?  My understanding is that preservation umbrella funds should carry lower costs / fees than preservation funds and retirement annuities available to individuals, but  the Momentum preservation fund fees are 0.76%. and Sygnia Skeleton Retirement Annuity fees are only 0.65%. I'm not sure if there are hidden fees and what the advantages are of putting it in a preservation fund vs a RA, besides being able to draw from a preservation fund before 55 as opposed to after 55 for an RA. Charmaine I heard that you can transfer your annuity from one provider to another for a fee of R650 or something.  I don't know if this is for living annuities only. If one has a RA with those money grabbers, there are high penalty fees. What are the options? Shall one turn it into a living annuity and then transfer it?. Shall one draw 17.5% just to get the money out. I think if the value is less than R247,000 you can take all the cash, with obvious tax implications What are one's options if you are stuck in an expensive retirement annuity? Frank  I too have been looking for an offshore investment broker and was looking at Degiro as well. I just wanted to share that unfortunately there have been recent changes in regulations in the EU which resulted in Degiro now requiring its clients to have both an EU bank account and be resident in the EU. That said all existing non-resident clients can remain clients. So it looks like the door on EU based brokers is solidly closed and I'll have to start looking at US investment brokers instead. Marco We're currently putting at least R10 000 extra into our bond access facility. This is also essentially our emergency fund. At current projections, we should get the house paid off by late 2023. My plan is to essentially arbitrage the interest on my house debt (8.9%) to fund a Tyme bank account that earns up to 10% interest.  The plan would essentially be to stop paying R10 000 extra into the bond, but put it into 10 day notice Tyme bank account. If we started with what we have currently saved up, and put in 10K a month from now, we should reach 220K around early-mid 2021 with monthly compounding, and then it should start paying ~23K a year in interest. Once this is achieved, resume paying the 10K into the bond as before, except now we have 23K a year extra to put into the bond, or an emergency fund that pays for 2/3rds of a TFSA every year (hopefully they increase this amount). If we put the 23K extra a year into the bond, we'll pay off the house by mid 2025(July 2025 ish), around 18 months after if we had just put the 10K a month into the bond.  The argument could be made that we can pay the bond off earlier (end of 2023), but then we're left with no emergency fund at the end of 2023, and have to essentially build it up. The 10K plus the extra money freed up by not having bond payments would build it up faster, and assuming Tyme has the same 10% account, to build up the emergency fund to 220K(probably higher with 6 years of inflation to add to living costs) would take around 12 months. Also, since my partner and I are married, double interest exemption can be gained per year eventually for the emergency fund. Although we really only would need around 220K for a 12 month emergency fund, so not enough to attract interest and dividends tax--we have no other interest earning amounts. I know the adage, "time in the market is better than timing the market" holds true, and this plan would limit our RA contributions and TFSA allocations for a year or two, but the payout would be a chunky enough emergency fund that pays 10% p/a and would contribute 2/3rds of one of our TFSAs--not bad for an emergency fund. Pieter  Do I need exposure to local equity? Assuming a 100% equity ETF portfolio, are there benefits to holding South African stocks in addition to global index ETFs? I know that the JSE has historically outperformed world indexes, but there is no guarantee this will always be the case. I am not pessimistic about SA, but I want to be optimally diversified. I am already invested in SA by virtue of the fact that I earn and save Rands. Is there a reason to put those Rands into South African stocks, other than to bet that the JSE will outperform the rest of the world? Marvin I am a bit stumped and need some guidance. My dad has finally reached retirement age 65, however, does not have sufficient funds to sustain my mom and himself through their life. He does do the odd job by this is not regular and cannot plan based on this income. I've assisted them in paying off their flat (Current Value R 750,000) so all they need to cover is lights, water, rates and levies (R2,500.00). We have gotten their total living expenses down to R8,000 pm. My dad's RA is worth R 175,000. His pension is worth around R600,000. When my dad lost his job 8 years ago, we stopped contributing to it as the odd private jobs he did went to living expenses and I felt it would be better they pay off their flat. My dad is expecting an inheritance of ±R100,000. They are both currently receiving a pension grant from the government. Thankfully they are both still healthy and as kids, we have them on a very basic medical aid.  I really need guidance as to what I should do now without putting their pot at financial risk. My plan is as follows:          The flat is a large part of their retirement source and needs work done to the place. If we were to sell it in the future or rent it out, we would need upgrades. The plan is to use half the inheritance to upgrade and invest the balance. (At this point, I have no intention of selling the place, as they still need to live somewhere).         Regarding the RA and pensions, my dad is keen to take the 3rd, but will this still be tax effective or even worthwhile?         If we take the 3rd, we would then take a living annuity out for the balance, and invest the 3rd and balance of the inheritance (50k) in The SATRIX World ETF and only use this when the living annuity runs out. Else I saw Africa Bank is offering 10.75% on a R100k deposit for 6 years. This works out to an effective interest rate of 13.33% due to compounding.          Do I invest the 3rd and inheritance in a TFSA? Tim I have a query based on being penalized 40% by Sars for transferring equities and money from SGB to easy equities within the TSFA ring fence environment. I was under the impression account transfers were tax free (we didn't withdraw the money and re-deposit) Has anyone else suffered this injustice? We have disputed it with SARS and have asked easy for help in the interim.  Would be nice to know if we are a first or if the community has had similar issues.  Lungi I started listening to the podcasts two weeks ago and I pretty much listen to you guys all day, every day: at work, at home and while I'm jogging :) One thing you have brought to my attention that wasn't even on my radar was the fees issue on my investment products. And boy did I get the shock of my life! I'm currently contributing to an RA with Liberty and I have one with Old Mutual which I don't contribute to anymore.  I also have a Pension Fund Preserver Policy with Liberty (which is currently invested over 4 investment products each with its own management fee).  This afternoon I decided to look through my statements and found that I was being ripped off in fees for the current RA that I am contributing to. I currently contribute R535 premium and according to my calculations for September 2019, after the monthly fees of R321.20 (over 2 investment products), only R213.80 actually goes into the RA. So basically, 60% of my premium goes to paying management fees. This is a very poor investment.  Will I be able to consolidate all my RAs and Pension Fund Preserver into one product so I can pay one management fee. Or is it better to diversify? I can only currently contribute R500 to an RA - looking at the fees charged by the companies, am I better off putting that money elsewhere till I can afford to contribute more? like in my Easy Equities Investment Account? Will other RA companies be able to get me a better deal than the one I currently have?

Business Day TV — Drikus Combrinck from Capicraft chose Grindrod as his stock pick of the day and Rowan Williams from Nitrogen Fund Managers chose Rand Merchant Investment Holdings Combrinck said: "I chose Grindrod Shipping, a company that spun out of Grindrod around a year and a half ago and it plummeted from the listing price of around R130/R140 to about R80 per share recently. A lot of it has to do with the spin off, where share holders did not want to be part of this volatile and cyclical part of it. It's trading at 60% to its NAV which is tangible NAV (ships that they can sell) and get hard currency for it. Williams said: "Mine is RMI, a portfolio of insurance assets so, Discovery has been somewhat depressed, so you're getting in at a better level. MTN has also been somewhat depressed, so has Metropolitan. Hastings is a UK insurer on OUTsurance which they recently came with results, a little bit depressed but we are seeing value at these levels. It is a portfolio so it is a player to a large extent on South Africa, but it looks like it's offering value here and I think you're getting in a decent entry price."​

The biggest challenge in supplementing a parent's retirement income is whether to save in their name or your own. This week, we help Kim and her sister think through their options to help their mother in retirement.  Kim I cannot describe to you how empowering The Fat Wallet Show has been in my life. You have made such a profound impact I can't thank you enough. I grew up in a home with ZERO financial education. Throughout my engineering degree there were no lectures or exposure to the topic of personal financial management.  As a result of your show, I now have a financial strategy for myself, I feel I am in control and I sleep well at night! I can find and read an MDD and understand it, without feeling overwhelmed and confused. A few months ago I struggled to distinguish between financial products, all these names I didn't know - TFSA, RA, ETF etc. Now I can eat them for breakfast :) You have helped me bring a real sense of peace and security into my life and I will always appreciate it. I recommend your podcast to anyone whom I think would find it beneficial.   Her mom is turning 60. She started her discretionary investments late, because she was in a marriage where she didn't have an eye on her finances. When she finally did, she realized she owed SARS a lot of money, which she has paid back.  She has a company pension fund and started saving some money in a tax-free account, but at a very high fee over over 3%.  Kim is concerned that her mother will fall short in her investments based on the rule of 300, by about half. My sister and I want to both invest on behalf of my mother, to improve her circumstances going forward.  I know you have both said go into safe investments as you near retirement, but my mother needs good growth. We can collectively invest a lump sum of R80,000 and then a further monthly sum of R10,000/ month. Invest heavily into local equity.  If the SA market dips / crashes in the next  5 - 10 years, we're screwed. However, if we assume that mom keeps this for a full 10 - 15 years and only withdraws it when she is 70 - 75 yrs old, perhaps it will provide a nice boost for her later.  Invest heavily into foreign equity to avoid a local crash. Is an offshore ETF that invests in international equity still based on the JSE? In the case of an SA Stock Market crash, will this ETF still hold its' selling value ? OR if we want foreign, is it better to invest in USD? We are worried about currency conversion & fees the EE USD option. Invest 50% in equity and 50 % in bonds. If the stock market crashes / SA politics goes south, is there be a risk of the government not being able to repay its' retail bonds? Don't do so much investing on her behalf If both my sister and I focus on building our portfolios, we can reach a point in five yrs where our dividends/ growth can be withdrawn and given to mom. This is of course not the best idea i.t.o. compound interest so more practically we will stop contributing to our investments and pay mom out of our salaries.  My mom has no other assets. Even though it will be a huge drain, my sister and I are considering buying her flat to give her security and reduce her expenses. In a TFSA, if you keep reinvesting your dividends, in addition to your annual contribution, won't you end up exceeding your maximum contribution? If you're in funds that don't pay dividends, your growth will also push above the threshold. I am assuming the limit is on your contribution and not the value of your account? Subscribe to our RSS feed here. Subscribe or rate us in iTunes. Christoff When you invest offshore directly, you only pay CGT on the investment's gain, not on the currency devaluation.  If you on the other hand invest indirectly like with an offshore ETF, you WILL pay CGT on both the investment growth AND the currency devaluation. Lethabo I have an RA and TFSA with the same broker. I have noticed that some of my ETFs in my TFSA had dividend payments (yay!!) but the same ETFs in my RA did not. I am not sure if I am missing something but it just seems kinda strange. How do dividends work with RAs? Brent I have my TFSA ETFs amounts and allocations bedded down. I am now reviewing my provident fund. Is one able to cash out a provident fund and put it into an ETF? Will there be tax implications for the early cash out?  Would it be better to decrease the % contribution and start my own ETF investments on the side. My employer does not contribute towards the provident fund. I don't have an RA. Nicky  In an attempt to diversify my portfolio fully, I thought I would buy some bonds. The fixed rate bond (5 years) is currently at 8.25 % according to treasury website, which is very similar to interest rate offered by Capitec for I think > 100K for 49 month term. Any advantage of the one over the other? How are bonds handled in your estate? How are bonds treated in terms of tax? If no gov retail bonds have no tax advantage, why would people choose them over fixed deposit? I am worried I am missing something as surely the government would tempt people into lending them money by making bonds in some way more attractive than fixed deposit. Keegan Do you guys suggest using an IG account and buying foreign shares listed on other stock markets? or Should I open an online account as a citizen of an EU Country?  What are the tax implications?  I have some extra cash I'd like to invest. The ROI on my investments have been greatest in my business although it is somewhat high risk. Do I reinvest in the business and buy more equipment and try expand or do I look for ways to build up a stronger financial portfolio while I am still young? Rahzia I plucked up the courage to stop two debit orders for an RA that I held at Sygnia and a unit trust at Coronation (which charges -1.74% fees). I wanted to contribute to my tax-free account only. I do contribute to a pension fund with the organisation that I work for (8% employee and 15% employer). My husband and I want to get out of our car and home loan debt within the next six years. We bought the house this year.  The extra money after the debit orders are cancelled will go towards the debt repayments. We do have about 2-3 months worth of expenses as an emergency fund. Is it better to put all money into getting rid of debt and then focus on saving/investing as much as possible thereafter? If we were to do this, it would mean no ETF investing for six years. However, all extra money after the debt has been repaid will go into saving and investing as much as possible. What about the time aspect? If we don't put all the extra money we have into paying debt, we won't meet such an aggressive target of six years to eliminate the debt. Candice My husband and I have historically had a terrible relationship with cash and anything finance-related. We have recently had a baby. My one requirement for having this baby was that we do it debt-free. We are in our last month of paying off debt and then we are free. We don't own our cars (corporate cars) and we currently rent our home. Do I use a broker to start off with or do I try to go at investing on my own and figure it as I go? We both currently have RAs (with the big green company you despise) and medical aid. We have a savings account with 24 hours access for emergencies and a 32-day call.  I would like to get a tax free savings open for our baby now and then stop contributing to the above savings and rather invest the cash elsewhere, but have no idea where to start? How do I know where to invest, what to invest and how to trade? Is it not better to use a broker who can advise better? Anne I managed to save R100,000 in a savings account. Finally got brave enough to transfer the money to my brokerage account. The plan was to buy Satrix Msci World and Satrix 40. Now I'm just staring at the money. What's the best plan? Invest all the money on one day? R5000 per month or per week in each fund? Second question is FNB or Capitec? I earn a salary, have a few debit orders, card transactions draw money once or twice a month and have an emergency fund. Theresa I opened an ETFSA investment account six years ago and have a monthly debit order of R500.   The account is in my seven-year-old grandson's name, but I pay the debit order and his mother is listed as his parent/legal guardian and she has to sign any transaction forms.   I know it would make more sense to contribute to a TFSA, but I don't know what to do with the existing account. Should I sell off R33000 worth this tax year and the rest next year to close the account? My daughter has never declared the ETFSA account to SARS. I'm told I can't contribute directly into a tax-free account unless it's in my name.  I wanted to have a little nest egg for him for later but now I'm thinking there must be a better way to invest for him.  Should I open a TFSA in my name and leave it to him in my will (which would require a trust if he is still a minor when I die) or should his mother open an account for him and pay into it every month from money I give her.   I already assist with his expensive therapy costs every month as she doesn't earn much and I am aware there is a limit of R100,000 allowed before tax is payable on donations.

For two years we've had to live with the shame of the Listener Love Index. The wisdom of the crowd is not quite so wise when it comes to stock selection. Let that be a lesson next time a friend offers a hot stock tip. This week we finally replace that horror show with our new index - the Fat Wallet Price-Weighted Index (FWPWI). The methodology is one step dumber than that of indices weighted by market capitalisation. Market-cap indices multiply the number of shares in issue by the share price. We ignore the shares in issue and focus on nothing but the price. You'll find JSE-listed companies within the R80 to R250 price range at the start date.  I'm curious about how this index will fare against our benchmark, the Satrix 40. In essence we've stripped the outliers - at the top we're talking Naspers and a bunch of commodity stocks. At the bottom, property.  We end up with a fairly defensive index. You'll find a number of consumer staples and retailers - those businesses we can't do without during tough times. The index is heavy banks, which could turn out to be disastrous if that dreaded downgrade finally comes. Here's hoping Dario is right about that. Here is a video of how we put together the index. In the podcast we discuss why understanding this matters to beginner investors (and everybody else). The coolest part about this index is that you can easily replicate it for your portfolio. You simply add the average price you paid for your holdings and divide by your number of holdings. That will give you a DIY bird's eye view of your overall wealth. Subscribe to our RSS feed here. Subscribe or rate us in iTunes. Steyn I've started to realise that property might not be a very good investment. As I understand it, there are two factors that make a property a poor investment: On average it only grows at around 7% - just a fraction above inflation CGT doesn't care about inflation I ran the numbers and it became clear that the CGT you will pay after 20 years almost strips your growth entirely.  If you buy a property for R1m and it grows at 7% per year, it will be worth R3.95m after 20 years.  In today's money it would be worth R1.23m. So in real terms, your property only grew by R230,000. If you want to sell it, CGT will be calculated on the total growth of the property and not the inflation adjusted value. CGT will therefore amount to R210 000. After 20 years you only made R20,000 profit. This is sad. This has not been the case with our two properties. We've been very fortunate with both of them: We bought a rental property in a new development three years ago. They only finished and transferred last year October.  Over the past three years, the property has grown tremendously and in the meanwhile new phases were added which made the development quite sought-after.  The developer kept some units in our block and is now selling them for R1.5m. If I can sell it now I will make a nice profit, but I can't since there's a clause that restricts me from selling before five years unless I'm willing to pay a penalty. This is to keep speculators from tanking the prices. We also bought another house which is our primary residence at about R400,000 under market value.  Is my rationale correct that by cashing in on this equity and putting it into ETFs or an RA, would be better over the long run?  I'm considering putting the two bonds in a structured facility at FNB. This might give us a better interest rate (currently 9.5 and 9.6% respectively). Do you know anything about structured facilities and is there anything I need to look out for? Lastly, I'd like to share a property hack: I have a 55 day interest free period on my credit card. So each month I put my whole salary minus debit orders in our bond. For the next 55 days we live off the credit card's interest free period. We clear the credit card after this period and restart this cycle. If we continue to do this over the next 20 years, we will save about R260 000 in interest and take 18 months off the term without using any of our own money.  Dario SP has kept our credit rating below investment grade....for now. I can't say I agree with Ramaphosa in all things, but I do recognise that he has the potential to steer this country into a better direction. I am a firm believer that he will at least get SP & Fitch to upgrade us up to investment grade. I think we have some time to prepare for this. I don't think 2019 is the turning point just yet. How do we best position ourselves and how much upside is there? I currently hold some STX40 in my TFSA but I think investment grade affects bonds the most considering our JSE is largely offshore?  Gregg You have my school-going son investing R300 a month of his pocket money into a Global ETF – how's that for awesomeness! I'd much rather he do that than blow his money on what typical teenagers get up to now a days. Well done guys!  If I buy a house worth R1.5m, but I take out an access bond for R2m, it means I have automatically created an emergency fund of R500K. I don't pay interest on what I don't utilise, so I would only be paying interest on what I spent, in this case the R1.5m.  I totally get it that this is not the same, nor as good as buying a house for R1.5m,  then putting R500,000 into the bond thus reducing it to R1m, but still being able to access that R500,000, all the while it is “saving” me interest. This is ideal.  But in the first instance, if one does not have a big enough emergency fund, is this not a good way to kick-start one? Rudolph wants to know if raising taxes does the same thing to the market as raising interest rates does in terms of inflation, economic growth, investments, corporate profits, government revenues, etc? Ben wants to know if it's dumb to sell his old EW40s for ASHEQs in a TFSA.

We can all assume the chief economist at Stanlib knows a thing or two about the world. Imagine my alarm when I read he thinks we need to fall out of love with equities. Thankfully the headline was just clickbait and Kevin Lings said nothing about Bitcoin. If you let yourself read beyond the headline (lesson learned, I assure you), you'll find a thoughtful explanation of why the South African equity market is where it is today. In this week's Fat Wallet Show, Simon and I discuss what our alternatives are if we don't love equity. We get to talk about bonds, which makes me so happy. We also delve into stacking your home loan and the right amount of emerging market exposure for equities. Roberto What's a general recommendation percentage-wise in ones portfolio allocated to emerging markets? I have been buying Satrix World and Emerging Markets ETFs in my tax-free savings, split 70% and 30% respectively. Is that perhaps too aggressive on Emerging Markets? I have seen online 20% max is usually recommended, at least for investors in Europe. @layoutordie Stocks give a 13% return, but (tfsa aside) you pay tax now or later. Paying off home loan gives a 10.5% (or greater) return, tax free. Am I missing something, or is a tax free return of 10.5% better than equity? Subscribe to our RSS feed here. Subscribe or rate us in iTunes. Win of the week: Shane We recently adopted a rescue cat named Myshka. She's 18 months old, has all of her vaccinations and has been spayed. I've been listening closely to your views on funeral cover and thought that the same philosophy could be translated into pet insurance. We spoke to a veterinarian friend of ours who indicated that Myshka is unlikely to have any health issues during the first 5 to 7 years. She has a life expectancy of at least 15 years. Diet apparently plays a large part in their health, so she's only getting Science Diet (There go our bubbles...) With this information, the plan is as follows: Step 1: Obtain quotes for the "Rolls Royce" of pet insurance for an 18 month old female cat with no medical history (Let's let the actuaries assess her risk and do the hard work for us for free). Step 2: Select the most expensive quote (the theory is that we are selecting the most risk averse actuary out of the lot). This quote came to R410 per month. Step 3: Round up to R500 per month to build in an extra margin of error for risk and invest this amount into an equity ETF and watch our Money Bunnies grow (thanks Stealthy!). We worked on the following figures and assumptions: - R500 per month contributions adjusted annually by inflation (assuming 5%) - Assuming an annual growth of 12% over the 5-7 year period - Adjusting the 12% growth down by our assumed 5% inflation figure to 7% We are assuming we are in a relatively safe space regarding kitty health in the first five years After 5 years we enter the "danger zone" but we have almost R30,000 in today's money to pay for vet bills. Assuming the pet insurance premiums don't increase (which they will), this means that we would be spending in excess of R24,600 in insurance premiums during the first five years of Myshka's life. This is the same period of time that she is at low risk. This investment is not as liquid as we might want it to be for an insurance, but that's why we have our six-month emergency fund to draw on in case of kitty emergency. We can then slowly replenish the emergency fund or cash out some or all of our investment to replenish the emergency fund when the market allows for it. By the time Myshka reaches the end of her lifetime at a conservative 15 years and assuming she hasn't had any major health events, we will have a tidy little sum of R215,000, which can be put towards a royal kitty funeral with loads of bubbles or a golden plaque in memoriam of our beloved Myshka (Don't worry, I'm just kidding, I'd never invest in Gold... Bubbles it is!) Brecht A few years ago I worked for MTN and they had a share incentive scheme in which the employee received shares after a certain number of years of employment. I've watched these shares climb very nicely and have watched them drop very nicely. I am way over invested in one share and was wondering how best to start selling and getting diversified whether in ETFs or other shares. My thinking is to start selling R40,000 a year to not incur CPT and that would be a great start to funding my TFSA and buy some other ETFs with the extra? Your thoughts? Currently my MTN shares are with ABSA stockbrokers and they charge a +-R80 admin fee every month. Would it be worth moving? Sexy Bear Two years ago, I found myself desperate and in a deep, dark hole to the tune of almost R3m. That was made up of a house, vehicle debt and over R600,000 in unsecured loans and credit card debt. We overspent my income by at least R20,000 per month! From the outside looking in, I was probably ‘living the dream'. The reality was vastly different! I was unhappy and in debt that I couldn't even afford to go away for a weekend. I realised it was absolutely absurd that despite earning a decent salary I was literally broke. I put the house and my wife's car on the market, I started frantically paying back debt a little bit at a time, lump sums when I had them. The legal fees for the divorce set me back a bit in my journey but they were SO worth it, I was divorced within six weeks. I also had an ANC which was helpful… Today and I am in a much healthier (and happier) financial position! I only have a few more rehabilitative payments due to my ex-wife. I am debt free. I have an emergency fund I have a credit card with a R 1,000 limit. The bank initially wouldn't reduce my R 350,000. I had to threaten to close my account. I have closed my Allan Gray Equity account. I have consolidated my RAs into one. I have fully funded TFSAs for my kids and myself I am in the process of changing my medical aid from Discovery to Genesis for a R1,500 per month saving. I have threatened the bank that if they don't waive my R475 pm account fees, I am changing to Capitec… They have asked for a meeting to discuss…?!? DSTV is on its way out… I have life insurance for my kids… and a will… I max out my RA annually. This is with 10X now, at 75% local exposure? (Reg. 28) I don't want any more developing market (or RSA) exposure. Because I don't want further rand exposure than already in my RA, I believe the STXWDM is right for the TFSAs. Am I correct in saying that I already have enough emerging market exposure in the RA? I have a further R500,000 pa that I want to invest in dollars. I prescribe to Patrick McKay's take on buying the market, so I am interested in the Vanguard world from either Ireland or the US. Should I use my EasyEquities USD account to buy VT ETFs or try and set up an Interactive Brokers account and buy the VWRD? I am aware of the death duty on the VT, but you can't control everything (or anything at times!), so it wouldn't cause me sleepless nights that if I were to croak suddenly there would be a tax liability. If I were to croak slowly I could always sell or move prior to my last croak… I would need an international will with the VWRD through IB, would I require an international will for the EasyEquities VT? Is the EasyEquities USD account truly offshore? If I reach my goal of financial freedom, become an international jet setter and say moved to Croatia, would I be able to access these EasyEquities USDs from there, assuming I have a Croatia bank account? Do you see any gaping holes in my financial restructuring above? At this point I will have all my investments in three places: 10X RA, TFSA STXWDM and EasyEquities USD VT, although I feel OK with this do you feel that it is sensible?

Our 12 June 2019 TechTalk on R80.30 covered the following topics: * New Check Point Appliances (16000 and 26000 Series) * R80.30 OS Kernel 3.10 * User Mode Firewall * New in SSL Inspection * Web Threat Extraction Presentation Materials and a video of this session are available here: https://community.checkpoint.com/t5/General-Topics/R80-30-Technical-Update-TechTalk/m-p/55630/thread-id/11123#M11193

Migrate to R80.20 by Check Point CheckMates

Sorting out money between partners can be fraught, but it's a walk in the park compared to parents and siblings. We spend our formative years trying to secure the love and acceptance of the very people who we now have to say "no" to, which is why we are Money Enemy Number One. Your best chance at success is substituting emotions for numbers. If you are the person your family looks to for financial support (and you have no moral objections to helping out), the first number you should care about is what you can afford. This doesn't mean how much you have left over, but how much you are willing to give. You also have the option of paying directly for fixed expenses and letting them figure out the rest. Alternatively you can offer a cash amount, walk away and fight every urge in your body to give more if they run out. You don't have to say no to your family if you don't want to, but you are allowed to have boundaries. If all else fails, ask yourself what you would do if your kid made the same request. Devon's mom told him he'll have to take care of her his whole life. After paying off her debts, renovating her home and countless budget discussions, he's losing hope. I have had endless budget sit downs and fiscal meetings with my mother to try reign in her expenses, but after a few months the old habits come back. She's very good at convincing herself whatever she buys is absolutely necessary. I listened to your podcast about talking to your partner, but I find having a talk with my mother far more difficult and emotional. Her house is paid off (just levy, water, electricity, medical aid and living expenses are needed) but she spends over R10,000 on groceries on just her and my sister at home plus clothes and other non-essentials, plus having a domestic worker twice a week and a gardener for a small garden and a pack of 5 dogs which obviously need to be fed (I tried everything to stop her at just having 3 max). How would you suggest approaching this firmly enough that it actually does stick with her and leads her to actually taking action to cut expenses? In essence how do you get this message across to someone doing their utmost to stay dependent on others to avoid the responsibility of their own financial position. I feel like I have tried absolutely everything and have spent so much energy and effort that I am at my breaking point. Emile Market commentators will say they would only buy a stock at a particular price level. For example, stock A is expensive at R100 but fair value at R80. Is this merely a reflection of the rand value of the P/E at different levels i.e. R100=P/E of 20 and R80=P/E of 16? Subscribe to our RSS feed here. Subscribe or rate us in iTunes.   Wim Taxpayers get a R23k interest deduction. Wouldn't it be better to first max out this benefit, before going to TFSAs, because it's already tax free! What is TFSAs offer the best returns? Can I expect more than e.g. a 32 day notice deposit or a 24 month fixed deposit somewhere? As far as I remember, the TFSAs have a lot of red-tape w.r.t. what to invest in and how much risk these funds may take on. Will this not mean lower returns?   Marina's twin sister introduced her to the show. She has a question about ETFs. Stealthy mentioned that the smart beta indices try to outperform the market and rarely do so, and that is why he sticks with vanilla indices. She also read a Moneyweb article about the SPIVA report. Some are of the opinion that active funds rarely outperform the market but passive trackers can? What is your opinion on the matter? If active funds with competitive fees were to become available in the future, would you buy them? Lars Kroijer Investing Demystified series: https://www.youtube.com/playlist?list=PLXy71rkGuCjXLg9N8zowwUpXCYfBcMJFK Frank sent a link to a podcast called How It Began, where they discuss the stock market after episode 123. https://itunes.apple.com/za/podcast/how-it-began-a-history-of-the-modern-world/id1221558103?mt=2&i=1000389611474 Mpilo wants to know what listed property is. They also want to know what a mutual property fund is. Psychedelic Nerd wants to double-check that they understand CGT: If I invested R5,000,000 into the market, and now it is worth R10,000,000 . I decide to withdraw R400,000 (i.e. a 4% drawdown rate) to live on for the year. Half of this (R200,000) is capital gains. So, after the R40,000 CGT allowance, I am due to pay CGT on 40% of R160,000, which is R64,000. I have the 2018 income tax free allowance of R75,750, which leaves me with no taxable income! So I keep the full R400,000. In this scenario, the CGT mentioned here is the only income for the year. Does this scenario sound right to you or am I getting some steps wrong? (If this is correct, over time I guess it will change as the percentage of the annual drawdown that is capital gains will probably become higher.) They also want to know what I mean by “cash” savings and if it's a good idea to have an emergency fund in a money market account. Ivan made Kay a spreadsheet to calculate her tax liability in a year. Download the tax calculator here Kiril has a hella fancy car. He wants to know if he should speed up his repayments. I currently have an emergency fund, maxed out my TFSA for the year, contribute to a provident fund through work, and have zero debt except my fancy car. Whether owning a fancy car is a good idea is not part of this question. My designated installment is R7600, which I've upped to R8000. Should I increase this to R8600, and put in some sizeable lumps sums, eg. My tax refund? My interest rate is 10.5%, but Tito's jitters indicate this might rise in the coming year. Please, I'd really appreciate your advice. Promise wants to know who we prefer for TFSAs. Pierre If I sell out of a fund and incur a 360k capital gain which I will be taxed on, can I invest 360k straight into an RA and thus pay no CGT? No - but you can contribute 27.5% of your profit to your RA for the tax break. First point RISK = REWARD, pretty basic if you take more risk your return can be higher (or lower), take a small risk and you make a small return. Bonds have a very little risk so you get a small return BUT you are very sure you don't lose your investment. This is called the investment risk pyramid. Cash (no risk) Money on deposit in a bank which as a guarantee if a bank goes bust Bonds (low risk) 1)US treasury bonds 2)Developed markets 3)Emerging Markets Within each of these 3 sectors you get municipal and corporate debt too ETFs / Unit trust (medium risk) The more diversified the ETF/fund lower your risk should be, ie if you buy an ETF with only 30 shares and they are all banks it is less risky than buying one bank share but riskier than buying an ETF with 1200 shares in it across many sectors. Shares Within the share universe you get more and less "volatile" shares. Volatility means how a share price moves day to day around its average price over time in laymen terms. So a stock that is speculative like saying your Blue Label group moves in massive swings, something like a property stock which is run by a well managed reputable outfit which owns shopping centres and hard assets and receives their rental income from these properties every month will have a stable income and below volatility. Worst comes to worst the assets (buildings) are sold on their own and the shareholders in the stock can get their cash back. The assets are easy to value. Stocks are theoretically priced by their earnings, how much we are willing to pay for those earnings is called the price-earnings ratio, higher PE the more willing people are to pay for its earnings. Sometimes stock prices make very little sense. Example - Tesla, we all love Elon Musk, he is trying to change the world, he has very big ideas, he has shown potential BUT his company is not making that much money yet. People believe his dream and keep buying Tesla shares thus it has a very high PE. Very low earnings and high PE. Every sector has its own go to PE. Banks in SA generally below 12. Leverage / Speculative Funds/Small business/Bitcoin Risky stuff, could lose everything or double your money, need a lot of research and gut feel to know what's what. Not for the amateurs, no matter how good the tip was your buddy gave you or you ever heard at the gym. Ok so that how risk is priced in instruments next layer of risk is the country risk, it is generally expected that: US least risky (now) Developed markets (UK, Japan, Germany etc) Emerging markets (South Africa, Turkey, Russia etc) Junk Markets (Zim, Venezuela etc) Each of these countries has their own risk profile and within each you can buy a bond (least risky for that country) or you can buy a share (risky for that country) . If you buy a bond in say South Africa you might expect the same return as a medium risky share in a big developed market. Theoretically speaking, my idea to get the concept across. The risk is everything, the risk is priced in return, for a stock that return is measured in its earnings for a bond/cash in its return. So back to your story, why did my ETFs in SA do nothing but when the market fell I still fell along with it, should I have been hedged through my diversification? There are 2 parts to the answer. 1) Naspers makes up roughly a quarter of our Top40, Naspers is basically a company holding a share called Tencent, Tencent is basically the google plus facebook of China. It's gone up in a straight line for last 5 years. Dragging our TOP40 with it. If you take out Naspers/Tencent our markets has done sub9% maybe less... Why is that you might ask, unemployment, bad ANC policies, international investment firms selling South Africa as a brand, the land appropriation bill is a massive massive issue, firstly our banks are being sold off more intensely than I have ever seen in my 15 year career, you can get a big 4 bank stock now at a PE of 8 (side note at this rate it will be more tax efficient to buy a bank stock and get a better dividend yield on your money than the bank can offer you on the interest rate and the div yield is tax free!!). Banks own the bonds on the properties the ANC want to appropriate thus banks go to zero, the market has decided to rerate the risk on banks and the price went down, more risk bigger move in this case down.   Tech stocks have rerated after an incredible run the last few years, Tencent halved and with that the price of Naspers and thus the TOP40 or JSE and your ETFs. Buying the Top40 or DTOP is not a good diversification. I'll say that again, buying the TOP40 is not a good diversification. 2) The second part to the answer is more interesting, think of all the capital in the world flowing around like water freely. When there is a lot of capital it sloshes around the world, builds up at the riskiest places and even forms bubbles, think bitcoin. When is capital cheap? When interest rates are low, because anyone can borrow a lot and do with all that money what they want to. When was capital cheap, since the 08 crash, the Fed and other central banks took interest rates to ZERO percent, all that cash has been sloshing around the world and found new homes in the riskier assets and countries like you know who SOUTH AFRICA. For the last year or so the Fed has been slowly increasing its lending rate to try and normalize markets (or their market among things). The effect is like a giant sponge in America sucking up all the excess money they were out there in riskier assets. Starting at the riskiest and going down the pyramid to the least risky. So in our case, we are an emerging market check, we have are buyers of an ETF that's listed over equity check, we have bad economic policies check, there is talk of taking away peoples assets which banks have bonds overcheck. And there you are, your ETFs have rerated in risk to the new reality. I don't want to make you feel worse but that return you lose you have is in Rands, as we discussed above, a South African Rand bank account is riskier than a USA bank account, thus the rand is also being sold and more people are buying dollars. (if you can earn 3% risk-free in the US why buy an SA bank account and only make say 6% with all our inherent risk too). I have been a holder of 4 "hedge" funds over around 10 years. Over a decade plus they have been the standouts and I managed to get in quite early and trusted each of those outfits as I work in the industry and am well aware of what they do. That being said, you pay through your ears for this good return these guys get, there are also down times. I decided at the beginning of the year to start liquidating investments in these funds down to 25% and buying ETFs listed on the JSE but in foreign exchange and international markets. I like and have moved into Ashburton world bond index in USD, NASDAQ listed by Satrx, GLODIV dividend aristocrats international, SYG500 SP 500. All of these ETFs hedge me against any South African and Rand risk. My thinking is, I live in South Africa, I own my house in South Africa, I earn Rands in South Africa. South Africa is a tiny country on the tip of Africa, do you think if you approached someone in Japan or America and tell them you think it is a good diversification to buy TOP40 index ETF in a tiny country on the South tip of Africa. No ways! Buying SA listed ETFs like TOP40 ect is not being diversified, you are actually taking on a lot of risks, we now have the freedom and products to buy cheap, international ETFs on the JSE which gets you out of local currency, buy them and buy as many as you can. I wrote about how I plan to approach the maintenance to my new house in last week's newsletter. I said I'll probably under-budget. Dave had a great point about that. Your new project/s made me think of one of my favourite Project Management lecture points - don't stress the accuracy, stress the completeness.  If you budget R100 and it runs to R110 you are 10% out, but if you don't even put the item in the budget then you are in trouble. Quinton wants to run his ETF strategy past us. These are ETFs he's buying in addition to his RA and TFSA. I don't want to be to active as an investor, I'd like to select shares, then contribute monthly from now until retirement. He's looking at Satrix Top 40, Satrix S&P500 and the Ashburton Global 1200 My idea is to buy each monthly. I am a minimalist and like keeping things simple, but also don't want to invest in the wrong portfolios, or be too diversified. If you think this is a good strategy, would you invest equal amounts into each or spread it more offshore (E.g. Satrix S&P500 and Ashburton 1200 = say 80%) and Satrix top 40 = 20%? I have received dividends in my TFSA account now, and was thinking on using those dividends to apply the same logic. What are your thoughts on the Satrix Emerging Markets, Nasdaq 100, or MSCI World index. Should one be considering any of these?

As a follow-up to our Check Point R80.20 Demo TechTalk and Q&A session, we demonstrate the numerous usability enhancements with IPS Management and Gateway that are coming with the R80.20 release. Experts from R&D answer your IPS-related questions as well!

In this session, Tomer Sole and Valeri Loukine discuss and demonstrate R80.20: both the "M1" version that is already released, and the upcoming R80.20 that will also include gateways. https://community.checkpoint.com/thread/8546-check-point-r8020-demo-techtalk

The Jes Foord Foundation was established in 2008 after rape Survivor Jes Foord decided to break the silence and be a light to others who have gone through and are going through similar experiences. Listen as Tina from The Jes Foord Foundation chats to Jane about how they are trying to raise R80 000 for a vehicle to assist in the day to day activities of the foundation's volunteers. Jane's page on ECR

East Coast Radio — The Jes Foord Foundation was established in 2008 after rape Survivor Jes Foord decided to break the silence and be a light to others who have gone through and are going through similar experiences. Listen as Tina from The Jes Foord Foundation chats to Jane about how they are trying to raise R80 000 for a vehicle to assist in the day to day activities of the foundation's volunteers.

An informative session with Tsahi Etziony about CDT and Blink, which can be used to upgrade and install Check Point Security Gateways. Also, we discuss Zero Touch Provisioning, something that will be coming to R80.20 Gateways. More information: https://community.checkpoint.com/message/22358-techtalk-cdt-and-blink-video-and-slides

For many South Africans, saving simply isn't an option. Either they don't earn enough to be able to save, or they have too many familial obligations to do so. In this episode we offer some tips on things you can start doing on a very low income to put yourself in a better financial position in the future. We also talk about some common traps high income earners fall into. If you're already too scared to listen, here's what we talk about: Why insurance might be a better idea than an emergency fund. Why a low income is the best place to start preparing for a bright financial future. Why debt is not your friend. How cost per use or cost per unit can help you make better financial decisions. Why you shouldn't avoid paying tax. Our win of the week is Lesegisha, who is foregoing sushi in favour of education. As you'll hear, his letter blows my mind in this episode. For that reason, I'm republishing it in full here. I am a pious listener of The Fat Wallet Show and the proud contributor to Lewis dragging down our Fat Wallet Index. When I heard the topic of this week's show I knew you guys were still sticking to what it says on the label and giving advice to the little guy on the street. Thank you for that and it'll pay dividends in future if not cheap wine. I am a 26-year-old full-time postgraduate student (I'm lucky I know but here me out) living on R6000 a month. This may sound like a lot for a student but bear in mind I have previously held a full time paying auditing job with plenty of travel perks and whatever bells and whistles that come with the occupation. So I have tasted the fruits of freedom and R6,000 in that context is worse than my life before I knew what sushi tastes like. I've been studying the topic of investing, business and leadership since I was 15, reading Rich Dad Poor Dad and can say the easiest and biggest investments that one can make on a small paycheque is in their financial literacy. The concept of pay yourself first cannot be overemphasised. In my budget the first R300 goes towards everything finance and investing related. I split it R120 for my active share portfolio, R120 for my tax-free savings portfolio and R80 into a rolling emergency fund which I draw down to R80 after three months to invest the excess in my active portfolio and my tax-free savings. I've been with EasyEquities from the very beginning. “Lost money” that I find in my jeans, birthday presents etc I take in cash or direct my friends and relatives to make deposits to these accounts. I make sure that at least once a year the R300 buys me a decent book that can help me stay on course. My Best Buy and read so far was Fooled by Randomness by Nicolas Taleb and Security Analysis by Ben Graham (which costs the equivalent of six months' investing capital). The reason I do this is to entrench the habits of having my money work for me while it's in triple digits so that when I eventually break my glass ceiling the pressure isn't there to learn habits that I had the opportunity to learn before lifestyle creep. My biggest belief is that the size of my return will be materially disproportionate to my input not because I'm gambling, but because I take the time to learn as much as I can about the basics of money that you guys mention. I always look to put my money hard at work where it'll earn me the biggest most predictable returns. The law of compounding interest says, start early not start big. The rest of the R5700 I survive on with the piece of mind of knowing that I have used the best part well and that there will always be someone who is surviving on waaaay less and not complaining. But my key takeaway is that on a small paycheque education is your biggest investment and then pay your future self first. The rest is survival as we know it. Kristia

ETM Analytics Chief Economist, George Glynos looks at a R15.7bn surplus for Dec and record R80.6bn surplus for the year, the Fed left rates unchanged, NAAMSA vehicle sales and the Barclays Manufacturing PMI and Venezuela appears to be in the midst of another unfolding crisis, SA should pay attention to a good example of how NOT to manage an economy?

This is an abbreviated version of a topic done at various local CheckMates Live events: Migrating to R80.10, Live! Specifically, we covered: * Why you should (and should not) upgrade to R80.10 * An overview of the process to upgrade from R77.30 to R80.10 * Demonstration of an actual upgrade * Q&A Notes and video here: https://community.checkpoint.com/message/12403-techtalk-migrate-to-r8010-and-new-years-toast

Acting National Police Commissioner Khomotso Phahlane says he intends taking legal action against the IPID and those falsely accusing him of corruption. He has once again denied claims that he used state resources to have a home theatre system worth more than R80,000 installed at his upmarket home, north of Pretoria. Phahlane says he is not surprised because the new allegations are made by the same people who previously accused him of staying in a house worth 8-million rand and also driving a top German model vehicle worth millions.

HP debuts new IoT devices, Bitdefender’s second BOX is here, FireMon announces support for Check Point R80, and more. Full Show Notes: http://wiki.securityweekly.com/wiki/index.php/ES_Episode28 Visit http://securityweekly.com/esw for all the latest episodes!

HP debuts new IoT devices, Bitdefender’s second BOX is here, FireMon announces support for Check Point R80, and more. Full Show Notes: http://wiki.securityweekly.com/wiki/index.php/ES_Episode28 Visit http://securityweekly.com/esw for all the latest episodes!

Programa : Disco x Disco Señal : R80.FM Entrevista Realizada el Sabado 18 de Agosto en el Programa Disco x Disco a El Disc Jockey Icono de los 80's en Argentina .-