Weekly wrap: Broken municipalities rack up R79bn in debt, banks hit new records, and more

SA recession fears | Nersa’s secret U-turn on gas generation | To fix SA citizens must stand up | Treasury's stealthy tightening of exchange controls

View this email in your browser Happy Friday John Fri, 10 March 2023 Week's top stories Failed, broken municipalities with R79bn debt pile paint Treasury into a corner Moneyweb Infrastructure collapses as salaries are paid, while Eskom and water boards aren’t … Nedbank declares its highest dividend ever, launches R5bn share buyback Ntando Thukwana Group reports 12% increase in income earned from interest and loans grow 7% during its 2022 year. As supermarket diesel bills top R1bn, it’s not as simple as ‘going solar’ Moneyweb Executives at food retailers are making a rational decision to use diesel. They will also have deliberated at length whether load shedding is a two-year problem or a 10-year one. Nersa’s secret U-turn on Eskom gas generation Moneyweb 3 000MW Richards Bay gas power station passes first hurdle. National Treasury's stealthy tightening of exchange controls Ryk van Niekerk The steadily depreciating rand has significantly shrunk the amounts South Africans can take offshore. The FixSA podcast To fix SA, citizens must stand up Jeremy Maggs Accenture Africa CEO Vukani Mngxati says in getting the best leadership, cleaning out corruption, and with active citizenry, a better state can be created. Simon’s weekly wrap: Company results that came in strong, despite headwinds This week MoneywebNOW looked at financial results from Fortress, Standard Bank and Mpact, the value in using credit to invest, US inflation, the rand, SA’s greylisting, and more. Week's top podcasts RADIO » PODCASTS » Is SA heading for a technical recession? SAFM Market Update Standard Bank behaal sy grootste wins ooit RSG Geldsake How tech will change the face of entrepreneurship Small Business Conversations Podcast: Shoppers back at mega malls big time The Property Pod Using credit to build wealth MoneywebNOW - Brought to you by STANLIB Is the crypto spring at hand? Crypto podcasts Young, smart and going places Be a Better Investor From our Advisors GET LISTED » CONTACT US » Advisor views VIEW ALL » Creating a tax-friendly retirement Elke Brink - PSG Wealth A three-step plan to optimise a tax-friendly retirement environment. The two realities that destroy wealth during retirement Marius Fenwick - WealthUp (Pty) Ltd Manage these well and you will be assured of a secure retirement. What to consider when purchasing a holiday home Craig Torr - Crue Invest (Pty) Ltd There are multiple lifestyle, financial and emotional factors that play a role in the decision to purchase a holiday home. A living will: saving your loved ones more than heartache Gareth Collier - Crue Invest (Pty) Ltd Exploring the nature of a living will, the requirements for validity, and how it practically works in the event of a medical tragedy. Estate liquidity: Don’t underestimate the death-related costs in your estate Eric Jordaan - Crue Invest (Pty) Ltd Calculating your estate liquidity needs and structuring your estate plan to ensure that there are sufficient liquid assets to cover costs related to your death can be complex. Ask an advisor VIEW ALL » SUBMIT A QUESTION » Where should I invest my retirement fund savings? The funds can be reinvested in a liquid investment, with the income required determining the strategy to be followed. What can I expect the market value of my pension fund to be when I'm 55? While there is no way to project an accurate valuation, there are a few points to look at to better understand the growth of your investment over time. Top voted comment TRENDING » SUBSCRIBE » Sensei: “When self-interested and immature voters with a victim complex and a sense of entitlement, gain the legislative powers to use the law to distribute free services to themselves via the state, funded by a small group of taxpayers, it has to end in a whole string of bankruptcies that stretch from the local government to the central government and eventually to that exploited... [Read full comment] ” 250 votes On story: Failed, broken municipalities with R79bn debt pile paint Treasury into a corner Top viewed companies JSE SEARCH » 1 Sasol Ltd. » 2 Nedbank Group Ltd. » 3 Renergen Ltd. » 4 Naspers Ltd. » 5 Sibanye Stillwater Ltd. » 6 Thungela Resources Ltd. » 7 Steinhoff International Holdings N.V. » 8 Shoprite Holdings Ltd. » 9 Sanlam Ltd. » 10 Standard Bank Group Ltd. » Latest indicators MORE » ALL DATA TOOLS » Current Value 7 Day 1 Month 3 Months 6 Months JSE ALSI 76,308.61 10 Mar, 12:12 -1.23 % -1.67 % 4.18 % 13.03 % Industrial 25 102,886.73 10 Mar, 12:14 -0.54 % 1.10 % 13.11 % 23.69 % Financial 15 16,220.22 10 Mar, 12:14 -1.19 % 2.51 % 7.14 % 9.98 % Resource 10 63,935.49 10 Mar, 12:14 -2.21 % -10.05 % -11.00 % 3.07 % Top 40 70,543.14 10 Mar, 12:13 -1.05 % -1.61 % 5.11 % 15.64 % Current Value 7 Day 1 Month 3 Months 6 Months USDZAR R 18.40 10 Mar, 12:22 2.47 % 3.72 % 7.01 % 7.16 % GBPZAR R 22.07 10 Mar, 12:22 1.52 % 2.71 % 4.00 % 10.17 % EURZAR R 19.49 10 Mar, 12:24 1.58 % 2.80 % 7.47 % 12.83 % AUDZAR R 12.13 10 Mar, 12:24 -0.22 % -1.21 % 3.65 % 3.23 % Quick links Home » Daily Indicators » SENS » JSE Search » Radio » Podcasts » Sign in » Register » Newsletters » Contact us Phone: +27 (0)11 344 8600 Newsroom: [email protected] Advertising: [email protected] Technical & Account Enquiries Support requests are not handled by phone. 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