Johannesburg , 24 March 2020 - Starting on Thursday 26 March 2020 at midnight there will be a mandatory 21-day National Lockdown. Don't be caught unprepared. As the number of covid-19 infections outside China now exceed those within, the masses across the world are starting to panic. Empty grocery store shelves. Fights over toilet paper. Schools closing and sending students home en-mass. Desperate pleas from health workers to stay home when sick unless in truly dire condition. And this with just 394 000 (and rising by the minute) total worldwide cases (that we know of). Now, just imagine what the fear factor will be like when that number is 1.7 million. Or 17 million. Or 170 million. Or (and this is possible) 1.7 billion. Shaun Rademeyer, predicts that more national lockdowns — as we’ve seen so far in Italy, Spain, the United Kingdom now South Africa and a fast-increasing number of other countries — are likely to be announced soon. These will be mandatory quarantines enforced by the police/military. As coronavirus upends life for more and more people, you might be feeling uncertain or fearful about what’s to come. When that anxiety is coupled with a sudden drop in social contact — whether because you’re quarantined or just working from home for who knows how long — those feelings can feel even more heightened, said Dr. Fanie Van Der Linde, GP. “We don’t realise just how social beings we are until that contact is reduced or diminished because we can't leave our homes,” commented Van Der Linde. Shortly after the SARS epidemic in China in the early 2000s, a study on the psychological effects of people quarantined for SARS showed there was a “high prevalence of psychological distress” for people who had been quarantined. With SARS, there was that sense of isolation,” Van Der Linde said. “People also didn’t feel that they got consistent or accurate information, and that led to a lot of fear, a lot of anger, frustration, and stress. A lot of …
The Effect of the Corona Virus Outbreak on the Forex Market
Pretoria, March, 23 2020: Most of the economies all over the world are about to hit the bottom as the market crash becomes stronger due to the dangerous and fast-spreading Corona virus. This newly emerged disease seems to be a big threat to the Forex market as the markets of the world experience confusion and chaos. As the US dollar has fell, resulting in a higher volatility driving the value of the dollar up, we can surely say that Corona virus has a huge impact on these global markets. They are taking all the possible measures to liquidate this hit, however it seems inevitable. In order to see the consequences of the Corona virus on the Forex market, we can look at how stock markets are affected, as stock markets are a perfect measure of the economic activity and also because these markets are interconnected. If we compare the effects of the previous pandemics on the stock market, we will see that there was a little negative impact on the world economies. However, the impact of the current epidemics on the Forex market may be very different. According to experts from 55brokers.com and Forexbrokerlisting.com - “With this massive shut down of whole countries in order to stop the spread of the Corona virus, the impact on the Forex market is inevitable as it may simply restrict economic activity” Currencies Affected Let’s have a look at the currencies that may be affected the most. Over the last days there has been a rush on the Japanese yen. Since Japan is considered to be the largest creditor nation, Japanese yen is called a financial haven currency, especially in comparison to the US dollar.AUD/USD In the times of the global crisis, investors were tend to choose Japanese yen as a more stable currency (again compared to more risky USD). Therefore, considering the current situation with the market and investor preferences, there is a chance the USD/JPY will simply fall in value. As to the EUR/USD, it has experienced some sharp losses …
Business Funding South Africa Rebranded to Bufsa Group:
After many years under the forwarding thinking leadership of Hein Rautenbach, Business Funding South Africa has made massive strides in the Financial Industry. From Accounting and Tax services to Long and Short Term Insurance, Business Funding South Africa has stood the test of time. With this in mind, the company has expanded into all sectors of the financial industry and with growth comes innovation. Therefore the company has decided to rebrand itself as Bufsa Group under leadership of Chairperson Hein Rautenbach and CEO Christiaan Laubscher. With an overhaul of the business’s branding, a new website was developed to show our clients, we mean business. Showing a wide array of services Bufsa Group covers, the new www.bufsagroup.co.za website, showcases the company’s vision as well as providing all the necessary information one needs to see when looking for a new accountant, tax consultant or insurance broker. The website is aesthetically appealing as well as functional and easy to navigate. The “Our Team” page of the website allows for you the user to see who exactly you are dealing with, whether locally in Cape Town or Nationally, Bufsa Group provides full transparency on all it’s dealings, with an open book policy for their clients’ peace of mind. Bufsa Group is on its way to becoming one of South Africa’s top Financial Services providers. Don’t forget to check out Bufsa Group’s monthly Blog to keep up with the latest industry news, financial tips and newest product offerings. Whether it be for personal or business needs, Bufsa Group is knowledgeable in all things accounting and tax-related and provides custom cost analysis based on your personal portfolio for all insurance services. Don’t hesitate, when it comes to your financial well-being. Visit us at www.bufsagroup.co.za for more information, alternatively, feel free to contact us on info@bufsagroup.co.za or give us a call on 021 855 1387. CLICK HERE to submit your press release to MyPR.co.za. …
Just Property – COVID19 – Repo rate decrease welcomed by the property sector
South Africa, March, Friday, 2020 - On 19 March 2020, the Monetary Policy Committee announced a repo rate cut of 100 basis points, taking the repo rate to 5.25% per annum. This follows January’s 25 basis point cut. Paul Stevens, CEO of Just Property, welcomed the announcement noting that the 1% cut translates into a reduction in the mortgage rate (or prime lending rate) from 9.75 percent to 8.75 percent, which will bring further relief to homeowners with bonds to pay at this challenging time, and add stimulus to what is already a ‘buyers’ market’. “These are exceptional times and we are relying heavily on the goodwill of the big, upstream players to help keep businesses and our economy afloat,” says Stevens. “We therefore welcome the announcement from the Reserve Bank and commend our Government on taking continued bold, positive steps to protect South Africans and those with vested interests here.” “When one adds the two repo rate cuts we’ve had this year to banks approving more 100% home loans and the threshold on transfer duty being raised to R1-million, it is clear that the property market offers significant opportunities right now for buyers and sellers,” Stevens adds. The press statement issued by Governor of the South African Reserve Bank Lesetja Kganyago explains that “the significantly lower forecast for headline inflation has created space for monetary policy to respond to the rapid deterioration in economic conditions. Barring severe and persistent currency and oil shocks, inflation is expected to be well contained, remaining below the midpoint of the target in 2020 and close to the midpoint in 2021.” It goes on to note that “monetary policy can ease financial conditions and improve the resilience of households and firms to the short-term economic implications of Covid-19. Our decision and its magnitude seeks to do this in the near term… Monetary policy however cannot on its own improve the potential growth rate of the economy or reduce …
Creating Wealth through the Taxi business.
Sithembile Mthethwa is one of many clients who have been helped by Ithala to finance their taxis through Ithala taxi finance. A self-made businesswoman in the male-dominated taxi industry beamed with joy when she received the keys of her Toyota Quantum from Toyota Scottburg dealership. “I never thought this was possible, I would like to thank Ithala for helping me grow my business and offering me affordable monthly repayments. I am a breadwinner at home and this taxi business is the only thing that feeds my family and helps me take my kids to school, Said Sithembile Mthethwa” A pioneer in banking the unbanked in KwaZulu-Natal, Ithala SOC Limited is a registered financial services provider mandated to help ordinary South Africans to manage money and create wealth. “We have simplified our taxi finance process to make it easier for our clients. Our competitive rates are an added advantage to our clients as they make the monthly repayments affordable which is a big deciding factor for clients when deciding where to get finance. ” Said Shane Moodley the Executive Head of Retail Business and Banking at Ithala. "I’m building a legacy for my kid’s future and their coming generation through this taxi business. I now have 3 taxis and will be coming back to Ithala to finance another taxi." Sithembile is the living proof that wealth creation is a possibility for all South Africans, regardless of where you live or your previous financial status. A widow from the rural Ebusingana at Emazizini, Bergville is determined to succeed at all odds. Ithala SOC Limited provides a range of key savings and investment products, insurance services and personal and home loan products to communities throughout KZN. A distribution network of 39 branches in KZN provides convenient transacting facilities. For more information visit www.myithala.co.za, call 031 366 2500 or follow Facebook @myithala Twitter @myithala #MoveToIthala #RedeginingWeath #Ingcebo CLICK HERE to submit your …
Business Funding South Africa Rebranded to Bufsa Group:
After many years under the forwarding thinking leadership of Hein Rautenbach, Business Funding South Africa has made massive strides in the Financial Industry. From Accounting and Tax services to Long and Short Term Insurance, Business Funding South Africa has stood the test of time. With this in mind, the company has expanded into all sectors of the financial industry and with growth comes innovation. Therefore the company has decided to rebrand itself as Bufsa Group. With an overhaul of the business’s branding, a new website was developed to show our clients, we mean business. Showing a wide array of services Bufsa Group covers, the new www.bufsgroup.co.za website, showcases the company’s vision as well as providing all the necessary information one needs to see when looking for a new accountant, tax consultant or insurance broker. The website is aesthetically appealing as well as functional and easy to navigate. The “Our Team” page of the website allows for you the user to see who exactly you are dealing with, whether locally in Cape Town or Nationally, Bufsa Group provides full transparency on all it’s dealings, with an open book policy for their clients’ peace of mind. Bufsa Group is on its way to becoming one of South Africa’s top Financial Services providers. Don’t forget to check out Bufsa Group’s monthly Blog to keep up with the latest industry news, financial tips and newest product offerings. Whether it be for personal or business needs, Bufsa Group is knowledgeable in all things accounting and tax-related and provide custom cost analysis based on your personal portfolio for all insurance services. Don’t hesitate, when it comes to your financial well-being. Visit us at www.bufsagroup.co.za for more information, alternatively, feel free to contact us on info@bufsagroup.co.za or give us a call on 021 855 1387. CLICK HERE to submit your press release to MyPR.co.za. …
Opinion Piece: What can you do for your employees during a time of Coronavirus?
What can you do for your employees during a time of Coronavirus? Advice from Chris Blair, CEO of 21st Century “As the business world feels the effects the coronavirus (Covid-19) pandemic and takes steps to adapt, companies are asking what they can do for their employees during this difficult time. Instead of punitive changes being implemented, companies can craft an extended Employee Value Proposition (EVP) that could be positively implemented during the pandemic. Parts of the extended EVP policy could be retained after the pandemic is over to bolster current remuneration and HR policies to align with a changing world of business. “Your company could adopt various strategies. The strategy that you choose will depend on your company structure and on the type of business, so would need to be crafted for your specific company. “The first and most obvious strategy is to allow employees to work from home if possible - this will in essence be a quarantine to limit the chances of infection. Employees will need to be empowered with work tools (e.g. laptop and phone) and uncapped Wi-Fi to enable them work from home. This does not need to come at an additional expense to the employer - the Wi-Fi and telephone cost could be offset against the saving the employee gets from not having to travel. Client meetings could be done by Skype or Zoom in the comfort of the employees’ homes. Companies that are using Office 365 could make use of the ‘teams’ function to keep employees connected and working together remotely, which will keep up the morale in the company. “Not all employees can work from home all the time, so flexible work hours that are staggered over 24 hours - to limit the number of people in the office at any time - could be implemented. This strategy would attempt to rotate staff so that there is only one staff member per work area. Surfaces would be required to be sprayed and wiped down with alcohol-based cleaning agents between rotations by the employees …
5 Reasons why AI and Cloud Accounting is the way to go
Pretoria, March, 10 March, 2020: 5 Reasons why AI and Cloud Accounting is the way to go As the world navigates the fourth industrial revolution, entrepreneurs and small businesses in South Africa cannot afford to be left behind. In a case of adapt or die, Cloud and AI accounting are offering businesses and accountants the competitive edge and the opportunity to be at the forefront of the digital revolution. Osidon, the world’s first digital online accounting firm, is disrupting the accounting/tax/payroll industry through automation. Our system automates a wide range of accounting, tax, payroll and compliance tasks. This makes our service delivery much more cost effective and increases accuracy and efficiency. Using the latest technology, we have built an intelligent software that enables our team of professionals to shift their focus to advising and supporting their clients, rather than wasting time on menial bookkeeping tasks, thus setting us apart from other accounting companies. Cloud and AI accounting have opened doors like never before and have revolutionized the accounting and small business industries, offering countless benefits to improve profitability, efficiency and add value to business owners. The benefits of Cloud accounting, AI and machine learning are endless. They have become buzz words in the tech industry, and, while it can be daunting at first, the benefits can be explained simply. Here are five reasons why you AI and Cloud accounting is the way to go. 1. AI and Cloud accounting is secure When you use Cloud-based accounting services, your accounts and records are all saved and backed up securely. With Osidon, you will never struggle to find documents again. 2. AI and Cloud accounting is accessible Because of new technologies, accounting clients can access information in real-time, anywhere and on almost any device. The Osidon system monitors, tracks and manages compliance from SARS, the Department of Labour, the Compensation Fund …
6 Questions Lenders Will Ask You When You Need a Business Loan
Getting pre-selected for business funding in South Africa isn’t unobtainable, even though it may seem that way – especially if you’ve been rejected before. You just need to understand that lenders are in business too, and they need to be certain before they give you finance. So, even though you might think their requirements are “too much”, you need to remember that you’re the one who has to prove yourself to them. You’re the one who needs to prove why you deserve funding, and how trustworthy you are. And, gaining those two things or a loan agreement isn’t difficult. This article will help you tackle the tough questions before you go to the interview. So, carry on reading to find out how you can get a business loan and all the questions you need to prepare for. But, before we get to the questions, you need to know how you can upsell your business to ensure you get the opportunity to meet with a financial advisor. Then, you will be able to discuss the loan agreement and get the opportunity to answer these questions. Firstly, you need to know what your business’s credit score is and whether you qualify for loans. And you need to have all the necessary documents which are specified on the lender’s website. Knowing these two things is the first step to getting a YES from the lender. So, now that we have established what you need to get pre-selected, let’s get to the six questions the lender will ask you. 1. Why does your business need this loan? One of the first questions any lender will ask is; why do you need this loan? This question is easy as you’re talking about your company, and you know why your idea deserves to be funded. But, if you wish to elaborate further, then you should bring your business plan along. A business plan is fundamental in getting money raised for your business, and it will make lenders take you seriously. Not only will it show them how serious you are and that you know exactly what you want, but it will also give them a …
Taking A View Of The Full Picture When Considering Offshore Investment Strategies
Daniel Kibel, Founder and Director of CM Trading shares his insights into Offshore Investment: “To say that the South African investment landscape for 2020 is unpredictable would probably be an understatement. In uncertain times like these, when prophets of doom are a dime a dozen and all around you the cries of ‘jump ship’ are loud and clear, the only solid thing you can rely on regarding any advice you’re given is that it is bound to be contradictory. You’re going to have to arm yourself with common sense and kick up your understanding of global markets a notch before you can even begin to consider any kind investment strategy, offshore or local. “First things first, defining a clear investment objective with a definite view on investing locally or abroad. Sounds complicated doesn’t it? But it actually isn’t. You simply need to match how your money is invested and how you see your future. With a shift in global market indicators, this could be the ideal time to step back and review your investment portfolio and realign your strategy. “The SA market is extremely unstable right now. With SAA on the brink of collapse and the situation with Eskom, a potential downgrade by Moody’s in 2020 could definitely become a reality. This would see the dollar rate skyrocket and the rand spiral completely. If investors want to protect their money, they should seriously be considering international investments. Although it is very difficult to predict, the current markets are telling us that local investments could become very problematic. We should certainly remain open to the idea of looking outside of our borders for opportunities whilst also diversifying investments. At the end of the day one needs to keep sight of the fact that any Rands that we will be holding should still have value. “When it comes to taking cues from central banks on the ideal investment strategy, we definitely need to look at the bigger picture. There is a lot going on, not only …