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


Recommended

by NEWSROOM AI
Read More
Prescribed assets: 'Are unions sleeping? Why are they not protecting members?'

Prescribed assets: 'Are unions sleeping? Why are they not protecting members?'

The ANC is eyeing your pension. Bruce Whitfield interviews Warren Ingram, a personal financial advisor at Galileo Capital.

3 best local and offshore shares to buy in January 2019 (by Cratos Capital)

3 best local and offshore shares to buy in January 2019 (by Cratos Capital)

Ron Klipin, a Senior Analyst at Cratos Capital, shares his stock picks of the week.

'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
Should Zimbabwe officially join South Africa in a monetary union?

Should Zimbabwe officially join South Africa in a monetary union?

What will happen to the rand if it does? Bruce Whitfield interviews Tim Nhamo, a currency specialist at Ironhead Trading.

Prescribed assets: 'Are unions sleeping? Why are they not protecting members?'

Prescribed assets: 'Are unions sleeping? Why are they not protecting members?'

The ANC is eyeing your pension. Bruce Whitfield interviews Warren Ingram, a personal financial advisor at Galileo Capital.

South Africans are getting poorer and poorer

South Africans are getting poorer and poorer

It's not your imagination; we’ve lost a decade. Bruce Whitfield interviews Johann van Tonder, a researcher at Momentum.

No more swiping without sweating! Discovery Vitality introduces new swipe system

No more swiping without sweating! Discovery Vitality introduces new swipe system

The health programme piloted a new tag system at the exit points in a bid to crack down on fake gym visits at a few fitness clubs.

ANC will lose some power in 2019, but Cyril will still be president - astrologer

ANC will lose some power in 2019, but Cyril will still be president - astrologer

Astrologer from Soul Direction Dawn Carter gives us a horoscope forecast for South Africa in 2019.

Agrizzi: Bosasa paid over R4 million a month in bribes to secure contracts

Agrizzi: Bosasa paid over R4 million a month in bribes to secure contracts

EWN's Clement Manyathela describes testimony given by Angelo Agrizzi at the Zondo Commission of Inquiry into State Capture.

Make money with farming (no land or dirty hands required)

Make money with farming (no land or dirty hands required)

Interested in farming as a "Hassel-free" side-hustle? The Money Show’s Bruce Whitfield interviews Grant Field, CEO at Fedgroup.

[WATCH] Baby hilariously tries to eat mom's burritos

[WATCH] Baby hilariously tries to eat mom's burritos

Khabazela shares tweets and Facebook posts that have gone viral.