In years past, this week’s speech – that doesn’t carry as much weight as the February budget – was primarily seen as a marker in calendars of just when the state would be unofficially going on its summer holidays. It couldn’t be more different now as it will serve as a statement of intent of Ramaphosa’s first administration, and perhaps the constant date changes bear testimony to its importance – we hope.

Despite our reservations about the planned coal and nuclear future and further expansions because of cost, environmental and perhaps unavoidable political considerations, we welcome the clear path being set in the IRP for the industry – and for the clear role for investors to play in shaping our energy future. This week’s load-shedding serves no better reminder of the urgency of the matter.

The loss of unambiguous independence of the bank in its oversight of financial stability would potentially put South Africa at odds with international obligations and risk its continued access to the global financial system. SA is highly dependent on foreign capital inflows to finance its budget and current account deficits.

Prescribed assets primarily will divert savings from the private sector to the public sector, reducing private sector investment. It is also a challenge to the principle of property rights, effectively expropriating the savings of a certain segment of the public.

Over the past two years, the idea mooted has been one of prescribed assets as being a panacea for ailing state-owned enterprises and in the main it’s all about Eskom. While we appreciate the desperation of the Eskom question, we urge caution on something that looks like a knee-jerk response and on the surface at least, an easy fix for what’s seemingly exasperated policymakers.

When Cabinet meets tomorrow they will in all likelihood do so against a background of news of a positive second-quarter of economic growth and thereby escaping the technical definition of a recession – two consecutive quarters of contraction. For some in that meeting, that may just provide some space to discuss other pressing matters in their departments, unrelated to all things economy and growth.

In line with Global Entrepreneurship Week last month, FNB Business conducted a series of engagements with township entrepreneurs across South Africa’s biggest townships. The engagements started in Tembisa and Soweto townships in Gauteng and were followed by uMlazi Township in KwaZulu- Natal and Khayelitsha in the Western Cape. Mike Vacy-Lyle, CEO of FNB Business said…