Posts by Ross Reid
Written by Ross Reid.
The South African Reserve Bank (SARB) has recently given heavily indebted South Africans some breathing room. If you were drowning in debt, you would be applauding the interest rate cuts that have taken place over the last couple of weeks.
The global pandemic has resulted in the increased need for access to the internet. But cybercrimes pose a significant risk to our financial wellbeing as they grow in sophistication.
Let’s imagine you’re at a busy traffic intersection, patiently waiting for the light to turn green.
Covid-19 is causing a detrimental effect on health systems and economies around the world. However, there are other global risks which haven’t been given as much exposure with Covid-19 dominating global news headlines recently.
As discussed in our Slice newsletter this week, Open Banking is the term used to describe the sharing of your financial data through electronic and secure means with third parties (like 22seven) of whom you have approved.
Open Banking involves the consensual sharing of your financial data to third parties, in a secure manner, in an effort to help improve your financial situation. South Africans would benefit immensely from a similar regulatory environment that currently exists in places like the UK.
South Africa has been downgraded over time to junk status. Our growing and unstable Debt-to-GDP ratio is a large reason for this.
Suppose one morning you wake up to discover gravity had been reduced – you can now jump higher and weights in the gym feel lighter. Almost all physical activities are easier to complete. This all sounds superb, but highly improbable.
Amidst all the headlines dominating the news recently, you may have missed one relating to a R19 billion loan taken by the South African government from the New Development Bank.