MyMoney Online

How Tito Mboweni will impact your retirement fund, tax-free savings account, etc

Finance Minister Tito Mboweni. Picture: Cindy Archillies/EWN

[Watch Cassper Nyovest's 'Tito Mboweni'. Why? He's our new, new Finance Minister!]

Mr Mboweni is a man of gravitas.

Victoria Reuvers, Morningstar Investment Management SA

How will Tito Mboweni’s appointment as Finance Minister in place of Nhlanhla Nene impact investors?

The Money Show’s Bruce Whitfield interviewed Victoria Reuvers, Director and Senior Portfolio Manager at Morningstar Investment Management SA.

Here’s what she thinks about Mboweni’s appointment:

  • It’s a well-considered and good appointment. Minister Mboweni is well known and respected by domestic and international investors.

  • He has private sector experience and understands the challenges it faces.

  • His appointment is very positive for the South African market, boosting confidence locally and abroad. It illustrates President Cyril Ramaphosa’s willingness to take a hard stance on even the appearance of involvement with corruption.

The outlook for the South African investor:

  • The market cheered the change; reflected in rand strength seen post the announcement.

  • Moody’s is likely to keep South Africa’s investment grade but may downgrade its outlook from “positive” to “stable”.

  • The upcoming Mid-term budget speech – “no comment” is her somewhat frightening remark.

For more detail listen to the interview in the audio below (and/or scroll down for quotes from it).

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : How Tito Mboweni will impact your retirement fund, tax-free savings account, etc


Recommended

by NEWSROOM AI
Read More
How to pay up to 45% less tax (and save the SA economy while you’re at it)

How to pay up to 45% less tax (and save the SA economy while you’re at it)

The Money Show’s Bruce Whitfield interviews Darryn Faulds, a fund manager at Grovest Group.

9 tough questions you should never be afraid to ask your financial advisor

9 tough questions you should never be afraid to ask your financial advisor

Times are tough. Don’t spare her feelings! You must ask these questions of your advisor, implores Galileo Capital's Warren Ingram.

'It’s a win for the EFF'

'It’s a win for the EFF'

Bruce Whitfield interviews Peter Attard Montalto (Intellidex) and independent policy and political analyst Dr Somadoda Fikeni.

'Production line of potential ANC leaders has run out'

'Production line of potential ANC leaders has run out'

Bruce Whitfield interviews Dr Azar Jammine (Econometrix) and Kagiso Pooe (North-West University).

Watch Cassper Nyovest's 'Tito Mboweni'. Why? He's our new, new Finance Minister!

Watch Cassper Nyovest's 'Tito Mboweni'. Why? He's our new, new Finance Minister!

Cassper Nyovest (and his bank manager) would like to thank Cyril Ramaphosa and Nhlanhla Nene for the expected boost in sales.

'Release of info no accident. EFF appears to back the Jacob Zuma faction'

'Release of info no accident. EFF appears to back the Jacob Zuma faction'

The Money Show's Bruce Whitfield interviews Political Economy Analyst Daniel Silke and independent political analyst Nic Borain.

Popular articles
News24 exposes how big SA corporates are funding fake news

News24 exposes how big SA corporates are funding fake news

A News24 investigation has exposed how some of South Africa's biggest companies have been advertising on fake news websites.

Zille open to renaming Robben Island swim after 'nation-builder' Theo Yach

Zille open to renaming Robben Island swim after 'nation-builder' Theo Yach

Premier Helen Zille describes Yach as one of the most generous, warm, open-hearted and community-driven people she's ever known.

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone Viral'.

[WATCH] Man exposes people selling stolen goods on Facebook

[WATCH] Man exposes people selling stolen goods on Facebook

Anton Fourie says he used his phone to record the interaction to create awareness of what is going on in the community.

Pieter du Toit on VBS, Malema's EFF and contradicting ethics

Pieter du Toit on VBS, Malema's EFF and contradicting ethics

Malema has accused the rogue unit of still being operational and Pravin Gordhan of working in the background against the EFF.

Funny Cape fashionista Nadia Jaftha making waves with her mom

Funny Cape fashionista Nadia Jaftha making waves with her mom

Fashion blogger Nadia Jaftha takes fans through her serious love of style, as well as her silly moments with sidekick mom, Nawal.