Classic Business

Peet Serfontein, head of research & strategy at Unum Capital

Prof Thabo Legwaila, CEO of The Office of the Tax Ombud

CEO Peter Mountford

Nesan Nair, senior portfolio manager @Sasfin Wealth & Devin Shutte, head of investments at the Robert Group

The DA’s Economic Justice Policy offers South Africans an alternative route to redress at a time when all South Africans are desperately looking for a way out of the destructive race-based politics of our time and as the battle for ideas heats up around how we grow the economy in the wake of the Covid-lockdown-induced economic depression, the worst since WWII?

Michael Avery speaks to DA Policy wonk Gwen Ngwenya about what the party’s pursuit of non-racialism and linking economic policy to the sustainable development goals.

The always bankable Bidvest is a bellwether for the south African economy. In announcing a 23% decline in Normalised HEPS to 1028c for the full year, within its tight guidance range, and no final dividend along with retrenchments, it tells you all you need to know about SA inc right now. But even in the most extraordinary difficult circumstances management managed to increase cash generation 38% to R9.2bn cash generated from operations. Free cash flow of R3.7bn was a R1.4bn increase from last year. Exceptional asset management during challenging times resulted in a normalised 23% ROFE. Michel Avery speaks to Ralphs about keeping ROFE for Joffe alive and well as he hands over the baton to Mpumi Madisa, who will assume chief executive role from 1 October 2020. A time to reflect on his tenure and what stood out for him as highlights in a successful career that saw Ralphs create Bid Services into the giant it is today, employing nearly 80,000 people.

Herman de Kock, executive head of sales and service at Nedbank Business Banking

Renate Jute, business optimisation specialist and director at Noble Prosperity

Want to withdraw retirement funds on emigration? National Treasury and SARS say try again in 3 years' time. National Treasury published the Draft Taxation Laws Amendment Bill, 2020 (Draft Tax Bill) for public comment. One of the more contentious proposals in the Draft Tax Bill relates to the ability of people emigrating from South Africa to access amounts in their pension preservation fund, provident preservation fund and retirement annuity fund (retirement funds) when they leave. In accordance with the policy decision to phase out "financial emigration" for exchange control purposes, which was announced in the 2020 Budget Speech, National Treasury and the South African Revenue Service (SARS) have proposed to amend the definitions of the terms "pension preservation fund", "provident preservation fund" and "retirement annuity fund". Joon Chong, partner at Webber Wentzel, explains to Michael Avery how the proposals will work in practice and which funds will be affected.

Parmi Natesan, CEO of the Institute of Directors in South Africa