Market Commentary | The week that was – July 8th

By |2024-07-09T08:31:49+02:00July 9, 2024|Market Commentary|

Shoprite has introduced an online shopping and bulk delivery service for small businesses, including spaza shops, with free delivery within 50km. Bidvest is restructuring its financial services division, planning to sell Bidvest Bank and FinGlobal, aligning with its strategy to focus on automotive services. The new two-pot retirement system, effective 1 September 2024, aims to enhance retirement savings by splitting contributions into accessible savings and retirement components, despite initial delays in payouts.

Market Commentary | The week that was – July 2nd

By |2024-07-02T08:43:28+02:00July 2, 2024|Market Commentary|

South Africa's new Government of National Unity (GNU), announced by President Cyril Ramaphosa, has positively impacted the markets. The GNU cabinet includes 11 political parties, such as the ANC, DA, and IFP. Key appointments include Enoch Godongwana remaining as Finance Minister and DA leader John Steenhuisen as Minister of Agriculture. The GNU's focus on rapid economic growth and good governance spurred market confidence, with the Johannesburg Stock Exchange (JSE) climbing 700 points (a 1% increase). Leading stocks like Redefine Properties, Motus, and Remgro saw significant gains, and the rand strengthened, briefly crossing R18 to the dollar .

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