MJ Minter Inc on 07/01/2020

Reserve Bank Economic Outlook

Since the May meeting of the Monetary Policy Committee (MPC), the Covid-19 pandemic continues to spread globally, with wide-ranging and deep social and economic effects. Current forecasts from the IMF show global Gross Domestic Product (GDP) contracting by about 4.9% this year. The deepest contractions are expected in the second quarter of 2020, with gradual recoveries in the third and fourth quarters of the year. The strength of the global economic recovery will depend in part expectations of future growth in investment and productivity.

  MJ Minter Inc
MJ Minter Inc on 07/01/2020

IMF Executive Board Approves US$4.3 Billion Loan

The IMF Executive Board has approved South Africa’s request for emergency financial support under the Rapid Financing Instrument (RFI) for an amount of US$4.3 billion to help the country mitigate the adverse social and economic impact of the Covid-19 pandemic.

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MJ Minter Inc on 06/01/2020

The COVID-19 Shock and The Revised Economic Outlook

The global shock prompted by the COVID-19 pandemic, and unprecedented restrictions designed to protect public health, have led to a sharp contraction in the domestic economy. Government interventions have cushioned the impact on workers and businesses, but have not offset the full decline. South Africa’s economic growth is forecast to fall by 7.2 per cent in 2020 as a result of the crisis, the March and April 2020 credit rating downgrades, and the compounding effects of weak investor confidence. The economic outlook is highly uncertain.

  MJ Minter Inc
MJ Minter Inc on 06/01/2020

The Protection of Personal Information Act 4 of 2013 (POPI)

On the 17th of June, President Ramaphosa signed the final enabling legislation to finally give effect to POPI with effect from 1st July 2020. Although it comes into full force, businesses have until the end of June 2021 to comply with the ACT.

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MJ Minter Inc on 05/01/2020

Director's Role Amidst The Covid-19 Pandemic

The director’s role has without a doubt become more onerous amidst the Covid-19 pandemic. However, the Companies Act makes provision for operating in a virtual world, which includes, inter alia:

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MJ Minter Inc on 05/01/2020

Covid -19 – Level 3 Workplace Regulations

All persons who are able to work from home must do so. However, persons will be permitted to travel to and from work and for work purposes under Alert Level 3, subject to-

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MJ Minter Inc on 05/01/2020

Covid -19 Alert Level 3 Tourism Sector Measures

The past two months of lockdown have been difficult for the tourism sector. Many businesses in the sector are fighting for survival and projections showed that almost 600 000 jobs were at risk if the sector doesn’t come into operation by September 2020. This reality led to both government and private sector working together to be both innovative and putting protocol guidelines to get the sector back into operation.

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MJ Minter Inc on 04/24/2020

Alert System: Levels 1 - 5

Below is a table of the 5 different levels from the Alert System and what restrictions would be implemented depending on the severity level:

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MJ Minter Inc on 04/24/2020

Post-Lockdown: General Exclusions

Post the national lockdown, there will be a few restrictions that will stay in place regardless of the level of alert in any given period:

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MJ Minter Inc on 04/24/2020

Criteria For Return To Activity

To see whether a sector will gradually resume activity or not, 3 criteria must be checked:

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MJ Minter Inc on 04/24/2020

Risk-Adjusted Strategy For Economic Activity

Though the national lockdown has shown early evidence on how it has successfully helped to flatten the curve and limit the spread of Covid-19, there are numerous risks if the lockdown is lifted too quickly or without any strategy.

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MJ Minter Inc on 04/23/2020

Further Tax Measures To Combat The Covid-19 Pandemic

In line with the President’s address to the nation on 21 April 2020, the Minister of Finance has provided more detail on the second set of measures that aim to assist individuals and businesses through the pandemic. The interventions include:

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MJ Minter Inc on 03/31/2020

Tax Measures To Combat The Covid-19 Pandemic

The Minister of Finance has announced the following exceptional tax measures as part of the fiscal package outlined by President Cyril Ramaphosa on 23 March 2020 in his speech on the Escalation of Measures to Combat COVID-19. These measures are over and above the tax proposals made in the 2020 Budget on 26 February 2020. The tax adjustments are made in light of the National State of Disaster and due to the significant and potentially lasting negative impacts on the economy from the spreading of the COVID-19 virus. There is a critical need for government interventions to assist with job retention and assist businesses that may be experiencing significant distress. These measures include:

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MJ Minter Inc on 03/01/2020

SARS and Covid -19

In light of the Covid-19 outbreak SARS has announced a number of operational changes as detailed below.

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MJ Minter Inc on 03/01/2020

Remote Working

Transitioning your office to remote working conditions can be a challenge – in this article, we've rounded up 9 steps to help you make the move as quick and easy as possible.

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MJ Minter Inc on 03/01/2020

Covid-19 and The Economy

Globally, a once-healthy economic growth outlook has been revised down sharply due to the outbreak and spread of Covid-19. This coronavirus will negatively affect global and domestic economic growth through the first half of 2020, and potentially longer depending on steps taken to limit its spread.

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