Symmetry and savvy

The DA is quite negative on the new taxes proposed for the mining sector. They seem to argue that higher taxes will discourage employment and investment. I haven’t analysed the details thoroughly so maybe they are correct. I suspect that it’s more dogmatic following of views from those who don’t understand the pros and cons …

No nationalisation, more certainty and probably higher taxes

There are times when I’m impressed with elements of government and the ANC. It took them far too long, they allowed too much debate and uncertainty, but their ultimate conclusions on nationalisation and how to direct additional mineral wealth back into the fiscus, further develop a beneficiation industry around the mining industry are solid. I …

Inevitability vs bad luck and currency unions

There’s been so much discussion about the Euro recently, with many people offering views on how we came to be where we are. I’d suggest that giving the limitations of the Euro structure, the ECB mandate and most critically, the failure of the Euro region to sufficiently meet the characteristics of an Optimum Currency Area …

Swazi King not sure he wants the conditions attached to the loan

This is really fantastic news.  The Swazi King is apparently reluctant to accept the loan from South Africa because of the conditions imposed in the agreement. I was quite harsh in criticising the granting of the loan with only conditions for improvement far down the line.  (I still believe the first condition should be an …

West African insurance trip

I’m flying to Lagos for a few days to work with a couple of Nigerian insurers. The Nigerian financial services market is already significant and growing, but insurance is still quite small. Risk and capital management are embryonic and there are simply too few actuaries in the market to push practices beyond the 1970s. Net …

Health costs we should all be happy to be paying at long last

With all the debate and discussion about the costs (and hopefully benefits) of NHI, it really is encouraging to see that the Department of Health and government aren’t hanging all their hopes on the Big Bang of NIH to solve our healthcare issues. As we slowly put the curse of the Mbeki-Manto-Beetroot alliance behind us, …