Last week saw S&P and Fitch, two credit ratings agencies responsible for evaluating the credit-worthiness of borrowers and related debt, downgrade the rating of South African Government debt to a status of below investment grade or ‘junk’. This downgrade resulted in a consequential downgrading of South African parastatals and banks. The decision to increase the risk rating of South African debt was largely based on political concerns following the firing of Finance Minister Pravin Gordhan and the apparent shift towards populist policies by the government.
In the early hours of Friday morning 31 March 2017, Jacob Zuma announced a cabinet reshuffle. Amongst the 10 changes, were those in the Ministry of Finance where both Minister Pravin Gordhan and his Deputy, Mcebisi Jonas were fired.
Employee benefit programmes are an essential tool in a company’s armoury for attracting and retaining key personnel.
Increasingly, employers are offering more and more sophisticated retirement benefit plans as part of their employees’ total
remuneration packages. When choosing a retirement fund administrator, an employer should investigate not only their track record, but also
drill-down into their technical capability.
Some of our clients and partners share their views on GTC’s technological offering. Click on the links below to watch these brief videos: