News Archive - Page 22 of 35 - The Banking Association South Africa

News

FINANCE MINISTER’S MTBPS GETS 2 OUT OF 3

Ahead of the Medium Term Budget Policy Statement (MTBPS), the Banking Association South Africa indicated the new Minister of Finance, Tito Mboweni, would have to find ways to: Alleviate poverty and reduce the economic burden of vulnerable South Africans Provide a credible commitment to maintaining fiscal discipline, and Outline a quickly implementable economic-stimulus package.

2018 MEDIUM TERM BUDGET SPEECH

In A Tale of Two Cities, Charles Dickens opens with: “It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity… we were all going direct to Heaven, we were all going direct the other way...”

SOUTH AFRICAN FARM LAND VALUE

Land prices in South Africa have broadly remained stable, despite some sharp declines in areas that were hit hardest by prolonged drought conditions, including districts in the Western Cape and North West province, as well as for lifestyle and game farms.

VBS MUTUAL BANK FORENSIC INVESTIGATION REPORT

The Banking Association South Africa (BASA) fully endorses the recommendations of the forensic investigation report into the affairs of VBS Mutual Bank (VBS), which says that the culprits behind the fraud and corruption that led to the collapse of the bank must face civil and criminal charges.

TITO MBOWENI APPOINTED AS MINISTER OF FINANCE

The association worked closely with him during his tenure as Governor of the South African Reserve Bank (SARB). We are confident that he has the skills and experience to manage the fiscus and help the economy to recover, in these challenging times.

PRESIDENT RAMAPHOSA ANNOUNCES ECONOMIC RECOVERY AND STIMULUS PACKAGE

The president has put his stamp on this economic stimulus package. We hope he will ensure that those charged with delivering on his promises are held to account. Business, consumer and investor confidence cannot afford more disappointment brought on by empty promises.

STATEMENT OF THE MONETARY POLICY COMMITTEE

Since the previous meeting of the Monetary Policy Committee (MPC), risks to the inflation outlook have continued to materialise and the inflation outlook has deteriorated in response to both domestic and external developments.

LAND REFORM AND BANKS AMENDMENTS

Banks continue to provide loans to commercial farmers, despite the uncertainty about land reform and possible amendments to Section 25 of the constitution. However, to be effective and sustainable, any solutions, including a possible amendment to the constitution, must provide for …

BANKING ON THE ARTIFICIAL INTELLIGENCE REVOLUTION

According to a Citi GPS report on the Bank of the Future released this year, globally banks are the biggest investors outside the tech space in artificial intelligence (AI).

NATIONAL CREDIT AMENDMENT BILL

Over-indebtedness is a serious economic and social challenge in South Africa. The Banking Association South Africa (BASA) supports debt intervention to assist low-income consumers whose circumstance have changed for the worse, through no fault of their own, and when formal debt-counselling processes provide inadequate relief.