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Taxes, Debt and Development: A One-Percent Rule to Raise Revenues in Africa
December 5, 2017--Tax revenues play a critical role for countries to create room in their budgets to increase spending on social services like health and education, and public investment.
At a time when public debt levels in sub-Saharan Africa have increased sharply, raising tax revenues is the most growth-friendly way to stabilize debt. More broadly, building a country's tax capacity is at the center of any viable development strategy to meet the ongoing needs for expanding education and health care, and filling significant infrastructure gaps.
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Source: IMF
JSE falls to five-week low
December 5, 2017--The local bourse fell to a five-week low on Tuesday with industrial heavyweights dragging down the index.
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Source: FIN24
Rand runs on Ramaphosa lead
December 5, 2017--The rand has rallied, strengthening to below R13.50 to the US dollar as the race for the ANC president enters the final stages.
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Source: FIN24
Rand firms and JSE up, but Steinhoff under pressure
December 4, 2017--The JSE All-Share index gained 0.27% and the blue-chip Top40 rose 0.36% on a good day for the rand and SA markets, but Steinhoff International fell 10% as an on-going criminal and tax investigation in Germany took a bite out of its share price.
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Source: FIN24
Naspers drags down JSE industrials as Tencent falters
December 1, 2017---The big global sell-off in technology shares has also hampered the JSE, as investors are concerned that the sector's recent strong rally has been overdone.
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Source: FIN24
JSE closes down as rand strengthens
November 30, 2017--The JSE closed weaker on Thursday, dragged down by large cap stocks in the resources and industrial sector which were affected by a firmer rand.
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Source: FIN24
PWC-Africa Asset Management 2020
November 30, 2017--Africa presents an exciting opportunity: As wealth continues to increase, more domestic investors emerge, while improvements in regulatory frameworks are enticing foreign investment and distribution.
Africa currently represents 15% of the world's population, but just 3% of the world's GDP and less than 1% of the world's stock market capitalisation.
However, things are changing and we are observing an increase in demand for goods and services. Therefore, the need for financing in the real economy is becoming increasingly necessary. Although they are still in the early stages, sound financial sectors and fund industries are developing across the continent-a tangible sign of attempts to meet those needs.
Key findings:
Traditional asset management, particularly the mutual fund industry, will grow at CAGR of 9.6% in the countries considered in our report.
Growth in mutual funds has been rapid with Nigeria showing a CAGR of 34% from 2011 to 2014.
Technology may leapfrog existing fund distribution channels in Africa.
view the PWC Africa Asset Management 2020 report
How big are African pension funds? Pensions are increasingly important as many countries set up and grow pension schemes. Mauritius and Ghana are examples of countries with 3-pillar pension systems and some countries are starting to revise their regulations to allow pension funds to invest more widely than just into domestic bonds, money market and equities. view more
SA's ETF listing boom set to continue view more
Stronger world markets boost JSE
Source: PWC
November 30, 2017--Here are selected findings from a recent hunt through the Internet:
According to a recent report by PricewaterhouseCoopers, "Africa Asset Management 2020" total assets under management in 12 selected Africa countries were $293 billion in 2008, more than doubling to $634bn by 2014.
They are forecast at $1.1 trillion in 2020. (The 12 countries are: South Africa, Morocco, Mauritius, Namibia; Egypt, Kenya, Botswana, Ghana, Nigeria; Angola, Algeria, Tunisia).
Source: africancapitalmarketsnews.com
November 30, 2017--Expect a number of new international offerings.
This year has seen significant activity in the South African exchange-traded fund (ETF) market.
Apart from Sygnia's acquisition of the db x-trackers funds from Deutsche Bank, a raft of new products have listed on the JSE.
Source: MoneyWeb
November 29, 2017--The JSE traded firmer on Wednesday with most sectors in the green as US markets soared to record highs after the Senate Budget Committee approved Trump's tax bill.
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Source: FIN24
