Business in South Africa

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Cecil Kilpin | July 2022 Newsletter

By |2022-07-11T13:06:07+02:00July 11th, 2022|Business, Environmental, Finance + Economics, Goverment, Newsletter, Tax|

Doing Business In South Africa .. An Overview! The South African gross domestic product (GDP) expanded by 1,9% in the first quarter of 2022, representing a second consecutive quarter of upward growth. The size of the economy is now at pre-pandemic levels, with real GDP slightly higher than what it was before the COVID-19 pandemic. The National State of Disaster was lifted as from 5 April 2022, and the rules on wearing masks indoors and the limitation on public events and gatherings were all repealed on the 23 June 2022. However, South Africans are feeling the bite of fuel price increases as a result of Russia's war in Ukraine and the rise in the Brent crude oil price. [...]

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Cecil Kilpin | July 2021 Newsletter

By |2022-01-19T16:46:43+02:00July 30th, 2021|Business, Finance + Economics, Goverment, Newsletter, Tax|

SASRIA & Fiscal Budget The South African Special Risks Insurance Association (SASRIA) will form a key part of the intervention to help insured businesses restore their operations. Together with reinsurers, SASRIA has already begun its claim administration process. Pay-outs will be provided to all covered businesses. Crucially, government has decided to provide full financial backing to SASRIA should it exceed its solvency limits. The National Treasury is putting in place the necessary arrangements to ensure that this commitment is met should it be needed. Qualifying uninsured businesses will be supported by the state, partly through a reprioritisation of the existing support mechanisms for Small Medium and Micro Enterprises (SMMEs). The Government is also engaging with relevant stakeholders (NEDLAC, banks, insurance companies and [...]

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Cecil Kilpin | May 2021 Newsletter

By |2022-01-19T16:57:31+02:00May 30th, 2021|Business, Finance + Economics, Goverment, Newsletter, Tax|

Doing Business in South Africa – Our New Normal The economic effects of the coronavirus crisis have been extensive in South Africa (SA) and a recovery to pre-pandemic levels will take several years. While it is forecast that the SA economy will recover marginally in 2021, it is likely to be uneven and subdued. From a global perspective, the exceptionally accommodative policies in many advanced economies and improved economic outlooks have supported a partial recovery in global financial markets. This has so far resulted in only a trickle of fresh capital flows to emerging markets, and financing conditions remain uncertain. This, together with the sharp rise in SA’s public financing needs, arising from falling tax revenue and higher [...]

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