The mismanagement of South African finances is clear for all to see. What does hurt is the most recent BER report, which lists what might have been achieved in South Africa over the past eight years. Probably the most damning is that our GDP growth has underperformed that of our peers substantially – and we regard those guys as losers!
For three years running Capitec bank has been ranked as the top South African bank; currently in the top eight worldwide. I bet the organisation from which those, who founded this bank, broke away, have not asked why it could not accommodate these founders?
Roubini has weighed in on Bitcoin by commenting that traders in Bitcoin, who refer to similar currencies as “sh*tcoins”, gravely insult manure!
An interesting note was published by MarginalRevolution in which research held that virtually all poverty reduction comes from economic growth and migration – not redistribution or philanthropy. Reference
You will recall that, some months ago, much was made of SARS holding back VAT refunds. This was, of course, hotly denied, but now turns out to be a sum of approximately R27.4bn which needs to be repaid by March 2 019. Eina!
