2024 Budget Speech Analysis

“The Budget speech delivered by Finance Minister Enoch Godongwana struck a fine balance between fiscal consolidation and addressing the needs of the most vulnerable members of our society. Whilst there is room for improvement, the budget has been well received by investors as bond markets have rallied in response. And although bullish for our currency, and the local fixed income markets, the budget comes at a cost for households and corporates who will be paying more tax over the next three years,”

Prowess Investments Market Update 29 January – 5 February 2024

Last week’s highlight was the US Fed’s FOMC interest rate decision to keep interest rates unchanged in line with expectations. Meanwhile, against a very challenging economic backdrop, President Ramaphosa will deliver the SONA on Thursday and will seek to highlight the government’s gains over the last year as well as offer a glimpse into it’s future vision and priorities. …